Global Aluminum Foil Packaging Market: Snapshot
The demand in the global aluminum foil packaging market is anticipated to increment at a CAGR of 4.8% during the forecast period of 2017 to 2025. This prosperity of the market for aluminum foil packaging is a reflection of a number of factors, such as high preference for convenience packaging, growing demand for extended shelf-life of packaged food, popularity of ready-to-eat meals and processed food, and growing usage in pharmaceutical products and confectionaries. On the other hand, the lack of proper recycling processes in a number of countries and competition from alternatives are a few obstructions faced by the global aluminum foil packaging market. Nevertheless, growing emphasis on ecofriendly packaging and foray by the key companies in the emerging economies is expected to open new opportunities in the aluminum foil packaging market.
Demand for 0.09 mm to 0.2 mm Thick Foils Augmenting
Based on thickness, the global aluminum foil packaging market has been segmented into 0.07 mm – 0.09 mm, 0.09 mm – 0.2 mm, and 0.2 mm – 0.4 mm. Globally, the 0.09 mm – 0.2 mm segment is estimated to dominate the market, accounting for more than 50% share of the market value in 2017, by thickness. The 0.2 mm – 0.4 mm segment is anticipated to witness a decline in market share, as any thickness above 0.2 mm is not accepted as foil, and is considered as ‘sheet’. However, many companies do sell aluminum foil above a thickness of 0.2 mm. The majority of the contribution to growth of the 0.2 - 0.4 mm segment is from emerging economies. The Europe and North America regions are to witness negligible consumption of aluminum foil for packaging, above a thickness of 0.2 mm.
Printed and unprinted are two foil-type categories of the aluminum foil packaging market, with the latter accounting for more than two-third of the overall demand in 2017. Among foil packaging applications, the food segment is anticipated to dominate the market, over the forecast period. Aluminum foil packaging currently finds most applications in the ready-to-eat meals sub-segment. The global aluminum foil packaging market by end use, has been bifurcated into bags & pouches, wraps & rolls, blisters, lids, laminated tubes, and trays. Among these, wraps & rolls segment is anticipated to be the dominating segment, over the forecast period.
Asia Pacific Most Lucrative Region, and will Remain So
Geographically, the global aluminum foil packaging market has been classified into North America, Asia Pacific, Europe, Latin America, and The Middle East and Africa. In 2017, Asia Pacific accounted for 32.7% of the global demand, and is projected for a CAGR of 5.5% during the forecast period – the most promising growth rate too among all the regions. This significant rise is attributed to increase in spending on healthcare, personal care, and rising consumption of packaged ready-to-eat food, owing to changing lifestyle. China, India, Japan, Australia, and New Zealand are identified as most profitable country-wide markets in the APAC region, wherein some vendors also produce aluminum foil of thickness above 0.2 mm. The market share of Europe region is expected to decrease over the years and is anticipated to reach 22.2% of the global aluminum foil packaging market in 2025, from 24.8% in 2016.
The global aluminum foil packaging market is fragmented in nature, with China Hongqiao Group Limited holding the pole position. Some of the other prominent players of this market are: Hindalco Indistries Ltd, United Company RUSAL Plc., Amcor Limited, Eurofoil, Pactic LLC, Hulamin Ltd, Alcoa Corporation, Novelis Inc., Ess Dee Aluminium Ltd, Penny Plate, LLC, Wyda Packaging (Pty) Ltd., Alufoil Products Pvt. Ltd, and Nicholl Food Packaging.
Global Aluminum Foil Packaging Market: Overview
Transparency Market Research examines the global aluminum foil packaging market for the forecast period 2017-2025. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global aluminum foil packaging market.
The report begins with an overview of the global aluminum foil packaging market, evaluating market performance in terms of revenue, followed by TMR’s analysis of key trends, drivers and restraints witnessed in the global Aluminum foil packaging as well as aluminum market. Weighted average pricing analysis of aluminum foil based on thickness is also included in the report.
Global Aluminum Foil Packaging Market: Key Research Aspects
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by foil type, thickness, applications, and end uses have been assimilated to arrive at the market estimates. The report comprises the forecast of the global revenue generated by sales of aluminum foil for packaging.
TMR triangulates the data via different analysis based on supply side, demand side, as well as dynamics of aluminum foil packaging market. TMR not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Global Aluminum Foil Packaging Market: Segmentations
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of foil type, thickness, applications, end use, and region. The report analyses the global aluminum foil packaging market in terms of value (US$ Mn) and volume (‘000 Tons). Vital feature of this report is the analysis of the global aluminum foil packaging market by region, foil type, thickness, applications, and end uses; and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to provide potential resources from sales perspective of the global aluminum foil packaging market.
To understand key segments in terms of their growth and performance in the aluminum foil packaging market, Transparency Market Research has developed a market attractive index. The resulting index should help providers identify existing market opportunities in the global aluminum foil packaging market.
Global Aluminum Foil Packaging Market: Competitive Landscape
In the final section of the report, aluminum foil packaging market competitive landscape has been included to provide a dashboard view of companies that manufacture and provide aluminum foil. The report contains company profiles of some of the players in the aluminum foil packaging market.
Few of the key players in the global aluminum foil packaging market include China Hongqiao Group Limited, United Company RUSAL Plc, Amcor Limited, Hindalco Indistries Ltd, Hulamin Ltd, Alcoa Corporation, Ess Dee Aluminium Ltd, Novelis Inc., Eurofoil, Pactic LLC, Penny Plate, LLC, Alufoil Products Pvt. Ltd, Wyda Packaging (Pty) Ltd., and Nicholl Food Packaging.
The global aluminum foil packaging market has been segmented as follows -
- 007 mm – 0.09 mm
- 09 mm – 0.2 mm
- 2 mm – 0.4 mm
By Foil Type
- Bakery and Confectionary
- Personal Care and Cosmetics
By End Use
- Bags & Pouches
- Wraps & Rolls
- Laminated Tubes
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)