The global Aluminum Foil Packaging Market is forecasted to reach USD 36.3 Billion by 2027 at a CAGR of 4.4%; the market was valued at USD 28.7 Billion in 2019. Aluminum foil is made from an Aluminum alloy containing nearly 99% Aluminum; these alloys are molten and then produce foils between 0.00017 and 0.0059 inches thick. Aluminum packaging is corrosion-resistant with a high inclination towards hygiene and non-toxic nature. Aluminum foils are vastly used in the food and packaging industries. The increasing demand for Aluminum foil packaging market is owed to its high recyclability, strength, lightweight, and moldability. Aluminum foils are continually being used in pharmaceuticals to protect the medicines from sunlight and moisture. This utilization in the pharmaceutical industry has ramped up the demand for blister packed drugs. Increasing demand for packed ready to eat food, and the surging confectionary market has helped the Aluminum foil packaging market grow significantly.
The rising awareness and government regulations that aid the excellent packing and food safety have made the use of Aluminum packaging very vast. There is extensive use of Aluminum foil blisters in the pharmaceutical industry to protect the medicines. A shift toward a busy lifestyle, alcohol consumption, and heavy workloads, with a lack of physical activity, has increased the number of chronic diseases, increasing the demand for Aluminum foils in the pharmaceutical industry.
The tobacco companies use Aluminum foil’s barrier properties to protect the products against any moisture, aroma transmission, and bacteria by sustaining a micro-climate inside the package. The growth in the tobacco industry is expected, which would also significantly show in the Aluminum foil packaging market.
The global Covid-19 Pandemic has affected the demand of the worldwide Aluminum foil packaging market due to the worldwide lockdowns being issued by the governments, and this has disrupted the supply chain of the market. The lockdown has resulted in stock-piling and shutting of manufacture. The rise in demand for medicine has increased the demand for flexible aluminum packaging. With enough emphasis on social distancing, the economy can improve by better government regulations imposed, which should cater to a more economically efficient country.
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Key takeaways from the market study
- The US cheese shipments to China, South Korea, and Mexico increased by more than 25% each with a changing consumer lifestyle and a growing demand readily available eatables, the need for Aluminum packaging increased.
- British American Tobacco shared statistics that showed that 5600 billion cigarettes are consumed each year worldwide. The tobacco market is set to be worth in trillions in the forecasted period; this will ramp us the use of Aluminum foils in the packaging, which will also help aid the Aluminum foil packaging market.
- In the US, the food industry accounts for 5% of the GDP, which is still growing. The already established market of the US is hard to penetrate. Even with the significant dependency of the economy on the food sector and food safety, the Aluminum foil packaging market will also have a surge in demand.
- Asia Pacific has an increase in its urban population, and a constant rise in China and South Korea attributes to rising demand for Aluminum foil wraps. The high cost of aluminum when compared to plastic, plastic is widely used for packaging has restricted the use of aluminum in the Asia Pacific industry.
- North America holds a significant share in the market. This is due to the robust demand for aluminum, which affected their Aluminum foil imports from China, which increased ten folds. This is owing to the strict guidelines specified by the Food and Agriculture Organization of the United States, which define packaging of food products and aluminum find its name in the list of materials that can be used safely.
- Key participants include Constantia Flexibles, Amcor Limited, Zenith Alluminio Srl, Plus Pack SAS, Novelis Aluminum, Aliberico S.L.U., Eurofoil Luxembourg S.A., Coppice Alupack Ltd., Carcano Antonio S.p.A., and Reynolds Group Holdings Limited among others.
For the purpose of this report, Reports and Data have segmented into the global Aluminum foil packaging market on the basis of Product type, end use industry, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Foil Wrapper
- Blister Pack
- Collapsible Tubes
- Other Products
End Use Industry Outlook (Revenue, USD Million; 2017-2027)
- Other End-users
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Middle-East Africa
- Latin America
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Key Question the Report Will Answer
- At what rate will the Aluminum foil packaging Market grow? What will be the value of the market in 2027?
- What are key technologies driving Aluminum foil packaging?
- What would be the impact of Aluminum foil packaging across different regions?
- What are the strategies adopted by players to enter the Asia Pacific region?
- What is the key application of Aluminum foil packaging in the transportation sectors?
- What are future growth strategies in the market?
Finally, all aspects of the aluminum foil packaging market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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