NEWARK, Del, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The aluminium foil containers market is anticipated to reach US$ 3.8 billion in 2023 and post a CAGR of 5.5%. Over the forecast period, the valuation is expected to reach US$ 6.5 billion.
The aluminum foil containers market is assisting the food and beverage industry by providing packaging solutions that are useful for the storage of perishable foodstuff without the need for refrigeration for a long time. The temperature-sensitive food items like herbs, vegetables, and fruits can be easily and safely stored in aluminum foil containers. This quality is a driving factor for the market.
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Aluminum foil containers also ensure that the food is safe from dirt, moisture, and dust. This ensures the safe storage of leftovers and preservatives too. These containers are also used for storing fish, meat, and other such perishable items without affecting their quality and taste. Besides that, these containers prevent bacteria from getting inside the food.
The market's substantial share is held by North America, closely followed by Europe. A sizeable portion of the market is also in Asia Pacific. The rising demand for secure packaging solutions from the Food & Beverage industry is pushing the requirement for aluminum foil takeaway containers. Further, the delivery is expected to be slippage free, which is increasing the demand for aluminum foil food containers with lids. The containers with a lid ensure that the food is not affected by dust, and thus hygiene is maintained, which is most sought after by consumers.
Key Takeaways
- The market is expected to register a CAGR of 5.5% during the forecast period.
- The United States market is anticipated to dominate the regional segment and is expected to reach a valuation of 1.2 billion over the forecast period.
- The market in Germany is expected to record a CAGR of 4.6 % over the forecast period.
- Foodservices is expected to be the dominant segment for the market during the forecast period.
- The market in India is expected to register a CAGR of 7.5% and reach a valuation of US$ 679.8 million over the forecast period.
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Key Developments
- In 2019, Nicholl Food Packaging Ltd. received the ISO 14001 certification. This standard certification now ensures that the packaging solutions provided by the company meet all the environmental standards and set guidelines for the packaging sector.
- In 2017, a new warehouse was opened by i2r Packaging Solutions Ltd. for manufacturing processes in England.
- In order to expand its network throughout South Korea, i2r Packaging Solutions Ltd. acquired its former distributor from South Korea in 2017.
Competitive Landscape
The competition in the market is vast due to increasing consumer demand for safe packaging solutions. Key players are hence, investing huge amounts in innovating and manufacturing enhanced packaging solutions.
Some of the key players in the market include Amcor Plc., UACJ Foil Corporation, Hindalco Industries Ltd., Eramco, i2r Packaging Solutions Ltd., Nicholl Food Packaging Ltd., and others.
Key Segments Covered in Aluminum Foil Containers Industry Research
By Capacity:
- Up to 50 ml
- 50 ml to 200 ml
- 200 ml to 400 ml
- 400 ml & Above
By Product Type:
- Compartmental
- Non-compartmental
By Aluminum Foil Type:
- Standard Duty Foil
- Heavy Duty Foil
By End Use:
- Foodservices
- Bakery & Confectionery
- Food Packers/Processors
- Retail and Supermarkets
- Others (Medical, Electronics, etc.)
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Table of Content
1. Executive Summary | Aluminum Foil Containers Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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