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Aluminium Foil Packaging Market: Food Service Packaging to use Aluminium Foil Packaging on a Large Scale ||Penny Plate, LLC, Handi-Foil Corp., Hulamin Ltd, Aleris Corporation, and Pactiv LLC
As per the latest report by Fact.MR, the aluminium foil packaging market is 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.
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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.
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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