The global aluminum foil packaging market size was valued at USD 13.86 billion in 2023. The market is projected to grow from USD 14.54 billion in 2024 to USD 22.24 billion by 2032, exhibiting a CAGR of 5.45% during the forecast period.
Aluminum foils are thin metal sheets which are vital in packaging for their adaptability and effectiveness, protecting food and products from moisture, light, and air to extend shelf life. The rising preference for packaging that is highly recyclable and easily disposable is fueling the growth of the market.
The COVID-19 pandemic caused a downturn in the aluminum foil packaging market due to raw material shortages and supply chain disruptions. While demand fell in food and beverage sectors, increased medical consumption boosted demand for blister packaging in the pharmaceutical industry.
Fortune Business Insights™ provides this information in its research report, titled “Aluminum Foil Packaging Market, 2024-2032”.
Segmentation:
Foil WrapsSegment Dominates owing to its Rising Demand in Personal Care And PharmaceuticalsSettings
In terms of product type, the market for aluminum foil packaging is classified into bags & pouches, containers, foil wraps, trays, blisters, and others. The foil wraps segment holds the apex position in the market. The rising need for flexible packaging solutions in personal care and pharmaceuticals products is driving the growth of foil wraps.
Food & BeverageSegment Dominates due to Population Growth
In terms of end-use industry, the market is divided into pharmaceuticals, food & beverages, personal care & cosmetics, and others. The food & beverage segment captures the key aluminum foil packaging market share due to the rising demand for convenient, ready-to-eat meals driven by population growth and changing lifestyles. The need for contamination-free packaging further boosts this segment’s growth.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The market research report offers a comprehensive analysis of market share, including key companies, competitive landscape, product types, and Porter’s Five Forces. It also provides insights into market trends, industry developments, and factors driving recent growth. Despite, the report also highlights the impact of the COVID-19 on the market.
Drivers and Restraints:
Increasing Use of Aluminum Foils in the Personal Care & Cosmetics Industry to Propel Market Growth
Aluminum foil’s tamper-proof and sterile properties make it ideal for maintaining product purity in personal care items, such as face masks and ointments, aligning with high hygiene standards and boosting demand. Moreover, its versatility in offering luxurious, visually appealing packaging with various finishes and designs, combined with its lightweight and compact nature for single-use or travel-sized items, enhances its attractiveness and convenience, driving aluminum foil packaging market growth.
However, contamination with food or other residues can hinder recycling processes and reduce overall recycling efficiency.
Regional Insights:
Asia Pacific Dominates the Market Owing to Rapid Urbanization
Asia Pacific leads the market for aluminum foil packaging due to rapid urbanization and industrialization, with China fueling growth as a major aluminum producer and consumer. Increased demand for soft food packaging in economically developing Southeast Asia also supports the region’s expansion.
North America is experiencing significant growth, driven by rising demand for pharmaceutical blisters due to an aging population and increased health-related issues.
To get to know more about the market, please visit: https://www.fortunebusinessinsights.com/aluminum-foil-packaging-market-108056
Competitive Landscape:
Industry Participants Focus on Innovationsto Gain Competitive Edge
The global aluminum foil packaging market is fragmented and competitive, with a few major players dominating through innovation and regional expansion to widen their customer reach. Key players include Amcor plc, Constantia Flexibles, and Qingdao Kingchuan Packaging. Numerous other companies are also advancing their packaging solutions.
Key Industry Development:
June 2024- Amcor launched ESSENTIELLE, a plastic-free foil made of aluminum and paper, in collaboration with Moët & Chandon. This initiative aligns with Amcor’s commitment to sustainable packaging and involves a partnership with Amcor Capsules for its development.
List of Key Players Mentioned in the Report:
- Amcor plc (U.S.)
- Constantia Flexibles (Austria)
- Qingdao Kingchuan Packaging (China)
- Henan Tendeli Metallurgical Materials Co., Ltd (China)
- Henan Huawei Aluminium Co., Ltd (China)
- Hindalco Industries Ltd. (India)
- Novelis (U.S.)
- Zhejiang Zhongjin Aluminum Industry Co., Ltd. (China)
- KM Packaging (U.K.)
- ProAmpac (U.S.)
- RusAL (Russia)
- Pactiv Evergreen Inc. (U.S.)
- Hong Kong Daching Enterprises Limited (China)
- CAFCO (China)
- ALUFO (India)
