Aluminium foil packaging market forecast

Aluminium Foil Packaging Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030 The global aluminium foil packaging market is poised to reach US$ 40 Bn by 2030, with a steady growth rate of 6% over the forecast period. The high demand for aluminium foil packaging is backed by its high recyclability, strength, lightweight, moldability and flexibility. However, the COVID-19 pandemic is impacting demand for the global aluminum foil packaging market as a result of nationwide lockdowns and disrupted supply chains.

Focus on provision of essential services and goods during this period has decreased demand for aluminum foil packaging products. The imposition of lockdowns has also resulted in stockpiling and increased need for medical supplies. These factors cumulatively are heightening demand for flexible aluminium packaging foil. Low purity aluminium foil packaging accounted for a significant chunk of the market share in 2020 and will continue to capture a sizeable chunk of market share through 2030.

Aluminium Foil Packaging Market Trends Aluminium foils find high utilization in the pharmaceutical industry for packaging numerous medicines to protect them from sunlight and moisture. The utilization of aluminum foils in medicine has led to increasing demand for blister packed drugs. Furthermore, rising demand for ready-to-eat food and wafers has ramped up demand for aluminium foil packaging. The proliferation of ecommerce platforms and ability to order from diverse restaurants is seen as an emerging trend which is augmenting the demand for online food delivery. This will drive consumption of aluminium foil packaging with respect to food and beverages.

Aluminium Foil Packaging Market Share Analysis by Product Aluminium containers are used as cooking and serving trays in the HoReCa sector and account for the largest chunk of the market share. Aluminium containers with lids are finding rampant adoption in the food and beverage industry. Furthermore, aluminum containers remain the best choice for ready-to-eat food due to its light weight, flexibility and low manufacturing cost.

Advancements in the chemical and pharmaceutical industry has also created numerous opportunities for blister-aluminium foil packaging. On the other hand, foil-wraps are anticipated to grow impressively, backed by their ability to provide better water-resistance and cost benefits over other alternatives such as plastic.