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Global Aluminum Foil Packaging Market 2021: By Packaging Type (Rigid packaging, Flexible packaging, Semi-rigid packaging), By Foil Type (Printed, Unprinted), By Application (Food & beverages, Pharmaceuticals, Cosmetics, Others (electronics and automotive), By End-product (Bags & pouches, Wraps & rolls, Blisters, Laminated tubes, Trays)Global Aluminum Foil Packaging Market is the title of a recently produced report at Trusted Business Insights. The report offers in-depth insights, revenue details, tables and figures, assessments, supporting information, and other vital data regarding the global aluminum foil packaging market. It also includes various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The report includes information regarding the top 10 players operating in the market, their financials, innovations, key developments, strategies, acquisitions & mergers etc. The global aluminum foil packaging market report has been segmented on the basis of packaging type, foil type, application, end-user, and region.Request Covid - 19 Impact The Global Aluminum Foil Packaging market size was valued at USD $19.31 Billion in 2020, USD $20.04 Billion in 2021, forecasted to reach USD $20.78 Billion in 2022, and is projected to reach USD $27.92 Billion by 2030, and is anticipated to expand at a CAGR of 3.73% over the forecast period from 2020 to 2030.
Introduction:aluminum foil packaging is a part of the packaging material and is generally designed using aluminum sheets. Aluminum foil is majorly used in packaging of food products such as fresh and processed meats, poultry, and fish. It helps to prolong shelf life of food and beverage products. It is widely used in the packaging sector owing to numerous properties such as lightweight, durability, flexibility, barrier properties, and recyclable nature.
Dynamics:Increasingly, aluminum foil is being combined with flexible films to create lightweight packages. Increasing demand for convenient packaging materials is a major factor expected to drive growth of the global market. Some key drivers of the global aluminum foil packaging market include significant growth in packaging industries along with rising demand for innovative packaging and excellent barrier properties. Moreover, awareness regarding food safety among consumers and stringent government regulations for food security are among other factors expected to fuel market growth. In addition, growing preference for more compact and lightweight packaging materials is expected to support growth of the global market in the near future. However, easy availability of substitutes such as plastics, rubber, and other packaging materials could hamper demand for aluminum foil and restrain growth of the global market over the forecast period. Recent trends in the market include increasing expenditure on R&D by manufacturers in the global aluminum foil packaging market to improve material handling processes in the supply chain.
Analysis by Segment:
By Packaging Type:On the basis of packaging type, the flexible packaging segment is expected to account for significantly higher revenue share in the market over the forecast period. It is projected to be the most lucrative segment owing to a vast array of products and protective properties.
By Foil type:On the basis of foil type, the market is segmented into printed, and unprinted. The printed foil segment dominates the global market in terms of revenue and is expected to register significant growth over the forecast period. On the basis of end-product, the market is segmented into bags & pouches, wraps & rolls, blisters, laminated tubes, and trays. The bags & pouches segment is expected to account for significant revenue share over the forecast period.
Regional Analysis:The Asia Pacific aluminum foil packaging market dominates the global target market and expected to register significant revenue growth over the forecast period. Increasing number of manufacturing industries and growing retail sector are some of the major factors driving growth of this market currently. Additionally, rising disposable income, coupled with increasing population are factors expected to bolster demand for aluminum foil packaging and drive growth of the global market. The market in North America is expected to register high revenue growth in the near future, followed by the market in Europe. Growth of the Middle East and Africa market is likely to be moderate owing to increasing urbanization coupled with rising disposable income among consumers in countries in the region.
Below are the leading companies profiled in this Aluminum Foil Packaging Market Report:
Chapter 1 Methodology and Scope