NEWARK, Del, April 19, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global aluminum foil market value is projected to grow from US$ 27,630.4 million in 2024 to US$ 44,787.7 million by 2034. Global sales are set to surge at 4.9% CAGR throughout the assessment period.
Rising consumers' preference for hygienic and convenient packaging has led to a significant increase in the use of aluminum foil globally. Growing emphasis on sustainability and hygiene is set to fuel the Demand for aluminum foil market, highlighting consumer preferences for eco-friendly and efficient packaging options.
Emerging regions such as China and India are witnessing high demand for aluminum foil due to lifestyle shifts, food safety consciousness, and an aging middle class. The global trend towards sanitary and simple packaging solutions fuels the use of aluminum foil, as consumers prioritize freshness, safety, and simplicity in packaging decisions.
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The food industry is experiencing rapid growth due to the growing demand for on-the-go food. Aluminum foil packaging is gaining traction due to its versatility, durability, and barrier properties. Factors contributing to this growth further include urbanization, changing work patterns, increased travel, and the preference for quick, hassle-free meals.
Aluminum foil packaging is used in various industries, including pharmaceuticals, personal care, and electronics, to ensure product integrity, stability, freshness, and reliability. They also reduce waste by eliminating the need for larger containers, minimizing excess consumption, and promoting environmental sustainability.
Key Takeaways from the Global Aluminum Foil Market:
- Global sales of aluminum foil are estimated to be valued at US$ 44,787.7 million in 2034.
- India is projected to grow at a CAGR of 7.4% by 2034.
- Saudi Arabia is set to record a CAGR of 9.2% through 2034.
- Based on packaging type, the bags and pouches segment is set to surge at 4.0% by 2034.
- By application, the food segment is forecast to grow at 4.7% CAGR between 2024 and 2034.
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"Rising e-commerce activities and growth in the food sector are projected to fuel the aluminum foil industry. Manufacturers are developing innovative packaging solutions using aluminum foil, such as pouches, trays, films, and wraps, to meet the growing consumer demand for portable and convenient food options, "- says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Who is Winning?
Amcor Plc, Hindalco Industries Ltd, Constantia Flexibles, Huhtamaki Oyj, Alu Flex AG, Symetal, Reynolds Consumer Products, and GARMCO are the leading companies in the market. The tier 1 players in the market hold 8% to 12% of the aluminum foil industry.
Leading companies are launching new products in the market. They are integrating with different firms and inflating their geographical presence. They are also collaborating and partnering with start-ups for product development. Recent activities and developments implemented by the leading companies in the market are:
- In April 2023, Amcor plc collaborated with Tyson Foods to deliver new, more sustainable packaging that offers up to 70% carbon footprint reduction over conventional packaging.
- In April 2023, Constantia Flexibles Group Gmbh acquired Lászlópack Kft.
Key Companies Profiled:
- Amcor Plc.
- Hindalco Industries Ltd
- Constantia Flexibles
- Huhtamaki Oyj
- Alu Flex AG
- Symetal
- Reynolds Consumer Products
- GARMCO
- Toyo Aluminum Ecko Products
- ALUVIN
- ACG World Wide
- Eurofoil Luxemberg
- Penny Plate, LLC
- Neelam Global Pvt Ltd
- SNTO Holdings Group
- UACJ Foil Corporation.
- Henan Huawei Aluminum Co., Ltd.
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Global Aluminum Foil Market Report:
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global aluminium foil market, analysing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals market growth projections based on thickness (up to 6 micron, 7 micron, 8 micron, 9 micron, 10 micron, 11 micron, 12 micron, 13 to 18 microns, 19 to 25 microns), application (food, beverages, pharmaceuticals, personal care & cosmetics, other industrial), packaging type (bags & pouches, wraps & rolls, blisters, lids, laminated tubes, trays, aseptic packaging, sachets & labels), type (household, commercial), and region.
Market Segmentation:
By Thickness:
- Upto 6 Micron
- 7 Micron
- 8 Micron
- 9 Micron
- 10 Micron
- 11 Micron
- 12 Micron
- 13 to 18 Microns
- 19 to 25 Microns
By Application:
- Food
- Dairy
- Bakery & Confectionary
- Ready - to - Eat Food
- Beverages
- Ready to Drink
- Juices
- Coffee & Tea
- Pharmaceuticals
- Personal Care & Cosmetics
- Healthcare Products
- Nail care Products
- Skin care Products
- Other Industrial
By Packaging Type:
- Bags & Pouches
- Retort Pouches
- Aluminum Bags
- Wraps & Rolls
- Blisters
- Lids
- Laminated Tubes
- Trays
- Aseptic Packaging
- Sachets & Labels
By Type:
- Household
- Commercial
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Have a Look at Related Research Reports on Packaging Domain:
The aluminum foil containers market is expected to reach a valuation of US$ 3.8 billion in 2023 and record a CAGR of 5.5%. The valuation is projected to reach US$ 6.5 billion over the forecast period.
In 2023, the global aluminum foil lids market was valued at US$ 1.8 billion. The market is expected to reach approximately US$ 2.8 billion by 2033, with a growing CAGR of 4.8% from 2023 to 2033.
The global aluminium foil sachet market is anticipated to accumulate a market value of US$ 22.4 billion in 2023 and is expected to garner a market valuation of US$ 35.6 billion by exhibiting a CAGR of 4.7 % in the forecast period 2023 to 2033.
Performance in hot and cold temperatures is an essential feature of any tape’s performance – especially those used in demanding applications. These foil tapes are precisely fabricated with updated machinery & quality accepted adhesive materials
The foil labels market is likely to record a CAGR of 4% through 2032. The market is anticipated to reach a valuation of US$ 52.76 Billion by 2032, up from US$ 35.64 Billion in 2022.
Global sales of aluminum ROPP closures are estimated to be valued at US$ 3,123.6 million in 2024 and US$ 4,170.2 million by 2034. Sales are projected to expand at a CAGR of 2.9% over the forecast period.
The global sachet packaging market is expected to attain a valuation of US$ 9,814.3 million in 2023. From 2023 to 2033, this demand is further projected to reach US$ 17,381.9 million, registering a CAGR of 5.9%.
Sales of sachet packaging machines are currently valued at US$ 563.8 Million in 2022. The global sachet packaging machines market is projected to progress at a steady CAGR of 5.8% and attain a valuation of US$ 867.4 Million by the end of 2029.
The aluminum foil zipper pouch market is likely to register a CAGR of 4% during the forecast period and is anticipated to reach a market share of US$ 21.55 Billion in 2032, from US$ 13.46 Billion in 2020
The aluminium-free food pouch market is likely to record a CAGR of 6% through 2032. The market is expected to reach valuation of US$ 38.16 Billion in 2022, and is likely to reach a valuation of US$ 68.34 Billion by 2032.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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