Aluminum Cans Market to Showcase Opulent Growth with a Healthy CAGR of 4.5% Throughout 2021-2031 Accounting for Surge in Eco-Friendly Packaging worldwide - Future Market Insights, Inc.
North America is considered to be one of the most attractive market for aluminum cans. The aluminum cans market in Japan is expected to expand at a moderate CAGR of 4.1% during the forecast period. China aluminum cans market is estimated to expand at 5.8% CAGR over the forecast period 2021 -2031
NEWARK, Del., July 29, 2022 /PRNewswire/ -- The global aluminum cans market is anticipated to create an absolute dollar opportunity with an exceptional growth of nearly 4.5% CAGR throughout the forecast period from 2021-2031. Aluminum cans are referred to as tin cans accounting for sales of over US$ 76 Bn in the next decade. Owing to the increasing beverage consumption, sales of the aluminum cans market are estimated to increase during the foreseeable future.
According to the recent FMI study, aluminum cans with 201-450ml and 451-700ml capacity, collectively, are estimated to create an incremental opportunity of US$ 15 Bn during 2021-2031. Meanwhile, 700-1,000ml capacity aluminum food cans are gaining significant popularity for buying bulk food products.
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A thorough comparison and review analysis is projected by Future Market Insights of the dynamics of the aluminum cans market, which is principally subjected to an array of industry factors along with a few definite influences concerning the recyclability of aluminum. Some recent market advancements include the development of BPA-free aluminum cans which are chemical-free packaging for canned food items.
Key Takeaways
The market for aluminum cans is expected to surge by 50 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a rise in BPS change by 30 BPS has been noticed.
Aluminum cans are light in weight, strong, highly resistant to corrosion, give excellent barriers against air, light, & moisture and are easy to handle. Backed by these enormous properties aluminum cans market is expected to bolster sales in the future.
The widespread use of aluminum in packaging increased emphasis on approving environmentally and financially responsible packaging both are predicted to increase demand for aluminum cans.
Due to the increasing demand for sustainable and convenient beverage packaging solutions, the global aluminum cans market is anticipated to register stable growth throughout the forecast period (2021-2031).
Immense popularity can be witnessed in metal packaging products owing to the growing environmental and sustainability concerns. From a recycling perspective, as metal is a permanent material, it can be recycled multiple times without degrading its quality.
Aluminum cans are known for their most economic packaging solutions for personal care products and beverages. Their cost-effective property contributes to their status as one of the most recycled metals across the globe.
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Competitive Landscape
Crown Holdings Inc., Ball Corporation, Ardagh Group S.A., Silgan Containers LLC, Toyo Seikan Co., Ltd., Nampak Ltd., CCL Industries Inc., CPMC Holdings Inc., Kian Joo Can Factory Berhad, CAN-PACK S.A. are some of the key companies profiled in the full version of the report.
Leading manufacturers in the aluminum cans market are focusing on increasing their production capacity to meet the increasing demand for aluminum cans across food, beverages, personal care & cosmetics, pharmaceuticals, and paints & lubricants industries.
More Insights into the Aluminum Cans Market
North America is set to dominate the aluminum cans market during the forecast period with an opulent market share of around 87% in 2021.
The surging inclination toward packaged and processed food products in the U.S. is aiding the growth of the aluminum cans market. There are multiple characteristics attached to aluminum cans such as increased shelf life of products, the safety of food, and the growing fast-food culture are anticipated to drive the global aluminum cans market in the forthcoming years.
The U.S is expected to account for the highest sales in aluminum cans market as it is considered one of the world's largest markets for food and considered one of the top five countries for high consumption of beverages.
Germany is anticipated to contribute over 21% of sales in the Europe aluminum cans market through 2021. Expansion of the various industries such as chemical and food & beverages will create lucrative growth prospects for aluminum cans sales throughout the forecast period 2021-2031.
The U.K. is emerging as the second largest market across Europe due to the large consumption of alcoholic and non-alcoholic beverages. According to FMI estimations, the U.K. is anticipated to hold around 18% of the market share in 2021.
The aluminum cans market in Japan is expected to expand at a healthy CAGR of 4.1% during the forecast period. Owing to the expansion of the food & beverage industry during the forecast period will create growth prospects for aluminum cans sales in Japan.
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Aluminum Cans Market by Category
By Product Type:
- 1-piece Cans
- 2-piece Cans
- 3-piece Cans
By Capacity:
- Up to 200ml
- 201-450ml
- 451-700ml
- 701-1000ml
- More than 1000ml
By End-use Industry:
- Food
- Fruits & Vegetables
- Ready-to-eat
- Meat, Poultry, & Seafood
- Pet Food
- Bakery & Confectionery
- Others
- Beverages
- Alcoholic
- Non-alcoholic
- Personal Care & Cosmetics
- Pharmaceuticals
- Paints & Lubricants
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Table of Content
1. Executive Summary
1.1. Global Market Analysis
1.2. Global Market Outlook
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Coverage
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
5. Global Aluminum Cans Market Demand Analysis 2014-2020 and Forecast, 2021-2031
5.1. Historical Market Volume (Mn Units) Analysis, 2014-2020
5.2. Current and Future Market Volume (Mn Units) Projections, 2021-2031
5.3. Y-o-Y Growth Trend Analysis
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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