Rockville, May 18, 2023 (GLOBE NEWSWIRE) -- Based on Fact.MR’s current released report on global aluminium foil packaging market is anticipated to be worth US$ 26.7 billion by the end of 2022, with a CAGR of 5.3% from 2022 to 2032.
One of the key factors that increase the preference for aluminium foil packaging in the market is the extended shelf-life of products. Aluminium foil packaging scores very high in barrier properties. A significant amount of food items is spoiled due to exposure to moisture and air, thereby increasing the need for packaging solutions that protect the food items from these elements.
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Aluminium foil packaging market is perfectly competitive as there are numerous buyers and sellers interacting in the market. Lowered price points play a major role in enhancing the market shares of the key stakeholders regionally. Further, key end users from food and pharma rely on long-term contracts with the foil suppliers of each grade, presenting enormous opportunities for every tier manufacturer.
| Aluminum Foil Packaging Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 5.3% |
| Market growth 2023-2033 | US$ 46,970.6 Million |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Amcor Plc., Pactiv LLC, Novelis, Inc., Bemis Co. Inc., Clifton Packaging Group Ltd., ESS DEE Aluminum Limited., Mondi Group Plc., Berry Global Group, Inc., Protective Packaging Ltd., Printpack Inc |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Takeaways from Market Study
- The global aluminium foil packaging market is to grow from US$ 26.7 billion in 2022 to US$ 44.8 billion in 2032
- The North American market is estimated to account for a 21.9% share of the global aluminum foil packaging market, in 2022
- The APAC market is estimated to account for a 33.4% share of the global aluminum foil packaging market in 2022
- Amcor, Pactiv and Berry to remain the top suppliers of aluminium foil packaging products
High Preference for Convenience Packaging Is an Emerging Factor that Fuels Market Expansion During the Forecast Period - says a Fact.MR analyst
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Market evolution and approaches
Merger and acquisition, product launches, joint ventures, and other collaborations are some of the key strategies embraced by players. Adoption of digital platforms enhances brand image and expands business territories remotely offering an add-on advantage to the manufacturers to remain competitive in a highly fragmented market. Long-term trade relations with suppliers and distributors offer immense revenue growth opportunities to eminent players in the market.
Aluminum Foil Packaging Market- Competitive Landscape
Prominent players in the Aluminum Foil Packaging Industry are taking advantage of the rapidly increasing demand for the Aluminum Foil Packaging in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:
- In April 2022, Novelis announced that it is investing more than USD 30 Million to build a new continuous annealing line at its Plettenberg-Ohle, Germany, facility, which will double the plant's capacity for aluminum in the production of coffee capsules. The development represents the inaction of the company strategy for growing line solutions for sustainable packaging.
- In November 2021, ProAmpac 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.
- In August 2021, ProAmpac introduced the HC-Series of healthcare products, consisting of HC-600 high barrier films, which can be used in a variety of market applications. The HC-600W films are ideal for packaging traditional fragrance-containing products or disinfection agents.
Key Segments Covered in the Aluminum Foil Packaging Industry Survey
- By Product:
- Aluminum Foil Wraps
- Aluminum Pouches
- Aluminum Blisters
- Aluminum Containers
- Other Aluminum Foil Packaging Products
- By End User:
- Aluminum Foil Packaging for Food & Beverage
- Aluminum Foil Packaging for Tobacco Industry
- Aluminum Foil Packaging for Pharmaceuticals
- Aluminum Foil Packaging for Cosmetics
- Aluminum Foil Packaging for Others
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More Valuable Perception
Fact.MR, in its new offering, presents an unbiased analysis of the aluminium foil packaging market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on the product type (foil wraps, pouches, blisters, containers, and other packaging products), end-users (food and beverage, tobacco industry, cosmetics, pharmaceuticals, and other sectors), and across six major regions of the world.
Key Questions Covered in the Aluminum Foil Packaging Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Aluminum Foil Packaging sales grow until 2033?
- Which are the factors hampering the Aluminum Foil Packaging demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Aluminum Foil Packaging Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Medical Flexible Packaging Market Share: In FY 2022, the aluminum foil packaging market share reached a valuation of US$ 26,666.1 Million, and is likely to register a Y-o-Y growth rate of 4.0% in 2023, closing at US$ 28,051.4 Million.
Pharma Blisters Packaging Market Share: The pharma blister packaging market share is estimated to reach US$ 10.5 Bn in 2022 and is projected to reach US$ 19 Bn by 2032, at a 6% CAGR from 2022-2032.
Food Service Packaging Market Revenue: The global food service packaging (FSP) market revenue is estimated to be valued at US$ 64.1 billion in 2023 and it is anticipated to grow at a CAGR of 6.0% to reach US$ 114.7 billion by the end of 2033.
On the go Food Packaging Market Forecast: The global on-the-go food packaging market forecast 2022-2032 is estimated at USD 1,952 Million in 2022 and is forecast to surpass USD 3,760 Million by 2032, growing at a CAGR of 6.8% by 2032.
Retail Ready Packaging Sales: The global retail ready packaging sales estimated at USD 66.4 Billion in 2022 and is forecast to surpass USD 121.5 Billion by 2032, growing at a CAGR of 6.2% during 2022-2032.
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