Hyderabad, Aug. 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Aluminum Cans Market Report (2023-2028)," the market is estimated at USD 54.62 billion in 2023. It is expected to register a CAGR of 3.93% during the forecast period.
Aluminum beverage cans are currently the most sustainable packaging material. They have a more recycling rate than other packaging types. Aluminum cans are stackable, strong, and lightweight and are used to pack and transport more products using less material.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 54.62 billion |
| Market Size (2028) | USD 66.23 billion |
| CAGR (2023-2028) | 3.93% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing awareness of reducing greenhouse gas emissions. |
| The higher recycling rate of aluminum cans. |
Who are the Top Companies in the Aluminum Cans Market?
The aluminum cans market is highly fragmented due to the presence of several global and domestic industry players. The market players are engaged in strategies like partnerships and product portfolio development to enhance their market presence.
Significant players in the aluminum cans market are,
- Ball Corporation
- Ardagh Group SA
- Crown Holdings Inc.
- Silgan Holdings Inc.
- CAN-PACK SA
- CCL Container Inc. (CCL Industries Inc.)
- Tecnocap Group
- Saudi Arabia Packaging Industry WLL (SAPIN)
- Massilly Holding SAS
- CPMC HOLDINGS Limited (COFCO Group)
Other Reports That Might Be of Your Interest:
- Thailand Folding Carton Packaging Market Report - The Thai folding carton packaging market value is estimated at USD 2.38 billion in 2023. It is expected to reach USD 3.15 billion by 2028, registering a CAGR of 5.74% during the forecast period (2023-2028).
- GCC Flexible Packaging Market Report - The GCC flexible packaging market size is estimated at USD 4.37 billion in 2023. It is expected to reach USD 5.34 billion by 2028, registering a CAGR of 4.07% during the forecast period (2023-2028).
Key Highlights from the Aluminum Cans Market Report:
Demand for Canned Food and Beverage to Drive the Market
- Consumers are opting for easy-to-cook food due to changing lifestyles and the growing rate of urbanization. Therefore, the demand for processed, frozen, and ready meals is increasing, leading to the dominance of can packaging.
- Aluminum cans are also used for beverages, with the dominance of canned wine, cocktails, and hard and soft drinks being packed in metal cans.
North America to Hold Significant Market Share
- North America registers a prominent share of the market in terms of revenue due to increasing awareness of using sustainable packaging materials.
- In the United States, the demand for aerosol cans is increasing due to the expansion of the personal care sector, which deals with consumers’ ability to purchase luxury goods.
What are the Latest Developments in the Aluminum Cans Market?
- In October 2022, Ball Corporation expanded its infinitely recyclable ball aluminum cup portfolio by launching two similar small-sized ones.
- In September 2022, Crown Holdings Inc. announced a 4% global average reduction in its standard 12 oz. can weight and efforts to achieve superior recyclability properties of its metal.
Mordor Intelligence has Segmented the Aluminum Cans Market Based on Type, End-user Industry, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Slim
- Sleek
- Standard
- Other Types
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Beverage
- Food
- Aerosol
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Aluminum Cans Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Beer Cans Market Report - The beer cans market is expected to register a CAGR of 3.50% during the forecast period (2023-2028).
- Latin America Beer Cans Market Report - The Latin American beer cans market is expected to register a CAGR of 5.29% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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