Aluminum Foil Packaging Market size is poised to reach USD 50 Billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of aluminum foil packaging was USD 35 Billion.The growth of market can be attributed to the higher demand for aluminum foil in food packaging. For instance, the revenue generated by the ready-to-eat meals generated around USD 45 billion 2022.
Global aluminum foil packaging market trends such as, escalating demand for packaged food across the globe on the back of changing lifestyle is projected to influence the growth of the market positively over the forecast period. The total sales volume of packaged food was estimated to be about 35 thousand metric tons in 2021 while in 2022 the revenue generated by the ready-to-eat meals was projected to hit approximately USD 0.50 trillion. Additionally, growing sales of tobacco products and significand growth in the disposable income of the global population is further anticipated to drive the growth of the market over the forecast period. For instance, the sales of tobacco product were anticipated to reach around USD 55 billion in 2020. Hence, all these factors are anticipated to hike market growth during the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
5% |
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Base Year Market Size (2022) |
USD 35 Billion |
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Forecast Year Market Size (2033) |
USD 50 Billion |
End-user (Cosmetics, Food & Beverage, Pharmaceutical)
The global aluminum foil packaging market is segmented and analyzed for demand and supply by end-user industry into cosmetics, food & beverage, pharmaceutical, and others, out of which, the food & beverage segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the growing sales of packaged food across the globe. As of 2022, the food and drink segment was anticipated to reach approximately USD 0.75 billion.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Packaging Type |
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By End-User Industry |
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Regionally, the global aluminum foil packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be accounted to the rising number of middle class population. It is estimated that the middle-class population of Asia Pacific can dropped to approximately 1.50 billion by the year 2030. Moreover, the increasing disposable income and rising demand for aluminum foil packaging in food and drink industry of the region is further estimated to propel the growth of the market over the forecast period.
Amcor Limited unveils the DairySeal, a more supportable packaging line for ready-to-drink dairy products featuring ClearCor which is advanced polyethylene terephthalate (PET). The technology used to develop this packaging solution can maintain freshness and taste.
Ardagh Group S.A. to receive World Beverage Innovation Award along with Ardagh Packaging. The Award has been given at drintec exhibition for Best Metal Design, H!GHEND which is a technology to offer high-quality decoration on shell surface.
Author Credits: Sadaf Naaz, Mohd Shadab
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