A newly published report from Fact.MR expects the aluminum foil packaging market to register a CAGR exceeding 4% and reach $55 billion by the end of the 2021-2031 assessment period. According to the study, aluminum foil packaging revenues will expand one and a half times during the aforementioned forecast period. Driving market growth is its effectiveness as an alternative to plastic-based packaging coupled with its robust structural properties.
Based on the historical performance of the market, sales of aluminum foil packaging products expanded at under 4% CAGR, clocking a valuation exceeding $5 billion by 2020. Extensive sales of essential products, including pharmaceutical products and packaged food products, sustained demand amidst the worst of the COVID-19 pandemic.
Aluminum foil’s thermal conductivity makes it a popular commodity in the market. The report lists aluminum foil’s qualities as economical, environmentally and socially beneficial for packaging. Despite its ability to be infinitely recycled, aluminum maintains its quality over time. Due to aluminum's non-reactive properties and aesthetic appeal, aluminum packaging provides optimal protection to packaged products as well as assisting in branding to its premium appeal, according to the report
Key Takeaways from the market study:
- Aluminum foil pouches to account for at least two out of five sales by product type through 2031
- By end user, cosmetics industry to remain primary utilizer, expected to surge at a CAGR of 5%
- Sales of aluminum foil packaging products in the U.S. to soar at a CAGR of 4% through 2031
- China to capture nearly 50% of the global market revenue for aluminum foil packaging products
- Europe to experience identical growth figure as the U.S. until 2031
- Germany to create an absolute opportunity worth $200 million until 2025, expanding twice until 2031
"The rising use of aluminum foil in bags and pouches in pharma is also showing rapid growth since the pandemic and has been widely accepted by medical sectors and consumers, showing a broader application scope," says the senior research analyst.
Strategic collaborations can increase the revenue and market share of aluminum foil packaging. New technologies and products allow manufacturers to expand into new markets.
- On October 02, 2020, Aluflexpack Group acquired the integration of Top-System. It was a great next step in Aluflexpack’s development, according to Fact.MR. A strategic location with modern production equipment at great value can be scaled up easily and will develop substantially fast.
- ANG Lifescience India purchased Mansa Print & Publishers. A corporate insolvency resolution plan allows this acquisition to be done at a very economical cost. The company sought to advance its backward integration strategy as it continues to expand rapidly in the pharma segment. Packaging costs in formulations represent almost 15% to 20% of product costs.
Visit https://www.factmr.com/report/518/aluminium-foil-packaging-market for more information.