According to the latest report by IMARC Group, titled "Aluminium Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global aluminium cans market size reached US$ 45.51 Billion in 2020. Aluminium cans are lightweight yet durable single-use containers that are widely utilized across the food and beverages industry as a preferred packaging solution. They are lined using a spray coating that comprises epoxy lacquer or polymer, which further assists in preventing corrosion of the metal by acidic ingredients. They are widely being employed for flavor preservation and extending the shelf life of the packaged products. These cans not only offer excellent resistance to corrosion but also provide exceptional protection against moisture, oxygen, oils, fats, microorganisms, ultraviolet (UV) rays, and other contaminants. As a result, they are increasingly being preferred for packaging soda, soup, cheese, baked beans, and beer. Apart from this, these cans also play a pertinent role in product branding and differentiation.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Aluminium Cans Market Trends:
The global market is majorly driven by the increasing sales of packaged foods and beverages. This can be attributed to rapid urbanization, hectic schedules led by the working professionals, shifting dietary preferences and the inflating per capita income levels of individuals. Along with this, there has been a rising demand for aluminium cans from the pharmaceuticals sector. They are widely used for the packaging of pain-relieving sprays and several over-the-counter (OTC) products, which is providing an impetus to the market growth. The market is further driven by the increasing environmental concerns among the masses, which has impelled the requirement for sustainable packaging containers for substituting plastic containers. Supported by the numerous government policies that encourage the adoption of recyclable packaging across multiple industries, this is acting as another major growth-inducing factor. Moreover, several players are extensively replacing bisphenol A (BPA) liners with a new epoxy called valPure V70 during the production of these cans. Since the utilization of BPA liners has often been associated with triggering numerous health conditions, they are increasingly being replaced by new liners that offer similar barrier properties to BPA. On account of the aforementioned factors, the market is projected to reach a value of US$ 56.91 Billion by 2026, growing at a CAGR of 3.61% during 2021-2026.
- On the basis of the application, the market has been divided into beverages, food and others. Among these, beverages account for the majority of the total market share.
- On the geographical front, the market has been segregated into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. At present, North America holds the leading position in the market.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Rexam PLC, Ball Corporation, Crown Holdings, Inc., Amcor Group GmbH and CPMC Holdings Limited.
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