The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aluminum Cans Market.

The aluminum cans market was estimated at USD 54.36 billion in 2021 and is likely to grow at a CAGR of 4.19% during 2022-2028 to reach USD 73.02 billion in 2028.

What are aluminum cans?

Aluminum cans are packaging containers that provide cost-effectiveness, high reflectivity to heat & light, lightweight, protection against oxygen, moisture, and light, and corrosion resistant properties due to which they are highly used in various end-use industries such as packaging chemicals, food, and beverages, oil, and many other products. Aluminum cans provide various advantages such as 100% recyclability. They can be recycled without reduction in durability or quality, and 95% less power by utilizing recycled aluminum in production than compared to making aluminum from raw material.

COVID-19 Impact

The impact of the global pandemic Covid-19 was felt across all industries and the lockdowns caused supply-chain disruptions. Due to lockdowns and restrictions every brewery and beverage company altogether wanted to can their product and shelf it. This led to skyrocketing demand for aluminum cans across the world and the aluminum cans market saw healthy and fast growth in this period.

Market Dynamics

The growth of the aluminum cans market is primarily driven by:

  • Expanding canned food preference,
  • Increment in extra cash for the customers,
  • Rising number of health-conscious consumers,
  • Increasing preference for aluminum cans from various industries owing to their distinct features, such as lightweight, stackable, strong, resistant to transportation, hermetically sealed cover, irregular handling, and easy recyclability.

Segment Analysis:

Based on the capacity type, the market is segmented as less than 200ml, 201-450ml, 451-700ml, 701-1000ml, and more than 1000ml. The 201-450ml segment held the largest share of the market in 2021. The dominance of the segment is mainly because of the beverage industry behemoths such as Coca-Cola and PepsiCo, preparing to roll out water packaged in aluminum. The 201-450 ml aluminum cans continue to witness high demand owing to their advantages such as being lightweight, easy to transport, and store. The rise of ‘on-the-go’ culture and the growing popularity of ready-to-drink (RTD) beverages are also contributing a healthy growth for the segment.

Based on the end-use industry type, the aluminum cans market is segmented as beverage, food, chemical, pharmaceutical, paints & lubricants, and others. The beverage segment held the largest share of the market in 2021. The segment's dominance is mainly due to the rise in consumption of processed beverages and the increasing shelf life of products. Aluminum cans are popular in the beverage industry as they are capable of preserving the quality and flavor of the contents.

In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growing concerns regarding the use and consumption of sustainable packaging materials mainly drive the growth of the region’s market. High consumption of processed and ready-to-eat (RTE) food products in the region is a key growth factor for the region’s market.

Key Players

Some of the major aluminum can manufacturers are-

  • Ball Corporation
  • Ardagh Group S.A.
  • Crown Holdings Inc.
  • Silgan Holdings Inc.
  • Toyo Seikan Group Holdings Ltd.
  • CPMC HOLDINGS Limited (COFCO Group)
  • Exal Corporation
  • CAN-PACK S.A.
  • Hindustan Tin Works Ltd
  • Amcor plc.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

Based on the research, a proper report is crafted with the following key features:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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