|Study Period:||2019- 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The global aluminum foil packaging market (henceforth referred to as the market studied) was valued at USD 23.47 million in 2020 and is expected to register a CAGR of approximately 4.81% during the period of 2021-2026. The growing demand for ready-to-eat confectioneries and pharmaceutical products is the primary driver for the household aluminum foil market.
- One factor that assists the growth of the household aluminum foil industry is government regulations toward food safety and quality standards, which influences the manufacturers to develop effective packaging solutions that prevent food contamination.
- The increasing demand for fast-moving consumer goods, coupled with the increasing economy, is expected to lead to the market's high growth in APAC.
- Aluminum foil is increasingly being merged with flexible films to create lightweight packages. The packaging of pet food, tuna, coffee, and soups alone produces 13 billion packages across the globe, emerging as viable alternatives for conventional plastic packaging.
- Aluminum's sustainability creates competitive business advantages while simultaneously providing product development advantages. According to the Aluminum Association, nearly 75% of all aluminum that has been ever produced is still in use. Moreover, aluminum waste, when disposed of, does not add any poisonous contaminants to the water or ground; furthermore, these can be economically recycled and have more sustainability.
Scope of the Report
Aluminum foil is an essential material in laminates and has wide application in food packaging. Its barrier function against the migration of moisture, oxygen, and other gases, and volatile aroma and against the impact of light are generally higher than any plastic laminate material.
|Cosmetics and Personal Care|
|Other Foils (Blister)|
|Other Application Foils (Household)|
|Middle East and Africa|
Key Market Trends
Foil Wrappers Accounts for Significant Share in the Market
- The food, tobacco, and cosmetics industries are expected to be the major drivers for the growth of aluminum foil wraps over the forecast period.
- The global cigarette market has shown steady growth in the review period, and this growth is expected to continue over the forecast period as the next generation of tobacco and nicotine products, such as e-cigarettes, are increasingly being commercialized.
- Statistics released by British American Tobacco estimated that around 5,600 billion cigarettes are consumed each year worldwide.
- An aluminum foil wrap provides certain characteristics, such as dead fold and embosses ability, which cannot be obtained by other methods of packaging materials.
- Companies have been identified to take advantage of aluminum foil's unique barrier properties to safeguard tobacco products against moisture, deterioration, aroma transmission, and bacteria by sustaining a micro-climate in the package. Increasing the tobacco industry is expected to proportionately push the adoption of aluminum foil wraps over the forecast period.
- APAC's increase in the urban population can be attributed to the increase in the usage of aluminum foil, which is consistently increasing in countries like South Korea and China. North America has a huge usage penetration for the aluminum foil market, but the usage still has a scope as according to the US Department, American households only use about one to three foil wraps per day. But the usage beyond is very minimal, which leaves a span for market capture.
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North America Accounts for Significant Share in the Market.
- Though the country’s exports of aluminum foil were up till 2013, the robust domestic demand for aluminum has caused an increase in aluminum foil import from China, whose foil shipments to the United States have increased almost tenfold, accounting for around 265 million pounds, in the last decade.
- The food industry accounts for around 5% of the country’s GDP and is still growing, owing to the greater demand for packaged food. With the Food and Agriculture Organization of the United Nations (FAO)-specified guidelines for packaging of food products, aluminum finds its place in the list of approved materials or coatings that can be used safely.
- There is a rising availability of packaged dairy products through various retailing channels, along with the increasing consumer preference toward protein-based products, such as yogurt, cheese, and butter, which are expected to drive the adoption of dairy-based packaging in the United States.
- The US cheese shipments to China, South Korea, and Mexico increased by more than 25% each, and exports to Japan and Southeast Asia increased by 16% and 8%, respectively. Furthermore, the changing consumer lifestyles in the region, coupled with the growing demand for snack products, is driving the demand for aluminum-packaged food products that offer an extended shelf life and sterility.
- According to the US Dairy Export Council, dairy export accounted for USD 4.8 billion. This dynamic situation of the dairy industry is prompting product manufacturers to turn toward innovation to meet the increasing needs of the consumers, as well as adhering to the domestic and international industry food standards.
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The aluminum foil packaging market is highly fragmented due to low entry barriers and growing demand. Some key players in the market are Amcor Limited, Constantia Flexibles, Zenith Alluminio Srl, Plus Pack SAS. Some key developments in the market are:
- August 2021 - ProAmpac has announced the HC series of healthcare products consisting of the HC-600 high barrier film that can be used in a variety of market applications. HC-600W film is ideal for packaging traditional fragrance-containing products and disinfectants.
- November 2021 - ProAmpac announced that it had acquired Irish Flexible Packaging and Fispak from their parent company, IFP Investments Limited. Both Irish Flexible Packaging and Fispak are Ireland-based manufacturers and distributors of sustainable, flexible packaging serving the dairy, bakery, meat, fish, and cheese markets in Ireland and internationally.
- September 2021 - Flex Films, the film manufacturing arm of flexible packaging company Uflex, launched its BOPET high barrier film F-UHB-M. The film is designed to replace aluminum foil in flexible packaging applications to resolve the challenges of the Converting Industry that have relied for long on aluminum foil for packaging despite several of its limitations, including material availability, high material cost, weak integrity, amongst others. The introduction of such alternatives in the market can lead food manufacturers to replace aluminum foil for packaging, which is expected to challenge the growth of the studied market.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Industry Value Chain Analysis
4.4 Assessment of the impact of COVID-19 on the market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Spectrum of Applications
5.1.2 Sustainable Nature of Aluminum Products
5.2 Market Challenges
5.2.1 Emergence of Alternative Materials with Comparative Barrier Properties and Low Carbon Footprint
6. MARKET SEGMENTATION
6.1 By End-User
6.1.4 Cosmetics and Personal Care
6.1.5 Other End-Users
6.2 By Type
6.2.1 Rolled Foil
6.2.2 Backed Foil
6.2.3 Other Foils (Blister)
6.3 By Application
6.3.1 Converter Foils
6.3.2 Container Foils
6.3.3 Other Application Foils (Household)
6.4 By Geography
6.4.1 North America
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Amcor PLC
7.1.2 Constantia Flexibles
7.1.3 Coppice Alupack Limited
7.1.4 Hindalco Industries Limited (Aditya Birla Group)
7.1.5 Eurofoil Luxembourg SA
7.1.6 Hulamin Limited
7.1.7 Novelis Inc.
7.1.8 Tetra Pak International SA
7.1.9 United Company RUSAL
7.1.10 Wyda Packaging (Pty) LTD
7.1.11 Alufoil Products Pvt Ltd
7.1.12 Assan Aluminyum
7.1.13 Constellium SE
7.1.14 Norsk Hydro ASA
7.1.15 Reynolds Consumer Products
7.1.16 Raviraj Foils Ltd
7.1.17 Zhangjiagang Goldshine Aluminium Foil Co.
7.1.18 Aliberico S.L.U.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Aluminum Foil Packaging Market market is studied from 2019 - 2026.
What is the growth rate of Aluminum Foil Packaging Market?
The Aluminum Foil Packaging Market is growing at a CAGR of 4.81% over the next 5 years.
Which region has highest growth rate in Aluminum Foil Packaging Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Aluminum Foil Packaging Market?
North America holds highest share in 2020.
Who are the key players in Aluminum Foil Packaging Market?
Amcor Limited, Constantia Flexibles, Nicholl Food Packaging Ltd(Bawtry Carbon International Limited), Hindalco Industries Limited(Aditya Birla Group), China Hongqiao Group Limited are the major companies operating in Aluminum Foil Packaging Market.