Future Market Insights (FMI) in its latest research study estimated the demand for aluminum cans is expected to increase at 4.5% CAGR, surpassing US$ 112.3 Bn through 2031. Growing demand for beverage packaging is propelling the growth in the market.
According to the report, aluminum cans with capacities of 201-450 ml and 451-700 ml are expected to generate an additional opportunity worth US$ 15 billion between 2021 and 2031. Aluminum food cans with a 700–1,000ml capacity are also becoming increasingly popular for purchasing food items in bulk.
Increased demand for smaller pack sizes coupled with a preference for convenient packaging will boost the market. Furthermore, rising use of flavored alcoholic beverages, wine, soft drinks, and energy drinks is predicted to improve aluminium can sales.
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Consequently, growing consumption of beverages among millennials across the globe will also aid the growth in the market. Furthermore, brand-owners are treating aluminium cans as a promotional tool, which is expected to create growth opportunities for the market players.
Key players are also focusing on improving the shapes and sizes to woo the end-users. Unique shapes, finishes, and features will also improve the shelf visibility of these cans. Hence, adoption of aluminium cans to achieve product differentiation, and eye-catchy prints will result in increased sales.
Manufacturers are focusing on product offerings and developing self-chilling and self-heating cans in metal can packaging innovations, which in turn is expected to boost the demand for aluminium cans over the forecast period.
Key Takeaways
- By product type, the 2-piece aluminium cans segment is anticipated to remain the leading segment, accounting for 52% of the market share in 2021.
- Based on capacity, more than 1000ml segment is projected to register a CAGR of 4.9% during the forecast period.
- In terms of end-use, the beverage industry is projected to remain primary end user in aluminium cans market, holding around 79% of the market share in 2021.
- South Asia and East Asia, cumulatively, will account for nearly 40% of the global aluminium cans market in 2021.
- Europe and North America, collectively, are projected to hold approximately 48% of the market share in 2021.
“Aluminium cans manufacturers are likely to collaborate with leading food and beverage companies to develop and innovate convenience technology for aluminium cans in order to maximize profits. Key players are also focusing on innovation in coating materials, patterns, and unique shapes to meet the requirement for product distinctiveness, which is in turn creating remunerative opportunities for the growth of the market” says an FMI analyst.
Use of Aluminium Cans to Enhance Point-of-sale Appeal and Product Differentiation
Aluminium is a lustrous metal, which widens its applications for point-of-sale packaging solutions. Its unique physical attributes are enhancing the aesthetics of the packaging, and plays a key role in product differentiation.
Furthermore, shaped aluminium cans with distinct prints & decorations are used to increase shelf visibility of products. Increased shelf visibility are aiding the sales of end users, as most beverage purchase decisions are made on the spot.
Hence, premium brands are adopting aluminium cans with distinctive shapes and eye catchy graphics which can grab consumers’ attention to boost their sales. These factors are also anticipated to fuel demand for aluminium cans for packaging of deodorants, perfumes and other personal care products.
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Aluminium Cans Market Landscape
Crown Holdings Inc., Ball Corporation, Ardagh Group S.A., are the top players operating in the target market. Furthermore, Silgan Containers LLC, Toyo Seikan Co., Ltd., Nampak Ltd., CCL Industries Inc., CPMC Holdings Inc. Kian Joo Can Factory Berhad, CAN-PACK S.A. are also noticeable players in the market. The Tier 1 players in the market hold 25-30% in the global market for aluminium cans.
Aluminium Cans Market by Category
By Product Type:
- 1-piece Cans
- 2-piece Cans
- 3-piece Cans
By Capacity:
- Up to 200ml
- 201-450ml
- 451-700ml
- 701-1000ml
- More than 1000ml
By End-use Industry:
- Food
- Fruits & Vegetables
- Ready-to-eat
- Meat, Poultry, & Seafood
- Pet Food
- Bakery & Confectionery
- Others
- Beverages
- Alcoholic
- Non-alcoholic
- Personal Care & Cosmetics
- Pharmaceuticals
- Paints & Lubricants
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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What to Expect in Our Report?
(1) A complete section of the Global Aluminum Cans market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
(2) Another broad section of the research study is reserved for regional analysis of the Global Aluminum Cans market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Aluminum Cans market.
(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Aluminum Cans market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
(5) Readers are provided with findings and conclusion of the research study provided in the Global Aluminum Cans Market report.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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