According to Custom Market Insights (CMI), The Global Aluminium Can Market is expected to grow at a compound annual growth rate of 4.5% during the forecast period from the year 2022 to the year 2030.
The market is expected to reach U.S. dollars 76 billion by 2030, which will grow from U.S. dollars 53.3 billion in 2021. Aluminium cans have been used extensively for packaging in the food and beverages industry. It is considered one of the easiest ways of transporting food products and liquids without hampering the quality and taste of the Product for a long period.
The purpose of using aluminium cans for packaging food and beverages is to ensure that the packaging material has a minimum weight and maintains a low cost. The hotel industry uses aluminium cans on a large scale as several products are outsourced from this industry to the consumers.
Browse the full “Aluminium Cans Market Size, Trends and Insights By Product (1 Piece cans, 2 Piece cans, 3 Piece cans), By Capacity (Up to 200 ml, 201 to 450 ml, 451 to 700 ml, 701 to 1000 ml, more than 1000 ml), By End User (food and beverages industry, Pharmaceutical industry, Personal care and cosmetics industry, Paints and lubricants industry), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/aluminum-can-market/
Market Dynamics
Drivers
The increasing demand for sustainable packaging options that can maintain the authenticity of the products is helping the market for aluminium cans to show a tremendous boost over the years. Aluminium cans have provided the cheapest option for packaging food and beverages.
The healthcare sector has used this packaging option as it does not change the chemical composition of the inside products. Aluminium cans are very easy to be recycled and reused, which makes them a suitable option as far as the environment is concerned. Scrap collectors emerged as a major collection source where aluminium cans are gathered and then sent for the process of recycling. Aluminium cans can be recycled multiple times, making them suitable for protecting the world from rapid climate change. These multiple reasons have emerged as the driving forces for the growth of the aluminium cans market during the forecast period.
Restraints
The cost of the raw materials required for manufacturing aluminium cans keeps on fluctuating according to the fluctuations in the global economy. Key market players face a major challenge against the other cheaper options that are available for packaging. The presence of plastic materials in the packaging industry provides a cheaper option.
The weight of plastic packaging is quite less than aluminium cans; hence, the market faces a major challenge during the forecast period. Plastic packaging provides an easier disposal option to users than aluminium cans; hence, the market faces another major challenge. These multiple reasons emerge as the restraints for the growth of the market.
Opportunities
Aluminium cans are very easy to handle as they bear a very minimum weight which does not alter the total weight of the food or beverages. Aluminium cans have very high resistance against corrosion, making them extremely durable for carrying various products. The total weight of the aluminium can is considerably lesser than the other firm packaging options. Aluminium cans are very useful when a sturdy and formed packaging option is required to maintain the integrity of the Product.
The rapidly increasing demand for aluminium cans worldwide has emerged as a major factor in providing various opportunities for the aluminium cans market to increase its market size. The huge demand for a suitable packaging option that can protect food and beverages against rapid climate change has made aluminium cans a leading market player. Aluminium cans also protect against physical damage, making them a more suitable option for packaging. These multiple opportunities support the growth of the market.
Challenges
The major challenge for the aluminium can market is the availability of different packaging options, such as plastics and paper bags, which also provide environmental sustainability and match the rules and regulations the government laid down. Increasing demand for plastic packaging among consumers has greatly hampered the aluminium can market’s growth.
The price of the raw material emerges as a major challenge for the market as it keeps fluctuating according to the global economy, which hampers the final Product produced by the manufacturers. A huge step has been taken toward reducing the amount of wastage produced by the food and beverages industry which has hampered the use of aluminium cans for packaging. Other cheaper options available in the packaging market have hampered the sales and demand for aluminium cans to a great extent. These multiple challenges hamper the growth of the market during the forecast period.
Get Free Sample Copy @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=18728
Report Highlights
Based on Product, the Segment of two-piece has emerged as a major market segment due to the increasing demand for this Product among the various industries. Based on end-user, the Segment of beverages has emerged as the largest segment under this category due to the increasing demand for this packaging material which prevents spillage. Based on geography, the region of North America has emerged as the largest market player for aluminium cans due to the increasing demand for a suitable option resistant to climatic change. Based on capacity, the Segment of 201 – 450 ml has emerged as a major segment due to its extensive use in the market.
Regional Snapshots
The region of North America emerged as the largest market for aluminium cans due to the extensive use of this material for packaging in the food and beverage industry, which is growing rapidly and about an increasing population all over the world. The huge number of people carrying takeaway food and beverages worldwide has greatly helped boost the aluminium cans market. The geographical sector of Asia Pacific has also emerged as a major consumer of aluminium cans due to the increasing demand for this material for packaging, which maintains the physical integrity of the content.
Key Players
- Crown Holdings Inc.
- CCL Industries Inc.
- CPMC Holdings Inc.
- Ball Corporation
- Ardagh Group S.A.
- Silgan Containers LLC
- Toyo Seikan Co., Ltd.
- Nampak Ltd.
Table of Contents: https://www.custommarketinsights.com/report/aluminum-can-market/#table-of-contents
About Us:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Contact Us:
USA Corporate Office
CMI Consulting LLC
1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702
Sales & Support +1 801 639 9061
Email : support@custommarketinsights.com
Website : https://www.custommarketinsights.com/