Global Aluminum Cans Market is Expected to Showcase a Significant CAGR of 2.9% During 2017-2027
The global aluminum cans market is segmented into application type such as food, beverages, pharmaceuticals, chemicals and others. Among these segments, beverages segment is the fastest growing segment. Aluminum cans are light in weight, nontoxic in nature and require less care. They are cost effective, have high reflectivity to heat and light, easy to handle, exhibit high strength and possess high resistance to corrosion. Such properties of aluminum cans maket them ideal solution for beverage packaging.
Aluminum cans easily get recycled and recover and rise in environmental concerns among population is expected to increase the demand for aluminum cans across the globe. They are capable of preserving the quality and flavor of the contents and they also have a great safety record, hence they are widely used for packaging purposes. Increase in disposable income of the consumers and increasing inclination towards canned food augmented the growth of aluminum cans market globally.
In terms of regional platform, Asia Pacific countries such as China and India accounted for the fastest growing market of global aluminum cans in terms of revenue in 2017 due to the increasing urbanization and industrialization along with growing demand for packed food. According to The International Aluminum Institute, the aluminum production in Asia Pacific has increased from 32641 metric tonnes in 2016 to 35905 metric tonnes in 2017.
North America is expected to hold the largest market for aluminum cans due to the increase in demand for packaging food. U.S. being both a prominent consumer and producer of aluminum cans which pushes the aluminum cans market in North America region. North America accounts more than one-third of the total global consumption of aluminum cans.
Apart from this, Europe is the second leading contributor to the global aluminum cans market. This growth in Europe aluminum cans market can be attributed to rapidly growing food & beverages industry in this region.
Rising demand for Aluminum Cans from Beverage Industry
Beverage sector holds the major share of the aluminum cans market due to various innovations in terms of shapes and sizes, convenient packaging and high recyclability. Manufacturers of aluminum beverage cans have lightened the package by reducing the gauge so as to fabricate both the cans and their ends. Earlier the cans were weighed approximately 3 ounces per unit but now they weigh less than half an ounce. Aluminum cans are corrosion resistant and are easily formed. Aluminum cans easily support the carbonation pressure which is required to package soda and endure pressure up to 85 pounds per square inch.
It is estimated that the market share of beverages in aluminum cans was more than 43% in 2016. The demand for aluminum cans is stronger in energy drinks and juices packaging and it is estimated that the use of aluminum cans in beverage industry will increase in the near future.
Developing economies such as China and India has led to the growth of aluminum cans market due to the increase in disposable income of consumers and demand for good quality packaged beverages.
The report titled “Aluminum Cans Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global aluminum cans market in terms of market segmentation by application type, by structure type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the aluminum cans market which includes company profiling of Rexam, Ball Corporation, Amcor, ORG Packaging, CPMC, Shengxing Group, Great China Metal Industry Company limited, Toyo Seikan Co., Ltd., Crown and EXAL. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aluminum cans market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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