As per the latest report by IMARC Group, titled “Aluminium Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 300 Billion Cans in 2018. Aluminium cans represent one of the most widely utilized containers for packaging. They exhibit high strength and resistance to corrosion; are non-toxic and recyclable in nature; and require relatively less care during handling and distribution. Apart from this, they are strong, lightweight, stackable, impermeable, cost-effective, and provide protection from oxygen, oils and fats, water vapor, micro-organisms, and ultra-violet rays. They also assist in keeping the contents fresh by preserving the flavor and quality and guaranteeing a long shelf-life.
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Global Aluminium Cans Market Trends:
On account of rapid urbanization, hectic lifestyles and inflating income levels, there has been a shift in the preferences of consumers across the globe. They are now opting more for packaged food products and beverages which, in turn, is strengthening the growth of the global aluminium cans market. Apart from this, there has been a significant rise in environmental concerns among consumers. With the rising awareness of the recovery and recyclability of aluminium cans, there has been an increase in the demand for these cans for the packaging of various goods. Moreover, factors such as the rising consumption of energy and sports drinks, and growing efforts by manufacturers to innovate packaging and financing advertising campaigns for various non-alcoholic drinks, are resulting in the growth of the beverage industry, in turn, boosting the overall sales of aluminium cans around the world. Further, governments of several countries have implemented numerous policies for the manufacturers to produce better-quality packaging which is also impelling the market growth. Additionally, the rising sales of hairsprays, deodorants and pharmaceuticals is anticipated to propel the market growth in the upcoming years. Looking forward, the market is projected to reach a production volume of 342 Billion Cans by 2024, expanding at a CAGR of around 2.2% during 2019-2024.
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- Based on the application, the market has been classified into beverages, food and others. Amongst these, beverages account for the majority of the total market share.
- Region-wise, the market has been divided into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Presently, North America is the leading market, holding the majority of the global share.
- The competitive landscape of the market has also been examined with some of the key players being Rexam, Ball, Crown, Amcor and CPMC.
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