In addition, the global aluminium foil packaging market is expected to rise at a CAGR of 4.5%, with a value of USD 47.4 billion during the projected year of 2022-2030.
Aluminium foil is a crucial component of laminates and is widely used in food packaging. It generally performs better than any plastic laminate material in terms of resistance to the resettling of moisture, oxygen, and other gases and the impact of light. The expansion of the pharmaceutical and food and beverage sectors has significantly increased the demand for products in this industry. The Earth is plentiful in aluminium, which is also entirely recyclable. The rise of this industry has been significantly fuelled by the increased demand for food and drinks from both the pharmaceutical industry and online food channels.
Aluminium is a great material for packaging applications because of its adaptability. Aluminium foil has several qualities, including strength, portability, lightweight, and flexibility, which enable it to be moulded into the desired shape. Additionally, it shields the goods from sunshine and moisture, preventing deterioration of the finished product. The market for aluminium foil packaging has shown rapid expansion in recent years and is anticipated to continue growing over the next years.
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The key elements anticipated to propel the category shortly are the fast-paced lifestyle, the simplicity of ordering through online platforms, and the freedom to select from a wide range of eateries. During the projected period, the markets for food, cigarettes, cosmetics, and medicines are anticipated to be the main drivers. The industry is also anticipating opposition from substitute packaging materials, including glass, paperboard, pulp, plastic, and others. Additionally, the new environmentally harmful mining techniques needed for metal manufacturing prevent the metal from recovering from recycling throughout production. As a result, during the projection years, the market for aluminium foil packaging is anticipated to experience aversion.
Market Segmentation:
The global market has been divided into four sections: application, end-user and regional basis. The packaging type has divided the market into two parts: rigid and flexible. As per the application part, the global market is further classified into four sections food & beverages, pharmaceuticals, cosmetics and others. As per the end-user industries, the market is further divided into five sections bags & pouches, wraps & rolls, blisters, laminated tubes and trays. On a regional basis, the global market is further divided into five sections: Asia-Pacific, North America, South America, Europe and Middle East & Africa.
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Regional Analysis:
Due to the rising demand for packaged foods, the food industry contributes around 5% of the nation’s GDP and is still expanding. A list of authorised materials or coatings that can be used safely is provided by the Food and Agriculture Organization of the United Nations for packaging food items. Exports of US cheese to China, South Korea, and Mexico grew by over 25%, while exports to Japan and Southeast Asia increased by 16% and 8%, respectively.
Furthermore, the need for food goods packaged in aluminium to provide a long shelf life and sterility is being driven by the region’s shifting consumer lifestyles and an increase in the demand for snack products.
Key Players
The key players of global aluminum foil packaging market includes Amcor Ltd. (Australia), China Hongqiao Group Limited (China), United Company RUSAL Plc. (Russia), Ess Dee Aluminium Ltd (India), Alufoil Products Pvt. Ltd. (India), Nicholl Food Packaging (U.K.), Wyda Packaging (Pty) LTD (South Africa), Penny Plate, LLC (U.S.), Alcoa Corporation (U.S.), Novelis Inc. (U.S.) and others.
Industrial News:
To fulfil the consumers’ growing expectations while also conforming to domestic and international industry food standards, product makers are being forced by the dairy sector’s dynamic environment to innovate. This series includes the HC-600 high barrier film, which has several market uses. Packaging for classic fragrance-containing goods and disinfectants works best with HC-600W film.
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