Global Aluminum Cans Market by application (Food & Beverage, Pharmaceuticals, Chemicals, and Others), by structure (2 Piece Cans and 3 Piece Cans), and by region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)” Global Aluminum Cans Market was valued at US$ 187.27 Bn in 2019 and is expected to reach US$ 301.1 Bn by 2027, at a CAGR of 6.12% during a forecast period.
Major driving factors of the market are increasing innovations in packaging solutions and shifting consumer preferences towards food & beverages packaging. Aluminum cans are popular owing to they are easy to handle, light in weight, and cost-effective, which is also driving the global aluminum cans market growth. Growing demand for hairsprays, deodorants, and pharmaceuticals increased the growth of aluminum cans market across the globe. Non-toxic in the environment and need less care in handling are one of the benefits of aluminum cans is booming the global aluminum cans market growth. Aluminum cans provide protection against oxygen, moisture, light and various other pollutants which does not corrosion. Rising awareness regarding benefits of aluminum cans such as recyclability, malleability, corrosion resistance and low cost of production.
In addition, aluminum cans are high reflectivity to heat & light and do not require much care while handling is driving the global aluminum cans market growth in a positive way. Various government bodies have applied several regulations and policies for the manufacturers to produce superior quality packaging, which is also driving the global aluminum cans market growth across the globe and at the same time availability of alternates such as packaging made of materials including PET and glass will hamper the global aluminum cans market growth.
The Food & beverages segment is leading the aluminum cans market.
The Food & beverages are estimated to hold the largest share in the global aluminum cans market during the forecast period. The rise in consumption of processed food & beverages and increasing shelf life of products are boosting the global aluminum cans market growth in a positive way. Aluminum cans are being popular due to they are capable of preserving the quality and flavours of the contents is expected to drive the market growth.
North America is the leading regional market for aluminum cans market.
North America is estimated to hold the largest share in the global aluminum cans market during the forecast period owing to growing concerns regarding the usage and consumption of sustainable packaging materials among consumers. The Asia Pacific is expected to generate the highest CAGR in the global aluminum cans market owing to the rising disposable income of consumers and the availability of raw materials & low labor cost. Rapid growing segments such as energy drinks and juices also stimulate the growth of aluminum cans market in this region.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as are Ball Corporation, Amcor, ORG Packaging, CPMC, Shengxing Group, Great China Metal Industry Company limited, Toyo Seikan Co., Ltd., Crown, EXAL, Rexam, Massilly Group, DS container, TUBEX GmbH, Alltub Group, Shengya, Linhardt, Matrametal Kft., James Briggs, CCL Container, Shandong Meiduo, Botny Chemical, and TAKEUCHI PRESS.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Aluminum cans market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Aluminum cans market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Aluminum cans market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on” Global Aluminum Cans Market”.
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