The global sales of beverage aluminum cans are estimated to be worth USD 31 billion in 2021 and are anticipated to reach a value of USD 43.6 billion by 2031. Sales are projected to rise at a CAGR of 3.5% over the forecast period between 2021 and 2031. The revenue generated by beverage aluminum cans in 2020 was USD 30 billion.
Quite a number of important driving forces are behind the significant growth of the beverage aluminum cans market. Some of the key drivers include the increase in consumer demand for convenience and drink portability, hence surging demand for lightweight, resealable aluminum cans.
Growing environmental awareness favours recyclable aluminum can usage to meet the criteria of sustainable development. Further, the rise of the beverage industry: soft drinks, energy drinks, and alcoholic beverages overall, are also major facts that lead to the growth of the can making market.
In addition, there is the trend towards premium packaging with innovations in can designs, which further propels market growth. Technological changes in can manufacturing improve product strength and quality, hence increase market growth.
Global Beverage Aluminum Cans Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 30 billion |
| Estimated Size, 2021 | USD 31 billion |
| Projected Size, 2031 | USD 43.6 billion |
| Value-based CAGR (2021 to 2031) | 3.5% |
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There always existed a fight for sustainable packaging for food & beverages. As the bio-based packaging materials are from long way to overtake the conventional plastic packaging, metal based containers have witnessed to gain the advantage owing to the recyclability character that they exhibit. Aluminum cans are most lucrative opportunity for various food & beverage packaging and are widely used across the globe.
Confining to aluminum cans, these are the mostly preferred material type for beverage packaging as it offers excellent malleability, which is the most desirable characteristic for metal packaging manufacturer to draw reliable packaging material.
Sales of aluminum cans is set to witness huge upward curve throughout the forecast period and beyond as the market is nowhere to possess threat from potential alternative for filling and delivering of beverages.
The consistent demand for aluminum cans from soft drinks remained a push across the globe and actors trying to enhance the performance of the same is further set to bolster the sales.
Ever since the entrance of brewery products to be filled and shipped in aluminum cans, the market has started to expand and is on its cusp with actors investing substantial funds in developing 100% protection against oxygen, light, moisture and other contaminants parallel with innovative can and opening types is projected to drop positive insight for market growth
The United States is among the biggest markets for packaging metal cans. During the time period of 2021-2031, USA beverage aluminum cans sales is anticipated to initiate huge push. The need for recyclable packaging materials is on highly positive note and making the market to result tremendous growth in years to come.
Canada is also among the countries across the world to showcase heavy spending on innovative aluminum packaging methods to adhere to sustainability along with reliable filling and delivery system for beverages. The inclination of huge end-use industries towards aluminum cans for beverage packaging is to facilitate positive growth factor.
All in all, these factors leave North America as a region with highly favourable sources and most dominating globally.
The COVID-19 has had a drastic hit on many EU countries, leading to a decline in economic activity. However, the region has Greenfield and brownfield investments for sustainable packaging systems for food & beverages. The region has showcased a huge positive nature for adaptation of metal beverage cans with extra interests for aluminum.
As far as beverage aluminum cans market is considered, countries like Germany, France, Italy, Spain, UK Russia and many others have approval for adaptation as they offer numerous positive characteristics for recyclability. The players in the region spend huge funds on making the interior coating for aluminum cans as less chemicals involved as possible to gain advantage against the retarding claims being risen by few committees.
Major actors present in the business of beverage aluminum cans include
The most of the industry leaders in the beverage aluminum cans business have a diverse product line and provide high-quality packaging. To reach a clientele and obtain a competitive edge over competitors, manufacturers opt to play with organic market strategy by creating new production methods and other hybrid techniques. Manufacturers have also been seen expanding their product lines across regions to strengthen their position
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Beverage Aluminum Cans Market
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