USD 54.3 billion
Global Aluminum Cans Market Size, Share, Growth Analysis, By Application(Food & Beverage, Pharmaceuticals), By Capacity Type(Less than 200ml, 201-450ml) - Industry Forecast 2024-2031
Report ID:
SQMIG15G2028 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Global Aluminum Cans Market Insights
Aluminum Cans Market size was valued at USD 54.3 billion in 2021 and is poised to grow from USD 57.23 billion in 2022 to USD 87.1 billion by 2030, growing at a CAGR of 5.39% in the forecast period (2023-2030).
Aluminum cans are typically light in weight, strong, inexpensive, easy to handle, and highly resistant to corrosion and provide exceptional barriers against light, air, and moisture. They are also perfect extenders of product shelf life, providing an ideal canvas for decoration and product branding. Aluminum cans have been extensively used for packaging in the food and beverage industry. It is considered an easy method of transporting food and beverages for long periods of time without compromising the quality and taste of the product. The objective of using aluminum cans for food and beverage packaging is to ensure that the packaging material is lightweight and inexpensive. The hotel industry makes extensive use of aluminum cans as various items are outsourced to customers from this industry. Aluminum beverage cans have one of the highest recycling rates of any beverage container. With increasing awareness of recycling among manufacturers, governments, and consumers, specialty recycling bins are in high demand in both developed and emerging nations. Aluminum cans are favoured not only for their high recycling rates but also because they generate 90% less energy and 90% fewer greenhouse gases for recycling.
The rapid change in people's lifestyles, rapid urbanization, and new product launches are also expected to drive the growth of aluminum cans during the forecast period. Also, with rapid technological innovations, such as the introduction of BPA-free aluminum cans and increasing environmental concerns, consumers are becoming more aware of the use of plastics and are likely to expand growth opportunities in the market. However, the easy availability of alternatives such as packaging made of materials including PET and glass is expected to hamper the growth of the aluminum cans market during the forecast period, while various disadvantages of aluminum cans may challenge the growth of market.
US Aluminum Cans Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Food & Beverage
Fastest Growth
Food & Beverage
Growth Rate
5.39% CAGR
Global aluminum cans market, 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global aluminum cans market size by application, 2022-2030 ($ Bn)
Global aluminum cans market size by application, 2022-2030 (%)
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Global Aluminum Cans Market Segmental Analysis
Global aluminum cans market is segmented on the basis of application, capacity type, and region. On the basis of application, global market is segmented into food & beverage, pharmaceuticals, chemicals. On the basis of capacity type, global market is segmented into less than 200ml, 201-450ml, 451-700ml, 701-1000ml, and more than 1000ml. On the basis of region, global market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Aluminum Cans Market Analysis by Application
On the basis of application, global aluminum cans market is segmented into food & beverage, pharmaceuticals, chemicals. The Food & Beverage segment holds the largest market share, and is expected to grow at the fastest CAGR during the forecast period. Soda, beer, cider, fruit juice, and other caffeinated beverages, both carbonated and non-carbonated, are best packaged in aluminum cans. Due to their significant advantages, these cans are frequently used in the beverage industry. Aluminum cans are also easily recycled and help reduce carbon emissions. As a result, the increasing use of aluminum cans by beverage manufacturers across the world is driving the growth of the aluminum cans market for this segment.
Aluminum Cans Market Analysis by Capacity Type
On the basis of capacity type, global aluminum cans market is segmented into less than 200ml, 201-450ml, 451-700ml, 701-1000ml, and more than 1000ml. The 201-450ml segment had the largest market share. The segment is dominated by the beverage industry like Coca-Cola and PepsiCo which are preparing to launch aluminum-packaged water. Being light in weight and easy to transport and store, 201-450 ml aluminum cans are in high demand. Increased popularity of ready-to-drink (RTD) beverages and expanding 'on-the-go' lifestyle are also contributing a significant growth for the segment.
Global aluminum cans market size by application, 2022 (%), 2023 (%)
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Global Aluminum Cans Market Regional Insights
On the basis of region, global aluminum cans market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. The North America region dominated the global market. Growing concerns about the use and consumption of sustainable packaging materials are driving the growth of the aluminum can market in the region. According to the World Aluminum Organization, in February 2021, 5.112 million metric tons of primary aluminum was produced worldwide and 312 million metric tons were produced in North America, helping to grow the region's aluminum industry. Also, the Beer Institute's 2021 report estimates that American brewers use 36 billion aluminum cans each year.
With increasing consumer preference for processed and packaged food and beverages, the Asia Pacific region is expected to witness significant growth during the forecast years. Also, the growing demand for premium canned goods such as sparkling water, wine, and hard spirits in developing economies is expected to benefit market growth during the forecast period. According to the Japan Aluminum Association and the PET Bottle Recycling Council, the horizontal recycling rate for aluminum cans is 71%, while the horizontal recycling rate for plastic bottles is 24.3%. When plastic bottles are recycled, the material is recycled many times and often converted into another plastic product. Aluminum cans have a longer shelf life and prevent the contents from spoiling, which is mainly caused by exposure to light. This is likely to increase demand for aluminum cans in the pharmaceutical, food & beverage, and personal care industries in Japan.
Europe is expected to grow at a significant CAGR during the forecast period due to the large consumption of alcoholic and non-alcoholic beverages. According to the Metal Packaging Manufacturers Association, the total market for metal packaging is expected to be 14.7 billion units, of which approximately 98 billion units are produced annually in Europe. The total retail sales value of canned foods in Europe is expected to exceed USD 2.6 billion, with 4.5 billion units sold. Each year, over 99.4% of UK households buy canned food and approximately 9.7 billion drinks are distributed from UK cans manufacturing plants. As a result, the use of aluminum cans in the food and beverage industries will increase.
Global aluminum cans market size by geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Aluminum Cans Market Dynamics
Aluminum Cans Market Driver
- Growing awareness of ready-to-drink beverages
The ready-to-drink beverage industry has grown significantly in recent years due to factors such as the busy lifestyles of people, increasing urbanization, and access to new products. Aluminum cans are preferred for storage by beverage manufacturers because they allow for greater packing efficiency, lower shipping costs, and significant brand engagement benefits. Also, depending on the type of beverage, beverage manufacturers are likely to apply different coatings to metal cans to increase the shelf life of the product, which is expected to boost the aluminum can market during the forecast period.
- Various advantages of aluminum cans
Aluminum cans production capacity is scalable, allowing manufacturers to alter their production capacities in response to variations in product demand from their end users, thereby increasing aluminum production. Aluminum cans have many advantages, including their ease of recycling, light weight, ability to extend the shelf life of food products, and adaptability to a wide range of applications. Aluminum cans are the most popular choice among food manufacturers because they have little or no carbon footprint. As a result, demand for the product in the end-user industry is very strong, which is expected to increase the global aluminum can market.
Aluminum Cans Market Restraint
- Easy availability of alternative options
Aluminum cans market growth is expected to drive by the easy availability of low-cost aluminum cans, such as plastic, glass, and paper, as well as a significant increase in demand from end-user industries. Also, fluctuations in the cost of raw materials used to manufacture aluminum cans have a direct impact on the cost of the product. As a result, end users are looking for less expensive options that will help them reduce the cost of their end product.
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Global Aluminum Cans Market Competitive Landscape
Global aluminum cans market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global aluminum cans market.
Aluminum Cans Market Top Player's Company Profiles
- Ball Corporation
- Crown Holdings Inc.
- Ardagh Group S.A.
- Norsk Hydro ASA
- CPMC Holdings Limited
- Toyo Seikan Group Holdings, Ltd.
- Can-Pack S.A.
- Jamestrong Packaging
- Silgan Holdings Inc.
- Hulamin Containers Ltd.
- ORG Packaging Co., Ltd.
- ShengXing Group Co. Ltd.
- Tetra Pak International S.A.
- GZ Industries
- Kian Joo Group
- Trivium Packaging
- Tata Steel Europe Ltd.
- Envases Universales de México
- China Metal Packaging Group Co., Ltd.
- Alcoa Corporation
Aluminum Cans Market Recent Developments
- In January 2022, French Water Company Evian's "Evian Sparkling" drink becomes available in aluminum cans and bottles made entirely from recycled PET plastic. The brand pledged to transition to more sustainable packaging in 2018 and become a circular brand by 2025. New products are part of this effort.
- In February 2021, Ball Corporation, a supplier of aluminum packaging, is offering spring water in aluminum beverage cans produced by its household brand Responsible Water. This pure water, packed in aluminum cans, does not lose its freshness when exposed to light or heat.
- In June 2021, the German company teamed up with Swiss packaging company Nussbaum to produce aerosol cans made entirely of post-consumer recycled aluminum. The revolutionary aerosol packaging took a year to develop as it was made entirely from reusable drink cans. By the end of 2021, the first Beiersdorf products in aerosol cans made entirely from recycled aluminum will be available on the market.
Global Aluminum Cans Key Market Trends
- Efforts to reduce plastic pollution are increasing worldwide which is a major trend that driving the use of aluminum cans. Two of the key aspects driving the attention of food and beverage brands are the properties of aluminum to keep products fresh and their light weight. Over the years, manufacturers of countless products have exploited the potential of aluminum for packaging, so the demand for the aluminum cans market has increased.
Global Aluminum Cans Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our global aluminum cans market analysis, Aluminum cans have been extensively used for packaging in the food and beverage industry. It is considered an easy method of transporting food and beverages for long periods of time without compromising the quality and taste of the product. By application, the Food & Beverage segment holds the largest market share, and is expected to grow at the fastest CAGR during the forecast period. By region, the North America region had the largest market share. Efforts to reduce plastic pollution are increasing worldwide which is a major trend that driving the use of aluminum cans. However, the easy availability of alternatives such as packaging made of materials including PET and glass is expected to hamper the growth of the aluminum cans market during the forecast period, while various disadvantages of aluminum cans may challenge the growth of market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 54.3 billion |
| Market size value in 2031 | USD 87.1 billion |
| Growth Rate | 5.39% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aluminum Cans Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aluminum Cans Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aluminum Cans Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aluminum Cans Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aluminum Cans Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aluminum Cans Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aluminum Cans Market Report Snapshots
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