Kenneth Research has released a report titled “Aluminum Beverage Packaging Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
Close to 240 Billion liters of packaged alcoholic beverage was consumed worldwide in the year 2020. Additionally, fruit & vegetable juices as well as carbonated soft drinks (CSD) consumption in the same year, registered near about 85 Billion liters and 210 Billion liters respectively.
The statistics portray the growing demand for different types of beverages worldwide. Most of the beverage packaging cost significantly high to the beverage manufacturers and also contribute majorly to packaging wastes due to the use of single-use packaging materials. This, as a result, has raised the necessity amongst the beverage manufacturers to adopt eco-friendly and cost-effective packaging solutions. Aluminum, which is known to have a high recyclability rate, is therefore widely preferred amongst the beverage manufacturers as the metal is not just environmentally friendly, but also allows a greater canvas for product branding to the beverage manufacturers. Such beneficial properties of the metal is therefore expected to drive the demand for aluminum beverage packaging, and in turn, contribute to the growth of the market in the coming years.
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 estimated to garner a revenue of USD 84437.20 Million by 2030. Moreover, in the year 2020, the market generated a revenue of USD 57158.22 Million. The market is segmented by product type into cans, barrels & drums, caps & closures, and others. By the end of 2030, the market is projected to garner the largest revenue of USD 63294.63 Million, up from a revenue of USD 41453.31 Million in the year 2020.
By region, the global aluminum beverage packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in the Asia Pacific, amongst the market in all the other regions, is expected to generate the largest revenue of USD 38503.36 Million by the end of 2030, up from a revenue of USD 23720.66 Million in the year 2020.
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.
However, the fluctuating prices of aluminum, and the rising concern for GHG emitted during aluminum production are some of the major factors predicted to hinder the growth of the market in the coming years.
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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Aluminum Beverage PackagingMarket: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global aluminum beverage packaging industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global aluminum beverage packaging market in the near future.
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