According to the latest research by FMI, beverage aluminum cans market is set to behold a huge upsurge in demand over the assessment period of 2021-2031. Sales of aluminum cans gaining traction will witness steady push in short-term and optimistic growth outlook over the long run forecast period.
Dominance of aluminum cans as the most recyclable beverage container and also an average can containing 70% of recycled material makes it the most sustainable beverage container. Owing many other sustainable factors, the market of beverage aluminum cans is set to grow at a whopping CAGR of 6% over the said period.
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Factors Driving the Demand for Beverage Aluminum Cans
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
Effect of COVID-19 on the Growing Market of Beverage Aluminum Cans
COVID-19 hugely impacted all the markets globally and induced a slowdown recovery action in their growth. The highly contagious diseases made every manufacturing industry to be shut down and has cut down movements of personnel along with goods manufactured.
A dip in market growth is witnessed owing the same factors where the end-use industries were shut down. But the soon after the countries lifting the lockdown restrictions, the market got back on the track with same fortune it possessed over the historical years.
The sales of product witnessed to surge owing to emerge of many energy drink manufacturers, thriving the demand for can packaging materials especially aluminum for beverages.
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North America to remain the Supreme Region
The United States is among the biggest markets for packaging metal cans. During the time period of 2021-2031, U.S 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 favorable sources and most dominating globally.
Europe Demand to Open New Avenues
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, U.K, 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.
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Who are the Key Manufacturers and Suppliers of Beverage Aluminum Cans?
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.
