According to the report, the global aluminum foil packaging market will
exhibit a 4.8% CAGR from 2017 to 2025, rising from a valuation of
US$20.8 bn in 2016 to a revenue opportunity of US$31.5 bn by 2025.
The global market for aluminum foil
packaging features an extremely fragmented vendor landscape, with the
leading 12 companies collectively holding only around 10.1% of the
overall market in 2017, observes Transparency Market Research in a
recent report. Alongside internal struggles in the way of attaining a
larger hold of the market, external challenges such as easy availability
of substitute packaging options continue to make the aluminum foil
packaging continues to be intensely competitive. Focus on improved and
more proliferative marketing strategies, expansion across emerging
economies that are witnessing a vast rise in the number of modern retail
outlets such as supermarkets and hypermarkets, and strategic
collaborations with smaller players with well-developed distribution
channels could help companies gain traction.
Some of the leading companies in the
market are Ess Dee Aluminium Ltd, United Company RUSAL Plc., Amcor
Limited, China Hongqiao Group Limited, Eurofoil, Hulamin Ltd, Pactic
LLC, and Hindalco Indistries Ltd.
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Based on thickness, the segment of 0.09
mm to 0.2 mm serves the dominant share of demand and is likely to expand
at the most prominent CAGR over the forecast period as well. In terms
of type, the segment of unprinted foil serves a notably larger share of
demand as compared to the segment of printed foils. Geographically, the
market in Asia Pacific is presently the most lucrative regional market
and is likely to remain so over the forecast period as well. The key
factors driving the Asia Pacific aluminum foil packaging market include
the high population, a thriving food and beverages industry, and
increased uptake of packaged foods and beverages across emerging
economies.
Increased Demand for Packaged Foods to Drive Market
The increased demand for convenience
packaging and the steadily rising demand for packaging products capable
of extending the shelf life of packaged foods globally are some of the
most crucial factors driving the global aluminum foil packaging market.
The high use of aluminum foils in flexible packaging solutions is also a
key factor driving its demand. Moreover, high barrier properties, light
weight, and recyclable nature also increase improve the suitability of
aluminum foil, making it application for a vast set of application
areas. Over the next few years, the market is likely to gain notable
traction owing to rising demand from the sectors of processed foods and
ready-to-eat meals.
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