Beverage cans market to grow

The global beverage cans market is anticipated to expand at a CAGR of 5% across the 2021-2031 forecast period, according to Fact.MR’s ESOMAR-certified market research and consulting firm’s recently published market intelligence report. A valuation of $70 billion is projected for the market. The report says that manufacturers are capitalizing on the surging popularity of aluminum cans to garner heightened revenue shares.

Demand has surged since the outbreak of COVID-19, as consumers inclined towards consumption of ready-to-drink carbonated, energy and alcoholic beverages across key regions.

Manufacturers are reported to be focusing on advanced technologies and smart augmented reality packaging innovations. Delivering a range of content and stories through a unique AR code printed on aluminum cans is becoming a prevalent trend in recent years. The industry is constantly adapting and innovating changes to keep the cans colorful, attractive and easy to use by inventing temperature-sensitive inks. Increasing aesthetic appeal, while simultaneously imparting strength and robustness, is influencing current manufacturing practices in the beverage cans industry.

By material, aluminum beverage cans to account for 70% of global demand through 2031. Two-piece beverage cans are projected to account for three out of five sales. The report indicates that carbonated soft drinks are to be the most widely marketed beverages, accounting for two-fifths of overall demand. Also, Asia will represent substantial growth prospects, yielding 60% of total demand, primarily spurred by India and China.

Room for improvement across most G20 nations

G20 countries must lead by example ahead of the UN Food Systems Summit by further reducing food loss and waste, and improving diets and agriculture, according to the authors of the Food Sustainability Index (FSI).

The FSI, developed by The Economist Intelligence Unit (EIU) with the Barilla Center for Food and Nutrition (BCFN), found “room for improvement” across most nations, with only Canada and Japan in the top quartile for all three pillars.

Other top performers include Australia, France, Italy and the U.K., while the US was among the worst performers for excessive meat consumption and land conversion for agriculture.

Indonesia and Saudi Arabia were the worst-performing countries across all metrics.

“G20 members generate 80% of the world’s economic output and 75% of global greenhouse gas emissions, giving these countries both the opportunity and responsibility to lead the way on food sustainability,” said Martin Koehring, regional lead (EMEA) for sustainability, climate change and natural resources at the EIU.

The FSI revealed progress on reducing the 931 million tons of food wasted globally every year, but none of the countries had published plans to account for losses or monitor reduction strategies.

The authors also highlighted diets in the US, where the average consumer eats almost 250 g more meat per day than recommended.

The report cited evidence that compliance with governments’ dietary guidelines would reduce premature deaths by 15 percent and emissions by 13%, highlighting the U.K.’s “Five a Day” campaign for increasing consumption of fruits and vegetables by 10%.

According to the FSI, all G20 countries had dietary guidelines but only four included sustainability as a metric of a healthy diet. Although 13 countries had stringent new climate action targets, only Indonesia and Canada factored in the agricultural sector in their national plans.

“We know that sustainable food systems are an integral component of sustainable development pathways envisaged by the 2030 Agenda of the UN. Leadership from the G20 can drive the transformational change needed across food systems to deliver all of our global goals from reducing hunger and poverty to tackling climate change,” said Dr. Marta Antonelli, head of research at BCFN.