Increasing prevalence of using aluminum foil for packaging, food sector, pharmaceuticals, cosmetics, and industrial applications is a significant factor
— Emergen Research
VANCOUVER, BC, CANADA, August 2, 2022 /EINPresswire.com/ — The global aluminum foil market size was USD 25.34 billion in 2021 and is expected to register a CAGR revenue of 5.5% during the forecast period, according to the latest analysis by Emergen Research. Market revenue growth is driven by factors such as availability, durability, environmental sustainability, adaptability, high degree of barrier protection, and lightweight aluminum finding greater application in foil and packaging industries, during the forecast period.
The market research report on the Global Aluminum Foil Market Analysis has been meticulously crafted after carefully developing and studying various factors that affect the aforementioned market, such as the political, social, technological, and environmental conditions of the aforementioned regions. The revenue, production, and manufacturer statistics are thoroughly examined to provide a full picture of the global situation in the Aluminum Foil market. The information will also assist the major market participants and fresh entrants in comprehending the possibilities for investments in the global Aluminum Foil market size.
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Some Key Highlights
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The pouches segment is expected to register the fastest revenue CAGR during the forecast period. Revenue growth is expected to be driven owing to the most adaptable and flexible packaging options available in the market, as they are strong and provide better protection against moisture, chemicals, dust, and other elements, that might degrade quality of stored goods. Aluminum foil pouches are very portable and useful owing to their lightweight. Furthermore, as aluminum can be recycled, producers have countless options for producing pouches with lower manufacturing costs and greater profitability than plastic, which results in a less carbon impact.
The packaging segment accounted for largest revenue share in 2021. This is due to rising demand for packaged, ready-to-eat food, which has contributed to a considerable increase in aluminum foil packaging revenue growth. For instance, in the US food industry accounts for approximately 5% of the GDP as well as there is a rise in demand for protein-based packaged dairy products. Hence, to meet such demands aluminum foil packaging segment is expected to surge and drive revenue growth. Also, recent economic progress and rise in per capita income of the middle class are also driving revenue growth of this segment.
The pharmaceutical segment is expected to register the fastest revenue CAGR during the forecast period. Use of aluminum foil in the pharmaceutical industry is limited to blister packaging and lamination-based pouches and bags. These types of packaging are extensively used in packaging tablets, capsules, and candies. Aluminum foil is preferred over any other packaging as the foil protects and prevents drugs from being contaminated by external agents. Furthermore, the packaging cost through aluminum foil is quite cheap and prevents drugs from reacting chemically even during storage and transportation. All these factors are driving revenue growth of this segment during the forecast period.
The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Major Players/Manufacturers profiled in the report are:
Amcor Plc, Novelis – Hindalco Industries Limited, Zhejiang Junma Aluminum Industry Co., Ltd., Alu Flex Pack AG, Danpak, Stamperia Carcano Giuseppe Spa, Comital SpA, Henan Huawei Aluminum Co., Ltd, Bachmann GmbH, Alufoil Products Pvt. Ltd., and Eurofoil.
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Emergen Research has segmented the global aluminum foil market based on product type, thickness, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Thickness Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Food & Beverages
A closer look at the aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report. In addition, in-depth analysis of critical factors such as spending capability, gross margin, business environment and profit for the forecast period 2022 – 2030 holds critical information and is based on curated facts and logical arguments.
Major Regions Covered in the Aluminum Foil Market Report:
Middle East & Africa
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report covers thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Reasons to Buy This Report:
The report presents a thorough examination of the Aluminum Foil market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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The global aluminum foil market size was USD 25.34 billion in 2021