Aluminum Beverage Packaging Market by Component - Global Forecast to 2029

The global aluminum beverage packaging market is segmented on the basis of product type into aluminum cans, kegs, barrel, bottle, drum, caps & closures, and others, out of which, the aluminum cans segment is projected to grab the largest market share by the end of 2021 on account of the high cost-effectiveness of aluminum cans in the packaging of beverages, along with several other favorable benefits of aluminum cans in comparison to plastic or glass beverage packaging, such as high recycling rate, denser shipping opportunities for beverage manufacturers, and others.

The global aluminum beverage packaging market is anticipated to grow with a notable CAGR during the forecast period, i.e., 2021-2029, owing to the numerous benefits associated with the use of aluminum in the packaging of beverages, such as reduction in transportation cost, enhanced product safety, and others, along with the increasing awareness for aluminum beverage packaging amongst the health-conscious consumers.

Regionally, the global aluminum beverage packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the Asia Pacific aluminum beverage packaging market is anticipated to hold the largest market share by the end of 2021 on account of the presence of several nations in the region who are leaders in the production of primary aluminum. Moreover, growing urbanization, increasing disposable income of individuals and others, which is contributing to the increasing demand for canned beverages, is also anticipated to contribute to drive the growth of the market in the region.

Favorable Benefits of Aluminum in Packaging of Beverages to Drive the Market Growth

Aluminum is known to be hundred percent recyclable, unlike other packaging materials, such as single-use plastics and PET bottles, which can only be down-cycled and not fully recycled. Moreover, the alloy is not susceptible to oxidation and protects the beverage from external light. Aluminum cans, which are widely used for beverage packaging, are designed according to the industrial regulatory standard GOST R 51756-2001 protocols, and therefore helps to withstand carbonation pressures of up to 90 pounds per square inch. Moreover, aluminum beverage containers support sustainable packaging methods as the use of such materials for beverage packaging helps to lower carbon emissions to the environment. Additionally, increasing awareness amongst consumers for the benefits of consuming beverages packed in aluminum packaging, along with the increasing efforts of aluminum beverage container manufacturers to raise awareness amongst the consumers for the benefits associated with such packaging methods are further anticipated to drive the market growth in the coming years.

However, the fluctuating prices of aluminum, which hampers the end product cost, is expected to operate as key restraint to the growth of the 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:

Ardagh Group S.A. (NYSE: ARD), Ball Corporation (NYSE: BLL), Crown Holdings, Inc. (NYSE: CCK), Amcor plc (NYSE: AMCR), COFCO Packaging Holdings Co., Ltd., Sonoco Products Company (NYSE: SON), Kian Joo Factory Berhad, Anheuser-Busch Companies, LLC, CANPACK Group, and Silgan Containers LLC (NASDAQ: SLGN).

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.