Aluminum Cans Market: Global Industry Analysis and Forecast (2022-2029)

Aluminum Cans Market was valued at US$ 51 Bn. in 2021. Global Aluminum Cans Market size is estimated to grow at a CAGR of 4.3%.
Aluminum Cans Market Overview:
The Aluminum Cans are also referred to as 'Tin Can', which is a single-use container for packaging and are composed mostly of aluminum material. The aluminum cans have an unparalleled safety record and are today one of the most extensively used containers as they offer the highest ability to keep the quality and flavor of the contents. Aluminum cans are packaging containers that are highly used in various end-use industries such as packaging chemicals, food and beverages, oil, and many other products.

These cans are non-toxic, processable, and require less attention during handling and distribution. Aluminum cans have a number of advantages, including 100% recyclability, which means they can be recycled without losing their durability or quality, and 95% less energy use when compared to manufacturing aluminum from raw materials.

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Aluminum Cans Market Dynamics:
Growing Awareness of Ready-To-Drink Beverages to Drive Market Growth:

The ready-to-drink beverage market has grown significantly in recent years, thanks to the factors such as people's busy lifestyles, growing urbanization, and new product penetration. Aluminum cans are preferred by manufacturers of ready-to-drink beverages for storage as they enable improved packing efficiency in terms of lower transportation costs and significant brand engagement benefits. In addition, depending on the type of beverage, manufacturers of ready-to-drink beverages are expected to apply different coatings within the metal cans to extend the shelf life of the product, which in turn is expected to boost the aluminum market growth throughout the forecast period.

Various Benefits of Aluminum Cans to Fuel Market Growth:

The production capacity of aluminum cans is scalable, allowing manufacturers to adjust their production capabilities in response to changes in demand for the product from its end users are boosting the production of aluminum cans. Aluminum cans have various advantages, including easy recycling, being lightweight, extending the shelf life of food products, and being adaptable to a wide range of applications. Aluminum cans are the most preferred choice among food makers as they help them by leaving a negligible or no carbon imprint. As a result, the demand for the product amongst the end-user industry is significantly high, which is expected to drive the aluminum cans market growth across the globe.

Aluminum cans are the most recycled beverage containers across the globe. For example, an average aluminum can contains 70% recycled metal. In addition, recycling aluminum saves up to 95% of the energy required to make primary metal as recycling aluminum uses just 5% of the energy required to produce secondary metal compared to primary metal and produces only 5% of the greenhouse gas emissions. These factors are boosting the adoption of aluminum cans among the various end-users.

According to a report published by the Aluminum Association and the Can Manufacturers Institute in December 2021, the consumer recycling rate for aluminum cans in the United States was 46.1% in 2020. In addition, according to the Metal Packaging Europe and Europe Aluminum December 2021 study, the total recycling rate for aluminum beverage cans in the European Union, Norway, Switzerland, and Iceland improved from 74.5% to 76.1% in 2019. The overall amount of aluminum recycled increased by 37,000 tonnes to 457,000 tonnes, resulting in a total reduction of 3.7 million tonnes of CO2 emissions.

Manufacturers Prioritize Lightweight Cans and Alternative Coatings:

The growing concern about plastic waste in the ocean leads to growing uses of metal packaging. Plastic trash in the ocean is reduced by using metal packaging, which in turn, increases the production of aluminum cans across the globe. In addition to emphasizing recycled aluminum, manufacturers are focusing on replacing bisphenol-A (BPA) with low- or zero-chemical coatings to avoid the risks associated with the former chemical and to maximize the environmental benefits of using the metal. Light-weighting is also becoming a popular trend in beverage packaging, as it meets consumer demand for convenience, and helps packaging manufacturers to decrease their environmental impact and expenses.

Easy Availability of Substitutes Hamper the Market Growth:

The easy availability of low-cost alternatives to aluminum cans, such as plastic, glass, and paper, along with a significant increase in demand from end-user industries are expected to hamper the aluminum cans market growth throughout the forecast period. In addition, shifting raw material prices, which are used to make aluminum cans, have a direct impact on the product's pricing. As a result, end-users are on the lookout for less expensive alternatives that can help them reduce the cost of their final product.
Aluminum Cans Market Segment Analysis:
Based on the Application, the Aluminum Cans Market is segmented into Food & Beverage, Pharmaceuticals, Chemicals, and others. The Food & Beverage segment held the largest market share, accounting for 79.2% in 2021. Carbonated and non-carbonated beverages, such as soda, beer, cider, fruit juice, and other caffeinated beverages, are best packaged in aluminum cans. These cans are widely used in the beverage sector due to their multiple advantageous qualities. Aluminum cans are also easily recyclable and contribute to the reduction of carbon emissions. As a result, the growing use of aluminum cans from beverage manufacturers across the globe, which in turn, drives the aluminum cans market growth for this segment.


Aluminum Cans Market Regional Insights:
North America region held the largest market share accounted for 38.71% in 2021. The growing concerns about the usage and consumption of sustainable packaging materials are driving the aluminum cans market growth in the region. North America's growth is also aided by the existence of aluminum manufacturers and demand from packaging companies. According to the World Aluminum Organization, 5,112 million metric tonnes of primary aluminum has produced across the globe in February 2021, with 312 million metric tonnes produced in North America, which has assisted the region's aluminum sector growth.

The growing consumption of alcoholic and non-alcoholic beverages such as beer and carbonated beverages is boosting the aluminum demand in the region. According to the Alcohol and Tobacco Tax and Trade Bureau, beer production in the United States was roughly 179.95 million barrels in 2020. In addition, the Beer Institute's 2021 Report estimates that American brewers utilize 36 billion aluminum cans each year.

In the year 2021, the aluminum cans market in the region had a volume of 164.21 billion units, and it is expected to grow at a CAGR of 4.63 % over the forecast period. The growing demand for aerated beverages, energy drinks, and other canned food items is being driven by the region's growing population and rising disposable incomes. These foods are commonly packaged in aluminum cans, which is expected to fuel the aluminum cans market growth in the region.

The objective of the report is to present a comprehensive analysis of the global Aluminum Cans Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Aluminum Cans Market dynamic, structure by analyzing the market segments and projecting the Aluminum Cans Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Aluminum Cans Market make the report investor’s guide.
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Aluminum Cans Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 51 Bn.


Forecast Period 2022 to 2029 CAGR:
4.3%
Market Size in 2029:
US $ 74.49 Bn.


 Segments Covered:
by Structure
• 2 Piece Cans
• 3 Piece Cans


by Application
• Food & Beverage
• Pharmaceuticals
• Chemicals
• Others



Aluminum Cans Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Aluminum Cans Market Key Players
• Ball Corporation
• Amcor
• ORG Packaging
• CPMC
• Shengxing Group
• 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
• TAKEUCHI PRESS
• Ardagh Group
• Silgan Holding Inc.
• CAN-PACK SA

Frequently Asked Questions:

1] What segments are covered in the Aluminum Cans Market report?
Ans. The segments covered in the Aluminum Cans Market report are based on Structure, Application.

2] Which region is expected to hold the highest share in the Aluminum Cans Market?
Ans. The North America region is expected to hold the highest share in the Aluminum Cans Market.

3] What is the market size of the Aluminum Cans Market by 2029?
Ans. The market size of the Aluminum Cans Market by 2029 is US$ 74.49 Bn.

4] What is the forecast period for the Aluminum Cans Market?
Ans. The forecast period for the Aluminum Cans Market is 2022-2029.

5] What was the market size of the Aluminum Cans Market in 2021?
Ans. The market size of the Aluminum Cans Market in 2021 was US$ 51 Bn.