Aluminium can market expected to generate $76bn over next decade
The global aluminium cans market is anticipated to grow at nearly 4.5% CAGR throughout the forecast period from 2021-2031.
Aluminium cans are also projected to account for sales of over $76billion in the next decade. Owing to the increasing beverage consumption, sales of the aluminium cans market are estimated to increase during the foreseeable future.
According to the recent FMI study, aluminium cans with 201-450ml and 451-700ml capacity, collectively, are estimated to create an incremental opportunity of US$ 15 Bn during 2021-2031. Meanwhile, 700-1,000ml capacity aluminium food cans are gaining significant popularity for buying bulk food products.
A thorough comparison and review analysis is projected by Future Market Insights of the dynamics of the aluminium cans market, which is principally subjected to an array of industry factors along with a few definite influences concerning the recyclability of aluminium.
The market for aluminium cans is expected to surge by 50 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis.
However, when comparing the H1-2022 projected and H1-2022 outlook period, a rise in BPS change by 30 BPS has been noticed.
Aluminium cans are light in weight, strong, highly resistant to corrosion, give excellent barriers against air, light, nd moisture and are easy to handle. Backed by these enormous properties aluminium cans market is expected to bolster sales in the future.
The widespread use of aluminium in packaging increased emphasis on approving environmentally and financially responsible packaging both are predicted to increase demand for aluminium cans.
Due to the increasing demand for sustainable and convenient beverage packaging solutions, the global aluminium cans market is anticipated to register stable growth throughout the forecast period (2021-2031).
Immense popularity can be witnessed in metal packaging products owing to the growing environmental and sustainability concerns. From a recycling perspective, as metal is a permanent material, it can be recycled multiple times without degrading its quality.
Aluminium cans are known for their most economic packaging solutions for personal care products and beverages. Their cost-effective property contributes to their status as one of the most recycled metals across the globe.