Aluminum Foil Packaging Market Size, Share & Industry | 2031

Report Description

The global aluminum foil packaging market size is anticipated to expand at a CAGR of 4.5% and is projected to reach USD 47.8 billion during the forecast period, between 2021 and 2028. Increasing demand for fast-moving consumer goods and rising expenditure by the manufacturers on R&D to develop sustainable packaging solutions and improving material handling processes in the supply chain are boosting the market.

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Aluminum foil, also known as tin foil, is a significant laminate material widely used in food and pharmaceutical packaging. It acts as a barrier against light, oxygen, odors and flavors, moisture, oil and grease, germs, and other gases. Aluminum foil packaging is light, flexible, hygienic, non-toxic, easily recyclable, harmless to health, and provides sustainability to the environment. Furthermore, there are several advantages of using aluminum foil packaging including it can be recycled several times without losing the quality and strongly corrosive resistance and only react to highly concentrated acids and base substances. However, the aluminum foil packaging keeps food fresh by maintaining the aroma of food for a longer period of time and reduces the need for cooling.

Market Trends, Drivers, Restraints, and Opportunities:

• Rising awareness related to food safety and hygiene among consumers is boosting the market. 
• Increasing demand for packaged food associated with the rising number of working population worldwide is fueling the market.
• Stringent rules and regulations imposed by the government on food security and promoting the use of eco-friendly product are propelling the market.
• Growing demand for thinner aluminum packaging foil by the end-users for reducing overall packaging costs is driving the market.
• The availability of rubber, plastic, and other packaging materials as a substitute is restricting the market.
• The aluminum packaging foils have limited growth with acid and salt-based products such as apple sauces, tomatoes, sliced citrus fruits are hampering the market. 
• Increasing focus by the key manufacturers on research activities to develop innovative product design and packaging solutions. Thus, creating opportunities in the market. 
• Growing preference for lightweight and compact packaging material is projected to generate opportunities for the market. 

Scope of the report:

The report on the global aluminum foil packaging market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Aluminum Foil Packaging Market Segment Insights:

Printed segment to grow during the anticipated period

On the basis of types, the global aluminum foil packaging market is segmented into printed and unprinted. The printed segment is expected to hold a significant market share during the forecast period, due to the growing adoption of branded products and sustainable packaging among the consumers. The printed containers help in attracting the consumer’s attention in retail spaces. Moreover, the aluminum foil containers can be customized based on consumer's demand such as printed with brand-identifying designs and color lacquered, which is anticipated to propel the segment during the forecast period.

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Flexible segment to grow in the forecasted period

In terms of packaging types, the global aluminum foil packaging market is segregated into rigid, flexible, and semi-rigid. The flexible packaging segment is expected to hold a significant share of the market during the forecast period owing to, protective properties and being widely used in various applications in the food and beverages industry. The flexible aluminum packaging foil is easily recyclable and available at a low cost, which is anticipated to propel the segment during the forecast period.

Bags and Pouches segment to grow at a significant pace in the near future

Based on applications, the aluminum foil packaging market is segregated into bags & pouches, wraps & rolls, blisters, laminated tubes, trays, and others. The wraps segment constituted a significant market share in 2020 and is projected to grow in the near future. The aluminum foil packaging wraps are used as layers in candy wraps, snack pouches, confectionery wraps, liquid cartons, and pharmaceutical pouches or bags. The pouches segment is expected to hold a significant share of the market during the forecast period, attributed to changing preferences towards the adoption of a cost-effective solution. The aluminum foil-based pouches are convenient as compared to rigid packaging solutions. Moreover, the rising adoption of bags and pouches for packaging products across various industries such as food and beverages, personal care and cosmetics, and home care industries, which is expected to boost the segment during the forecast period.

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Food and Beverages segment to grow during the anticipated period

On the basis of end-users, the global aluminum foil packaging market is segmented into food & beverages, pharmaceuticals, tobacco, cosmetics, and others. The food and beverage segment constituted a significant market share in 2020 and is projected to grow during the forecast period, due to the growing adoption of aluminum foil- based packaging products and solution. The products includes pouches, capsules, lid, and containers and are broadly used in packaging of coffee/tea, meat and sea food,  bakery, dry food, dairy, beverages, and confectionery items. However, aluminum packaging foils are widely available, lightweight, flexible, and protecting aroma by providing food safety. These factors are anticipated to propel the segment during the forecast period.

Market in Asia Pacific is projected to grow the forecasted period

Based on regions, the global aluminum foil packaging market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 and is projected to grow during the forecast period. The expansion of the food and beverage, manufacturing, pharmaceutical, and retail sectors increases the demand for aluminum foil packaging in countries like India, China, Japan, and South Korea. The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to the rising disposable income, increasing population, and the pharmaceutical sector is shifting towards flexible packaging products such as blisters. Moreover, the growing investments in the manufacturing sector are associated with a broad consumer base in China and India, which is anticipated to propel the market in Asia Pacific.

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