USD 25640.48 million
Report ID: SQSG15G2004 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 93 | Figures: 76
Global Aluminum Foil Packaging Market size was valued at USD 25640.48 million in 2021 and is poised to grow from USD 26666.1 million in 2022 to USD 37954.17 million by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
Aluminum 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 as well as the impact of light. The expansion of the pharmaceutical and food and beverage industries has resulted in a significant increase in demand for products in this industry. The Earth is rich in aluminium, which is also entirely recyclable.
Aluminum foil is increasingly being used in food and beverage packaging, which is projected to be a major contributor in the industry's growth. Due to changing consumer lifestyles and an increase in the urban population, the processed food business is expanding quickly. Additionally, the expansion of the food and beverage business is being aided by the accessibility of packaged food items through online channels, which is anticipated to have a favourable effect on industry growth. More and more flexible films are being combined with aluminium foil to create lightweight packaging. Pet food, tuna, coffee, and soups alone generate 13 billion packets worldwide, making them feasible substitutes for traditional plastic packaging. Additionally, the market is expanding as a result of the rising demand for pharmaceutical items brought on by the rising incidence of diseases and the introduction of plastic bans in numerous nations. In addition, manufacturers are using aseptic packaging to protect the sterility of products due to increased worries about the spread of the coronavirus illness (COVID-19) through packaging surfaces, which is projected to propel the market even further.
US Aluminum Foil Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 25640.48 million
Food & Beverage
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The Global Aluminum Foil Packaging Market is segmented based on Type, Product, End User and Region. Based on Type it is segmented into Rigid, Semi-rigid and Flexible. Based on Product Aluminum Foil Packaging Market is segmented into: Foils Wraps, Pouches, Blisters, Containers, Others. Based on End User Aluminum Foil Packaging Market is categorized into Food & Beverage, Tobacco, Pharmaceutical and others. Based on region Aluminum Foil Packaging Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Aluminum Foil Packaging Market Analysis by Product
With a sales share of over 30% in 2021, the sector of aluminium foil wraps dominated the market for aluminium foil packaging. In snack pouches, liquid cartons, candy wraps, confectionery wraps, and medicinal pouches or bags, they serve as one of the layers. Foil wraps are a well-known product category as a result of their wide range of applications in end-use industries.
Products in the food and beverage, personal care and cosmetics, and home care industries are packaged in pouches. Pouches' expansion across a variety of applications is primarily being driven by their cost-effectiveness and ease when compared to rigid packaging options.
The bright and reflective aluminium foil packaging continue to draw customers' attention in retail settings. Containers made of aluminium foil can also be colored-lacquered or printed with logos. Aluminum foil containers are anticipated to be appealing choices due to the rising need for environmentally friendly packaging, particularly in the food and beverage industries.
Aluminum foil capsules and lidding used to seal or close containers are the main components of the other product group. Ground coffee was largely packaged in plastic-based pods. However, coffee firms are gradually converting to capsule pods made of aluminium foil because to worries about the sustainability of plastic materials.
Aluminum Foil Packaging Market Analysis by End User
In 2021, the aluminum foil packaging market was dominated by the food and beverage segment, which had the highest revenue share of 45%. For packaging bakery, dairy, confectionery, coffee/tea, dry food, beverages, meat and seafood items, among other foods, products including pouches, containers, capsules, and lids are frequently utilised. Aluminum foils are widely used in the food and beverage sector for packaging purposes because to their versatility, light weight, protection from food and aromas, wide availability, and affordability. Aluminum foil is the best barrier material for the inner lining of cigarette packages because tobacco is a perishable consumer good. To lock in the aroma of cigarettes, aluminium foil is typically utilised in cigarette packets as an aluminum-paper laminate. providing the visual attractiveness or appearance of tobacco packaging as well. Over the anticipated period, this application segment is forecast to experience a CAGR of 3.7%
Aluminum foil is typically utilised in the pharmaceutical sector to create blister lidding, foil laminate-based pouches, and bags. Because pharmaceutical formulations like lozenges, tablets, and capsules are so vulnerable to contamination, aluminium foil, which is a strong barrier to gases and light, finds important uses in the pharmaceutical sector.
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In 2021, Asia Pacific dominated the aluminum foil packaging market and contributed for 38% of total sales. Due to the region's burgeoning middle class and consumer markets for products including food, beverages, and pharmaceuticals, the industry is expanding throughout Asia Pacific. Due to significant manufacturing expenditures and large populations of consumers, India and China are projected to become the product's two most important markets.
Due to its effective single-dose packaging and ease of use, pharmaceutical companies in the U.S. are rapidly moving toward flexible packaging solutions like blisters. Aluminum foil packaging is projected to experience significant development opportunities as a result of this encouraging trend toward blister packs.
Because consumers are becoming more aware of sustainable packaging options, the market in Europe is expected to increase significantly. Furthermore, the industry is probably going to benefit from strict government rules in the area that aim to reduce the use of plastic packaging.
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Aluminum Foil Packaging Market Driver
Aluminum Foil Packaging Market Restraint
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The existence of several international players defines the global aluminum foil packaging market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our aluminum foil packaging market reports, some of the leading quality aluminum foil packaging manufacturers are as follows: Amcor Ltd. (Australia), China Hongqiao Group Limited (China), United Company RUSAL Plc. (Russia), Ess Dee Aluminum Ltd (India), Alufoil Products Pvt. Ltd. (India), Nicholl Food Packaging (U.K.), Wyda Packaging (Pty) LTD (South Africa), Penny Plate, LLC (US), Alcoa Corporation (US), Novelis Inc. (US).
Aluminum Foil Packaging Market Top Players Company Profiles
Aluminum Foil Packaging Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, Asia Pacific dominated the aluminum foil packaging market and contributed for 38% of total sales. The need for aluminium foil for food applications has increased due to the rising trend of eating packaged and ready-to-eat food. Another aspect promoting market expansion is the strict safety standards set by regulatory agencies to preserve the texture, nutrition, and shelf life of the products.
|Market size value in 2021||USD 25640.48 million|
|Market size value in 2030||USD 26666.1 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Aluminum Foil Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aluminum Foil Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG15G2004