SAN FRANCISCO, Jan. 15, 2020 /PRNewswire/ -- The global aluminum foil packaging market size is estimated to reach USD 46.19 billion by 2025, exhibiting a revenue-based CAGR of 4.0% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing demand for packaged food coupled with rapid rise of the pharmaceutical packaging industry is anticipated to drive the growth. Aluminum is infinitely recyclable and contributes to sustainable packaging solutions, which is expected to further drive the market.
Key suggestions from the report:
- In terms of revenue, the foil wraps product segment is estimated to reach USD 13.67 billion by 2025, mainly driven by the increasing application scope in the tobacco and food and beverages industries
- In terms of revenue, the food and beverages end use segment is expected to experience the highest growth rate over the forecast period, owing to rising demand for ready to eat food products
- The pouches product segment is anticipated to exceed USD 2.2 billion by 2025, owing to versatile applications of the product in numerous industries including food and beverage, pharmaceutical, cosmetic, and tobacco
- The aluminum foil packaging market is highly fragmented in nature, with several small and medium enterprises present in regional market spaces. Product innovation, R&D, geographic expansion, and acquisitions are among the major strategic initiatives adopted by the key market players to reinforce their strong competitive positions in the global market
- Amcor Plc, Constantia Flexibles, Novelis Aluminum, Coppice Alupack Ltd., Reynolds Group Holdings Limited, Aliberico S.L.U., Carcano Antonio S.p.A., and Aleris Corporation are some of the key players operating in the market
Read 85 page research report with ToC on "Aluminum Foil Packaging Market Size, Share & Trends Analysis Report By Product (Foil Wraps, Pouches, Blisters, Containers), By End Use (Food & Beverage, Pharmaceutical), By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/aluminum-foil-packaging-market
Aluminum foil is highly used for packaging numerous products including foods, beverages, medicines, cosmetics, and electronic items. Aluminum is highly useful in packaging industry owing to its properties such as corrosion resistance, ductility, malleability, reflectiveness, and light weight. It also offers impermeable barrier to air and light which increases the product shelf life.
Aluminum foils are used for making numerous packaging products including foil wraps, pouches, blisters, and containers. Aluminum foil containers are majorly used in the food service industry to food packaging. Pouches are chiefly used for packing numerous beverages including juices, energy drinks, and ketchups. Blisters are mainly used for packaging pharmaceutical products.
The aluminum foil packaging market is dominated by Asia Pacific owing to high production of aluminum in China. The Asia Pacific market is expected witness significant growth over the forecast period, owing to high consumer base and rapidly growing food industry. Rapid growth of food delivery services from 2014 to 2018 has further boosted the market growth in the past five years.
Grand View Research has segmented the global aluminum foil packaging market based on product, end use, and region:
- Aluminum Foil Packaging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Aluminum Foil Packaging End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Aluminum Foil Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Industrial Bulk Packaging Market – The global industrial bulk packaging market size was estimated at USD 21.8 billion in 2018, escalating at a CAGR of 3.8% over the forecast period.
- Fresh Meat Packaging Market – The global fresh meat packaging market size was valued at USD 2.06 billion in 2018 and is anticipated to expand at a CAGR of 2.7% over the forecast period.
- Hot Drinks Packaging Market – The global hot drinks packaging market size was valued at USD 10.3 billion in 2018. Growing consumption of coffee and tea as a staple drink in day to day life is expected to remain a favorable factor for the market growth.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.