Aluminum Beverage Packaging Market is expected to display a steady growth of 4% due to Rising beverage consumption in emerging economies| UnivDatos Market Insights

NOIDA, India, Feb. 17, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Aluminum Beverage Packaging Market was valued at more than USD 50 billion in 2020 and is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into Product Type (Cans, Barrels & Drums, Caps & Closures, and Others); Beverage Type (Alcoholic beverages, Non-alcoholic beverages, and Others); and Region/Country.

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The aluminum beverage packaging market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Aluminum Beverage Packaging Market. The aluminum beverage packaging market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the aluminum beverage packaging market at the global and regional levels.

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Market Overview

The aluminum beverage packaging market is expected to witness a CAGR of around 4% during the forecast period. All of the beverage industry's packaging components made of various grades of aluminum are referred to as aluminum beverage packaging. The production and sourcing of aluminum beverage containers in a variety of sizes and shapes, as well as the provision of packaging services for beverage manufacturers, are examples of these components of the packaging. Aluminum packaging is mostly used to package alcoholic or non-alcoholic beverages in the beverage industry because it is a great barrier to light, moisture, and air. 

The market is expected to expand in the coming years due to a number of factors, including an increase in the production of both recycled and primary aluminum, a growing emphasis on adopting environmentally friendly solutions, rising public awareness of environmental pollution, and increasingly stringent government regulations aimed at reducing the amount of waste produced by single-use packaging products.

Some of the major players operating in the market include Ardagh Group S.A., Ball Corporation, Crown Holdings Inc., Amcor plc, COFCO Packaging Holdings Co. Ltd., Sonoco Products Company, Kian Joo Factory Berhad, Anheuser-Busch Companies LLC, CANPACK Group, and Silgan Containers LLC.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted all sectors and has transformed the way healthcare is delivered. The pandemic also had a significant impact on the market of aluminum beverage packaging, majorly attributable to the shutdown of manufacturing facilities in compliance with government regulations, to reduce the spread of disease.

The global aluminum beverage packaging market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on product type, the market is segmented into cans, barrels & drums, caps & closures, and others. Among them, the cans category witness significant growth during the forecast period as it is one of the most popular types of packaging used for packaging different types of beverages. Apart from this, factors such as ease of transport and storage make it the most preferred choice by consumers. However, the cartons segment is also anticipated to witness considerable growth during the forecast period.
• On the basis of beverage type, the market is categorized into alcoholic beverages, non-alcoholic beverages, and others. Among these, non-alcoholic beverages to hold a significant share in the market in 2020. This is mainly due to the rising consumption of various non-alcoholic beverage consumption such as juices, purees, sauces, soft drinks, and RTD (Ready to Drink) products, among others. For instance, as per Food Export Association 2019, RTD tea and coffee sales have increased by approximately 24% over the past four years.

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Aluminum Beverage Packaging Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World

APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly ascribed as Asia-Pacific is the largest consumer of food and beverages globally and witnessing a higher demand for packaged items because of its improved lifestyles and increasing purchasing power of the people. This would increase the demand for aluminum beverage packaging materials market in the region as it is chemically neutral, corrosion-resistance, non-toxic, and hygienic. These properties make it a kind of packaging material that creates a strong barrier for preserving food and beverages and helps in waste reduction. These factors are further driving the growth of the market during the forecast period.

The major players targeting the market include

• Ardagh Group S.A.
• Ball Corporation
• Crown Holdings Inc.
• Amcor plc
• COFCO Packaging Holdings Co. Ltd.
• Sonoco Products Company
• Kian Joo Factory Berhad
• Anheuser-Busch Companies LLC
• CANPACK Group
• Silgan Containers LLC

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Aluminum Beverage Packaging Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the aluminum beverage packaging market?
• Which factors are influencing the aluminum beverage packaging market over the forecast period?
• What are the global challenges, threats, and risks in the aluminum beverage packaging market?
• Which factors are propelling and restraining the aluminum beverage packaging market?
• What are the demanding global regions of the aluminum beverage packaging market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirements of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

About UnivDatos Market Insights (UMI)

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Aluminum Beverage Packaging Market Report Coverage

About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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UnivDatos Market Insights
Ankita Gupta
Director Operations
Email: [email protected]
Website: https://univdatos.com/

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