Global Aluminium Cans Market Report and Forecast 2024-2032

Global Aluminium Cans Market Outlook

The global aluminium cans market attained a value of USD 49.70 billion in 2023 and expected to grow at a CAGR of 3.2% in the forecast period of 2024-2032.

Increased Demand for Aluminium Cans for Beverage Packaging to Augment the Market Growth

Based on application, beverages are anticipated to account for a significant share of the market for aluminium cans. The growing consumer preference for canned beverages has bolstered the demand for aluminium cans to package drinks like carbonated soft drinks, coffee, and juices, among others. The recyclability offered by aluminium cans, along with the convenience of usage are some of the major factors contributing to their demand. Also, the leading beverage manufacturers utilise designer labels to attract more consumers and increase the product reach. In addition, the growing innovations by the manufacturers to make aluminium cans suitable for packaging hard drinks like wine, cocktails, and energy drinks are anticipated to aid the market growth in the forecast period.

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North America to Provide Significant Growth Opportunities for the Market Expansion of Aluminium Cans

North America is projected to account for a significant share of the global market for aluminium cans in the forecast period. This can be attributed to the growing focus of the leading manufacturers on the adoption of packaging materials that are sustainable and recyclable. Also, the growing consumer demand for premium alcoholic and non-alcoholic canned beverages, fuelled by the rising disposable incomes and improved living standards, is anticipated to support the market growth. Meanwhile, the Asia Pacific region is anticipated to witness a significant demand in the forecast years, with the growing consumer inclination towards processed and packaged food and beverage products. In addition, the growing demand for premium canned products such as sparkling water, wine, and hard spirits, among others, in developing economies is anticipated to prove beneficial for the market growth in the forecast period.

Market Segmentation

Aluminium cans are containers that are primarily used for packaging beverages and food items such as carbonated soft drinks, alcoholic beverages, fruits and fruit juices, soups, vegetables, and canned sea food, among others. These cans are sustainable in nature and offer convenience of usage, along with improved product protection.

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By application, the market can be segregated into:

• Beverages

• Food

• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Enhanced Sustainability offered by Aluminium-based Packaging Solutions to Bolster the Market Growth of Aluminium Cans

Aluminium cans are one of the only infinitely-recyclable packaging materials available in the market that offer numerous benefits, including long shelf life, light weight, convenience of usage, improved durability, and corrosion resistance, among others. Aluminium cans offer improved product protection against oxygen, light, and moisture, among others. As a result, the use of aluminium-based packaging materials for canned products is gaining traction. The increased consumer preference for packaged and processed food products, especially among the working population, is also driving the market growth. Canned products like canned vegetables retain the freshness and the nutrients of the product for an extended duration, which allows for all-year round availability of seasonal goods. Also, canned products are cost-effective and offer a vast variety to choose from, which is further attracting consumer interest. Furthermore, the growing use of aluminium cans for the packaging of non-food items such as cosmetics, pharmaceuticals, oil, chemicals, and others, is anticipated to bolster their demand in various application sectors. The growing investments by the leading market players to expand their production capacity are anticipated to further supplement the growth of the market in the forecast period. For instance, in July 2021, Ball Corporation announced its plans to significantly expand its production capacity with the addition of new and advanced facilities in the UK and Russia, in an endeavour to meet the growing customer demand for sustainable products.

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Key Players in the Global Aluminium Cans Market

The report gives a detailed analysis of the following key players in the global aluminium cans market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Ball Corp.

• Crown Holding, Inc.

• Norsk Hydro ASA

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report