Aluminium cans market to reach $66.23bn by 2028
According to a new market research report titled “Aluminium Cans Market Report (2023-2028),” the market is estimated at $54.62 billion in 2023. It is expected to register a CAGR of 3.93% during the forecast period and reach $66.23 billion.
Aluminium beverage cans are currently the most sustainable packaging material. They have a more recycling rate than other packaging types.
Aluminium cans are stackable, strong, and lightweight and are used to pack and transport more products using less material.
The aluminium cans market is highly fragmented due to the presence of several global and domestic industry players.
The market players are engaged in strategies like partnerships and product portfolio development to enhance their market presence.
Significant players in the aluminium cans market are,
- Ball Corporation
- Ardagh Group SA
- Crown Holdings Inc.
- Silgan Holdings Inc.
- CAN-PACK SA
- CCL Container Inc. (CCL Industries Inc.)
- Tecnocap Group
- Saudi Arabia Packaging Industry WLL (SAPIN)
- Massilly Holding SAS
- CPMC HOLDINGS Limited (COFCO Group)
Key Highlights from the Aluminium Cans Market Report:
Demand for Canned Food and Beverage to Drive the Market
- Consumers are opting for easy-to-cook food due to changing lifestyles and the growing rate of urbanisation. Therefore, the demand for processed, frozen, and ready meals is increasing, leading to the dominance of can packaging.
- Aluminium cans are also used for beverages, with the dominance of canned wine, cocktails, and hard and soft drinks being packed in metal cans.
North America to Hold Significant Market Share
- North America registers a prominent share of the market in terms of revenue due to increasing awareness of using sustainable packaging materials.
- In the United States, the demand for aerosol cans is increasing due to the expansion of the personal care sector, which deals with consumers’ ability to purchase luxury goods.
What are the Latest Developments in the Aluminium Cans Market?
- In October 2022, Ball Corporation expanded its infinitely recyclable ball aluminium cup portfolio by launching two similar small-sized ones.
- In September 2022, Crown Holdings Inc. announced a 4% global average reduction in its standard 12 oz. can weight and efforts to achieve superior recyclability properties of its metal.