Millennial Beverage Boom Drives Global Aluminum Cans Market to US$ 92.31 Billion by 2033 with a 4.7% CAGR

Aluminum Cans Market

The global aluminum cans market is on a trajectory of substantial growth, with an expected Compound Annual Growth Rate (CAGR) of 4.7% between 2023 and 2033. Sales of aluminum cans, often referred to as tin cans, are forecasted to surge to US$ 92.31 billion by 2033, up from US$ 58.31 billion in 2023. This remarkable expansion is fueled by the growing consumption of beverages, particularly among the millennial demographic.

Several key factors contribute to this market’s steady growth. Firstly, there is a rising consumer preference for convenient and sustainable packaging options, with aluminum cans fitting the bill perfectly. Additionally, the beverage industry plays a pivotal role, with carbonated soft drinks and beer being primary products packaged in aluminum cans. Furthermore, sectors such as energy drinks, canned water, and ready-to-drink beverages have increasingly adopted aluminum cans for their packaging needs.

The environmental benefits of aluminum cans are undeniable. They are highly recyclable, with aluminum being a material that can be recycled indefinitely without a loss of quality. Many countries have efficient recycling systems in place, contributing to the overall sustainability of aluminum cans as a packaging choice. With the ongoing global emphasis on reducing plastic usage and addressing environmental concerns, the aluminum cans market is poised for continued growth and dominance in the packaging industry.

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The Growth Trajectory

The aluminum cans market has been on a steady ascent, fueled by the growing inclination toward packaged and processed food products and the burgeoning demand for beverages, especially in North America. According to an analysis by Future Market Insights (FMI), the market is projected to expand at a Compound Annual Growth Rate (CAGR) of 4.7% between 2023 and 2033. By 2033, sales of aluminum cans are anticipated to reach an impressive US$ 92.31 billion, up from US$ 58.31 billion in 2023. The United States, as one of the world’s largest markets for food consumption, stands at the forefront of this growth, embodying the intersection of increased beverage consumption, fast-food culture, and sustainability aspirations.

A Catalyst for Market Expansion: Shifting Consumption Patterns

The beverage industry has been a cornerstone of the aluminum cans market’s surge. Carbonated soft drinks and beer have traditionally been the primary beverages packaged in aluminum cans. However, an array of other sectors, including energy drinks, canned water, and ready-to-drink beverages, have progressively embraced the usage of aluminum cans. This diversification can be attributed to the intrinsic advantages offered by aluminum cans.

Advantages of Aluminum Cans

One of the pivotal factors driving the adoption of aluminum cans is their inherent convenience and practicality. Aluminum cans are lightweight, portable, and easy to stack, making them an optimal choice for on-the-go consumers. They offer a robust barrier to external factors, ensuring product protection and extending shelf life. These attributes align seamlessly with the fast-paced lifestyle that characterizes contemporary society.

Aluminum Cans Market Demand Analysis

The rise of closed-loop recycling practices has opened a new opportunity for the rapid adoption of aluminum cans in the packaging industry. Aluminum has emerged as the preferred material for canning food and merchandise in various regions around the world.

Aluminum cans are a packaging material with numerous advantages. These advantages include infinite recyclability, long shelf life, lightweight, convenience, improved durability, and corrosion resistance. They offer enhanced product protection against oxygen, light, moisture, and other factors, making them increasingly popular for canned products.

The market is driven by the rising consumer preference for packaged and processed food, particularly among working individuals. Canned vegetables, for example, retain freshness and nutrients, ensuring the year-round availability of seasonal goods. Cost-effectiveness and a wide variety of options also attract consumers.

The market has also evolved in response to the growing demand for sustainable and environmentally friendly beverage packaging. Craft beer packaging has played a leading role in this trend, with aluminum widely used for canning microbrew beers due to its strong ecological track record. This has made a significant contribution to the aluminum cans industry expansion.

Aluminum cans are also increasingly used for non-food items like cosmetics, pharmaceuticals, oil, and chemicals, further boosting their demand in various sectors. Leading market players are investing in expanding production capacity. The aim is to meet the growing demand for sustainable products. The paints and coatings industry has played a notable role in driving this demand for aluminum.

Global efforts to reduce plastic pollution are promoting the adoption of aluminum in packaging. Regulatory measures in developing and developed economies have incentivized the use of aluminum cans across industries, fueling market growth. Brands in developing economies have increasingly recognized the sustainability benefits of aluminum. This has played a significant role in driving the momentum of the aluminum cans sector.

Regional Analysis: 

North America and Europe have emerged as profitable markets for the aluminum cans industry. There has been a growing trend of consumers preferring canned beverages. Consumers prefer canned beverages over other packaging formats. The convenience of canned drinks drives the preference. Portability is another factor contributing to the choice of canned beverages. This shift in consumer preferences has further fueled the demand for aluminum cans. The demand for aluminum cans is mainly generated by the beverage sector. Carbonated soft drinks, beer, energy drinks, and other non-alcoholic beverages are critical contributors to market growth.

Asia Pacific is rapidly demonstrating itself as an appealing market. The increasing population and rising disposable incomes in countries like China, India, and Southeast Asian nations have led to a greater demand for packaged beverages. This, in turn, drives the demand for aluminum cans as a preferred packaging solution. Additionally, there is a growing awareness of the environmental benefits of aluminum cans compared to other packaging materials. As sustainability becomes an important consideration for consumers and brands, the demand for aluminum cans has increased.

Key Takeaways from the Aluminum Cans Market:

  • The aluminum cans industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 2.8% through 2033
  • The United States held an 18% share of the global aluminum cans industry in 2022
  • With a CAGR of 6.5% over the forecast period, India is predicted to develop rapidly in the aluminum cans industry
  • In 2022, Japan had a 5.8% share of the aluminum cans industry globally
  • The aluminum cans industry in China is expected to increase, registering a CAGR of 6.0% over the forecast period
  • Germany accounted for 6.1% of the global aluminum cans industry in 2022

Consequently, the growing consumption of beverages among millennials across the globe will also aid the growth in the market. Furthermore, brand owners are treating aluminum cans as a promotional tool, which is expected to create growth opportunities for the market players.

Key players are also focusing on improving the shapes and sizes to woo the end-users. Unique shapes, finishes, and features will also improve the shelf visibility of these cans. Hence, the adoption of aluminum cans to achieve product differentiation, and eye-catchy prints will result in increased sales.

Manufacturers are focusing on product offerings and developing self-chilling and self-heating cans in metal can packaging innovations, which in turn is expected to boost the demand for aluminium cans over the forecast period.

Key Takeaways

  • By product type, the 2-piece aluminium cans segment is anticipated to remain the leading segment, accounting for 52% of the market share in 2021.
  • Based on capacity, more than 1000ml segment is projected to register a CAGR of 4.9% during the forecast period.
  • In terms of end-use, the beverage industry is projected to remain primary end user in aluminium cans market, holding around 79% of the market share in 2021.
  • South Asia and East Asia, cumulatively, will account for nearly 40% of the global aluminium cans market in 2021.
  • Europe and North America, collectively, are projected to hold approximately 48% of the market share in 2021.

“Aluminium cans manufacturers are likely to collaborate with leading food and beverage companies to develop and innovate convenience technology for aluminium cans in order to maximize profits. Key players are also focusing on innovation in coating materials, patterns, and unique shapes to meet the requirement for product distinctiveness, which is in turn creating remunerative opportunities for the growth of the market” says an FMI analyst.

Aluminium Cans Market Landscape

Crown Holdings Inc., Ball Corporation, Ardagh Group S.A., are the top players operating in the target market. Furthermore, Silgan Containers LLC, Toyo Seikan Co., Ltd., Nampak Ltd., CCL Industries Inc., CPMC Holdings Inc. Kian Joo Can Factory Berhad, CAN-PACK S.A. are also noticeable players in the market. The Tier 1 players in the market hold 25-30% in the global market for aluminium cans.

Request Report Methodology:

Aluminum Cans Market by Category

By Product Type:

  • 1-piece Cans
  • 2-piece Cans
  • 3-piece Cans

By Capacity:

  • Up to 200ml
  • 201-450ml
  • 451-700ml
  • 701-1000ml
  • More than 1000ml

By End-use Industry:

  • Food
    • Fruits & Vegetables
    • Ready-to-eat
    • Meat, Poultry, & Seafood
    • Pet Food
    • Bakery & Confectionery
    • Others
  • Beverages
    • Alcoholic
    • Non-alcoholic
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Paints & Lubricants

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

What to Expect in Our Report?

(1) A complete section of the Global Aluminum Cans market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.

(2) Another broad section of the research study is reserved for regional analysis of the Global Aluminum Cans market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.

(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Aluminum Cans market.

(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Aluminum Cans market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.

(5) Readers are provided with findings and conclusion of the research study provided in the Global Aluminum Cans Market report.


Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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