Global Aluminum Foil Packaging Market Size was valued at USD 31.8 billion in 2021. The Aluminum Foil Packaging market industry is projected to grow from USD 33.3 Billion in 2022 to USD 47.7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period (2022 - 2030). Advancement in packaging technology and reliance on robust materials driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Aluminum Foil Packaging Market Trends
The rising application of aluminum foil in food and beverage packaging application is likely to be a key driving factor for the industry’s growth. The processed food industry is witnessing high growth owing to the increasing urban population along with changing consumer lifestyles. Furthermore, the availability of packaged food products through online channels is supporting the growth of the food and beverage industry, which in turn is expected to have a positive impact on industry growth. Advancements in the technical field such as the development of modified atmosphere technology (MAP) which aids in locking the freshness of food by controlling the blend of gases such as oxygen, carbon dioxide, and nitrogen inside the flexible packaging are expected to support the industry growth.
to cater the demand there has been significant advances in the treatment innovations. The rising demand of food and beverages from online groceries are contributing to revenue, because of its versatility aluminum is a great choice for packaging applications and other advantageous qualities like deformability, mobility, lightweight, strength and flexibility are another factors driving the growth of the Aluminum Foil Packaging market revenue.
Aluminum Foil Packaging Market Segment Insights
Aluminum Foil Packaging Type Insights
The global Aluminum Foil Packaging market segmentation, based on packaging type, includes rigid and flexible packaging. The rigid Aluminum Foil Packaging segment held the majority share in 2021 contributing to around ~61.20% with respect to the global Aluminum Foil Packaging market revenue. The purpose of rigid packaging is to provide protection and endure possible impacts without breaking or losing integrity. Because of this, rigid containers are frequently used to keep goods that need more defense from harm, heat, light, scents, and other factors. Typical illustrations of rigid packaging include boxes made of cardboard that are used for snacks and cereal. For jellies, sauces, condiments, and produce, glass jars are utilized. For scents and other beauty goods, glass bottles are employed. bottled water and other liquids in plastic. containers made of plastic for yogurt and other snacks. powder containers made of plastic. Metal cans that are used for durable goods.
Figure 2: Global Aluminum Foil Packaging Market, by Type, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Flexible packaging offers lightweight and space-saving protection for a variety of products, including those that are single-use or don't need to be resealed. Stretch wrap and other secondary packaging items, which integrate several products and safeguard them during storage or transportation, are other instances of flexible packaging. The following are typical instances of flexible packaging: Used plastic bags for food such as chips. bags made of plastic that is used for candy. fragile objects are protected with bubble wrap. baked products and other fresh delicacies are protected in paper bags. Coffee is packaged in foil to maintain its freshness. Heat shrink film is used to shield electronic devices, DVDs, and other items. Using the stretch wrap to safeguard pallets
January 2022: Amcor launched a new platform of paper-based packaging products: AmFiber. AmFiber innovations aim to redefine the capabilities of traditional paper packaging by providing a broader range of features and functional benefits to meet consumers' changing needs.
April 2022: Novelis announced that it is investing more than USD 30 million to build a new continuous annealing line at its plettenberg-ohle. The development represents the inaction of the company strategy for growing line solutions for sustainable packaging.
Aluminum Foil Packaging Application Insights
The global Aluminum Foil Packaging market segmentation, based on application, includes food and beverages, pharmaceuticals, cosmetics, and others. The double-sided segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The rising demand for food and beverages from online food channels and from the pharmaceutical sector has driven the growth of this sector to a large extent. Hence, rising demand for applications of segment food and beverages application for Aluminum Foil Packaging positively impact the market growth.
Aluminum Foil Packaging End User Insights
The global Aluminum Foil Packaging market data has been bifurcated by end user into bags and pouches, wraps and rolls, blister, laminated tubes and trays. The wraps and rolls segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. They are used as one of the layers in snack pouches, liquid cartons, candy wraps, confectionery wraps, and pharmaceutical pouches or bags. These extensive applications across end-use industries have made foil wraps a prominent product segment.
April 2021: Amcor announced Polyethylene-based thermoform blister packaging. The new packaging is intended to meet the stringent requirements of highly specialized and regulated pharmaceutical packaging, as well as to provide a more sustainable alternative to the most popular type of healthcare packaging. This approval has further broadened the growth opportunity for the Aluminum Foil Packaging industry.
Aluminum Foil Packaging Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America comprises potential economies such as the US, Canada, and Mexico. Due to its effectiveness in single-dose packaging and user-friendliness, U.S. pharmaceutical producers are increasingly adopting flexible packaging products like blisters. Due to the growing acceptance of blister packs, aluminum foil packaging is anticipated to experience significant growth. More and more individuals of the working population in the United States are resorting to prepackaged food and drink to quench their hunger and thirst as a result of their increasingly busy lives. The increased public awareness of the detrimental impacts of plastic is another element supporting the aluminum packaging industry.
Further, the major countries studied are US., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: GLOBAL ALUMINUM FOIL PACKAGING MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Aluminum Foil Packaging market accounts for the second-largest market share due to growing consumer interest in eco-friendly packaging options. Hope for the industry can also be found in the stringent government regulations put in place in the area to reduce the use of plastic packaging. Further, the Germany Aluminum Foil Packaging market held the largest market share, and the UK Aluminum Foil Packaging market was the fastest-growing market in the European region
The Asia-Pacific Aluminum Foil Packaging Market is expected to grow at a CAGR of 3.10 % from 2022 to 2030. The Asia-Pacific region is expected to have the largest Aluminum Foil Packaging market share. During the forecast period, which will end in 2028, the region is also expected to be the fastest-growing market. The buying of packaged items is become more preferred in these countries. Asia-Pacific is the most enticing market in the globe because of the region's developing nations' growing middle class and their need for better food and other consumer goods. The demand for packaged goods has increased in the Asia-Pacific region due to growing living standards and consumer disposable income. The pharmaceutical industry is gaining from increased consumer expenditure. Moreover, China Aluminum Foil Packaging market held the largest market share, and the India Aluminum Foil Packaging market was the fastest-growing market in the Asia-Pacific region.
The surging consumption of processed food and rising technologies for packaging printing drive the growth of the Aluminum Foil Packaging market in India. Aluminum Foil Packaging are a high-quality choice for applying labels on food & beverage. Also, they are frequently used to attach labels to non-food items since they have a good grip on paper, plastic, and other labeling materials. Aluminum Foil Packaging are used in the packing industry to successfully seal boxes and cartons, as well as for pallet sealing and stability.
Aluminum Foil Packaging Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Aluminum Foil Packaging market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Aluminum Foil Packaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global Aluminum Foil Packaging industry to benefit clients and expand the Aluminum Foil Packaging market sector is to manufacture locally to reduce operating costs. In recent years, Aluminum Foil Packaging have provided medicine with some of the most significant benefits.
Amcor plc is a global packaging company. It develops and produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products. In January 2022, Amcor launched a new platform of paper-based packaging products: AmFiber. AmFiber innovations aim to redefine the capabilities of traditional paper packaging by providing a broader range of features and functional benefits to meet consumers' changing needs.
Also, Novelis is a manufacturing and recycling footprint to deliver consistent, high-quality products around the world. 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. The development represents the inaction of the company strategy for growing line solutions for sustainable packaging.
Key Companies in the Aluminum Foil Packaging market include
Aluminum Foil Packaging Industry Developments
September 2022: Novelis Inc. announced the company's new laminated aluminum surfaces for beverage can ends that will be showcased September 27 to 29 at ALUMINIUM 2022 in Düsseldorf. This innovative application improves the appearance of beverage containers, increases production process efficiencies, and reduces CO2 emissions for European beverage brands and can manufacturers. As a result, Novelis' leadership in the expanding market for aluminum beverage packaging is strengthened.
October 2022: Alcoa Corporation announced an additional power purchase agreement to support the future restart of the San Ciprián aluminum smelter in Spain. The agreement will provide power balancing services for the smelter load from 2024 to at least 2030.
Aluminum Foil Packaging Market Segmentation
Aluminum Foil Packaging Type Outlook
Aluminum Foil Packaging Application Type Outlook
Aluminum Foil Packaging End User Outlook
Aluminum Foil Packaging Regional Outlook
|Market Size 2021||USD 31.8 billion|
|Market Size 2022||USD 33.3 billion|
|Market Size 2030||USD 47.4 billion|
|Compound Annual Growth Rate (CAGR)||4.5% (2022-2030)|
|Historical Data||2018 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Packaging Type, Application, End User, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Amcor ltd. (Australia), China hongqiao group limited(China), United Company RUSAL plc. (Russia), Ess Dee Aluminum ltd (India), Alufoil Products PVt. Ltd. (India), Nicholl Food Packaging (U.K.), Penny plate, LLC (US), WYda packaging (Pty) ltd (south africa), Alcoa corporation (US), Novelis inc. (US), others|
|Key Market Opportunities||Development of new and diversified packaging styles|
|Key Market Dynamics||Advancement in packaging technology and reliance on robust materials driving the market growth|
The USD 31.8 billion in 2021. The Aluminum Foil Packaging market industry is projected to grow from USD 33.3 Billion in 2022 to USD 47.7 billion by 2030
Amcor ltd. (Australia), China hongqiao group limited(China), United Company RUSAL plc. (Russia), Ess Dee Aluminum ltd (India), Alufoil Products PVt. Ltd. (India), Nicholl Food Packaging (U.K.), Penny plate, LLC (US), WYda packaging (Pty) ltd (south africa), Alcoa corporation (US), Novelis inc. (US).