The aluminium cans market is poised for substantial growth, with a projected valuation of US$78.11 billion by 2030, compared to US$49 billion in 2022. This anticipated surge represents a robust Compound Annual Growth Rate (CAGR) of 6% between 2023 and 2030, according to the latest report from Fairfield Market Research.
Sustainability and Recycling Drive Market Growth
The aluminium cans market is experiencing significant growth, driven by a growing emphasis on sustainability and recycling. As the world rallies against single-use plastics, aluminium cans have emerged as a sustainable alternative, with their recyclability and low energy use setting them apart.
Beverage Industry Boosts Demand
The development of the beverage industry, encompassing carbonated soft drinks, energy drinks, alcoholic beverages, and non-alcoholic beverages like water and juices, is a major driver of aluminium can demand. As consumer preferences evolve and the global population continues to grow, the demand for convenient and portable beverage packaging remains strong.
North America and Asia Pacific Thrive
The aluminium cans market is thriving in North America, driven by the demand for extended food shelf-life, the flourishing fast-food culture, and an increased focus on food safety. Aluminium cans are preferred for their ability to preserve food freshness, making them ideal for perishable goods.
In the Asia Pacific region, the market is expanding due to increasing urbanization, sustainability concerns, and the rising popularity of craft beverages.
Sustainability and Circular Economy: A Promising Path
Aluminium cans are inherently recyclable without any loss in quality, aligning with sustainability objectives and reducing the carbon footprint. As the global focus on reducing plastic waste intensifies, aluminium cans are increasingly favored for their eco-friendly attributes.
Craft Beverage Partnerships: A Golden Opportunity
Craft beverage partnerships represent a promising opportunity for the aluminium cans market. Craft producers of beer, cider, artisanal sodas, and specialty beverages increasingly prefer aluminium cans for packaging their products. Collaborations between aluminium can manufacturers and craft producers can lead to customised and visually appealing packaging, helping craft brands stand out on store shelves.
Regulatory Landscape Drives Sustainability
Regulatory changes worldwide are incentivizing greater adoption of aluminium cans. Some regions have introduced deposit return schemes, encouraging consumers to return used aluminium cans for recycling. Minimum recycling quotas and extended producer responsibility (EPR) programs have also been established to support recycling infrastructure and promote recyclable packaging materials like aluminium.
Top Players in the Market
The global aluminium cans market is characterized by a concentrated landscape, with key players including Nussbaum Matzingen AG, Canpack S.A., Pohli Verpackungen, Novelis Inc, Ball Corporation, Crown Holdings Inc, Ardagh Group S.A., Baosteel Metal Co. Ltd., Showa Aluminium Can Corporation, Envases Universales, Kian Joo Group, CMPC Holdings Limited, and Norsk Hydro ASA.
Global Aluminium Cans Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -(By Product Type Coverage, By Capacity Coverage, By End-use Industry Coverage, By Geographic Coverage and Leading Companies): https://www.fairfieldmarketresearch.com/report/aluminium-cans-market
Read Our Report:https://www.linkedin.com/pulse/aluminium-cans-market-future-trends-demands-forecast-2023-2030-9dskf
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