October 16, 2022 22:30 ET | Source: Custom Market Insights Custom Market Insights
Sandy, Utah, USA, Oct. 16, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Aluminium Cans Market Size, Trends and Insights By Product (1 Piece cans, 2 Piece cans, 3 Piece cans), By Capacity (Up to 200 ml, 201 to 450 ml, 451 to 700 ml, 701 to 1000 ml, more than 1000 ml), By End User (food and beverages industry, Pharmaceutical industry, Personal care and cosmetics industry, Paints and lubricants industry), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Aluminium Cans Market size & share was valued at approximately USD 53.3 Billion in 2021 and expected to reach USD 56.2 billion in 2022 and is expected to reach a value of around USD 76 Billion by 2030, at a compound annual growth rate (CAGR) of about 4.5% during the forecast period 2022 to 2030.”
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Aluminium cans have been used extensively for packaging in the food and beverages industry. It is considered one of the easiest ways of transporting food products and liquids without hampering the quality and taste of the Product for an extended period.
The purpose of using Aluminium cans for packaging food and beverages is to ensure that the packaging material has a minimum weight and maintains a low cost. The hotel industry uses Aluminium cans on a large scale as several products are outsourced from this industry to the consumers.
The increasing demand for sustainable packaging options that can maintain the authenticity of the products is helping the market for Aluminium cans to show a tremendous boost over the years. As a result, aluminium cans have provided the cheapest option for packaging food and beverages.
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The healthcare sector has used this packaging option as it does not change the chemical composition of the inside products. Aluminium cans are very easy to be recycled and reused, which makes them a suitable option as far as the environment is concerned. Scrap collectors emerged as a significant collection source where Aluminium cans are gathered and then sent for the process of recycling. Aluminium cans can be recycled multiple times, making them suitable for protecting the world from rapid climate change. These various reasons have emerged as the driving forces for the growth of the Aluminium cans market during the forecast period.
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The cost of the raw materials required for manufacturing Aluminium cans keeps on fluctuating according to the fluctuations in the global economy. Key market players face a significant challenge against the other cheaper options for packaging. The presence of plastic materials in the packaging industry provides a more affordable opportunity.
The weight of plastic packaging is relatively less than Aluminium cans; hence, the market faces a significant challenge during the forecast period. In addition, plastic packaging provides an easier disposal option to users than Aluminium cans; hence, the market faces another major challenge. These multiple reasons emerge as the restraints for the growth of the market.
Aluminium cans are very easy to handle as they bear a very minimum weight which does not alter the total weight of the food or beverages. Aluminium cans have very high resistance against corrosion, making them highly durable for carrying various products. The total weight of the Aluminium can is considerably lesser than the other firm packaging options. Aluminium cans are handy when a sturdy and formed packaging option is required to maintain the integrity of the Product.
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The rapidly increasing demand for Aluminium cans worldwide has emerged as a significant factor in providing various opportunities for the Aluminium cans market to increase its market size. The massive need for a suitable packaging option that can protect food and beverages against rapid climate change has made Aluminium cans a leading market player. Aluminium cans also protect against physical damage, making them a more suitable option for packaging. These multiple opportunities support the growth of the market.
The major challenge for Aluminium can market the availability of different packaging options, such as plastics and paper bags, which also provide environmental sustainability and match the rules and regulations the government laid down. However, consumer demand for plastic packaging has dramatically hampered the Aluminium can market’s growth.
The price of the raw material emerges as a significant challenge for the market as it keeps fluctuating according to the global economy, which hampers the final Product produced by the manufacturers. In addition, a huge step has been taken toward reducing the amount of wastage produced by the food and beverages industry which has hampered the use of Aluminium cans for packaging. Other cheaper options available in the packaging market have hampered the sales and demand for Aluminium cans to a great extent. These multiple challenges inhibit the growth of the market during the forecast period.
Key questions answered in this report:
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Based on Product, the Segment of two-piece has emerged as a significant market segment due to the increasing demand for this Product among the various industries. Furthermore, based on end-user, the Segment of beverages has emerged as the largest Segment under this category due to the increasing demand for this packaging material, preventing spillage. Furthermore, based on geography, the region of North America has emerged as the most significant market player for Aluminium cans due to the increasing demand for a suitable option resistant to climatic change. Finally, Segment 201 – 450 ml has emerged as a significant segment based on capacity due to its extensive use in the market.
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The region of North America emerged as the largest market for Aluminium cans due to the extensive use of this material for packaging in the food and beverage industry, which is proliferating and has an increasing population worldwide. In addition, the significant number of people carrying takeaway food and beverages worldwide has dramatically helped boost the Aluminium cans market. The geographical sector of Asia Pacific has also emerged as a significant consumer of Aluminium cans due to the increasing demand for this material for packaging, which maintains the physical integrity of the content.
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Segments covered in the report
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On the basis of Geography
The Middle East & Africa
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