Enjoy complimentary customisation on priority with our Enterprise License!
The aluminum foil packaging market size is forecast to increase by USD 6.06 billion, at a CAGR of 4.82% between 2023 and 2028. An essential aspect of the aluminum foil packaging industry is market growth analysis, which is fueled by extensive market research and growth forecasts. The demand for convenient packaging, particularly in the food and beverage sector, drives this growth trajectory. Market forecasting indicates a promising future, especially with the rising popularity of recyclable aluminum foil packaging. Fluctuations in raw material prices, particularly within the European Union, influence market dynamics, impacting both the plastic and aluminum packaging sectors.
Moreover, the household and consumer goods industry increasingly prefers aluminum foil wraps and blister packs due to their versatility and recyclability. In addition to the food and beverages industry, aluminum foil packaging finds applications in the personal care industry and cosmetics industries, showcasing its adaptability in both rolled and semi-rigid formats of flexible packaging.
To learn more about this report, Request Free Sample in PDF
The wrapper foils segment is estimated to witness significant growth during the forecast period. The global market is growing due to factors such as the increased demand for wrapped aluminum foil, which provides effective and adaptable packaging options. In addition, this segment is widely used in the food service industry, wrapped aluminium foil helps preserve product freshness, protect against unfavorable weather and environmental conditions, and make branding easier. Furthermore, this is particularly relevant for dairy and confectionery products.
Get a glance at the market contribution of various segments View the PDF Sample
The wrapper foils segment was the largest segment and was valued at USD 5.25 billion in 2018. Moreover, blister packs of medications, butter, and individually wrapped chocolates are a few examples of products that use wrapped aluminum foil. In addition, the growing popularity of wrapped aluminum foil in the global market is mostly attributed to its practicality, hygienic qualities, and visual appeal. Furthermore, the aluminum foil is recyclable, which makes it environment-friendly for use. In addition, wrapped aluminum foil solutions that are eco-friendly and customizable are witnessing increased demand, making them a preferred product in the constantly evolving global market. Hence, such factors are fuelling the growth of the segment which in turn will drive the market growth during the forecast period.
Based on the application, the segment is classified into food and beverage, consumer, pharmaceutical packaging, and other packaging. In the food and beverage packaging segment, the growth of aluminum foil packaging in the food and beverage segment is fuelled by the increase in sales of packaged foods and dairy products. In addition, the US is the major contributor to the global packaged food market. In most packed foods, plastic laminated aluminum foils are used to extend the shelf life of food products. Furthermore, products including buttermilk, fresh cream, ice creams, curd, yogurt, butter, and cheese are contributing to a substantial volume of the global dairy products market. In addition, factors such as the growing global population and rising health awareness fuel the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 68% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries that are contributing to the market growth in APAC include China, Japan, and Indonesia. In addition, Southeast Asian countries are expected to contribute to the growth of the packaged food and beverage industry in APAC due to the growth of the retail sector. Moreover, the growth of the packaged food and beverage market in APAC is expected to drive the demand for the market in the region. Furthermore, the growing demand for online food delivery is positively impacting the market growth in the region. Hence, such factors are driving the market growth in APAC during the forecast period.
The market is the escalating demand for convenient packaging, especially in the food and pharmaceutical sectors. This demand is fueled by the necessity for portable and user-friendly packaging solutions, that align with consumers' on-the-go lifestyles. Aluminum foil's flexibility, lightweight nature, and barrier properties make it indispensable for packaging single-serve portions, ready-to-eat meals, and snacks, ensuring freshness and convenience. Additionally, the pharmaceutical industry seeks lightweight and portable packaging options, further propelling aluminum foil usage. Emerging recycling techniques contribute to market growth, leveraging aluminum's abundance and recyclability. However, the market faces challenges with the growing adoption of alternative solutions, such as plastic films and paper, driven by cost considerations and sustainability efforts within various industries like cosmetics, beverages, and personal care. Market growth and forecasting remain pivotal amidst these shifts, especially with regard to semi-rigid packaging and rolled foil packaging in the European Union (EU).
The surge in demand for convenient packaging is a pivotal driver propelling the growth of the market. This trend is particularly prominent in the food and pharmaceutical sectors where there's a growing necessity for portable, easy-to-use packaging solutions. Factors such as consumers' on-the-go lifestyles further fuel this growth. Additionally, the market benefits from the recyclability, shelf life extension, and excellent moisture resistance, making it an attractive option amidst fluctuating raw material prices. Moreover, initiatives like the circular economy, especially in regions like the European Union, underscore the importance of recyclables, further boosting the market's expansion.
Moreover, due to the flexibility, lightweight, and barrier qualities of aluminum foil, it is used in the food industry to package single-serve portions, ready-to-eat meals, and snacks while maintaining their freshness and providing convenience. In addition, the need for lightweight and portable packaging solutions for pharmaceuticals, medical equipment, and healthcare supplies drives the use of this in the pharmaceutical industry. Hence, such factors will increase the demand for this which, in turn, will drive the growth of the global market during the forecast period.
A key factor shaping the market growth is the emerging recycling techniques. Aluminum comprises more than 8% of the core mass of the earth. In addition, the abundance of aluminum and its various valuable properties make it a highly preferred packaging material in the food and beverage industry.
Moreover, these containers are lightweight, resistant to fire, strong, non-toxic, and recyclable. In addition, over 12 billion aluminum foil containers are produced annually, which are made of almost pure aluminum and are 100% recyclable. Furthermore, these recyclable aluminum containers can be used in all ovens, which include broilers, convection ovens, and microwave ovens. Hence, such factors are driving the market during the forecast period.
The growing adoption of alternative packaging solutions is one of the key challenges hindering the market growth. The main substitutes for this are plastic films and paper. In addition, as the price of aluminum is increasing, many packaging-players and end-users are shifting to the use of plastic films and paper to reduce operating expenses.
Moreover, the high carbon footprint due to the use of aluminum foil-packaging is also encouraging many end-users to adopt alternative solutions to bring sustainability to their business operations. For instance, cosmetic tube aluminum foil is used as an internal barrier layer. Furthermore, most cosmetic brands are replacing aluminum foil with highly metalized PET for increased recycling rates. Therefore, the rising demand for lightweight-packaging is also triggering end-users of this to seek alternative options. Hence, such factors are hindering the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACG: The company offers aluminum foil packaging such as Alumpack, Alumlid, CR SF foil.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aikou Packaging Co. Ltd., Alibérico SLU, Aluflexpack AG, Amcor Plc, China Hongqiao Group Ltd., Constantia Flexibles Group GmbH, Coppice Alupack Ltd., Eurofoil, Flexifoil Packaging-Pvt. Ltd., Gulf Aluminium Rolling Mill BSC, Hindalco Industries Ltd., Hulamin Ltd., i2r Packaging-Solutions Ltd., Kibar Holding AS, Pactiv Evergreen Inc., Symetal SA, Tekni Plex Inc., United Company RUSAL, Wyda Packaging(Pty) Ltd., and Futuristic Packaging Pvt. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective strategies.
Global Market Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
You may also interested in below market reports:
The market is witnessing a surge in demand due to its recyclable nature, barrier properties, and moisture resistance, ensuring extended shelf life for various products. Derived from alumina sourced through bauxite mining, aluminum foil serves diverse sectors such as the food and beverage, pharmaceutical, and cosmetics industry. In response to the European Union's (EU) push for a circular economy, emphasis on recyclability has heightened, leading to a shift away from traditional plastic packaging and paper packaging. Household industry and consumer goods industries particularly favor aluminum foil for its versatility in bags, pouches, rolls, and containers.
In addition, thee food industry benefits from aluminum foil's ability to preserve moisture, light, and oxygen sensitive products, safeguarding against bacteria and maintaining appearance and taste. From dairy products to ready-to-eat meals, aluminum foil serves as a primary packaging material, offering thermal insulation and vapor barrier properties, ensuring the integrity of goods from production to consumption. With its adaptability and sustainability, aluminum foil continues to dominate the packaging requirements across a myriad of industries.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
172 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
|
Market Growth 2024-2028 |
USD 6.06 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.37 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 68% |
|
Key countries |
US, China, Japan, India, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
ACG, Aikou Packaging-Co. Ltd., Alibérico SLU, Aluflexpack AG, Amcor Plc, China Hongqiao Group Ltd., Constantia Flexibles Group GmbH, Coppice Alupack Ltd., Eurofoil, Flexifoil Packaging-Pvt. Ltd., Gulf Aluminium Rolling Mill BSC, Hindalco Industries Ltd., Hulamin Ltd., i2r Packaging-Solutions Ltd., Kibar Holding AS, Pactiv Evergreen Inc., Symetal SA, Tekni Plex Inc., United Company RUSAL, Wyda Packaging (Pty) Ltd., and Futuristic PackagingPvt. Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
