Aluminum Foil Packaging Market worth $27.9 billion by 2028 Globally, at a CAGR of 4.3%, says MarketsandMarkets™
Chicago, July 09, 2023 (GLOBE NEWSWIRE) — The report “Aluminum Foil Packaging Market” Market is projected to grow from USD 21.7 billion in 2023 to USD 27.9 billion by 2028, at a CAGR of 4.3% during the forecast period, as per the recent study by MarketsandMarkets.” Aluminum foil is a thin, versatile material made from aluminum alloy, commonly used in packaging applications due to its excellent properties. In the packaging industry, aluminum foil is widely utilized for its barrier properties, heat resistance, moisture resistance, and ability to protect packaged products from light, oxygen, and contaminants. It is commonly used in various forms, such as rolls, blisters, pouches, and containers, to package a wide range of products including food items, pharmaceuticals, beverages, cosmetics, and household products.
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List of Key Players in Polybutylene Adipate Terephthalate Market:
- RUSAL (Russia)
- Hindalco Industries Ltd. (India)
- China Hongqiao Group Limited (China)
- AMCOR Ltd. (Switzerland)
- GARMCO (Bahrain)
- Pactiv Evergreen Inc. (US)
- Hulamin (South Africa)
- Constantia Flexibles Group GmbH (Austria)
- Aluflexpack ag (Switzerland)
- Penny Plate LLC. (US).
Drivers, Restraints, Opportunities and Challenges in Aluminum Foil Packaging Market:
- Driver: Cost-effectiveness, excellent physical properties, and increased product shelf life, and increasing demand from end-use industries are driving the demand for aluminum foil packaging
- Restraints: Volatile raw material prices and easy availability of substitutes
- Opportunity: Upcoming regulations and government support
- Challenges: Recyclability of aluminum foils
Key Findings of the Study:
- The rolled foils type accounted for the largest share of aluminum foil packaging market.
- The food application segment accounted for the largest share of the aluminum foil packaging market.
- APAC is estimated to be the largest market for aluminum foil packaging.
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The market has been segmented based on types into rolled foils, backed foils, and others (which include blisters). The aluminum foil packaging market consists of different segments, including backed foils, rolled foils, and others. Backed foils are laminated with paper or plastic films, providing excellent protection against moisture, light, and air. This makes them suitable for packaging products requiring high levels of protection, such as food items, pharmaceuticals, and medical devices. Rolled foils, on the other hand, are thin and flexible sheets of aluminum, offering exceptional flexibility and malleability. They are ideal for wrapping and sealing products of various shapes and sizes. Rolled foils are commonly used in kitchens for cooking, baking, and food preservation, acting as a barrier against moisture, oxygen, and light to keep food fresh and prevent spoilage. The demand for both backed and rolled aluminum foil packaging is expected to grow significantly soon due to the increasing demand for convenience foods, pharmaceutical products, and the rise of e-commerce activities.
The aluminum foil packaging market, by product type, has been segmented into bags & pouches, wraps & rollstock, blisters, containers, and others. In the aluminum foil packaging market, the pouches segment has emerged as the dominant force, capturing the largest market share. Pouches have gained widespread popularity due to their remarkable characteristics, making them a preferred choice for various industries. They exhibit exceptional versatility, being capable of accommodating a wide range of products, and their lightweight nature ensures easy handling and transport. One of the key factors contributing to the significant growth of the pouches segment is the growing demand for convenience and user-friendly packaging solutions. Pouches offer a hassle-free and straightforward packaging experience, allowing consumers to effortlessly access and use the products within. This convenience factor has become increasingly important in the fast-paced modern lifestyle, where consumers seek packaging that aligns with their need for simplicity and ease of use.
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The aluminum foil packaging market is segmented based on type as semi-rigid, flexible, and others. These different types of aluminum foil packaging have distinct characteristics and applications. Both semi-rigid and flexible types of aluminum foil packaging are projected to experience significant growth. Semi-rigid packaging offers a balance between rigidity and flexibility, making it suitable for protecting products that require some degree of flexibility, such as food containers. Flexible packaging, on the other hand, is highly malleable and can be easily shaped to accommodate a wide range of products like snacks and beverages, making it convenient for on-the-go consumption. The exceptional barrier properties of aluminum foil packaging, which protect against moisture, oxygen, and light, will contribute to its increased demand in industries such as food and pharmaceuticals. Additionally, the lightweight nature, convenience, and portability of flexible aluminum foil packaging, along with features like easy opening and resealable closures, make it a preferred choice for consumers.
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