Household Aluminum foil market-Introduction:
The revenue from the packaging industry shows the rapid growth because of increase in expenditure power of the consumers and due to health awareness among the consumers. The household aluminum foil has significant properties like good thermal and electrical conductivity, good formability, non-absorptivity to water, grease, oil, and light, good adhesive capability to the variety of compounds and resistance to oxidation and chemical attacks. The household aluminum foils act as barriers to moisture, gases, odor, bacteria, and molds. It provides protection against the radiant heat.
Opacity is an important feature which helps in prevention of deterioration of large range of food and drink products which are affected by light. Owing to these properties, the household aluminum foil is preferred over other packaging material, as other flexible materials do not match the characteristics of aluminum foil. The household aluminum foil turns out to be one of the most used products of aluminum metal across the world due to its versatility, ease of use and better recyclability.
According to product complexity index (PCI), household aluminum foil is the 275th most traded product in the world. The various applications of household aluminum foil include food & beverage, confectionery, health care, personal care and other industrial uses.
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Household Aluminum foil market – Market Dynamics:
One of the significant factors contributing towards the growth of household aluminum foil market is expected to rise in developing market owing to economic growth and increase in middle class families with growing disposable income. The change in food habits with the busy life style act as a driver for the high demand of household aluminum foil packaging. Growing demand for ready to eat confectioneries and pharmaceutical products is the major driver for household aluminum foil industry. The increasing demand for packaged food is due to fast life style especially of the working couples, convenience, and health benefits. Another factor towards the growth of household aluminum foil is government regulations towards food safety and quality standards which influence the manufacturers for an effective packaging solution that prevent the food from being contaminated. Another factor fueling the growth of household aluminum foil market is increasing demand for food and beverages, pharmaceuticals and medicine market through e- commerce channel.
Household Aluminum foil market – Market Segmentation:
The household aluminum foil market can be segmented on the basis of material type, product, and end use type. On the basis of product segment, household aluminum foil can be segmented into backed aluminum foil, aluminum foil roll, and others. On the basis of material type, household aluminum foil can be segmented into aluminum alloy which contains between 92 and 99 percent aluminum, bauxite and alumina. On the basis of end use, household aluminum foil can be segmented into food, beverages and others. The food industry can be further sub segmented into confectionary which includes packaging of chocolates, candies, and biscuits and dairy products which includes oil and fat products, cottage cheese, and capping of dairy liquids.
Household Aluminum foil market – Regional Outlook:
The household aluminum foil market can be segmented into North America, Latin America, Europe, Middle East, Africa and Asia Pacific. The recent development in the global household aluminum foil market has shifted its production base to the east, especially in Asia. The emerging players from China, India and Middle East have started taking the market share of oldest foil manufacturers in the US. The household aluminum foil market is expected to witness tremendous growth in USA, Germany, Italy, Japan, China, Russia, Canada, and India.
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Household Aluminum foil market – Major Players:
Some of the key players operating in the global household aluminum foil market are Zhejiang Junma Aluminium Industry, Hindalco, Huawei Aluminium Co. Ltd, Eurofoil, Alufoil Products Pvt. Ltd., SR Foils and Tissue Limited, Simpac, Ningbo Times Aluminium Foil Technology Co. Ltd, Jiangyin Zhongcai Aluminum Co. Ltd, Qingdao Donghai Aluminium Co. Ltd, Zhangiagang Goldshine Aluminium Foil Co. Ltd., Indofoil Pvt. Ltd.
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