The new report by Expert Market Research titled, ‘Global Aluminium Foil Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global aluminium foil market, assessing the market based on its segments like applications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.3%
The rising application of aluminium foil in various end use industries including food and beverage, cosmetics, and pharmaceuticals, among others is driving the market growth. The thriving food storage industry owing to the rising demand for clean-labelled food products, rapid expansion of supermarkets and hypermarkets, rising disposable incomes, and increasing awareness about food hygiene is likely to propel the demand for the product in the forecast period. Additionally, aluminium foil exhibits great dimensional stability, which makes it ideal for the packaging of medicines and drugs. Hence, the flourishing pharmaceutical industry is likely to aid the market. Moreover, the growing demand for dairy, bakery, confectionery, and premium food products is anticipated to provide impetus to the market growth in the forecast period. Geographically, the Asia Pacific accounts for a significant share in the market owing to the expansion of the major end use industries of the product in countries like India, China, and others.
Industry Definition and Major Segments
Aluminium foil is defined as an aluminium-based thin metal layer which is used to cover or wrap foods such as meat, vegetable, pickle, fruit, salad, and dishes, among others, in order to increase its shelf life. The thickness of the product is less than 0.2 mm and can easily protect the food item from getting degraded. Aluminium foil is extensively used in the food storage and packaging industry.
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By application, the market can be segmented into:
• Wrapper Foils
• Container Foils
• Foil Lids
• Pouches
• Blister Packs
• Collapsible Tubes
• Others
The significant end-uses of the product include:
• Packaging
• Industrial
Among these, the packaging segment can be further divided based on type into food and beverage, tobacco, pharmaceutical, and cosmetics.
The regional markets for aluminium foil include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The emerging e-commerce industry is propelling the sales of various end products that utilise aluminium foil such as premium food products, nutritional supplements, medicines, and tobacco-based products. This is likely to be a major trend supporting the growth of the market. Meanwhile, the increasing inclination of the population towards storing food in wrapper foils, container foils pouches, and collapsible tubes is anticipated to be another major trend contributing towards the market growth. This is being supported by the growing awareness among the masses regarding food safety and hygiene and the easy availability of aluminium foils through different channels.
Key Market Players
The major players in the market are Hindalco Industries Ltd, Amcor plcA, Henan Huawei Aluminium Co, Ltd., Eurofoil, and Zhejiang Junma Aluminium Industry Co. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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