According to Market Research Future (MRFR), the global aluminum foil packaging market is estimated to grow with a 4.5% CAGR from 2017 to 2023 (forecast period). The report offers a systematic and thorough analysis of the effect of the COVID-19 pandemic on the global aluminum foil packaging market.
Aluminum packaging is a resistant barrier to protecting beverages, food, pharmaceuticals, cosmetics, and reducing waste. Aluminum packaging is extremely corrosion-resistant and chemically neutral for most fillings. It is also hygienic and non-toxic in nature.
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Market Dynamics
The global packaging market is rapidly changing and is expected to experience substantial growth over the forecast period. Developing new and diversified packaging types and high potential in emerging economies provides aluminum foil packaging consumption with many opportunities, generating exciting opportunities for the packaging industry. Packaging innovation plays a crucial role in driving the development of the aluminum foil packaging industry. Advanced packaging technology has driven companies to innovation rather than just sticking to traditional methods. As a result, several companies are adopting sustainable and smart technologies in their product designs. This will help to enhance food safety as well as draw consumers. Companies invest more in packaging innovation than in production costs. Active packaging and intelligent packaging were introduced in order to improve the efficiency of the packaging technique.
The growth of the aluminum foil packaging market is driven by the development of the pharmaceutical industry and the rise in demand from the cosmetics industry. Aluminum foil is used for packaging applications in the personal care and cosmetics industries. This protects the items internally and increases the appearance of the packaging. Cosmetic content involves the application of special oils, vitamins, herbal and chemical compounds, which require protection from light and contamination. Despite many drivers of growth, there may be obstacles that would restrict marketability and impede the market's growth. One such factor is the lack of adequate recycling processes in a number of countries.
A new industry trend is the research and development of packaging manufacturers concentrating on profitable manufacturing and short-distance supply locations to minimize costs. The aluminum foil packaging market is anticipated to thrive during the forecast period due to factors such as evolving consumer lifestyles and growing purchasing power. Packaging plays an essential role in increasing product sales. Customers may reject a high-quality product as a result of improper packaging. The aesthetic appeal of the packaging shall affect the purchasing decision.
Moreover, the aluminum foil packaging market is witnessing a number of changes, such as availability in different forms, acceleration of technical progress and shifts in competitive power, and evolving consumer preferences.
Segmentation
By packaging type, it is divided into rigid and flexible.
On the basis of application, the pharmaceutical segment is expected to witness huge growth in the future due to growing concerns for safety and hygiene and fear of damage to medicines from exposure to moisture and oxidation effects. In the pharmaceutical market, aluminum foils are used as blister packaging. Manufacturers in the pharmaceutical packaging industry use special lamination of low-density polypropylene (LDPE) 150 series on aluminum foils. This serves as a barrier to moisture, vapor, and gas.
On the other hand, cosmetics are also expected to contribute significantly during the forecast period. Aluminum foil provides protection to the products, internally, and enhances the appearance of the packaging. Cosmetic content applications include vitamins, herbal and chemical compounds, and special oils.
By end user, it is segmented into laminated tubes, wraps & rolls, bags & pouches, trays, and blisters.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for aluminum foil packaging are predominantly covered in the global aluminum foil packaging market research report. Country-level aluminum foil packaging markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level aluminum foil packaging markets are covered in the report. In Asia-Pacific (APAC) region, the country-level aluminum foil packaging markets covered are Japan, India, China, and others. The aluminum foil packaging market research report also explores the regional market for aluminum foil packaging present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The aluminum foil packaging market research report also covers regional markets from the rest of the world alongside aluminum foil packaging markets of Africa and the Middle East.
Competitive Landscape
Active packaging and intelligent packaging methods are presumed to drive the aluminum foil packaging market growth worldwide. The global aluminum foil packaging market could be challenged by concerns regarding raw material prices, nevertheless, organizations in the aluminum foil packaging market will carry the growth rate forward. The aluminum foil packaging market research report presents company profiles of major companies active in the aluminum foil packaging market globally. Furthermore, the global aluminum foil packaging market report offers an all-inclusive analysis of the market collected from the aluminum foil packaging market’s primary and secondary sources covering both decision makers and thought leaders. The aluminum foil packaging market research report highlights such key areas assisting businesses operating in the aluminum foil packaging market to build better growth strategies.
Key Market Players:
China Hongqiao Group Limited, Ess Dee Aluminium Ltd, Wyda Packaging (Pty) LTD, Penny Plate, LLC, Alufoil Products Pvt. Ltd., United Company RUSAL Plc., Novelis Inc., Nicholl Food Packaging, Alcoa Corporation, and Amcor Ltd. are key players of the global aluminum foil packaging market.
Recently, Nestle and Amcor have collaborated for launching an aluminum based retort pouch which can reduce carbon emissions and be recycled at home. The pouch can be used for packing consumables for pets and be a viable alternative to metal.
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Industry News
You would know it is a very surreal occurrence if you were ever on a tour of a cleanroom – in a sterile setting, where technicians build up and test satellites and other spacecraft. You stand there, staring at a rough and unsuccessful object, which seems to be covered in aluminum foil, with wires and solar panels at a variety of angles and it's hard to imagine what things are really going to do when they are operational.
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