The global aluminium foil packaging market is poised to reach US$ 40 Bn by 2030, with a steady growth rate of 6% over the forecast period. Mounting demand for ready-to-eat foods and increasing demand for pharmaceutical products, amid the COVID-19 crisis is providing significant growth opportunities for the aluminum foil packaging market. Presence of e-commerce platforms and increasing number of online food delivery aggregators have also contributed to the development of global aluminium foil packaging market at a global level.
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Furthermore, the foil-wraps aluminum packaging market is expected to grow at an impressive growth rate, backed by its ability to provide better water-resistance and cost benefits over other alternatives such as plastic. Aluminium foil packaging for pharmaceuticals and online ordered food has seen a significant increase in demand for flexible aluminum packaging foil, including aluminum wraps and containers.
The Aluminium Stewardship Initiative (ASI) has set numerous standards with respect to social and environmental policies. The organization is set to restore the disrupted supply chain for aluminium foil packaging materials during nation-wide lockdowns imposed as a result of Covid-19 outbreak.
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Key Takeaways of Global Aluminum Foil Packaging Market Study
- The global aluminum foil packaging market is expected to create a value opportunity of around US$ 20 Bn during the forecast period, adding 2.0X more value in 2030 as compared to 2020.
- Paper-based aluminum foil packaging segment will continue to dominate demand for aluminium foil packaging market accounting for more than one-fourth of the global share.
- Standard aluminium foil (99.5-99.9%) purity level, shall grow at a higher growth rate, facilitated by its moisture and sunlight resistant properties.
- The global market for aluminum foil packaging is expected to witness soaring popularity in emerging countries such as India, China and Brazil owing to the increasing demand for packaged as well as ready-to eat food and tobacco products.
- North America is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 3 Bn and is expected to show prolific expansion over the forecast period.
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- Aluminium foil packaging used in cosmetic and pharmaceutical industry shall continue dominance in the market, accounting for more than one-third of the market share, with growth rate of 4% over the forecast period.
“The imperative of safe packaging material in food and pharmaceutical industry is expected to drive the global aluminum foil packaging industry at a global level”, says the Fact.MR analyst.
Key Manufacturers to Focus on Product Innovation
The prominent players of Aluminium foil packaging market include Pactiv LLC., Aleris Corporation., Hulamin Ltd., Handi-Foil Corp., Penny Plate, LLC., Contital srL., Reynolds Food Packaging LLC., Revere Packaging LLC, Uflex and i2R. Key players rely on organic aggressive growth for establishing their presence in regional and global markets.
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These players are also focusing on product innovation to meet increasing demand compatible with associated application usage. For instance, pharmaceutical manufacturer Romaco Siebler and foil specialist Huhtamaki have launched the market’s first recyclable unit dose packaging for solid pharmaceutical products. The newest Push Pack model is made from recyclable aluminium foil packaging. The structure of the strip packaging foil enables it to be recycled back into the material loop. Similarly, i2r Packaging Solutions has unveiled a new aluminum smoothwall product that “is set to shake-up the food packaging industry.
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