The Asia-pacific aluminum beverage cans market is anticipated to be sized at USD 7,415.56 million by 2025 from USD 5,767.27 million in 2019.
Asia-Pacific is home to some of the most developed economies of the world, such as Japan and South Korea, while now, even China can be considered amongst these economies. The region, owing to the presence of economies such as China, India, Malaysia, and Thailand, provides considerable opportunities for beverage can producers to establish their manufacturing facilities in these economies. Skilled labor at a lower price, low land costs, incentives for manufacturers, and other favorable government policies to boost job creation has also given rise to the increase in consumer spending.
Apart from this, the trends in beverage consumption is largely influenced by the trendsetters in the West. The U.S. and Europe are, as of now, the trendsetters in terms of beverage consumption. These trends also involve the way in which the beverage is consumed. For instance, until a decade ago, glass bottles and plastic pouches ruled the beverage packaging in several emerging Asian economies. However, aggressive marketing and innovative product packaging have boosted the usage of aluminum cans by the consumers and the beverage manufacturing companies.
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Asia-Pacific will also be the region that will house a majority of the global population. It is estimated that around half of the global population will be residing in Asia-Pacific, especially in South and Southeast Asia. In addition to this, the population and geographical diversity provide the potential for the introduction of a wide variety of beverage products in the region, especially in Southeast Asia. For instance, despite the growing popularity of beer, thanks to the influences from the West, carbonated drinks, juices, and ready-to-drink teas are dominant segments in Indonesia. This variety will prove to be an important growth driver for aluminum beverage can producers provided they can adapt to local cultures in terms of beverage packaging and identify profitable opportunities and venture with domestic players.
COVID-19 Impact Analysis
The post-COVID-19 era is projected to be one with substantial changes being observed in domestic and international policies. This pandemic has brought in the temporary or permanent closure of small and medium-sized industries, which has resulted in partial and total income loss for the business owners and the workers. With a decrease in consumer income, the buying of essential goods will be the sole focus of the consumer. However, owing to the deep market penetration and the strong supply chain of established food and beverage brands in several economies, the demand for beverage cans will not witness a downfall.
Several economies have mandated complete lockdown, some of which extended a month, at least, which saw a rise in the consumption of packaged beverages. Aluminum cans are easy to dispose of than other packaging materials and are considered safe due to the airtight packaging and consumer perception. Furthermore, the label transparency and high recycling rate of the aluminum cans will lead to a further increase in demand for this product.
Consumption of beverages will surely witness a downfall from restaurants and cinema halls, but owing to these establishments remaining closed or shut down for the longest period of time, consumption from households has still kept a steady demand for these products. However, as trade treaties are being re-negotiated and geopolitical relations are being reformed, it is likely that manufacturers will look to move or expand their manufacturing facilities in emerging economies to boost their market penetration.
Aluminum Beverage Cans Market: Segmentation
By Product Type
By Distribution Channel
Central and South America and the Caribbean
The Middle East
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