Aluminum Foil Packaging Market Overview:
According to the USD Analytics published latest research report, the global “Aluminum Foil Packaging Market” is expected to grow at a tremendous CAGR of 4% during the forecast period 2023-2030.
Aluminum foil is an important component of laminates and is often used in food packaging. It outperforms all other plastic laminate materials in terms of resistance to moisture, oxygen, and other gases, as well as the influence of light. The rise of the pharmaceutical and food, and beverage sectors has resulted in an increase in demand for these businesses’ goods. The Earth is abundant in aluminum, which is also completely recyclable.
Aluminum foil is rapidly being utilized in food and beverage packaging, and it is expected to play a significant role in the industry’s development. The processed food industry is rapidly developing as a result of changing consumer habits and a rise in urban population.
Furthermore, the development of the food and beverage sector is being supported by the availability of packaged food goods via online channels, which is expected to have a positive impact on industry growth. To develop lightweight packaging, more and more flexible films are being mixed with aluminum foil. Pet food, tuna, coffee, and soups alone produce 13 billion packets globally, making them viable alternatives to standard plastic packaging.
Market Drivers:
- As consumer knowledge of the negative environmental consequences of plastic grows, the need for alternative packaging solutions grows, which is excellent news for the aluminum packaging industry.
- The fast-paced lifestyle, the ease of ordering via online platforms, and the flexibility to choose from a diverse choice of restaurants are expected to boost the sector in the near future.
- Food, tobacco, cosmetics, and pharmaceutical sectors are expected to be the primary drivers over the forecast period.
- Glass, paperboard, pulp, plastic, and other alternative packaging materials are expected to provide market resistance.
- Furthermore, the new ecologically hazardous mining processes required for metal manufacture prohibit the metal from being recovered from recycling throughout the manufacturing process.
Market Restraints:
The price of raw materials has a considerable influence on market players’ profit margins. The firm is expected to be concerned about the availability of raw materials at affordable or consistent rates as a consequence of shifting aluminum prices.
Another problem restricting business development is the growing adoption of low-cost alternatives made of flexible plastic, such as bags and pouches.
Market Trends:
Many organizations employ alternative packaging materials such as paperboard, glass, pulp, and plastic to save money or provide more upmarket packaging.
Growth in the tobacco sector is expected to enhance demand for aluminum foil throughout the forecast period. According to British American Tobacco, the yearly worldwide cigarette consumption is roughly 5,600 billion. As a consequence, it is expected to dominate the market in the near future.
Although aluminum foil packaging is appropriate and has other desired properties, it is harmful because aluminum may react with food when it comes into contact with the foil since it is not fully inert. Despite the fact that conventional foil-wrapped food cannot be cooked in an oven or microwave, the majority of people do.
Recent Developments:
- Governor Andy Beshear announced the development of an aluminum foil manufacturing plant in Elizabethtown by LOTTE Aluminum Materials LLC in August 2022. The $238.7 million investment is expected to generate 122 full-time employees.
- The US Department of Commerce launched probes into Chinese aluminum foil imports that are made or finished in Thailand and South Korea in July 2022. According to Commerce Department unfair trade orders issued in April 2018, these imports are unfairly evading the payment of antidumping and countervailing duties on Chinese imports of aluminum foil.
Segmentation Analysis:
Type- • Foil Wraps • Pouches • Blisters • Containers • Others End-Use- • Food and Beverages • Tobacco • Pharmaceuticals • Cosmetics • Others
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Based on Product Aluminium Foil Wraps Dominated the Market:
The segment of aluminum foil wraps led the market for aluminum foil packaging in 2022, with a sales share of more than 30%. They are one of the layers of snack pouches, beverage cartons, candy wraps, confectionery wraps, and medicinal pouches or bags. Because of their wide variety of applications in end-use industries, foil wraps are a well-known product category.
Geographical Analysis:
The global aluminum foil packaging market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Asia-Pacific Aluminum Foil Packaging Market:
Asia Pacific led the aluminum foil packaging market in 2022, accounting for 38% of total sales. The sector is developing across Asia Pacific as a result of the region’s growing middle-class and consumer markets for items like food, drinks, and medicines. India and China are expected to become the product’s two most important markets due to considerable manufacturing investments and vast customer populations.
Pharmaceutical firms in the United States are progressively adopting flexible packaging options such as blisters due to their efficient single-dose packaging and convenience of usage as a consequence of this promising trend toward blister packs, aluminum foil packaging is expected to have tremendous growth potential.
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Competitive Landscape:
The major companies contributing to the global aluminum foil packaging market growth include Amcor Ltd., Alcoa Corporation, Reynolds Group Holdings Limited, Novelis Inc., Hindalco Industries Limited, Constellium SE, Ball Corporation, Tetra Pak International S.A., Hulamin Limited, Alufoil Products Pvt. Ltd., Eurofoil, Plus Pack AS, Nicholl Group Limited, Ardagh Group S.A., Carcano Antonio S.p.A., Zenith Alluminio Srl, Comital Group, Gulf East Paper and Plastic Industries LLC, Polinas Plastik Sanayi ve Ticaret A.S., K&S Aluminium Foil Ltd.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 6 Months.
2) Any query regarding the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable market size projections (2022-2030).
- Identify commercial opportunities in the global aluminum foil packaging market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
- Excel data sheet with thousands of the global aluminum foil packaging market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players.
- The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.
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