Authored By: Sarah
11 Jul 2024

 Aluminum Foil Market to grow by USD 9.32 billion between 2024-2028

According to a research report “ Aluminum Foil Market” by Product (Wrapper foils, Container foils, Blister packs, Pouches, Others) Application (Food and beverage packaging, Consumer packaging, Pharmaceutical packaging, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 9.32 billion at a CAGR of almost 5.95% during the forecast period. The aluminum foil market experiences significant growth due to shifting consumer preferences towards convenience foods and the expansion of the processed food industry. Lightweight packaging is essential for fast food and convenience items, driving demand for advanced aluminum foil-based solutions. These innovative packaging options cater to the need for functional, easy-to-carry, and safe packaging materials for processed foods, aligning with the increasing market trend towards lightweight and convenient packaging solutions..

Browse market data tables, figures, and in-depth TOC on “Aluminum Foil Market” by Product (Wrapper foils, Container foils, Blister packs, Pouches, Others) Application (Food and beverage packaging, Consumer packaging, Pharmaceutical packaging, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028.

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By Product, the Wrapper foils segment is projected to dominate the market size in 2024.

In the dynamic food and beverage industry, aluminum foil plays a pivotal role as a preferred packaging solution. This market segment utilizes aluminum foil extensively for fresh, processed, and semi-processed food and beverage items, including candies, chocolates, bar chocolates, chewing gums, biscuits, cottage cheese, capping of dairy foods, processed cheese, and oil and fat products. Vendors invest substantially in aluminum foil packaging to cater to evolving consumer preferences and remain competitive, with advancements in food packaging technologies enhancing product value and attracting new customers.

By Application, Food and beverage packaging  segment is expected to hold the largest market size for the year 2024.

In the aluminum foil market, wrapper foils hold a substantial market share due to their application in packaging industries. These foils offer superior barrier properties, safeguarding products from moisture, light, and contaminants. Suitable for food and beverage, pharmaceutical, and sensitive goods sectors, wrapper foils' ability to extend product shelf life is a key business advantage. The growing preference for lightweight and convenient packaging solutions across industries fuels the demand for wrapper foils.

APAC is forecasted to hold the largest market size by region in 2024.

In the Asia Pacific (APAC) region, key developing economies, including China, India, Japan, Indonesia, Australia, Thailand, South Korea, and Singapore, are experiencing a surge in aluminum foil adoption. This trend is primarily driven by the expanding household disposable income, fueling the demand for processed and packaged food and beverages. Urbanization in India and China, resulting in a larger working population, has instigated modernized food consumption habits. Moreover, rising income levels and the growing preference for Western foods have significantly impacted the processed food sector, generating lucrative opportunities for the food service industry in APAC.

The Aluminum Foil Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alcoa Corp.
  • All Foils Inc.
  • Alufoil Products Pvt. Ltd.
  • Amcor Plc
  • ARD Finance S.A.
  • Assan Aluminyum Sanayi ve Ticaret A.S.
  • Carcano Antonio Spa
  • China Hongqiao Group Ltd.
  • Constellium SE
  • Eurofoil
  • Granges AB
  • Henan Huawei Aluminum Co. Ltd.
  • Hindalco Industries Ltd.
  • Merck KGaA
  • Montana Tech Components AG
  • Norsk Hydro ASA
  • Oceanic Foil Pack
  • Thermo Fisher Scientific Inc.
  • UACJ Corp.
  • United Company RUSAL
.

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Research Analysis Overview

The Aluminum Foil market encompasses a wide range of applications, including pet food packaging, flexible films for food safety, and aluminum cans for recyclable goods. This market is driven by the demand for high-quality standards in the food industry, as well as the need for oxidation resistance, moisture resistance, and high barrier properties to ensure product shelf life. Aluminum foil is also used in various industries such as e-commerce, pharmaceuticals, cosmetics, beverages, and electronics. In the electronics sector, aluminum foil is used in electrolytic capacitors, lithium-ion batteries, and batteries for air conditioning systems and electric vehicles (EVs). Its lightweight and recyclable nature make it an ideal choice for various applications. Additionally, the growing trend towards organic goods and drinks further boosts the demand for aluminum foil in the market.

Market Research Overview

The Aluminum Foil Market encompasses a wide range of applications in various sectors, including consumer durables, Food and Beverages (FMCG), and Pharmaceuticals. Aluminum foil is used extensively in packaging for products such as blister packs, containers, and foils for soup, coffee, tuna, pet food, and drinks. The use of aluminum foil in FMCG products ensures product shelf life and maintains food safety through its oxidation resistance, high barrier properties, and moisture resistance. Upcoming regulations in the Food segment require stricter quality standards for packaging materials, making recyclable aluminum foil an attractive option. The e-commerce industry and takeaway outlets also contribute significantly to the demand for aluminum foil in packaging applications. Aluminum foil is also used in industrial applications, such as in the production of electrolytic capacitors, lithium-ion batteries, and insulating properties in building insulation. The recyclability of aluminum foil makes it an environmentally friendly choice, reducing carbon emissions and contributing to energy-saving equipment in various industries. The raw material prices for aluminum, including bauxite mining and alumina production, can impact the cost of aluminum foil. However, the lightweight and corrosion-resistant properties of aluminum foil make it a cost-effective solution for various applications in the long run.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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