Global Beverage Can Ends Market 2019-2023 | Development of Innovative Beverage Can Ends to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 12, 2019--
The beverage can ends market size is expected to post a CAGR of over 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global beverage can ends market 2019-2023. (Graphic: Business Wire)
The increasing demand for sustainable packaging solutions is one of the major reasons for the beverage can ends market growth. Consumers are increasingly becoming aware of the benefits of using sustainable and recyclable packaging solutions. This has encouraged manufacturers, particularly from the F&B industry to use materials that use lesser energy. Thus, the preference for materials such as aluminum and steel for the manufacture of beverage can ends has increased. Furthermore, governments across many countries are implementing sustainable business practices to reduce their carbon footprint, which will contribute to the growth of the market.
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As per Technavio, the development of innovative beverage can ends will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Beverage Can Ends Market: Development of Innovative Beverage Can Ends
The development of innovative beverage can ends is identified as one of the major market trends that will boost growth. Manufacturers are offering innovative packaging which attracts consumers visually and is also easy to use. Moreover, they are providing beverage can ends in various user-friendly designs, and colors.. These new designs with incised, and embossed pull-tab ends help beverage manufacturers to brand their product and deliver brand messaging, thereby assisting in marketing and brand recognition.
“Factors such as the increased focus on lightweight beverage can ends, and stringent government regulations on use of non-biodegradable plastics will have a significant impact on the growth of the beverage can ends market value during the forecast period,” says a senior analyst at Technavio.
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Beverage Can Ends Market: Segmentation Analysis
This market research report segments the beverage can ends market by material (aluminum and steel) and geographical regions (APAC, EMEA, and Americas).
The Americas led the market in 2018, followed by APAC and EMEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA region.
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Five Forces Analysis
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