Recycled Aluminum Packaging Market to Hit $13.2 Billion by 2034 Fueled by Sustainability Push | Future Market Insights, Inc.

News provided by

May 16, 2024, 11:55 ET

The recycled aluminum packaging market is driven by environmental concerns and a push for sustainable practices. Consumers are increasingly demanding eco-friendly options, and recycled aluminum offers a lower carbon footprint compared to virgin aluminum. However, challenges include contamination in recycling streams and limited infrastructure. The market is expected to see significant growth, particularly in the US (4.9% CAGR) and the UK (4.6% CAGR), with advancements in recycling technologies and a growing focus on circular economies.

NEWARK, Del., May 16, 2024 /PRNewswire/ -- The recycled aluminum packaging market is predicted to be valued at US$ 7.5 billion by 2024. The market valuation is estimated to be US$ 13.2 billion by 2034, projected at a CAGR of 5.8%.

Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-19611

The surge in environmental consciousness among consumers and regulatory pressures to reduce carbon footprint propel the adoption of sustainable packaging solutions. Recycled aluminum offers a compelling alternative to traditional materials, aligning with sustainability goals due to its lower energy consumption and reduced greenhouse gas emissions during production.

Despite the favorable growth trajectory, certain challenges impede the expansion of the recycled aluminum packaging industry. Contamination in recycling streams poses a significant obstacle, lowering the quality of recycled aluminum and increasing processing costs. Inadequate recycling infrastructure and collection systems also hinder market development, limiting the availability of recycled aluminum material for packaging applications.

The recycled aluminum packaging industry presents promising opportunities for growth and innovation. With increasing emphasis on circular economy principles, there is a growing demand for closed-loop systems that promote the recycling and reuse of materials.

Companies investing in research and development of advanced recycling technologies, such as sorting and purification processes, can capitalize on these opportunities to enhance the quality and efficiency of recycled aluminum packaging.

Geopolitical tensions, trade disputes, and regulatory changes may impact the supply chain and trade dynamics, affecting market growth and profitability. Consumer perceptions and preferences, influenced by factors such as brand reputation and product aesthetics, can influence the adoption of recycled aluminum packaging solutions, posing a potential threat to market demand.

Key Takeaways from the Market Study

Based on the type, the cans and bottles segment is accounted to hold a market share of 28% in 2024.
The United States is expected to register at a CAGR of 4.9% by 2034.
The United Kingdom registers significant growth, projected at a CAGR of 4.6% by 2034.
Based on end-use, the food and beverage segment is accounted to hold a market share of 23% in 2024.

"The ascendence in environmental awareness and sustainability initiatives as global concerns regarding climate change, pollution, and resource depletion continue to escalate, with a growing emphasis on adopting eco-friendly packaging solutions. As consumers and businesses prioritize sustainability, the demand for recycled aluminum packaging is expected to rise, propelling growth," says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.).

Competitive Landscape

The recycled aluminum packaging industry is experiencing steady growth driven by an upsurge in environmental awareness and sustainability initiatives. With its lower environmental footprint compared to virgin aluminum, recycled aluminum packaging aligns with corporate sustainability goals and regulatory mandates.

As consumers and businesses prioritize eco-friendly solutions, demand for recycled aluminum packaging is on the rise. The trend is expected to fuel further market expansion in the coming years.

Some of the recent developments are:

In 2023, Norsk Hydro unveiled a strategic partnership with a recycling technology firm to enhance its recycling capabilities and develop innovative solutions for recycled aluminum packaging, reinforcing its commitment to sustainability and circular economy principles.

In 2023, Rio Tinto announced the expansion of its aluminum recycling operations, investing in new recycling facilities and technologies to increase its production of recycled aluminum for packaging applications, thereby contributing to the growth of the recycled aluminum packaging market.

Purchase now and gain full access to the Recycled Aluminum Packaging Industry research report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

More Valuable Insights Available

Future Market Insights offers an unbiased global recycled aluminum packaging market analysis, providing historical data from 2018 to 2023 and forecast statistics from 2024 to 2034.

To understand market opportunities, the recycled aluminum packaging industry is segmented based on Type (Bags & Pouches, Wraps & Rolls, Blisters, Cans & Bottles, Laminated Tubes, Trays, and Sachets & Stick Packs), Thickness (less than 7 microns, 7-10 micron, 11-18 microns, and above 18 microns), End-use (food & beverages, pharmaceuticals, personal care & cosmetics, and other industrial), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

About the Packaging at Future Market Insights

The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one billion+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

About the Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.) 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.

Explore FMI's Extensive Coverage in the Packaging Domain:

FMCG Packaging Market Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, 2023-2033. – Review and Request to Access the Sample Report.
Printed Aluminium Foil Packaging Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 – 2028. - Review and Request to Access the Sample Report.
Biodegradable Packaging Market by Material, Packaging Format, End-User & Region 2022 – 2032. - Review and Request to Access the Sample Report.
Recycled PET Packaging Market by Synthetic, and Mechanical Reusing, Forecast 2023-2033. - Review and Request to Access the Sample Report.
Lip Balm Tube Market by Manual and Automatic Through 2034. – Review and Request to Access the Sample Report.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube