Pro
Chemicals & Materials
Bio-lubricants Market End-use Industry, By Others
| Label | USD Million |
|---|---|
| 2018 | 11891.234523923902 USD Million |
| 2019 | 12656.704630817378 USD Million |
| 2020 | 13471.320884714629 USD Million |
| 2021 | 14338.231490240034 USD Million |
| 2022 | 15260.785920924083 USD Million |
| 2023 | 16196.216512446284 USD Million |
| 2024 | 17188.826260768295 USD Million |
| 2025 | 18242.101932103153 USD Million |
| 2026 | 19359.742473757997 USD Million |
| 2027 | 20545.671902775055 USD Million |
| 2028 | 21804.0529762438 USD Million |
| 2029 | 23139.301690625845 USD Million |
| 2030 | 24556.102660298016 USD Million |
| 2031 | 26059.425428555616 USD Million |
| 2032 | 27654.541767538492 USD Million |
Data Source: Wantstats Repository
Market Dynamics
Latin America is a rapidly growing market for beverage cans, with a large population and steady growth of per capita consumption. According to Euromonitor International, the demand for beverage cans in Latin America grew steadily from 2018 to 2020 and is projected to continue to grow in the next 12 years. A major factor driving the growth in can demand across Latin America is the shifting trends in consumer preferences. The increasing health concerns among a rising middle-class population has led to the increasing demand for a healthier beverage options. This has in turn led to a change in the beverage consumption patterns with the increased consumption of water and other health-related drinks. Additionally, with the rise of the younger, urban population, there is an increasing demand for convenience, which has resulted in an upsurge in the demand for single-serve cans. The increasing demand for beverage cans is also linked to a rise in e-commerce and a surge in demand for canned beer and energy drinks. This is because canned-based products are the preferred format for e-commerce. Manufacturers have also embraced innovative packaging such as can shapes to respond to increased demand.
However, the market for beverage cans in Latin America faces certain challenges associated with the rising cost of inputs and packaging materials, which affects the manufacturers in terms of maintaining competitive pricing. Additionally, waste and recycling regulations have become more stringent across Latin America, which requires beverage manufacturers to follow higher standards when it comes to recycling packaging materials. Overall, Latin America remains an attractive market for beverage can manufacturers, with the potential for healthy growth rates in demand due to the favorable demographic and economic factors. Despite certain challenges, manufacturers can still capitalize on the changing consumer preferences and focus on efficient recycling practices in order to sustain long-term growth.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.