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.

- An increase in the intake of processed food & beverages, an increase in the shelf life of products and growth in the disposable income of consumers, as well as its ability to customize the packaging with colors, 3D prints, and embossing stimulate the growth of the aluminum cans market globally.

- The increased emphasis on reducing the amount of plastic packaging, globally, is due to concerns regarding the material being non-recyclable, the rate at which it is being produced, and the damage it causes to the marine life. The effect it has on the climate by polluting the ocean has triggered the market growth of aluminum cans. For instance, The WWF reported that 8 million metric ton of plastic are dumped in our oceans every year, and 90% of seabirds have plastic in their stomachs, with 53% originating from Southeast Asia.

- The impact of the outbreak of Covid-19 on the market is expected to be significant in the short-run as the global lockdown has brought the entire packaging supply chain to an almost grinding halt worldwide. This will cause the demand and supply system to be suboptimal and reduce the profit margins. But, in the long-run, with businesses restarting normally and e-commerce trends on the rise, the market is expected to rebound.

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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.

North America to Hold a Significant Share in the Market

- North America holds the largest market share in terms of revenue due to the growing concerns regarding the use and consumption of sustainable packaging materials. It accounts for more than one-third of the total global consumption of aluminum cans.

- The presence of aluminum producers and demand from packaging firms is also boosting the growth in North America. According to World Aluminum Organization, 5,112 thousand metric ton of primary aluminum are produced worldwide as of February 2020, out of which 312 thousand metric tonnes are produced in North America, which helps to grow the aluminum can industry in this region.

- Aluminum cans have a higher recycling rate and more recycled content than competing package types. According to the Aluminum Association, it’s one of the most recycled materials on the market. Recycling saves more than 90% of the energy required to produce new metal hence reducing the cost of production. In the United States, two aluminum cans are recycled for every three cans shipped across the region. Factors such as these will boost market growth.

- In the US, 70% of the plastic collected for recycling goes to landfill, and the rising emphasis on reducing carbon footprint by controlling climate change is one of the growth drivers for aluminum cans in the region.

Competitive Landscape

The aluminum cans market is highly fragmented, owing to the presence of various global and local industry players. Vendors in this market participate based on product portfolio, differentiation, and pricing. 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.

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