Aluminum Foil Packaging Market Regional Estimates by Trends, Type, Application and Size, 2028

Posted on 2022-09-23 by researchinsights in Industrial // 0 Comments

San Francisco, Calif., USA, Sep 23, 2022 — /EPR Network/ —

Aluminum Foil Packaging Industry Overview

The global aluminum foil packaging market size was valued at USD 33.56 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2028. The rising application of aluminum foil in food and beverage packaging application is likely to be a key driving factor for the industry growth. The processed food industry is witnessing high growth owing to increasing urban population along with changing consumer lifestyles. Furthermore, availability of packaged food products through online channels is supporting the growth of the food and beverage industry, which in turn is expected to have a positive impact on industry growth.

Gather more insights about the market drivers, restraints, and growth of the Global Aluminum Foil Packaging market

The busy lifestyle of the working population in the U.S. is increasing consumer reliance on packaged food and beverages. Furthermore, increasing consumer awareness regarding the impact of plastic on the environment is boosting the demand for alternative packaging solutions, impacting the aluminum packaging industry positively.

Advancements in the technical field such as the development of modified atmosphere technology (MAP) which aids in locking the freshness of food by controlling the blend of gases such as oxygen, carbon dioxide, and nitrogen inside the flexible packaging are expected to support the industry growth.

The profit margins of the market players are largely dependent on the raw material costs. Fluctuating aluminum costs leading to uncertainty around the availability of raw materials at economical or consistent prices is likely to be a key challenge for the industry. The high adoption of low-cost flexible plastic alternative solutions such as pouches and bags is also restraining the industry growth.

The Covid-19 pandemic has severely impacted global industrial production due to lockdowns imposed across major economies. However, unlike other industries, the food and beverage and pharmaceutical industries have remained unaffected, which are the major end-users of aluminum foil packaging, benefitting the market.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

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Aluminum Foil Packaging Market Segmentation

Grand View Research has segmented the global aluminum foil packaging market on the basis of product, end-use, and region:

Aluminum Foil Packaging Product Outlook (Revenue, USD Million, 2017 – 2028)

Foil Wraps
Pouches
Blisters
Containers
Others

Aluminum Foil Packaging End-use Outlook (Revenue, USD Million, 2017 – 2028)

Food & Beverage
Tobacco
Pharmaceutical
Cosmetic
Others

Aluminum Foil Packaging Regional Outlook (Revenue, USD Million, 2017 – 2028)

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Market Share Insights:

June 2019: Amcor plc completed the acquisition of Bemis Company Inc., a U.S.-based packaging manufacturer, for nearly USD 6.8 billion. The acquisition has significantly expanded the former’s product portfolio, customer base, manufacturing capability, and geographic presence across the world.

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