According to a recently published market research report, the global aluminium foil packaging market is expected to witness a steady stable growth over 2015 - 2023. Increase in both, demand and consumption of consumer goods is expected to drive growth of the market for aluminium foil packaging in the emerging economies. China is expected to account for nearly half of the overall market share in the coming years. The global aluminium foil packaging market is expected to expand within a range of low to moderate CAGR in the coming years.
Projected increase in the demand and consumption of consumer goods in emerging countries, such as China, is expected to drive growth of the aluminium foil packaging market over the forecast period, data published in the report indicates. Rise in the disposable income in developing countries is also favoring growth of the market currently. As the transition from fresh foods to packaged foods is recent, awareness about aluminium foil packaging in the emerging countries across the globe is still very less, which clearly showcases the growth potential that the market has in such countries. Less production and volatility in raw material prices is the major factor expected to restrain growth of the aluminium foil packaging market over the coming years.
The aluminium foil packaging market is segmented based on type and application. By type, the global aluminium foil packaging market is segmented as plain, laminated, lacquered, and printed. Based on application, the market is segmented into food and beverage packing, pharmaceutical use, technical use, container foil, household foil, heat exchangers, and strip and foils for tubes.
Based on geography, the aluminium foil packaging market is segmented into seven regions, namely North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. Consumption and demand for aluminium foils has been observed to be the highest in China. Currently, food & beverage and construction industries are the biggest end users of aluminium foil packaging in China. Meanwhile, the market for aluminium foil packaging in North America and Asia is steadily growing.
Some of the key players, identified in the report, in the global aluminium foil packaging market are Amcor Ltd., Novelis Inc., Coppice Alupack Ltd., Ardagh Group, Comital Group, Danpack International B.V., Toyo Aluminium Ecko Products, Co., Ltd., Novelis Eurofill Ltd., Flexifoil Packaging Pvt. Ltd., and Alcoa Inc.
