Aluminium Foil Packaging Market With Strong Application and Scope by 2017-2022
Aluminum foil is gaining popularity as the flexible packaging option. Moreover, four-sided, fin-sealed pouches are becoming popular for medical, retail food applications, and institutional food service packs. Aluminium-based containers that can be used in the microwave are also being developed on a large scale. Special cooking aluminum foil for barbecuing have been developed in recent years.
Recycling of aluminum foil including cans and foils are also gaining traction. Processes used during manufacturing of aluminum foil are being improved to reduce hazardous waste and pollution. Laminated aluminium foil with paper stuck inside is largely being used in the food industry for packaging sweets and tea as the paper absorbs moisture while the foil protects the contents.
As per the latest report by Fact.MR, the global aluminium foil packaging marketis likely to witness moderate growth. The market is also projected to register 4.5% CAGR in terms of volume during 2017-2026. The global market for aluminium foil packaging is also estimated to reach US$ 21,821.2 million revenue by the end of 2026.
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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.
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.
Asia Pacific Excluding Japan (APEJ) to Lead the Global Market for Aluminium Foil Packaging
APEJ is likely to emerge as the leading region in the global aluminium foil packaging market during the forecast period 2017-2026. Increasing preference for convenient packaging and changing lifestyle in the region is driving the demand for aluminium foil packaging in the food industry. Restaurants and food chains are also using aluminium foil packaging to pack the food for delivery. Also, aluminium foil packages are easy to recycle, hence, countries such as India and China are also moving towards improving recycling rate by adopting more eco-friendly packaging options. Increasing demand for processed food and beverages in APEJ is also driving the growth of the aluminium foil packaging.
Key Players in the Global Aluminium Foil Packaging Market
Pactiv LLC, Aleris Corporation, Hulamin Ltd, Handi-Foil Corp., Penny Plate, LLC, Contital srL, Reynolds Food Packaging Llc, Revere Packaging Llc, Nicholl Food Packaging Limited, and Nagreeka Indcon Products Pvt. Ltd are some of the key companies in the global aluminium foil packaging market
Report Analysis at https://www.factmr.com/report/518/aluminium-foil-packaging-market
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