|05-29-2018 03:04 PM CET - Business, Economy, Finances, Banking & Insurance||
Aluminium Foil Packaging Market Overview with Size, Share, Growth, Industry Demand, Forecast and Application Analysis To 2026
Press release from: Fact.MR
Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of aluminium foil packaging market. The study is titled as “Aluminium Foil Packaging Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global aluminium foil packaging market.
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According to latest report on the global market for aluminium foil packaging by Fact.MR, the market is expected to see steady growth in terms of value, registering a CAGR of 5.1% between 2017 and 2026. More than 10 million tons of aluminium foil packages are expected to be sold by the end of the forecast period. Aluminium foil is also considered as a key material for packaging food products. Hence, manufacturers are working on developing innovative aluminium foil packaging technology. Aluminium foil containers are also being used to keep wine and fruit juices for a long period of time at room temperature.
Rigid Non-Compartmental Trays to Emerge as the Highly-Preferred Product
Compared to various types of aluminium foil container products, rigid non-compartmental trays are likely to be a highly preferred product in the global aluminium foil containers market. Aluminium is an excellent conductor of heat, hence, aluminium foil trays are being used to reheat the food in the microwave.
Rigid non-compartmental trays are also finding large application in food catering, bakery industry as a direct baking tray. These rigid non-compartmental trays are also witnessing increasing demand from food outlets to be used as take-away containers. Manufacturers are also producing non-compartmental aluminium foil trays in various shapes and sizes as per the requirement. This helps in eliminating wastage and limited use of raw material, thereby saving the cost.
Aluminium Foil Packaging to be used widely in Food Service Packaging
Based on the product type, rigid non-compartmental trays are expected to witness the highest growth. The rigid non-compartmental trays are estimated to bring in more than US$ 7,200 million revenues by 2026 end.
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Based on the end use, aluminium foil packaging are likely to be used on a large scale for food service packaging. Towards the end of 2026, food service packaging is projected to reach close to US$ 7,600 million revenue. Aluminium foil helps in keeping the food fresh and hot for a long time.
Food Service Packaging to use Aluminium Foil Packaging on a Large Scale
Aluminium foil packages are being used in frozen food packaging, pharmaceutical packaging, bakery product packaging, household product packaging, etc. However, these containers are being used on a large scale in food service packaging. Offering unique packaging style and a wide variety of sizes, aluminium foil containers are able to hold any type of food. Hence, are being used in food service business. Manufacturers of aluminium foil packaging are offering foil cups, foil plates, foil bowls, and microwave safe containers made of aluminium foil for the food service industry. Also, with the growing trend of on-the-go food, the demand for lightweight and easy to carry food packaging is also rising, thereby driving the demand for aluminium foil packaging.
Geographically, Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global aluminium foil packaging market. By 2026 end, APEJ is estimated to surpass US$ 7,800 million revenue. While Europe is also likely to witness impressive growth throughout the forecast period.
Prominent players in the global market for aluminium foil packaging include Nagreeka Indcon Products Pvt. Ltd, Nicholl Food Packaging Limited, Revere Packaging Llc, Reynolds Food Packaging Llc, Contital srL, Penny Plate, LLC, Handi-Foil Corp., Hulamin Ltd, Aleris Corporation, and Pactiv LLC.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Industrial Goods market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
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This release was published on openPR.
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