WASHINGTON, June 10, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Aluminum Foil Packaging Market finds that increasing benefits of aluminium foil in food & beverage packaging is expected to mention high growth for the keyword market in the forecast period. The rising urban population and changing people's lifestyles are expressing huge demand in processed food industry. Easy availability of packaged items online increases the food & beverage industry's demand in the market, which in turn, propels the great impact on the growth of the Aluminum Foil Packaging Market.
The Global Market revenue stood at a value USD 36.1 Billion in the year 2021.
The Global Aluminum Foil Packaging Market size is forecasted to reach USD 45.1 Billion by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period; states Vantage Market Research, in a report, titled “Aluminum Foil Packaging Market Size, Share & Trends Analysis Report by Product (Foil Wraps, Pouches, Blisters, Containers), by End-use (Food & Beverage, Tobacco, Pharmaceutical, Cosmetic), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Drivers:
Increase Use of Aluminium Foil in Food Industry Drives the Market
Aluminium foil is an important material for laminates and is widely used in the food packaging industry. Its performance against moisture, oxygen & other gas sedimentation, and exposure to light is generally higher than any plastic laminated material. Increasing demand for food and beverages from online grocery channels is a major driving factor for the growth of the Aluminum Foil Packaging Market. The versatility of aluminium makes it an ideal material for packaging applications. Some of the properties of aluminium foil are strength, light weight, portability, flexibility and it can be molded into the required shape. It also protects the product from moisture and sunlight. During the COVID19 crisis, the aluminium foil packaging market has experienced significant growth, owing to the rising demand for ready-to-eat foods. The growth of the aluminium foil packaging market is growing significantly owing to its easy availability.
Increasing Demand from Pharmaceuticals Industry Propels the Market
Increasing awareness of environmental issues has led to an increase in the usage of sustainable materials such as aluminium foil in the pharmaceutical industry. Aluminium foil is mainly used for drug packaging because it can protect drugs and prevent them from being contaminated by water vapour or oxygen, so that they will not be degraded during the storage or transportation process. Aluminium foil has been widely accepted in every country as it does not react with medicine during storage or transportation, and it has the advantages of high efficiency, long life span, and inexpensive cost. The aluminium package is highly corrosion resistant & chemically neutral. And also, it is hygienic and non-toxic in nature, which is likely to witness large growth of the Aluminum Foil Packaging Market in the pharmaceuticals sector.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Aluminum Foil Packaging market is predicted to grow at a CAGR of roughly 3.8% during the forecast period.
- The Aluminum Foil Packaging market was estimated to be worth roughly USD 36.1 Billion in 2021 and is expected to reach USD 45.1 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Aluminum Foil Packaging market.
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Segmentation of the Global Aluminum Foil Packaging Market:
- Product
- Foil Wraps
- Pouches
- Blisters
- Containers
- Others
- End Use
- Food & Beverage
- Tobacco
- Pharmaceutical
- Cosmetic
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Aluminum Foil Packaging Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
Asia Pacific Holds Largest Market Share
Asia Pacific is expected to dominate the growth of Aluminum Foil Packaging Market in 2021.This growth is accelerated owing to the growing middleclass population and expanding consumer markets for end use applications including food, beverage, and pharmaceuticals.
List of Prominent Players in the Aluminum Foil Packaging Market:
- Amcor PLC
- Constantia Flexibles
- Novelis Aluminum
- Raviraj Foils Limited
- Ampco
- Symetal
- Aliberico S.L.U
- Coppice Alupack Ltd
- Eurofoil Luxembourg S.A.
- Reynolds group holdings limited
- Aleris Corporation
- Zhangjiagang Goldshine Aluminum Foil Co.
- JW Aluminum
- Ardagh Group
- Express Flexi Pack
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Aluminum Foil Packaging Market Size, Share & Trends Analysis Report by Product (Foil Wraps, Pouches, Blisters, Containers), by End-use (Food & Beverage, Tobacco, Pharmaceutical, Cosmetic), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/aluminum-foil-packaging-market-993954
Recent Developments:
November 2021: Pro Ampac acquired Irish Flexible Packaging and Fispak from their parent company, IFP Investments Limited. Both Irish Flexible Packaging and Fispak are Ireland-based manufacturers and distributors of sustainable, flexible packaging serving the dairy, bakery, meat, fish, and cheese markets in Ireland and internationally.
September 2021: Flex Films launched its BOPET high barrier film F-UHB-M. The film is designed to replace aluminium foil in flexible packaging applications to resolve the challenges of the Converting Industry that have relied for long on aluminium foil for packaging despite several of its limitations, including material availability, high material cost, weak integrity, amongst others. The introduction of such alternatives in the market can lead food manufacturers to replace aluminium foil for packaging, which is expected to challenge the growth of the studied market.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Aluminum Foil Packaging Market?
- How will the Aluminum Foil Packaging Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Aluminum Foil Packaging Market?
- What is the Aluminum Foil Packaging market drivers and restrictions?
- What will be the CAGR and size of the Aluminum Foil Packaging Market throughout the forecast period?
This market titled “Aluminum Foil Packaging Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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