The aluminum foil containers market is expected to reach a valuation of US$ 3.8 billion in 2023 and record a CAGR of 5.5%. By 2033, the valuation is projected to reach US$ 6.5 billion over the forecast period.
The aluminum foil containers market is assisting the food and beverage industry by providing packaging solutions that are useful for the storage of perishable foodstuff without the need for refrigeration for a long time. The temperature-sensitive food items like herbs, vegetables, and fruits can be easily and safely stored in aluminum foil containers. This quality is a driving factor for the market.
Aluminum foil containers also ensure that the food is safe from dirt, moisture, and dust. This ensures the safe storage of leftovers and preservatives too. These containers are also used for storing fish, meat, and other such perishable items without affecting their quality and taste. Besides that, these containers prevent bacteria from getting inside the food.
The market’s substantial share is held by North America, closely followed by Europe. A sizeable portion of the market is also in Asia Pacific. The rising demand for secure packaging solutions from the Food & Beverage industry is pushing the requirement for aluminum foil takeaway containers. Further, the delivery is expected to be slippage free, which is increasing the demand for aluminum foil food containers with lids. The containers with a lid ensure that the food is not affected by dust, and thus hygiene is maintained, which is most sought after by consumers.
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Key Takeaways
- The market is expected to register a CAGR of 5.5% during the forecast period.
- The United States market is anticipated to dominate the regional segment and is expected to reach a valuation of 1.2 billion over the forecast period.
- The market in Germany is expected to record a CAGR of 4.6 % over the forecast period.
- Foodservices is expected to be the dominant segment for the market during the forecast period.
- The market in India is expected to register a CAGR of 7.5% and reach a valuation of US$ 679.8 million over the forecast period.
Key Developments
- In 2019, Nicholl Food Packaging Ltd. received the ISO 14001 certification. This standard certification now ensures that the packaging solutions provided by the company meet all the environmental standards and set guidelines for the packaging sector.
- In 2017, a new warehouse was opened by i2r Packaging Solutions Ltd. for manufacturing processes in England.
- In order to expand its network throughout South Korea, i2r Packaging Solutions Ltd. acquired its former distributor from South Korea in 2017.
Competitive Landscape
The competition in the market is vast due to increasing consumer demand for safe packaging solutions. Key players are hence, investing huge amounts in innovating and manufacturing enhanced packaging solutions.
Some of the key players in the market include Amcor Plc., UACJ Foil Corporation, Hindalco Industries Ltd., Eramco, i2r Packaging Solutions Ltd., Nicholl Food Packaging Ltd., and others.
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COVID-19 Impact Analysis on Aluminium Foil Containers Market :
The recent outbreak of COVID-19 has adversely affected various markets in the packaging industry, and the Aluminium Foil Containers market is no exception. Products that are deemed ‘essential’ continue to experience significant sales, while non-essential items faced a sharp decline in demand.
Following government’s measures, particularly social distancing norms and stay-at-home orders, companies operating in the Aluminium Foil Containers market have put their production on a halt. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace. Several market players are further planning to relocate their supply chain from China – the first epicenter of the COVID-19.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Aluminium Foil Containers market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Aluminum Foil Containers Market: Segmentation
Valuable information covered in FMI’s Aluminium Foil Containers market report has been segregated into key segments and sub-segments.
Key Segments Covered in the Global Aluminium Foil Containers Market-
By Capacity:
Up to 50 ml
50 ml to 200 ml
200 ml to 400 ml
By Product Type:
Compartmental
Non-compartmental
By Aluminium Foil Type:
Standard Duty Foil
Heavy Duty Foil
By End Use:
Foodservice
Bakery & Confectionery
Aluminum Foil Containers Market: Competition Analysis-
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Aluminium Foil Containers market. Competitive information detailed in the Aluminium Foil Containers market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Aluminium Foil Containers market report.
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Important Questions Answered in the Aluminium Foil Containers Market Report:
Which end-user remains the top revenue contributor in different regional markets?
At what rate has the global Aluminium Foil Containers market been expanding during the forecast period?
How will the global Aluminium Foil Containers market look like by the end of the forecast period?
What innovative strategies are adopted by Aluminium Foil Containers market players to stay ahead of the pack?
What are the restraints affecting the growth of the global Aluminium Foil Containers market?
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