The global aluminum foil containers market is on a trajectory of significant growth, with a projected valuation of US$ 3.8 billion in 2023 and an impressive Compound Annual Growth Rate (CAGR) of 5.5%. Over the forecast period, this market is expected to reach a valuation of US$ 6.5 billion, fueled by several key drivers.
One of the primary drivers of this market’s growth is the increasing demand for cost-effective, lightweight, and single-serve packaging solutions. The versatility of aluminum foil containers makes them highly attractive to industries looking for efficient packaging solutions. They are not only lightweight and cost-effective but also provide durability and convenience, making them ideal for various applications.
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Despite the market’s promising outlook, there are challenges to be addressed, particularly in terms of recycling procedures. The lack of proper recycling processes for aluminum foil containers can hinder market growth. However, ongoing advancements and innovations, such as the development of disposable aluminum containers, demonstrate the industry’s commitment to sustainability and environmental responsibility.
The food and beverage industry plays a pivotal role in driving demand for aluminum foil containers. Their cost-effectiveness and popularity for their ease of use have made them a staple in supermarkets and households alike. With hygiene becoming a top priority, these containers have become indispensable in the foodservice sector.
Regionally, North America, led by the United States, holds a significant market share due to increased demand, especially in the post-COVID era, where hygiene concerns are paramount. The United States is expected to dominate the market, with a projected valuation of US$ 1.2 billion and a CAGR of 5.3% during the forecast period.
In Europe, government initiatives to promote food exports and decarbonization efforts are driving the demand for aluminum foil containers. This is fostering the growth of aluminum foil container vendors in the region, with a projected CAGR of 3.6% in the United States market during the forecast period. Overall, the global aluminum foil containers market is poised for substantial expansion, driven by its versatility and cost-effectiveness across various industries.
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.
COVID-19 Impact Analysis:
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 which 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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Market Segmentation:
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:
Foodservices
Bakery & Confectionery
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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Key Companies Profiled
- Novelis Inc.
- Pactiv LLC
- Trinidad Benham Corporation
- Hulamin Containers Ltd.
- D & W Fine Pack
- Penny Plate, LLC
- Handi-foil of America, Inc.
- Revere Packaging, Inc.
- Nicholl Food Packaging Limited
- Contital srL
- Nagreeka Indcon Products Pvt. Ltd.
- Laminazione Sottile S.p.A.
- Eramco
- i2r Packaging Solutions Limited
- Wyda Packaging (Pty) Ltd.
- Alufoil Products Pvt. Ltd
- Durable Packaging International
- Prestige Packing Industry
- Shanghai Metal Corporation
- Manaksia Ltd.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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