The changing dynamics in the food packaging is attributable to the consumer consumption pattern in the foodservice industry. The rising disposable income particularly in developing economies has made consumers more inclined towards takeaway culture. Also, because of increasing urban working-class population and rapid urbanization, these foil take out containers are relied upon to gain popularity amongst millennial customers, as they are aesthetically appealing and convenient to use. The use of aluminum foil take out containers for packaging in the foodservice business is increasing rapidly, as a result increasing the demand for the foil take out containers market during the coming time. The manufacturers of aluminum foil take out containers in turn have a great opportunity by emphasizing on design and cost-viability of the product.
Foil take out containers market: Dynamics
The foil take out containers are picking up fame in the foodservice industry due to their recyclable, light-weight, and practical attributes. These containers are made up from aluminum which also prevents food spoilage packaging solution. The aluminum foil take out containers can withstand temperature change and are easy to handle. Food service companies offer different services such as, ‘takeaway’ and drive-through’ to cater to the increasing number of on the go customers. Also, the rising acceptance of foil take out containers made from aluminum in food industry is because of convenience and sustainable nature it possesses.
The aluminum take out containers have made progress as compared to the conventional white polystyrene (PS) containers. As of late, the demand for improvised travel food boxes has emerged with different sizes and shapes. The aluminum foil take out container are inexpensive, eco-friendly and safe in contrast to foam, paper, and plastic containers.
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Foil take out containers market: Regional Outlook
The foil take out containers are lucrative and are mostly used in the United States of America. Thus, the market is expected to provide growth opportunities for the regional manufacturers. China is the biggest consumer and manufacturer of aluminum in the world and has a progressive demand for foil take out containers. On the other hand, India is gradually moving towards takeaway food culture so the market for foil take out containers is expected to observe growth.
The production of aluminum foil take out containers in the North American market was intensely impacted by low priced Chinese imports. The U.S., which commanded the North American market, is a highly developed market for foil take out containers. Thus, the country is expected to pose a steady demand for foil take out containers. Also, the U.S. Branch of Commerce applied critical levies on aluminum import from China. The help from the government has helped domestic producers to grow their business in the nation.
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Foil take out containers market: Key Players
The foil take out containers market is highly competitive in nature, as there are several players operating at regional and global level. Some of the key players in the foil take out containers market are as follows –
- Trinidad Benham Corporation
- Novelis (Hindalco Industries)
- Contital srL
- Handi-foil of America, Inc.
- i2r Packaging Solutions Limited