The new report by Expert Market Research titled, ‘Global Aluminium Cans Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aluminium cans market, assessing the market based on its segments like application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2022-2028)
- Historical Market Size (2022): USD 985.71 Billion
- Forecast CAGR (2023-2028): 3.2%
- Forecast Market Size (2028): USD 1142.71 Billion
The growth of global aluminium cans is driven by the growing need to reduction in plastic use. Owing to the recyclable nature of aluminium and harmful environmental effects of plastic the demand for aluminium cans is increasing. Additionally, in order to increase sustainability in the industries are turning towards recyclable and reusable materials. Moreover, the increasing demand for on-the-go food and beverages is expected to propel the growth of the aluminium can market. The ability to keep food fresher and light weight, is increasing the popularity of cans. Further, the increasing end using sector will aid the growth in the forecast period.
Industry Definition and Major Segments
Aluminium cans also commonly known as tin cans, are recyclable single use storing containers made up of aluminium. These are primarily used to store beverages and food such as beer, juices, milk, purees jams and jellies and preserved sea food, among others.
The market based on application can be segmented into:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Regionally, North America and Europe are the largest shareholder in the global aluminium cans market. This can be attributed to closed loop recycling, and vast ready to eat food and beverage industry. Moreover, the stringent government regulations to reduce carbon footprint and increasing sustainability in the production process will aid the regional growth. Meanwhile, Asia Pacific is expected to be the fastest growing region in the forecast period, owing to its large population, increasing industrialisation, growing pre-packaged food sector, and increasing awareness towards eco-friendly packaging.
Key Market Players
The major players in the market are Ball Corp., Crown Holding, Inc., Norsk Hydro ASA, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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