Aluminium cans market expected to reach $70bn by 2032

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The aluminium cans market is expected to reach $70.1 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.

IMARC Group, a leading market research company, has recently releases report titled “Aluminium Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” 

The study provides a detailed analysis of the industry, including the global aluminium cans market size, share, trends, and growth forecast. 

The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the aluminium cans market?

The global aluminium cans market size reached US$ 53.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.1 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.

Factors Affecting the Growth of the Aluminium Cans Industry:

• Sustainability and Environmental Concerns:

Sustainability and environmental concerns are paramount in driving the growth of the aluminium cans market. Aluminium is one of the most recyclable materials available, capable of being recycled indefinitely without loss of quality. This closed-loop recycling process is significantly more energy-efficient compared to producing virgin aluminium from bauxite ore. Recycling aluminium saves a significant amount of the energy required for primary production, leading to substantial reductions in greenhouse gas (GHG) emissions. This energy efficiency translates to lower environmental impacts and supports global sustainability goals, making aluminium cans an attractive option for manufacturers and consumers. Additionally, the increasing awareness and concern about plastic pollution, prompting consumers to shift away from single-use plastics to more sustainable alternatives, is favouring the market growth.

• Increasing Demand for Beverages:

The rising global consumption of beverages is a significant factor fuelling the demand for aluminium cans. The beverage industry, encompassing soft drinks, energy drinks, alcoholic beverages, and water, relies heavily on aluminium cans for packaging. The convenience, portability, and durability of aluminium cans make them a preferred choice for consumers who lead active lifestyles. Additionally, the inherent properties of aluminium cans, such as their lightweight nature and resistance to corrosion, make them ideal for maintaining the quality and freshness of beverages over extended periods. This is particularly important in regions with long supply chains and variable climatic conditions. Besides this, the shifting trend towards premiumisation in the beverage sector, where consumers seek high-quality and aesthetically appealing products, has led to innovations in can design and printing.

• Innovation and Design Flexibility:

Aluminium cans offer unparalleled versatility in design, allowing brands to differentiate their products through unique shapes, sizes, and vibrant printing. This flexibility extends to various innovations, such as resealable cans, specialty coatings, and textured finishes, which enhance both functionality and aesthetic appeal. For instance, resealable cans address consumer demands for convenience and portability, enabling them to enjoy their beverages over time without compromising on freshness. Furthermore, the ability to create high-definition graphics and intricate designs on aluminium cans provides brands with a powerful marketing tool. Eye-catching packaging not only attracts consumer attention on store shelves but also reinforces brand identity and messaging.

The widespread product utilisation, as it provides excellent protection against light, oxygen, and other contaminants, which helps preserve the quality and prolong the shelf life of the contents, is boosting the market growth. Additionally, the increasing prices of alternative packaging materials such as plastic and glass, which are making aluminium cans a more attractive option, are supporting the market growth. Besides this, the introduction of government regulations aimed at reducing plastic waste and promoting recycling, which are encouraging the use of aluminium cans, is fostering the market growth. Furthermore, the growing consumer preference for convenient, lightweight, and single-use packaging solutions is acting as another growth-inducing factor.

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