According to the latest report by IMARC Group, titled “Aluminum Foil Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global aluminum foil packaging market size reached around US$ 18 Billion in 2020. Aluminum foil is a lightweight metal-based material manufactured in varying thicknesses. It is inexpensive, greaseproof, non-toxic, and durable in nature. This material can be produced for wrapping, lining, cooking, and covering processes during the storage and preparation of food, cosmetics and pharmaceutical products. Aluminum foil packaging protects the product against moisture, oxygen, odor, microorganisms, and light. It is utilized in semi-rigid, flexible and rigid packages for minimizing heat damage during in-thermal processing.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Aluminum foil Packaging Market Trends:
The escalating demand for convenient-to-transport and easy-to-use packaging options is significantly influencing the global aluminum foil packaging market growth. The inflating sales of fast-moving consumer goods (FMCG) and economic growth in developing countries are further driving the market toward growth. Besides this, rapid expansion in the pharmaceutical, cosmetics, and food and beverage (F&B) industries is also contributing to the market growth. Moreover, governments of various nations have been implementing stringent regulations that mandate food manufacturers to use effective packaging solutions to prevent contamination. This is creating new growth prospects for manufacturers in the packaging industry across the globe, which, in turn, is acting as a growth-inducing factor. Looking forward, the market is projected to grow at a CAGR of 3.3% during 2021-2026.
- On the basis of the product, the market has been divided into foil wraps, pouches, blisters, containers, and others.
- Based on the packaging type, the market has been segmented as rigid, flexible, and semi-rigid packaging.
- According to the foil type, the market has been bifurcated into printed and unprinted.
- On the basis of thickness, the market has been segregated into 0.007 mm–0.09 mm, 0.09 mm–0.2 mm, and 0.2 mm–0.4 mm.
- Based on the end use industry, the market has been divided into food and beverage, tobacco, pharmaceuticals, cosmetics, and others.
- On the geographical front, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Alcoa Corporation, Aliberico Slu, Alufoil Products Pvt. Ltd., Amcor Plc, Carcano Antonio S.p.A., Constantia Flexibles, Coppice Alupack Ltd. (Euro Packaging UK Ltd.), JW Aluminum, Novelis Inc. (Hindalco Industries), Raviraj Foils Limited and Zhangjiagang Goldshine Aluminium Foil Co. Ltd.
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