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Aluminum Foil Packaging Market Expand CAGR of ~5% Assessment for the Driving Factors and Opportunities During 2023-2033

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Aluminum foil packaging market can majorly be attributed to the new product launches in the market by major key players.

NEW YORK, NEW YORK, UNITED STATES, January 19, 2023 /EINPresswire.com/ -- Global Aluminum Foil Packaging Market Key Insights During the forecast period of 2023-2033, the global aluminum foil packaging market is expected to reach an estimated value of ~USD 50 billion by 2033, by expanding at a CAGR of ~5%. The market further generated a revenue of ~USD 35 billion in the year 2022. Major key factors propelling the growth of aluminum foil packaging market worldwide are the higher demand of coffee and tea and of baby food packaging.

Market Definition of Aluminum Foil Packaging

Aluminum foil is a crucial component of laminates and is frequently employed in the food packaging sector. It performs better than any plastic laminated material when it comes to resistance to moisture, oxygen and other gas sedimentation, and exposure to light. Aluminum is the perfect material for packaging applications because of its adaptability. Aluminum foil has a number of qualities, including fluidity, lighter volume, sturdiness and the ability to be molded into the desired shape. Aluminum is easily available on the earth and its recyclable nature made it perfect for packaging industry.

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Global Aluminum Foil Packaging Market: Growth Drivers

The growth of the global aluminum foil packaging market can majorly be attributed to the new product launches in the market by major key players. Amcor Limited introduces the DairySeal, an improved series of ready-to-drink dairy product packaging that uses ClearCor, an enhanced polyethylene terephthalate (PET). This packaging solution’s technology can preserve freshness and flavor. Moreover, BOPET high barrier film F-UHB-M launched by Flex Films. The film is intended to take the place of aluminium foil in flexible packaging applications in order to address the problems faced by the converting industry, which has long relied on aluminium foil for packaging despite a number of its drawbacks, including material availability, high material cost, and weak integrity, among others. On the other hand, the market growth can also be attributed to increased consumption of ready-to-eat meals is also projected to drive the market growth. In 2021, the entire volume of packaged food sales was predicted to reach around 35 thousand metric tons, and in 2022, it was estimated that ready-to-eat meal sales would earn nearly USD 0.50 trillion in revenue.

The global aluminum foil packaging market is also estimated to grow majorly on account of the following:

Higher consumption of packaged snacks
Rise in purchase of packaged beverages
Surging demand of baby food products
New product launches by key market players
Escalating production of tea and coffee
Global Aluminum Foil Packaging Market: Restraining Factor

The market has other options instead of aluminium foil, supply chain has been hampered by the onset of pandemic, and the initial investment in the aluminium foil packaging business is very high. Hence this factor is expected to be the major hindrance for the growth of the global aluminum foil packaging market during the forecast period.

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Global Aluminum Foil Packaging Market Segmentation

By Product (Blisters, Containers, Foil Wraps, Pouches, and Others)
By Packaging Type (Flexible, Rigid, Semi-Rigid, and Others)
By End User Industry (Cosmetics, Food & Beverage, Pharmaceutical, and Others)
Out of all, the food & beverage segment is to garner the highest market revenue at the end of 2033. The segment is to grow on the account of higher number of people consuming packaged food and beverage including water. The food and beverage market was projected to generate about USD 0.75 billion by 2022. Moreover, the global market for bottled water brought in about 259 billion dollars in revenue in 2020.

By Region
The Asia Pacific aluminum foil packaging market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The market growth in the Asia Pacific is to grow on the account of up surge in the consumption of processed food, bottled water and packaged food. In China, packaged food retail sales were estimated to be 284 billion dollars in 2020. Retail sales of packaged foods are anticipated to increase over the coming years at a CAGR of 5.3 percent, reaching 366.7 billion US dollars in 2025. Moreover, bottled water sales in the Asian nation increased by almost 5% to 2,712.4 million liters in 2020 from the 2,869.3 million liters reported the year before, one of the longest lockdowns in history.

The market research report on global aluminum foil packaging also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Aluminum Foil Packaging Market

Some of the key players of the global aluminum foil packaging market are Handi-foil Corporation, Novelis Deutschland GmbH, Aleris International, Inc., Flexifoil Packaging Pvt. Ltd., Reynold India Private Limited, Amcor Limited, Ardagh Group S.A., Tetra Laval Group, Revere Packaging, LLC, All Foils, Inc., and others.

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