Startview Research has launched a market research report titled ‘Aluminum Cans Market’ that is compiled by leveraging findings as well as insights about the market that helps businesses to stay ahead in the competitive market. It also helps the market players in selecting targets, guiding where to invest, giving users detailed information about company profiles, etc. This report provides reliable and accurate market data, that can work as the key to the growth of any business. The report estimates future trends, challenges, linchpins, opportunities, revenue, and future sales count in the target market along with forecasting for a 5-year period.
According to this report, 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.
Market Dynamics
The growth of the aluminum cans market is primarily driven by-
- Expanding canned food preference,
- Increment in extra cash for the customers,
- Rising number of health-conscious consumers,
- Increasing preference for aluminum cans from various industries owing to their distinct features, such as lightweight, stackable, strong, resistant to transportation, hermetically sealed cover, irregular handling, and easy recyclability.
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 Segments’ Analysis
Stratview Research has bifurcated the Aluminum Cans Market by the following –
- Product Type (Slim, Sleek, Standard, and Others),
- Capacity Type (Less Than 200ml, 201-450ml, 451-700ml, 701-1000ml, and More than 1000ml),
- Structure Type (1-Piece Can, 2-Piece Can, and 3-Piece Can),
- End-Use Industry Type (Beverage, Food, Chemical, Pharmaceutical, Paints & Lubricants, and Others),
- Region (North America, Europe, Asia-Pacific, and the Rest of the World).
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.
Key Players
Some of the major aluminum can manufacturers are–
- 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.
Market Features
This report on the Aluminum Cans Market is one of the important tools with the help of which the users can obtain a well perspective and through understanding of target market and customer. The details in the report covers Covid19 impact on the market and also predicts how long will it take to recoup which aids in reducing the business failures.
- Trend analysis, pricing and competitive analysis are some of the vital factors covered in this report.
- This report consists of in-depth analysis of the market to help businesses in improving decision making.
- Aluminum Cans Market report aims at evaluating future sales as well as trends for the prediction period 5 years.
- This report helps to keep the users updated with key changes that take place in the present market.
With all these information provided by Stratview Research; market players can expand their business effectively. Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com or Connect with our market experts at: +1-313-307-4176
