Aluminum Foil Packaging Market Size, Share, and COVID-19 Impact Analysis By Packaging Type (Foil Wraps, Pouches, Blisters, Containers, and Others), By End-use Industry (Food & Beverage, Tobacco, Pharmaceutical, Cosmetic, and Others), and by Regional Forecast, 2024-2032

Aluminum foil is utilized in various applications across the world. The rising demand for food and beverages will fuel the growth of the aluminum foil packaging market as it provides a barrier to light and oxygen, keeping the food safe and away from external moisture. Aluminum foil is the best substitute for the paper to pack food products as aluminum foil prevents the food from leakage and is not harmful to the human body compared to paper. This will fuel the growth of the aluminum foil packaging market. The growing urban population and the shifting trends of consuming packed food, coupled with the increasing number of online food outlets, will propel the growth of this market. Due to its flexibility, the wide usage of aluminum foil in skin care products and the pharmaceutical industry will help grow this market.

• In November 2019, Hindalco partnered with Jute Corporation of India to launch aluminum foil laminated jute bags. It would be an ideal substitute for plastic bags and maintain the product's freshness and aroma.

The non-corrosive properties of aluminum have raised its use in sealing the mouth of jars, tubes, and creams, making it more suitable for skincare and cosmetics products, fueling the growth of the aluminum foil packaging market. Changing lifestyles and the increasing demand for ready-to-eat food will also thrive the demand for packed food, and expected to accelerate the growth of the aluminum foil packaging market. Aluminum is impenetrable to oxygen and moisture, which helps to keep the medicines untouched by microorganisms and the external environment. This increases the demand for aluminum foil packaging in the pharmaceutical industry.

When acidic and liquid food solutions are packed in aluminum foil, aluminum is likely to leach, which can have dangerous effects over a long period and will hamper the growth of the aluminum foil packaging market. The easy availability of less expensive substitutes like steel and the high cost of recycling aluminum will hamper the growth of this market.

IMPACT OF COVID-19 ON THE ALUMINUM FOIL PACKAGING MARKET

COVID-19 has impacted all industries, and consumer preferences have changed significantly during that phase. The aluminum foil packaging market has grown after the relaxation in lockdown as people shifted more toward readymade food, which thrived the growth of this market. The easy availability of foil and its increasing use in households accelerated the growth aluminum foil packaging market.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in the Aluminum Foil Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Aluminum Foil Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY PACKAGING TYPE

Based on the packaging type, the market is segmented into wraps, pouches, blisters, and containers. The wrap segment holds the largest market share in the aluminum foil packaging market. The extensive use of foil wraps in the food & beverage industry and pharmaceuticals will boost the growth of this segment.

ANALYSIS BY END-USE INDUSTRY

Based on the end-use industry, the market is segmented into food & beverage, tobacco, pharmaceutical, cosmetic, and others. The food & beverage industry dominates the aluminum foil packaging market. Aluminum is thermal resistant, which helps keep food's heat and aroma. This helps the online food industries to deliver hot food without any change in its texture and smell, hence bolstering the growth of this segment.

REGIONAL ANALYSIS

The aluminum foil packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is likely the leading region for this market. The presence of significant market players and increasing demand for FMCG products is anticipated to fuel the demand for aluminum foil packaging. North America is the fastest-growing region of the aluminum foil packaging market due to the pharmaceutical industry's dominance. The European market is experiencing rapid growth because of consumer awareness regarding sustainable packaging, and this has raised the demand for aluminum foil packaging as it is eco-friendly. Latin America is forecasted to grow at a moderate rate. The increasing sale of retail-packed food products will propel the growth of this region as aluminum helps increase the shelf life of products. The shift in food preferences and the rising number of food outlets will help the Middle East African region to grow steadily.

KEY PLAYERS COVERED

The report will include profiles of key players such as Novelis, Carcano Antonio S.p.A., Aleris, Flexifoil Packaging, Eurofoil Luxembourg S.A., Pactiv Evergreen Inc., Clifton Packaging Group Limited, Revere Packaging, LLC, Tetra Pak, Handi-Foil, among others.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• July 2022: Novelis, a company that provides sustainable aluminum solutions, declared that it would increase its portfolio in the Cosmetics packaging market.


• November 2021: ProAmpac acquired Irish Flexible Packaging and Fispak from its parent company, IFP Investments Limited. These Ireland-based companies manufactured flexible meat, fish, and dairy packaging.


• August 2021: ProAmpac launched the H.C. – Series of healthcare products, having HC-600 films designed to hold the products like alcohols, fragrances, and others.


• July 2019: SIG partnered with B-Better, a start-up brand, and launched aseptic cartons with ASI-certified aluminum foil. Aluminum foil is used as an ultra-thin layer in the aseptic cartons.