Ottawa, June 22, 2023 (GLOBE NEWSWIRE) -- According to Precedence Research, the global aluminum foil packaging market size was valued at USD 37.39 billion in 2022. Aluminum foil is an essential material in laminates and has a wide range of applications for food packaging. Its resistance to the re-deposition of moisture, oxygen, and other gases and light effects is generally higher than any plastic laminate material. Demand has grown well in these markets due to pharmaceutical and food and beverage growth. Aluminum is abundantly available on Earth and is entirely recyclable.
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The increasing demand for food and beverages from online food channels and the pharmaceutical industry has dramatically stimulated the industry's growth. The versatile nature of aluminum makes it an ideal packaging material. Some of the properties of aluminum foil include strength, lightweight, portability, and flexibility that allow it to be molded into any desired shape. It also protects the product from moisture and sunlight, which covers the final product from damage.
Regional Snapshot:
Europe is expected to witness a significant growth in the aluminum foil packaging market. Due to its ease of use and efficient single-dose packaging, pharmaceutical industries of Europe are moving rapidly towards flexible solutions for packaging like blisters. Aluminum foil packaging is projected to have considerable development opportunities due to this encouraging trend toward blister packs.
Europe has been actively promoting sustainability and recyclability in packaging. Aluminum foil packaging offers excellent recyclability, as aluminum can be recycled indefinitely without losing its properties. The focus on eco-friendly packaging solutions has increased the demand for aluminum foil packaging, as it aligns with the region's sustainability goals. The European aluminum foil packaging market benefits from ongoing technological advancements in manufacturing processes. Advanced techniques, such as laser scoring and embossing, enable the production of innovative and visually appealing packaging designs, meeting the increasing demand for aesthetic packaging solutions.
Report Highlights:
- By product, the market for aluminum packaging is led by aluminum foil wraps, which generate the most money. They are utilized in medicinal packs or pouches, candy wrappers, liquid containers, and snack bags. Aluminum foil is 25–28 microns thick, recyclable, and customizable. Food quality is preserved and protected from air and light by this barrier.
- By end-use, aluminum containers are utilized in the food and beverage sector because they are sanitary, non-toxic, and resistant to light, oils and fats, U.V. radiation, water vapor, oxygen, and germs. They also decrease refrigeration and spoilage. Substances are utilized in pharmaceuticals to guarantee that tablets and capsules are clean and preserved.
- By end-use, the food and beverage segment has accounted for a revenue share of 48% in 2022.
- Asia Pacific region has accounted more than 40% of revenue share in 2022.
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Scope of this report
| Coverage | Details |
| Market Size in 2030 | USD 54.65 Billion |
| CAGR | 4.86% from 2023 to 2032 |
| Asia Pacific Revenue Share | 40% in 2022 |
| Europe Revenue Share | 29% in 2022 |
| North America Revenue Share | 25% in 2022 |
| Key Players | China Hongqiao Group Limited, Amcor Ltd., United Company RUSAL PLC., Ess Dee Aluminum Ltd, Novelis Inc., Alcoa Corporation, Penny Plate LLC, Wyda Packaging Ltd., Nicholi Food Packaging, and Alufoil Products Pvt. Ltd |
Market Dynamics:
Driver:
The rising application of aluminum foils in pharmaceutical sector
The rising application of aluminum foil packaging in the pharmaceutical industry is a significant driver for the market's growth. Protection of pharmaceutical products: Aluminum foil packaging provides excellent protection for pharmaceutical products. It acts as a barrier against moisture, light, oxygen, and other contaminants that can compromise the quality and effectiveness of medications. This is especially crucial for sensitive drugs that are prone to degradation when exposed to these elements. The use of aluminum foil packaging ensures the integrity and stability of pharmaceutical products throughout their shelf life.
Extended shelf life: Aluminum foil packaging helps extend the shelf life of pharmaceutical products. By providing a protective barrier, it prevents moisture absorption, which can lead to chemical degradation or microbial growth. The extended shelf life allows for longer product expiration dates, reducing waste and enabling more efficient inventory management.
Restraint:
Fluctuating raw material costs
Difficult times await the packaging industry due to rising raw material prices. According to entrepreneurs, the prices of essential raw materials, such as aluminum foil, have risen by 70% during the pandemic and transport fees abroad have also increased fivefold. With the recent crisis, industrial demand has fallen sharply worldwide, and packaging materials are no exception. As industry analysts predicted the recovery would be gradual and slow, many packaging companies announced planned closures in 2020 due to weak production. However, as the economy begins to recover, the market will experience an unprecedented increase in demand. The sudden increase in demand created a huge mismatch in the supply and demand environment. Due to this imbalance of demand and supply, prices of raw materials have increased. In addition, the problem is exacerbated by the current global container shortage, which has caused a sharp increase in transport costs, further limiting supply. This complex combination of capacity and supply difficulties, increased demand, and limited availability of transportation options increase market uncertainty.
Opportunity:
Increasing demand for aesthetic packaging
The increasing demand for aesthetic packaging provides a favorable environment for the aluminum foil packaging market to expand its customer base and offer innovative solutions that meet both functional and visual requirements. Aluminum foil packaging offers a visually appealing and premium look. It has a reflective surface that can enhance the presentation of products, making them more attractive to consumers. The shiny and metallic appearance of aluminum foil packaging can contribute to a product's perceived value, especially in industries such as cosmetics, gourmet foods, and beverages.
Aluminum foil packaging can be easily customized to meet specific branding and design requirements. It can be embossed, printed, or colored, allowing companies to create unique and eye-catching packaging designs. This level of customization enables businesses to differentiate their products in a crowded market, attract consumer attention, and build brand recognition.
Challenge:
Shortage or lack of availability of Aluminum
The shortage or lack of availability of aluminum can create significant challenges for the aluminum foil packaging market. When the supply of aluminum is limited, the prices tend to rise. This can lead to higher production costs for aluminum foil packaging manufacturers. The increased costs are likely to be passed on to consumers, making aluminum foil packaging less affordable for both businesses and individuals. Aluminum foil packaging manufacturers heavily rely on a stable and consistent supply of aluminum. A shortage can disrupt the supply chain, causing delays in production and potentially leading to insufficient stock levels. This can create challenges in meeting customer demands and fulfilling orders on time.
Related Reports
- Pharmaceutical Contract Packaging Market - The global pharmaceutical contract packaging market size was valued at USD 31.57 billion in 2021 and it will expand to around USD 57.07 billion by 2030 with a CAGR of 6.8% from 2021 to 2030.
- Blister Packaging Market - The global blister packaging market was valued at USD 25.3 billion in 2021 and it is expanding around USD 41.2 billion by 2030 with a CAGR of 5.57% from 2022 to 2030.
- Pharmaceutical Packaging Market - The global pharmaceutical packaging market was accounted for USD 125.83 billion in 2022 and is expanding around USD 244.12 billion by 2030 with a CAGR of 8.6% from 2021 to 2030.
Recent developments:
- In March 2023, LSKB Aluminum Foils Pvt Ltd launched India's first Gold Embossed HOMEFOIL at the 37th AAHAR International Conference on Food and Hospitality. Bollywood actress Karishma Kapoor unveiled new products from the house's foil category at LSKB Stall at Pragati Maidan, New Delhi. The products are manufactured using innovative technology in safe, environmentally friendly, and well-ventilated areas to maintain hygiene. The package also includes a foil cutter for the safe cutting of the film.
Market Segmentation
By Product
- Foil Wraps
- Pouches
- Blisters
- Containers
- Others
By End Use
- Food & Beverage
- Tobacco
- Pharmaceuticals
- Cosmetic
- Others
By Packaging Type
- Rigid
- Flexible
- Semi-Rigid
By Foil Type
- Printed
- Unprinted
By Thickness
- 0.007 mm – 0.09 mm
- 0.09 mm – 0.2 mm
- 0.2 mm – 0.4 mm
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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