Aluminum Cans Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Aluminum Cans Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Aluminum Cans Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Aluminum Cans Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The aluminum cans market is expected to registering a CAGR of 3.2% over the forecast period of 2021-2026.
The product is gaining prominence due to its distinct features, such as lightweight, stackable, strong, resistance to transportation, hermetically sealed cover, and irregular handling, and easy recyclability allowing brands to package and transport more beverages using less material.
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Recent developments in the market are:
– August 2019 – Novelis and Ball announced sustainable aluminum can packaging where the goal is to bring light-weighting into applications. It is an essential part of Novelis European production system, which has enough capacity to recycle every aluminum beverage that can be sold in the United Kingdom.
– January 2019 – Ball Corporation introduced new technology at the ADF&PCD exhibition in Paris in January 2019, an event for the aerosol, dispensing, perfume and cosmetic packaging community. The company introduced its 360 aerosol can that brought another dimension to can contouring, using a process that allowed custom shaping, symmetrically or asymmetrically, up to the full circumference of the can, ultimately benefiting both, brand owners and end consumers.
Key Market Trends
Beverage Industry is Expected to Occupy Significant Market Share
– Aluminum cans can be recycled repeatedly in a closed cycle, which acts as a major driver for the growth. Thus few companies are opting aluminum cans to make a shift toward sustainability by reducing the carbon footprint. For instance, Coca-Cola Co.s Dasani water brand will soon be available in cans in the United States as part of its efforts to reduce plastic waste.
– Also, the superior properties offered by the product such as low cost of production, strength, high reflectivity to heat & light, protection against oxygen, moisture and various other contaminants providing extended shelf life to products will contribute towards enhancing the growth of aluminum cans in the beverage as well as other packaging industries.
– However, PET bottle consumption is increasing at the global level and in most regions, mainly due to healthy living being one of the critical drivers. Put simply, people are choosing a bottle of water over a can of fizzy drink. This is acting as a barrier for the growth of aluminum cans in the beverage industry.
– The price of aluminum is higher as compared to polyester for PET, making it suitable for a higher value beverage like beer, which requires more durable material as compared to water bottles. Also, the cost impact is amplified. Additional costs are typically pushed along the value chain to the customer. Price sensitive consumers may not tolerate the increase, so brand owners may be forced to absorb the additional cost. Therefore, the industry has its own set of benefits from aluminum but has major barriers while entering markets, such as drinking water, thereby missing the opportunity to cater to an endless consumer base.
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Aluminum Cans Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Aluminum Cans market share, latest trends, key players, and their projections for the future. Also, Aluminum Cans Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Aluminum Cans Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Aluminum Cans market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Aluminum Cans industries have also been greatly affected. With the slowdown in world economic growth, the Aluminum Cans industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Aluminum Cans market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Aluminum Cans market size will be further expanded, we expect that by 2027.
The Study Objectives of Aluminum Cans Market Report Are:
- Focuses on the key Aluminum Cans manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
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The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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