Aluminum Foil Packaging Market to Reach US$ 31.5 Bn Value by 2025
Transparency Market Research delivers key insights for the aluminum foil packaging market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2025. In terms of revenue, the global aluminum foil packaging market is projected to expand 1.3x its current market value by the end of 2025, owing to increasing demand from food service sub-segments such as ready-to-eat meals and bakery & confectionery across several countries about which, TMR offers detailed insights and forecasts in the aluminum foil packaging market report.
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Aluminum foil packaging is preferred in various end-use industries, including food & beverages, pharmaceuticals, personal care & cosmetics, and numerous other industries. Aluminum foil packaging can offer complete protection from oxygen, light, moisture, and bacteria making it apt for food and medicine packaging. The TMR team segmented the analysis of aluminum foil packaging market based on various factors such as thickness, foil type, application, and end use across five regions. As per TMR analysis, unprinted type of aluminum foil packaging is expected to hold the largest market share during the forecast period, owing to its multiple usage in bakery & confectionary, blister packages, online food delivery items, and others due to its non-toxic nature.
Aluminum Foil Packaging Highly Preferred in Food and Beverages
Bags & pouches, wraps & rolls, and laminated trays application segments of the aluminum foil packaging market are gaining more traction in food service and online food delivery businesses from the past several years. Aluminum foil packaging is mostly considered as the ultimate core packaging material for dairy products, chocolates, pastries, beverages, fruit juices, etc. Besides this, aluminum foil packaging have less impact on the environment, as it contains an average 73 percent recycled content, more than three times the amount of glass or plastic products. These factors make aluminum foil packaging a preferred format by consumers who keep sustainability in mind, while making purchase decisions. According to the Product Complexity Index (PCI), aluminum foil packaging is the 275th most traded product in the world. Consumer inclination toward aluminum foil packaging, combined with increasing fast food consumption worldwide, will also help boost the growth of the global demand for aluminum foil packaging.
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Asia Pacific Emerging as Major Aluminum Foil Packaging Market
Due to the expansion of key industries such as food & beverages, pharmaceuticals, personal care & cosmetics, etc., sky-high demand for aluminum foil packaging is expected during the forecast period. India and China, which enjoy leading positions as two of the largest consumers of aluminum foil packaging in Asia Pacific, offer plenty of opportunities to vendors from across the world to invest in this lucrative market. This can either be done by collaborating with successful local players to expand into the region, or through mergers & acquisitions. Latest advancements in the global aluminum foil packaging market has slowly shifted the production base to the East, particularly in Asia.
Health Difficulties Related with Aluminum Foil Packaging May Hinder Market Growth
Nearly every fifth person in the world wraps food using aluminum foil packaging, and many use it for cooking too, mostly during roasting and baking. Despite the suitability of aluminum foil packaging and other desired features, it is reflected unsafe, as aluminum can react by leaching out to food in contact with the foil, as it is not fully inert. Most people heat traditional foil-wrapped food even though it cannot be used in microwave and ovens. Besides this, during the cooking cycle, aluminum migration to food reaches the allowable limit set by the World Health Organization. In a study examining the effects of hemodialysis causing aluminum to build up in the blood from sources such as aluminum foil packaging has been found to increase the risk of developing bone disease. Increasing customer concern about health issues associated with aluminum foil packaging could hamper the growth of the demand for aluminum foil packaging. Hence, one of the options will be to develop new ovenable aluminum foil packaging types, which is safe for cooking.
Aluminum Foil Packaging Market: Competition Landscape
The global aluminum foil packaging market is expected to witness competition, as many bulk manufacturers from China and India are trying to grab major market share. Aluminum foil packaging market includes many well established market participants and numerous other local players, attributing to major revenue creation with the raising demand for blister packs, trays, laminated tubes and other products. Some of the key players operating in the global aluminum foil packaging market are China Hongqiao Group Limited, United Company RUSAL Plc, Amcor Plc, Hindalco Indistries Ltd., Hulamin Ltd., Alcoa Corporation, Ess Dee Aluminium Ltd., Novelis Inc., Eurofoil, Pactic LLC, Penny Plate, LLC, Alufoil Products Pvt. Ltd., Wyda Packaging (Pty) Ltd., Nicholl Food Packaging, and among others.
The Tier structure is formulated on the basis of segmental revenue and market share of the company. As per Tier structure, Pactic LLC, United Company RUSAL Plc and Alcoa Corporation are the Tier 1 players in the aluminum foil packaging Market. These players are focusing on the development of more flexible, versatile, and stable aluminum foil packaging solutions. Tier 2 players includes Hindalco Industries Ltd, Amcor Plc, Penny Plate, LLC, and among others.
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