According to Market Research Future (MRFR), the global aluminum foil packaging market is estimated to grow with a 4.5% CAGR from 2017 to 2023 (forecast period). The report offers a systematic and thorough analysis of the effect of the COVID-19 pandemic on the global aluminum foil packaging market.
Aluminum packaging is a resistant barrier to protecting beverages, food, pharmaceuticals, cosmetics, and reducing waste. Aluminum packaging is extremely corrosion-resistant and chemically neutral for most fillings. It is also hygienic and non-toxic in nature.
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The global packaging market is rapidly changing and is expected to experience substantial growth over the forecast period. Developing new and diversified packaging types and high potential in emerging economies provides aluminum foil packaging consumption with many opportunities, generating exciting opportunities for the packaging industry. Packaging innovation plays a crucial role in driving the development of the aluminum foil packaging industry. Advanced packaging technology has driven companies to innovation rather than just sticking to traditional methods. As a result, several companies are adopting sustainable and smart technologies in their product designs. This will help to enhance food safety as well as draw consumers. Companies invest more in packaging innovation than in production costs. Active packaging and intelligent packaging were introduced in order to improve the efficiency of the packaging technique.
The growth of the aluminum foil packaging market is driven by the development of the pharmaceutical industry and the rise in demand from the cosmetics industry. Aluminum foil is used for packaging applications in the personal care and cosmetics industries. This protects the items internally and increases the appearance of the packaging. Cosmetic content involves the application of special oils, vitamins, herbal and chemical compounds, which require protection from light and contamination. Despite many drivers of growth, there may be obstacles that would restrict marketability and impede the market’s growth. One such factor is the lack of adequate recycling processes in a number of countries.
A new industry trend is the research and development of packaging manufacturers concentrating on profitable manufacturing and short-distance supply locations to minimize costs. The aluminum foil packaging market is anticipated to thrive during the forecast period due to factors such as evolving consumer lifestyles and growing purchasing power. Packaging plays an essential role in increasing product sales. Customers may reject a high-quality product as a result of improper packaging. The aesthetic appeal of the packaging shall affect the purchasing decision.
Moreover, the aluminum foil packaging market is witnessing a number of changes, such as availability in different forms, acceleration of technical progress and shifts in competitive power, and evolving consumer preferences.
By packaging type, it is divided into rigid and flexible.
On the basis of application, the pharmaceutical segment is expected to witness huge growth in the future due to growing concerns for safety and hygiene and fear of damage to medicines from exposure to moisture and oxidation effects. In the pharmaceutical market, aluminum foils are used as blister packaging. Manufacturers in the pharmaceutical packaging industry use special lamination of low-density polypropylene (LDPE) 150 series on aluminum foils. This serves as a barrier to moisture, vapor, and gas.
On the other hand, cosmetics are also expected to contribute significantly during the forecast period. Aluminum foil provides protection to the products, internally, and enhances the appearance of the packaging. Cosmetic content applications include vitamins, herbal and chemical compounds, and special oils.
By end user, it is segmented into laminated tubes, wraps & rolls, bags & pouches, trays, and blisters.
Based on regions, global aluminum foil packaging market has been segmented into four major regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC is expected to be the fastest growing market for aluminum foil packaging during the forecast period. Rising per capita income coupled with increase in purchasing power of the consumers are key factors behind the growth of the market in this region. Developing economies such as India, China, and Indonesia have changed their buying patterns by purchasing more packaged foods. The rising processed foods and online shopping sectors enables global players to introduce new products, expand to new regions, and develop new technologies. It is highly lucrative due to its inclination towards improvement in quality of food and other consumables in developing nations.
North America is also another major market for aluminum foil packaging. It is expected to contribute significantly during the forecast period as the U.S. is home to major aluminum foil packaging manufacturers. Improvements in product quality and multiple uses in end-use sectors are likely to drive regional market demand till 2023.
China Hongqiao Group Limited, Ess Dee Aluminium Ltd, Wyda Packaging (Pty) LTD, Penny Plate, LLC, Alufoil Products Pvt. Ltd., United Company RUSAL Plc., Novelis Inc., Nicholl Food Packaging, Alcoa Corporation, and Amcor Ltd. are key players of the global aluminum foil packaging market.
Recently, Nestle and Amcor have collaborated for launching an aluminum based retort pouch which can reduce carbon emissions and be recycled at home. The pouch can be used for packing consumables for pets and be a viable alternative to metal.
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You would know it is a very surreal occurrence if you were ever on a tour of a cleanroom – in a sterile setting, where technicians build up and test satellites and other spacecraft. You stand there, staring at a rough and unsuccessful object, which seems to be covered in aluminum foil, with wires and solar panels at a variety of angles and it’s hard to imagine what things are really going to do when they are operational.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Aluminum Foil Packaging Market Market, By Packaging Type
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast By Region, 2020-2027
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast By Region, 2020-2027
5.4.1 Market Estimates & Forecast, 2020-2027
5.4.2 Market Estimates & Forecast By Region, 2020-2027
6 Global Aluminum Foil Packaging Market Market, By Application
6.2 Food & Beverages
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast By Region, 2020-2027
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast By Region, 2020-2027
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast By Region, 2020-2027
6.5.1 Market Estimates & Forecast, 2020-2027
6.5.2 Market Estimates & Forecast By Region, 2020-2027…………
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