Research Nester published a report titled “Aluminum Foil Packaging Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global aluminum foil packaging market in terms of market segmentation by product, packaging type, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
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The global aluminum foil packaging market is projected to grow at a CAGR of ~5% by attaining revenue of ~USD 50 billion during the forecast period, i.e., 2023 – 2033. Higher consumption and production of tobacco product are anticipated to propel the growth of the market during the forecast period. As of 2020, approximately USD 55 billion of sales were generated by the sales of tobacco products. Additionally, growing inclination towards the ready-to-drink beverages is further estimated to propel the market growth over the forecast period. For instance, about 750 million nine-liter cases of ready-to-drink were sold out globally in 2021.
Additionally, by end-user industry, the global aluminum foil packaging market is segmented into cosmetics, food & beverage, pharmaceutical, and others. Out of these sub-segments, the food & beverage segment is estimated to obtain largest share in the market during the forecast period. The growth of the segment can be accounted to higher sales of packaged food worldwide. It was observed that the food and drink segment hit around 0.75 billion in 2022.
Furthermore, the global aluminum foil packaging market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of significant increment in the middle-class population and developing food and beverage industry. For instance, the middle-class population of Asia Pacific is projected to reach about 1.50 billion by the year 2030.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Increasing Consumption of Tea and Coffee to Foster the Growth of the Market
It is observed that in 2020-21, around 160 million bags of coffee were consumed globally.
Tea and coffee had been a significant part of human lives since for a long time and prevalence of consumption is still higher on account of their beneficial health properties. Aluminum foil is used to pack coffee and tea to preserve the healthy compound, freshness, and taste. Additionally, in many countries, tea and coffee aren’t produced so they import them from other nations. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, requirement for higher initial investment is expected to operate as a key restraint to the growth of the global aluminum foil packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global aluminum foil packaging market which includes company profiling of All Foils, Inc., Handi-foil Corporation, Novelis Deutschland GmbH, Aleris International, Inc., Flexifoil Packaging Pvt. Ltd., Reynold India Private Limited, Amcor Limited, Ardagh Group S.A., Tetra Laval Group, and Revere Packaging, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global aluminum foil packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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