Aluminum Foil Packaging Market Size Is Projected to Reach $50.94 Billion By 2028 | Polaris Market Research

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Apr 22, 2021, 08:30 ET

NEW YORK, April 22, 2021 /PRNewswire/ -- The global aluminum foil packaging market size is expected to reach USD 50.94 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 4.3% from 2021-2028. The change in lifestyle, which involves a shift in eating habits, has resulted in a rise in packaging demand, which in turn, driving the market growth. Significant growth in the packaging industry as well as increasing demand for advanced packaging and excellent barrier properties are some of the key drivers for the market. In addition to this, increasing preference for more compact and lightweight packaging materials is further propelling the product demand. Moreover, robust economic growth coupled with increasing personal disposable income and a growing middle population is anticipated to accelerate the growth of the global aluminum foil packaging market.

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Key Highlights of Aluminum Foil Packaging Market

Based on packaging type, the segment of flexible packaging is anticipated to dominate the market and is expected to account for a major share of the market during the forecast period. The segment's growth is attributed to its vast array of products and protective properties.
In terms of foil type, the printed foil generated the largest revenue share and is projected to add more share in the coming years, owing to increasing demand for these types of foils for packaging in the food and healthcare sector.
By end-product, the food and beverages emerged as the rapidly growing end-use segment and are expected to witness the fastest growth rate during the forecast period. Increasing demand for ready-to-eat food products in developing and developed countries helping the growth of this segment.
The Asia Pacific is the most appealing market owing to its increasing focus on improving the quality of food and other consumables. Additionally, increased investment in the pharmaceutical industry has a positive impact on regional market growth.

Regional Developments:

North America is continuously dominating the aluminum foil packaging market and its dominance is predicted to remain over the forecast period. This region is expected to drive significant sales as the U.S is the primary home to leading aluminum foil packaging manufacturers. The Asia Pacific accounted for the majority market share and will continue to progress in the same manner during the forecast period. Major developing economies such as China, India, and Indonesia have changed their buying patterns by purchasing more packaged foods. The rising food market enables global players to introduce new products, expand to new regions, and develop new technologies.

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Competitive Outlook:

The aluminum foil packaging market is highly competitive, with the presence of several small and medium scale companies. Acquisitions, product innovation, R&D, and regional expansions are strategic initiatives taken by the leading market players to strengthen their position in the market. Prominent players present in the market include Aleris Corporation, Carcano Antonio S.p.A., Constantia Flexibles, Amcor Limited, Hulamin Limited, Plus Pack SAS, Nicholl Food Packaging Ltd, China Hongqiao Group Limited, Eurofoil Luxembourg S.A., Zenith Alluminio Srl, Hindalco Industries Limited, United Company RUSAL PLC, Novelis Aluminum, Coppice Alupack Ltd., Reynolds Group Holdings Limited, JW Aluminum, and Aliberico S.L.U.

Target Audience

Supply Side: Packaging Solutions Providers
Demand Side: Food and Beverage, Pharmaceutical, Personal Care and Cosmetics Industry
Regulatory Side: Food and Drug Administration

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Polaris Market research has segmented the aluminum foil packaging market report on the basis of type, printing type, product, end-use, and region:

Aluminum Foil Packaging Type Outlook (Revenue, USD Million, 2016 – 2028)

Flexible
Rigid

Aluminum Foil Packaging Printing Type Outlook (Revenue, USD Million, 2016 – 2028)

Printed
Unprinted

Aluminum Foil Packaging Product Outlook (Revenue, USD Million, 2016 – 2028)

Wraps & Rolls
Containers
Bags and Pouches
Blister Packs
Others

Aluminum Foil Packaging End-Use Outlook (Revenue, USD Million, 2016 – 2028)

Food & Beverage
Personal Care & Cosmetics
Pharmaceutical
Others

Aluminum Foil Packaging Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America

U.S.
Canada

Europe

Germany
UK
France
Italy
Spain
Netherlands
Austria

Asia Pacific

China
India
Japan
South Korea
Indonesia
Malaysia

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

Saudi Arabia
South Africa
Israel
UAE

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