Aluminum Foil Packaging Market 2020 | RPA Industry Historical Analysis, Future Growth, Global Share, Major Challenges, Trend, Segmentation and Forecast to 2027
Aluminum Foil Packaging Market Overview:
According to a comprehensive research report by Market
Research Future (MRFR), “Aluminum Foil Packaging
Market Research Report, By Packaging Type, By Application By
End-User and by Region - Forecast till 2027” The global Market
is projected to reach USD 47.4 billion by 2027 from an estimated USD 28.4
billion in 2020, at a CAGR of 4.5 % from 2021 to 2027.
Market Scope
The global aluminum foil packaging market size is expected
to expand at a CAGR of 4.5% over the forecast period. Concerns over safety of
products are likely to drive its demand among customers. Adoption of aluminum
packaging by food & beverage and pharmaceutical manufacturers for marketing
their products and investments in innovative solutions can drive the market
growth. Protection of cosmetic goods from sunlight, dust, and other
environmental elements can bode well for the market. Disposable income levels
and change in lifestyles can shape the strategies of market players.
Packaging manufacturers are relocating their facilities
close to manufacturers to lower their logistics costs and increase bottomline
margins. Changing lifestyles of customers and demand for fresh foods in urban
areas can drive the market demand. Food delivery platforms and ready-to-eat
food manufacturers are procuring aluminum foil in large volumes to sustain their
customer base. Aesthetic appeal of packaging is likely to play a huge role in
the coming years.
Industry Breakthroughs
The recyclable nature of aluminum has led to its preference
over plastic for packaging purposes. Its low carbon footprint and ability to
act as a barrier against air, light, liquid, and microorganisms can bode well
for the market. Manufacturers have expanded its use by lacquering it in jars
and bottles to prevent their products from corrosion. Aluminum eco-packaging
can be customized as per the shape of the container. It can retain the
properties of foods and isolate the product from environmental factors. For
instance, Montebello Packaging has various clients that are making the shift to
aluminum from metal and plastic to reduce their environmental impact. The
changing attitudes of customers with respect to their packaging as well as
advantages of being multi-functional and sustainable can shape the market’s
approaches. Successful products contain foil packaging to appear glamorous and
enticing to prospective customers.
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List of Prominent players of the global aluminum foil packaging market
profiled are:
- United
Company RUSAL Plc.
- Penny
Plate LLC
- China
Hongqiao Group Limited
- Alufoil
Products Pvt. Ltd.
- Ess
Dee Aluminium Ltd
- Nsicholl
Food Packaging
- Wyda
Packaging (Pty) LTD
- Novelis
Inc.
- Amcor
Ltd.
- Alcoa
Corporation
- others
COVID-19 Impact
The COVID-19 outbreak did temporarily affect the production schedule
of foil manufacturers. With worldwide shutdown of plants in a bid to contain
the virus, the market had suffered a setback. But the plants were being
repurposed in producing protective gear for frontline healthcare workers. After
the relaxation of rules, the aluminum foil packaging market is expected to
experience a reversal of fortunes due to low traffic at restaurants and hotels
and the use of aluminum foils by food aggregation platforms.
Browse In-depth Market Research Report (111 pages) on Aluminum Foil Packaging
https://www.marketresearchfuture.com/reports/aluminum-foil-packaging-market-5117
Segmentation Analysis
By packaging type, the flexible segment can display a strong
growth rate during the forecast period. This is attributed to its applications
in sectors of electronics, engineering goods, defense, food, and
pharmaceuticals. On the other hand, the rigid type enjoys a significant market
share owing to the use of aluminum foil in cans, containers, and corrugated
walls.
By application, the pharmaceutical industry is set to
register a huge demand for the aluminum foil packaging market owing to concerns
for safety of medicines. Aluminum can act as a barrier to moisture and oxidation
and prevent medicines from damage. Use of low-density polypropylene (LDPE) on
aluminum foils are being used to prevent damage to products. On the other hand,
cosmetics can exhibit a strong growth rate during the forecast period owing to
use of pouches, caps, blisters, and others to protect skin care products.
Aluminum foil packaging can be used in attracting customers and also protects
the product from contamination.
By end-user, wraps & rolls can command a huge market
share owing to their flexible and lightweight nature. Wraps can protect food
from sunlight and keep it warm. Its use by food delivery platforms and
restaurants for providing warm food to customers can drive the segment growth.
On the other hand, blisters are likely to carve a significant market share
owing to the pharmaceutical industry for packaging of capsules and tablets.
High prevalence of chronic diseases and sedentary lifestyles can drive the
demand in the segment.
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Regional Analysis
Asia-Pacific is deemed to dominate the aluminum foil
packaging market owing to increased purchasing power of customers and
procurement of products. But high costs of aluminum can restrict the market
growth in the coming years. China and India are prime markets for investments
owing to a large urban crowd and a huge industry for food delivery platforms.
Increased spending on pharmaceuticals can also influence regional market
demand.
North America is expected to take the second position owing
to the maturity of the market and investments in eco-friendly solutions by foil
packaging manufacturers. The versatile nature of aluminum as well as fast-paced
lifestyles of urban customers can drive the demand in the region. On the other
hand, Europe is set to be lucrative for the aluminum foil packaging market
owing to their adherence to regional quality and safety standards.
Industry Update
Huhtamaki has acquired FIOMO a.s., a manufacturer of
flexible packaging foils and labels in the Czech Republic, to increase its
footprint in Europe.
Contamination-resistant Products to Drive Global Aluminum
Foil Packaging Market Growth
The global aluminum foil packaging market is set to
experience a peak in demand owing to humongous demand from food & beverage,
cosmetics, and pharmaceutical sectors. Eco-friendly benefits of aluminum and
preference of sustainable packaging solutions can drive the market growth.
Segmentation of Market covered in the research:
Information By Packaging Type (Rigid and Flexible), By
Application ( (Food & Beverages, , Pharmaceuticals, , Cosmetics, and
Others) By End-User (Bags & Pouches, Wraps & Rolls, Blisters, Laminated
Tubes, and Trays) and by Region (North America, Europe, Asia-Pacific, and Rest
of the World)
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