Aluminum Foil Market Will Rise Due to Growing Commercial Foodservice Industry

Global Aluminum Foil Market is expected to witness substantial growth in the forecast period due to the increase in demand from food and beverages industry. Aluminum foil is the misnomer tin foil that is used for varied applications, such as food packaging, geochemical sampling, insulation, electronics, art and decoration, etc. Along with industrial applications, aluminum is user-friendly and recyclable. Aluminum foil is temperature resistant, offers high electrical conductivity, heat conductivity and reflectivity, durability and flexibility, easy lamination and coating.

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Aluminum foil market is driven by factors like growing commercial foodservice industry, changing eating habits of consumers, growth in working population that demands canned food products, high demand for snacks and chocolates, increase in disposable income of consumers, growing pharmaceutical industry, and growing demand for QSR (Quick Service Restaurants). However, easy availability of substitutes in cheaper rates is hindering the market.

Moreover, introduction of various recycling methods for aluminum foil packaging is trending in the market. Nevertheless, ongoing advances in quality of aluminum and its reliability, rise in mills productivity, growing emphasis for conservation of plants for reducing cost, and easy availability of foils in different forms for growing consumption is an opportunity for the market.

Aluminum foil market is categorized on the basis of product type, application, and geography. On the basis of product type, market is divided into laminated tubes, food wraps, pouches, lid and others. Food wraps segment is projected to contribute significantly to the market owing to high demand for packaged food due to hectic lifestyle.

In terms of application, aluminum foil market is divided into pharmaceutical, food & beverage, personal care, cosmetic, and others. Pharmaceutical segment is further classified into strip packing, cold form packing, and blister packing. Food and beverage segment is expected to lead the market owing to high demand for online food services, growing online food sector, and rise in disposable income of consumers. Additionally, pharmaceutical segment accounts for larger share of market due to increase in demand for drugs and medicines because of growing health issues.

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Geographically, aluminum foil market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to contribute significantly to the market owing to high consumption of consumer goods from personal care to canned and packaged food. Moreover, high demand for aluminum foil for packaging from medical sector of the region is contributing remarkable to the market. North America also accounts for prominent share of the market in the forecast period.

The top players in aluminum foil market can be listed as Aditya Birla Group, Alcoa, Hindalco Industries Limited, Aluflexpack, ACM Carcano, Alufoil Products Pvt. Ltd., Ardagh Group, Bachmann Aluminium GmbH, Southern Aluminium Industry Co. Alupac, Velcro Group, Amcor, Dalia Packaging, Danpak International B.V, DeLaval, Ekco, Eurofoil, Flexifoil Packaging, Comital Group, Plus Pack, Rajasthan Foils Pvt. Ltd, Ltd., and TetraPak.

Global Market for aluminum foil to 2023 offers detailed coverage of aluminum foil industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading aluminum foil producers to provide exhaustive coverage of the aluminum foil.

Report contents include - Analysis of the aluminum foil market including revenues, future growth, market outlook - Historical data and forecast - Regional analysis including growth estimates - Analyzes the end user markets including growth estimates. - Profiles on aluminum foil including products, sales/revenues, and market position - Market structure, market drivers and restraints.

Key regions - North America - Europe - Asia Pacific - Middle East and Africa - South America

Key Vendors - request free sample to get a complete list of companies