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.
As per a report by Transparency Market Research the global aluminum foil packaging market is expected to witness a consistent growth from the duration of 2017 to 2025. This growth of the market can be attributed to growing demand by food and beverages industry to deliver fresh and hot food to its customer. Due to this demand, the global aluminum foil packaging market is projected to experience 4.8% CAGR during the forecast period of 2017 to 2025. Moreover, growing use of aluminum foil packaging in domestic sector is also anticipated to fuel the growth of global aluminum foil packaging market during the tenure of 2017 to 2025.
Growing Consumption of Packaged Food to Boost the Growth
Due to busy work schedule and hectic lifestyle, people are inclining towards packaged foods. This inclination has propelled the demand for packaged food with better shelf-life in the market. Since aluminum foil helps in improving the shelf-life of the food product, hence the demand for this foil is also expected to grow in coming years. Due to this growing demand for the aluminum foil the global aluminum foil packaging market is gaining a major traction during the tenure of 2017 to 2025.
The 0.09 to 0.2 mm Segment to Generate Maximum Revenue
On the basis of thickness the global aluminum foil packaging market is classified into 0.07 mm, 0.09 mm, 0.09 to 0.2mm, and 0.2 to 0.4 mm. Amongst these segments, the 0.09 mm to 0.2 mm segment is anticipated to show maximum growth. This domination of the segment is attributed to the growing commercial and domestic applications of the aluminum foils. Wrapping lunch boxes with aluminum foil has become a general practice for the majority of the people. Moreover, cost-efficiency of this type of aluminum foil is also a major factor that is propelling the growth of 0.09 to 0.2mm segment of global aluminum foil packaging market from 2017 to 2025.
Printed Aluminum Foils are the New Sensation in the Market
Under type category the classification of global aluminum foil packaging market is into two segments, printed and non-printed aluminum foils. Out of these segments, the printed aluminum foils are gaining major traction these days. The dominance of the segment is attributed to growing preference of end-users to use printed aluminum foils for packaging. As a result of this rising preference, the printed aluminum foils segment is growing predominantly in global aluminum foil packaging market during the forecast period of 2017 to 2025.
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Asia Pacific is Projected to be the Most Lucrative Region
Asia Pacific is expected to emerge as the largest revenue generating region of global aluminum foil packaging market. The prominence of the region is the result of growing use of aluminum foil in both the domestic and commercial sectors. Due to this growth in the application Asia Pacific is projected to emerge as the most profitable region for the players of global aluminum foil packaging market from the tenure of 2017 to 2025.