ALUMINIUM FOIL CONTAINERS Market Size, Share & Growth Report for 2027 Globally, the revenue generated by the aluminium foil containers market has been estimated to be around US$3,092.0 Mn in 2019 and is expected to increase at a CAGR of 5.4% in terms of value throughout the forecast period. Irrespective of the positive synopsis, the growing number of players in the aluminium foil containers manufacturing business and the volatility in raw material prices are likely to hamper the profit margins. Maintaining a long-term relationship with raw material suppliers, distributors, and retailers is essential in any business. Thus, manufacturers need to channelize their efforts towards it.
The increasing number of domestic players in the aluminium foil containers market and capacity expansion of existing players leads to a reduction in pricing, which ultimately shrinks the net profit of aluminium foil containers manufacturers. These factors are likely to hinder the growth of the global aluminium foil containers market during the forecast period.
COVID-19 Impact Analysis on Aluminium Foil Containers Market :
The recent outbreak of the 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.