Global Beverage Can Market Size 2024, Forecast To 2033

The beverage can market size has exhibited robust growth in recent years, poised to increase from $32.32 billion in 2023 to $34.12 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. This growth in the historical period can be attributed to the shift from traditional glass packaging to cans, driven by increased consumer preferences for convenience, heightened sustainability and recycling initiatives, strategies aimed at brand differentiation and marketing, and the cost efficiency associated with can production. Looking ahead, the beverage can market is expected to experience substantial growth in the coming years, reaching $41.93 billion by 2028, with a compound annual growth rate (CAGR) of 5.3%. The anticipated growth drivers include the rising adoption of health and wellness trends, expansion of e-commerce platforms facilitating beverage sales, emergence of non-alcoholic beverage categories, ongoing innovations in materials and manufacturing processes, and the overall expansion of global economic activities. Major trends expected in the forecast period encompass the adoption of sustainability-focused and eco-friendly packaging solutions, innovation in can designs to enhance consumer appeal, development of functional packaging solutions, emphasis on lightweighting and material innovations to reduce environmental impact, adoption of digital printing and labeling technologies, and the reinforcement of supply chain resilience to meet evolving market demands.