The global aluminium cans market size was evaluated at USD 57.23 billion in 2022 and it is expected to hold around USD 87.1 billion by 2030, growing at a CAGR of 5.39% between 2022 and 2030.
Aluminium cans have been used extensively over the period of years for the purpose of packaging in the food and beverages industry. It is considered to be one of the easiest ways of transporting food products and liquids without hampering the quality and taste of the product for a long period of time.
The purpose of using Aluminium cans for packaging food and beverages it's to make sure that the packaging material has a minimum weight as well as maintains a low cost. The hotel industry makes use of Aluminium cans on a large scale as a number of products are outsourced from this industry to the consumers.
Aluminium Cans Market Report Scope
| Report Coverage | Details |
| Market Size in 2022 | USD 57.23 Billion |
| Market Size by 2030 | USD 87.1 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 5.39% |
| Largest Market | North American |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Segments Covered | By Product, By Type,BY Capacity and By End User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Report Highlights
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 pertaining to the increasing population all over the world. The huge number of people who carry take away food and beverages all over the world has helped to boost the market for Aluminium cans to great extent.
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.
Market Dynamics
Drivers
The increasing demand for sustainable packaging options which can maintain the authenticity of the products is helping the market for Aluminium cans to show a tremendous boost over the period of years. Aluminium cans have provided the cheapest option for the packaging of food and beverages. The healthcare sector has made use of this packaging option as it does not change the chemical composition of the products contained inside.
Aluminium cans are very easy to be recycled and reused which makes it a suitable option as far as the environment is concerned. Scrap collectors emerge as a major collection source where aluminium cans are gathered and then sent for the process of recycling. Aluminium cans can be recycled for multiple times which makes it a very suitable option 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 which are required for manufacturing of Aluminium cans keeps on fluctuating according to the fluctuations in the global economy. Rocky market players face a major challenge against the other cheaper options which are available for the purpose of packaging. The presence of plastic materials in the packaging industry provides a cheaper option to enhance the growth of the market is hindered considerably.
The weight of plastic packaging is quite less as compared to Aluminium cans and hence the market faces a major challenge during the forecast period. Plastic packaging provides an easy disposal option to users as compared to Aluminium cans and 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 for handling as they bear a very minimum weight which does not alter the total weight of the food or beverages. Aluminium cans have a very high resistance against corrosion which makes it extremely durable for carrying various products. The total weight of the Aluminium can is considerably lesser than the other packaging options which are firm. Aluminium cans are very useful when a sturdy and form packaging option is required to maintain the integrity of the product inside.
The rapidly increasing demand of aluminium cans all over the world has emerged as a major factor in providing various opportunities for the Aluminium cans market to increase its market size. The huge demand of a suitable packaging option that can protect food and beverages against rapid climate change has made Aluminium cans a leading market player.
Aluminium cans provide protection against physical damage as well which makes it a more suitable option for packaging. These multiple options provide great opportunities to the key market players.
Challenges
The major challenge for the Aluminium cans market is the availability of different types of packaging options such as plastics and paper bags which also provide environmental sustainability and hence match the various rules and regulations laid down by the government. Increasing demand for plastic packaging among the key market players has hampered the growth of the Aluminium cans market to a great extent.
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 husband took towards reducing the amount of wastage produced by the food and beverages industry has hampered the use of aluminium cans for the purpose of packaging.
Other cheaper options available in the market for the purpose of packaging has hampered the sales and demand of Aluminium cans to a great extent. These multiple regions emerge as the challenges for the growth of the market during the forecast period.
Recent Developments
Major Key Players
Market Segmentation
By Product
By Type
By Capacity
By End User
Buy this Research Report@ https://www.precedenceresearch.com/checkout/2077
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com| +1 9197 992 333
