Aluminium cans currently represent one of the most widely used containers for packaging purposes. They are often made from recycled aluminium and act as a barrier against air, light and moisture. This also makes them rust-resistant and capable of preserving the flavour and quality of the contents. In addition to this, aluminium cans have high strength and do not require much care during distribution and handling. Apart from this, they are lightweight, offer efficiency while shipping and storage, and limit carbon emissions. Other benefits offered by aluminium cans include recyclability, malleability, corrosion resistance and low cost of production. A new research report by IMARC Group, titled “Aluminium Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, estimates that the market reached a volume of more than 290 Billion Cans in 2017. The report further anticipates the market to reach a volume of 333 Billion Cans by 2023, at a projected CAGR of over 2% over the forecast period.
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Global Aluminium Cans Market Drivers/Constraints:
- There has been a shift in the consumer preference towards packaged food and beverages owing to a significant rise in disposable incomes. This is one of the major factors which is driving the growth of the global aluminium cans market.
- There has been a significant rise in environmental concerns and the consumers have also become aware about the recovery and recyclability properties of aluminium cans. This has, in turn, contributed towards an augmented demand for aluminium cans across the globe.
- Governments of various nations have implemented numerous policies and regulations for the manufacturers to produce better-quality packaging which is a primary factor positively influencing the market growth.
- Over the recent years, the consumers have started using packaging made of alternate materials including PET and glass. This acts as one of the major obstacles which is hindering the growth of the aluminium cans market.
On the basis of application, the market has been segmented into the beverage and food sectors. Amongst these, the beverage sector dominates the market, holding the majority of total share on account of convenient packaging and the availability of innovative shapes and sizes of aluminium cans.
On a geographical front, North America currently represents the largest market for aluminium cans, accounting for the more than one-third of the total global demand for aluminium cans. It is followed by Western Europe and Asia-Pacific.
The aluminium cans market is concentrated in nature with the presence of few 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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