Global aluminum foil market was value US$ 21.7 Bn in 2017, and is expected to reach US$ 32.3 Bn by 2026, at a CAGR of 5.1 % during forecast period.
Aluminum is a non-ferrous metal which is extensively used in packaging materials. It forms an exceptional material for creating varied types of containers. It has proved to be an excellent material for protecting food, be it on shelf, cooler or freezer. Aluminum foils are easy to use, recyclable and consumer friendly product. Consumers can directly heat or freeze food products in the foil container. Aluminum packaging provides a complete protection against moisture, light, oxygen, and bacteria.
Based on thickness of aluminum foil, the global aluminum foil packaging market has been segmented into 0.07 mm â€“ 0.09 mm, 0.09 mm â€“ 0.2 mm, and 0.2 mm â€“ 0.4 mm.
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The 0.09 mm â€“ 0.2 mm segment is estimated to dominate the market. The 0.2 mm â€“ 0.4 mm segment is anticipated to witness a decline in market share. Thickness above 0.2 mm is not accepted as foil, and is considered as â€˜sheetâ€™. The majority of the contribution to growth of the 0.2 – 0.4 mm segment is from emerging economies.
Printed and unprinted are two foil types of aluminum foil packaging market. It depends upon which kind of material is to be pack. Aluminum foils are easy to use, recyclable and consumer friendly product. Based on the foil packaging applications, the food segment is anticipated to dominate the market, over the forecast period. High availability of substitutes in the food & beverages industry, packaging and quality of product have always been the key competitive factors. Dry foods, like aromatic herbs and spices, are best preserved when packed in aluminum packaging medium.
The use and demand for aluminum foil in pharmaceutical and drug industry is poised to grow at a faster rate than any other sector which may be primarily attributed to increasing demand to secure medicines safely. It is followed by increased demand across food packaging industry which includes railway catering services and chocolate production.
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The increased importance on the adoption of eco-friendly packaging has proved to be a major driver for the aluminum foil packaging market, the large volumes of aluminum foil packaging products that are not recycled and are left unaccounted for in landfills has started become a huge ecological challenge. This factor could hamper the growth of the market, especially in regions where waste management practices are not well-established and improper disposal of recyclable packaging products is not penalized.
Asia-Pacific is expected to dominate the global aluminum foil containers market over the forecast period. Rising urbanization coupled with growing disposable income which is anticipated to contribute towards the growing demand for aluminum foil containers market. Growing inclination towards convenience packaging solutions in food and beverages packaging is expected to drive the aluminum foil containers market over the forecast period in this region.
The North American aluminum foil packaging market is likely to be dominant during the forecast period. This is majorly due to change in technology in order to enhance the product quality by the manufacturers in the region and also the trend of using packed and container food is driving the aluminum foil packaging market.
The report covers a comprehensive review of major market drivers, restraints, opportunities, challenges, and key issues in the market. Furthermore, Competitive scenario and market share of the top players in the market, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTERâ€™s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to particular market segment.
Scope of Aluminum Foil Market:
Global Aluminum Foil Market, By Foil thickness
0.007 mm – 0.09 mm
0.09 mm – 0.2 mm
0.2 mm – 0.4 mm
Global Aluminum Foil Market, By Foil Type
Global Aluminum Foil Market, By Application
Bottle neck protection
Personal Care & Cosmetics
Global Po Aluminum Foil Market, By Region
Middle East & Africa
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Key Players Operating In Aluminum Foil Market:
China Hongqiao Group Limited
Hindalco Indistries Ltd
United Company RUSAL Plc.
Eurofoil, Pactic LLC
Ess Dee Aluminum Ltd
Wyda Packaging (Pty) Ltd.
Alufoil Products Pvt. Ltd
Nicholl Food Packaging