Stratview Research has recently published a report on the Aluminum Cans Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.
Aluminum Cans Market Insights:
The aluminum cans market was estimated at USD 54.36 billion in 2021 and is likely to grow at a CAGR of 4.19% during 2022-2028 to reach USD 73.02 billion in 2028.
What are aluminum cans?
Aluminum cans are packaging containers that provide cost-effectiveness, high reflectivity to heat & light, lightweight, protection against oxygen, moisture, and light, and corrosion resistant properties due to which they are highly used in various end-use industries such as packaging chemicals, food, and beverages, oil, and many other products. Aluminum cans provide various advantages such as 100% recyclability. They can be recycled without reduction in durability or quality, and 95% less power by utilizing recycled aluminum in production than compared to making aluminum from raw material.
COVID-19 Impact
The impact of the global pandemic Covid-19 was felt across all industries and the lockdowns caused supply-chain disruptions. Due to lockdowns and restrictions every brewery and beverage company altogether wanted to can their product and shelf it. This led to skyrocketing demand for aluminum cans across the world and the aluminum cans market saw healthy and fast growth in this period.
Market Dynamics
The global market for aluminum cans is expected to grow due to several factors. A few are–
- High Recyclability of Aluminum Cans – Aluminum is a recyclable metal. Growing environmental concerns across the globe have increased the need for recyclable materials, and hence, Aluminum becomes the material of choice. Compared to all other materials, Aluminum happens to be the most economical and safest option for food, cosmetics, and other goods packaging.
- High Qualities of Aluminum – Aluminum cans offer high corrosion resistance, lightweight, yet durable. They are also easy to handle. Due to such factors, Aluminum becomes the first choice for all packaging industries.
- Demand for sustainable packaging – Governments across the globe have adopted sustainable packaging policies due to which, metal packaging is being preferred widely.
As per the report, the market is segmented by:
Based on the capacity type, the market is segmented as less than 200ml, 201-450ml, 451-700ml, 701-1000ml, and more than 1000ml. The 201-450ml segment held the largest share of the market in 2021. The dominance of the segment is mainly because of the beverage industry behemoths such as Coca-Cola and PepsiCo, preparing to roll out water packaged in aluminum. The 201-450 ml aluminum cans continue to witness high demand owing to their advantages such as being lightweight, easy to transport, and store. The rise of ‘on-the-go’ culture and the growing popularity of ready-to-drink (RTD) beverages are also contributing a healthy growth for the segment.
Based on the end-use industry type, the aluminum cans market is segmented as beverage, food, chemical, pharmaceutical, paints & lubricants, and others. The beverage segment held the largest share of the market in 2021. The segment's dominance is mainly due to the rise in consumption of processed beverages and the increasing shelf life of products. Aluminum cans are popular in the beverage industry as they are capable of preserving the quality and flavor of the contents.
In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growing concerns regarding the use and consumption of sustainable packaging materials mainly drive the growth of the region’s market. High consumption of processed and ready-to-eat (RTE) food products in the region is a key growth factor for the region’s market.
A sneak peek into the Report:
This report serves as a comprehensive source of market analysis. The report's layout has been kept simple in order to have the most business value possible. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions. The following is the report's key features:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market forecast analysis.
Competitive landscape and dynamics: Market share, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging Trends & Key success factors
Key Players
The market for Aluminum Cans is highly consolidated with the strong presence of key players such as-
- Ball Corporation
- Ardagh Group S.A.
- Crown Holdings Inc.
- Silgan Holdings Inc.
- Toyo Seikan Group Holdings Ltd.
- CPMC HOLDINGS Limited (COFCO Group)
- Exal Corporation
- CAN-PACK S.A.
- Hindustan Tin Works Ltd
- Amcor plc.
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Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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