Aluminum Cans Market Analysis | 2023-2028

Market Insights

The aluminum cans market was estimated at USD 57.08 billion in 2022 and is likely to grow at a CAGR of 4.06% during 2023-2028 to reach USD 73.02 billion in 2028.

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Market Dynamics

Introduction

Aluminum cans are packaging containers that provide cost-effectiveness, high reflectivity to heat & light, lightweight, protection against oxygen, moisture, and light, and corrosion resistant properties due to which they are highly used in various end-use industries such as packaging chemicals, food, and beverages, oil, and many other products. Aluminum cans provide various advantages such as 100% recyclability. They can be recycled without reduction in durability or quality, and 95% less power by utilizing recycled aluminum in production than compared to making aluminum from raw material.

COVID-19 Impact

The impact of the global pandemic Covid-19 was felt across all industries and the lockdowns caused supply-chain disruptions. Due to lockdowns and restrictions every brewery and beverage company altogether wanted to can their product and shelf it. This led to skyrocketing demand for aluminum cans across the world and the aluminum cans market saw healthy and fast growth in this period.

Market Drivers

The global market for aluminum cans is expected to grow due to several factors. A few are–

• High Recyclability of Aluminum Cans – Aluminum is a recyclable metal. Growing environmental concerns across the globe have increased the need for recyclable materials, and hence, Aluminum has become the material of choice. Compared to all other materials, Aluminum happens to be the most economical and safest option for food, cosmetics, and other goods packaging.
• High Qualities of Aluminum – Aluminum cans offer high corrosion resistance, lightweight, yet durable. They are also easy to handle. Due to such factors, Aluminum becomes the first choice for all packaging industries.
• Demand for sustainable packaging – Governments across the globe have adopted sustainable packaging policies due to which, metal packaging is being preferred widely.

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Key Players

Some of the major aluminum can manufacturers are-

• Ball Corporation
• Ardagh Group S.A.
• Crown Holdings Inc.
• Silgan Holdings Inc.
• Toyo Seikan Group Holdings Ltd.
• CPMC HOLDINGS Limited (COFCO Group)
• Exal Corporation
• CAN-PACK S.A.
• Hindustan Tin Works Ltd
• Amcor plc.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Capacity Type

Based on the capacity type, the market is segmented as less than 200ml, 201-450ml, 451-700ml, 701-1000ml, and more than 1000ml. The 201-450ml segment held the largest share of the market in 2022. The dominance of the segment is mainly because of the beverage industry behemoths such as Coca-Cola and PepsiCo, preparing to roll out water packaged in aluminum. The 201-450 ml aluminum cans continue to witness high demand owing to their advantages such as being lightweight, easy to transport, and store. The rise of ‘on-the-go’ culture and the growing popularity of ready-to-drink (RTD) beverages are also contributing a healthy growth for the segment.

By End-Use Industry Type

Based on the end-use industry type, the aluminum cans market is segmented as beverage, food, chemical, pharmaceutical, paints & lubricants, and others. The beverage segment held the largest share of the market in 2022. The segment's dominance is mainly due to the rise in consumption of processed beverages and the increasing shelf life of products. Aluminum cans are popular in the beverage industry as they are capable of preserving the quality and flavor of the contents.

Regional Insights

In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growing concerns regarding the use and consumption of sustainable packaging materials mainly drive the growth of the region’s market. High consumption of processed and ready-to-eat (RTE) food products in the region is a key growth factor for the region’s market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aluminum cans market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The aluminum cans market is segmented into the following categories.

By Product Type

• Slim
• Sleek
• Standard
• Others

By Capacity Type

• Less Than 200ml
• 201-450ml, 451-700ml
• 701-1000ml
• More than 1000ml

By Structure Type

• 1-Piece Can
• 2-Piece Can
• 3-Piece Can

By End-Use Industry Type

• Beverage
• Food
• Chemical
• Pharmaceutical
• Paints & Lubricants
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.