The global aluminium cans market reached US$ 924.7 Billion in 2018. Aluminium cans have an unparalleled safety record and currently represent one of the most widely used containers, owing to their ability to preserve the quality and flavor of the contents. These cans are non-toxic in nature, can be reprocessed and require less care during handling and distribution. Also, they are easily moldable, which provides manufacturers with the ease of printing.
Aluminium cans are lightweight, strong, affordable, easy to handle, highly resistant to corrosion and provide exceptional barriers against air, light and moisture. They are also ideal extenders of product shelf life, offering a perfect canvas for decoration and product branding. Owing to these distinctive features, aluminium cans find diverse applications and are used in the packaging of several products, such as soft drinks, oil, chemicals, perfumes, pharmaceuticals and cosmetics. Besides this, with the growing environmental concerns, consumers are becoming more conscious about limiting the usage of plastics, which has provided a positive thrust to the aluminium cans industry. Other than this, the governments of various nations are focusing on the replacement of packaging substitutes, such as PET bottles containers, with recyclable aluminium cans. Moreover, technological innovations, such as the introduction of BPA-free aluminium cans, have stimulated their usage as a chemical-free packaging for canned food items. Looking forward, IMARC Group expects the market value to reach US$ 1,150.9 Billion by 2024, registering a CAGR of 3.6% over the forecast period (2019-2024).
Breakup by Application:
Aluminium cans represent a predominant choice for the packaging of both carbonated and non-carbonated beverages such as soda, beer, cider, fruit juice and other caffeinated drinks.
On a geographical front, North America exhibits a clear dominance in the market due to the high consumption of processed and ready-to-eat (RTE) food products and growing consciousness regarding the usage of plastics, which in turn has escalated the demand for sustainable packagings, such as aluminium cans in the region.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
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