Global Aluminum Beverage Packaging Market to Grow with a CAGR of 4.05% During 2021-2030; Market to Grow on Account of Growing Focus for Environmentally Sustainable Packaging
Kenneth Research published a report titled “Aluminum Beverage Packaging Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global aluminum beverage packaging market in terms of market segmentation by product type, beverage type, packaging type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global aluminum beverage packaging market is anticipated to grow with a CAGR of 4.05% during the forecast period, i.e., 2021-2030. The market is segmented by product type into cans, barrels & drums, caps & closures, and others, out of which, the cans segment is expected to garner the largest revenue of USD 63294.63 Million by the end of 2030. Moreover, in the year 2020, the segment generated a revenue of USD 41453.31 Million.
The global aluminum beverage packaging market is estimated to garner a revenue of USD 84437.20 Million by 2030, up from a revenue of USD 57158.22 Million in the year 2020. One of the major factors anticipated to drive the growth of the market is the stringent government regulations to lower the packaging wastes generated from the use of single-use packaging materials. Besides this, the benefits associated with the use of aluminum as a packaging material is also expected to contribute numerous opportunities for the growth of the market in the coming years.
Geographically, the global aluminum beverage packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in the Asia Pacific is expected to generate the largest revenue of USD 38503.36 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 23720.66 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Demand for Packaged Beverages to Drive the Growth of the Market
The consumption of packaged alcoholic beverage around the globe in the year 2020 registered to close to 240 Billion liters. Moreover, consumption of fruit & vegetable juices, and carbonated soft drinks (CSD) registered to around 85 Billion liters and 210 Billion liters respectively.
Backed by the rising demand for different types of packaged beverages amongst individuals, there is a growing need amongst beverage manufacturers to use packaging materials to package their products. Growing awareness for the environmental challenges associated with single-use packaging materials, along with the high recycling rate of aluminum, are some of the major factors for which beverage manufacturers are increasingly preferring for the metal to pack their beverages. Such a factor is therefore anticipated to drive the growth of the market in the coming years.
However, the fluctuating prices of aluminum, and the rising concern for GHG emitted during aluminum production are expected to operate as key restraint to the growth of global aluminum beverage packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global aluminum beverage packaging market which includes company profiling of Crown Holdings, Inc., Amcor plc, Ball Corporation, Sonoco Products Company, Novelis Aluminum, Silgan Holdings Inc., Ardagh Group S.A., Al Suhaimi Holding Company, CANPACK S.A., Envases Group, CCL Container, Technocap S.p.A., Massily Holding S.A.S, Universal Can Corporation (UNICAN), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aluminum beverage packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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