The North American Aluminium Can Market: A Growth Trajectory
The aluminium can market in North America is experiencing a remarkable surge, promising a bright future ahead. With an estimated annual 5% average increase in aluminium beverage can consumption until 2030, the region is set to witness the sale of an impressive 152 billion units of beverage cans by that year. This statistic alone underscores North America’s pivotal role in the global aluminium can market.
Factors Driving Growth
Several factors contribute to the expansion of the North American aluminium can market. The emergence of new beverage categories, such as hard seltzers in the US, canned water in the US and Canada, and a growing demand for canned beer, not only escalates the need for aluminium beverage cans but also fuels production. The rising preference for metal cans over other container types is a notable trend in the market.
Sustainability and Environmental Consciousness
Aluminium is widely regarded as a sustainable material due to its high recyclability and lightweight properties. Today’s consumers are increasingly environmentally conscious, associating aluminium beverage cans with premium drinks. This perception aligns with the growing demand for aluminium beverage cans in the region.
Download White Paper: https://www.towardspackaging.com/personalized-scope/5173
Projected Demand for Aluminium Cans in North America (2022-2025)
Despite the high demand for aluminium cans, local aluminium producers, including rolling mills and billet re-melters, have faced challenges. They’ve experienced significant sales declines, leading to closures or operating at reduced capacity, sometimes as low as 30%-40%. This adjustment is necessary to align production with market demand fluctuations, ensuring operational efficiency amidst changing market conditions.
Future Growth Prospects
The North American aluminium can market is poised for further advancement, driven by evolving consumer preferences, eco-consciousness, and growth in the beverage sector. Agility is essential for industry players to navigate challenges and capitalize on future opportunities.
Industry Initiatives
For instance, in February 2023, metal packaging manufacturer Ardagh Metal Packaging announced the acquisition of a majority stake in digital can printers NOMOQ. Such strategic moves highlight the industry’s commitment to innovation and growth.
European Market Dynamics
The European market for aluminium beverage cans is witnessing a surge in demand, largely driven by consumption of soft drinks, bottled waters, beers, and seltzers. This growth trend is expected to continue over the next decade, accompanied by a substantial shift from tinplate to aluminium cans across the EU.
Global Aluminium Consumption (2022-2023)
In 2022, global aluminium consumption in packaging applications reached 95.7 million tonnes. By 2023, this figure is projected to rise to 97.1 million tonnes, with a growth rate of 3.3%. The surge in aluminium demand is primarily fueled by cans, packaging foil, and pharmaceutical packaging. Major beverage companies like Ball Corp and Crown are transitioning their production lines from tinplate to aluminium cans in countries like France and Spain, aligning with the lightweight, recyclable, and eco-friendly nature of aluminium.
Future Outlook
It is estimated that Europe alone will produce 109 billion aluminium cans by 2030, contributing significantly to the global beverage packaging market share. As environmental awareness grows, the preference for aluminium cans over traditional tinplate cans is expected to increase, driving the shift towards more eco-friendly packaging materials. This transition not only signifies a major global trend but also reshapes the European beverage industry, paving the way for increased usage of aluminium cans for years to come.
Own your copy of our reach study and stay informed: https://www.towardspackaging.com/price/5173
Get the latest insights on packaging industry segmentation with our Annual Membership. Subscribe now for access to detailed reports, market trends, and expert analysis tailored to your needs. Stay ahead in the dynamic packaging sector with valuable resources and strategic recommendations. Join today to unlock a wealth of knowledge and opportunities: Subscribe to Annual Membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/
Scrutinize More: