Aluminum Foil Packaging Estimated to Reach $55 Billion by 2031
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.