The aluminium foil containers market is anticipated to reach US$ 3.8 billion in 2023 and post a CAGR of 5.5%. Over the forecast period, the valuation is expected to reach US$ 6.5 billion.
Driven by the increasing demand for convenient and sustainable packaging solutions. In the USA and Canada, the market is being propelled by the rising popularity of ready-to-eat meals and takeout services, which require durable and heat-resistant packaging.
The foodservice industry’s expansion, coupled with the growing trend of home delivery services, is significantly boosting the demand for aluminum foil containers. Moreover, the recyclability of aluminum makes it an attractive choice for environmentally conscious consumers and businesses aiming to reduce their carbon footprint. Advances in manufacturing technologies have also improved the design and functionality of aluminum foil containers, further enhancing their appeal across various sectors.
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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.
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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.
Key Segments Covered in Aluminum Foil Containers Industry Research
By Capacity:
- Up to 50 ml
- 50 ml to 200 ml
- 200 ml to 400 ml
- 400 ml & Above
By Product Type:
- Compartmental
- Non-compartmental
By Aluminum Foil Type:
- Standard Duty Foil
- Heavy Duty Foil
By End Use:
- Foodservices
- Bakery & Confectionery
- Food Packers/Processors
- Retail and Supermarkets
- Others (Medical, Electronics, etc.)
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