Global Aluminum Foil Container Market - 2020-2027
The global aluminum foil container market size was worth USD XX billion in 2019 and is estimated to reach USD XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Aluminum packaging are easily adapted to manufacturing specifications and can be made to suit the specific needs of the user in terms of shape, shape, special coatings, decorative colors and designs, or multi-compartments. Cost-effective aluminum foil containers are available in one ounce to twenty-pound capacities and can be customized to fit almost any manufacturer’s dispensing machines. Aluminum foil containers provide an excellent hygienic barrier that prohibits bacterial growth along with designed to carry food products safely through all stages of manufacturing and distribution.
Moreover, the containers offer strong shelf appeal and striking package design, and the material is both bright and reflective with the option to be color-lacquered or printed. They are highly formable and can be “dead folded,” which is beneficial when drawing and shaping containers.
Also, aluminum is the leading recycled material in the world and thus pays for many recycling programs in the municipal. As per Aluminium Foil Containers Manufactures Association, recycled aluminum now represents 28% of the scrap value of all recycled materials. All of the nearly 7 billion aluminum foil containers produced annually are 100% recyclable. In fact, the amount of recycled aluminum has doubled in the last ten years.
Henceforth, the extensive application features and application of aluminum foil containers along with its recyclable properties is anticipated to increase its market over the forecast period of 2020-2027.
Growing environmental concern over the use of plastic is expected to drive the market of aluminum foil container
Every year, a massive amount of packaging wastes is generated that is mostly plastic packaging. As per Environmental Protection Agency, containers and packaging make up a significant portion of municipal solid waste (MSW), amounting to 82.2 million tons of generation in 2018.
In recent years, consumer backlash has emerged against disposable plastic products. The plastic waste that adversely impacts ecosystems has soured consumers and drawn activists and environmental organizations' attention worldwide. As per the Ocean Conservancy, plastic bottles are the third most common type of waste item found near the ocean – behind cigarette butts and food wrappers. Consequently, many are calling for increased government and industry intervention to address the growing problem.
On the other hand, aluminum foil containers are mostly recyclable and can be used again, reducing the amount of waste generated by packaging. As per Aluminum Foil Container Manufacture Association, all of the nearly 7 billion aluminum foil containers produced annually are 100% recyclable.
Henceforth, environmental regulations over the use of plastics and the recyclable nature of aluminum are expected to increase the foil containers market during the forecast period.
Covid-19 Impact Analysis
Every industry has been affected due to coronavirus pandemic in one and another way. However, this is not the case with the market of aluminum foil containers. During the complete lockdown, when everything was shut, the packaging industry was also not in use. But when everything started normalizing, packaging goods and food packers/processors are in use because of takeaway options in many restaurants and hotels, increasing the demand for packaged containers such as aluminum foil containers.
By foil type, the aluminum foil market is segmented into standard duty foil, heavy duty foil and light gauge foil. Based on product type, the market is categorized into compartmental and non-compartmental. By capacity, the market is segmented into segmented into up to 50 ml, 50 ml to 200 ml, 200 ml to 400 ml, 400 ml & above. By end-user, the aluminum foil market is segmented into food packers/processors, bakery and confectionery, retail and supermarkets, pharmaceuticals and personal care & cosmetics.
Food packers/processors is to dominate the end-user segment owing to huge demand
As per Statista, in 2019, the global market value of food packaging was estimated to be worth about 305 billion U.S. dollars.
Aluminum food containers protect food from deterioration. It is the lightest “complete barrier” available, impervious to light, gas, water vapor, oils, fats, oxygen and microorganisms. They keep foods fresh, safe and tasty, maintaining quality throughout a long shelf life.
Moreover, aluminum foil containers are not affected by temperature extremes. cooking, freezing, transporting, and serving food all can be done in a single convenient package. Aluminum’s conductivity accelerates both baking and freezing and contributes to faster and better product reconstitution than any other packaging material. Its tri-ovenability lets defrost or reheat in the microwave, heat or broil in the oven, and serve and refreeze leftovers.
Henceforth, aluminum foil containers have wide applications in food packers/processors segment because of containers’ extensive features over the forecast period.
The aluminum foil container market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
North America is anticipated to lead the aluminum foil container due to the increased demand for food packers/processors. Simultaneously, the aluminum container market in Latin America, and Middle East & Africa is expanding at a slow pace compared to that in developed economies. Besides, the population growth, urbanization, and rising disposable income US are expected to boost the market in the forecast period.
Besides North America, the Asia Pacific dominates the region's aluminum foil container due to the increase in demand of packaging, food packers and processors demand. As per Quartz, China could consume as much as 107 million tonnes of packaged food, compared to 102 million tonnes in the US. Hence, the developed countries like China, Australia, South Korea, and Japan are anticipated to be significant contributors to the regional order. Moreover, the packaging sector's development and innovation are expected to boost market over the forecast period. Besides, the food packaging industry is expanding rapidly in developing economies in this region.
The aluminum foil container market is fragmented with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Novelis Inc., Pactiv LLC, Trinidad Benham Corporation, Hulamin Containers Ltd., D & W Fine Pack, Penny Plate, LLC, Handi-foil of America, Inc., Revere Packaging, Inc., Nicholl Food Packaging Limited, Contital srL, Nagreeka Indcon Products Pvt. Ltd. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Aluminum Foil Container market globally.
Overview: Novelis Inc. is an American industrial aluminum company which is headquartered in Atlanta, Georgia, United States. The company operates an integrated network of technically advanced rolling and recycling facilities across North America, South America, Asia and Europe.
Product Portfolio: Novelis Inc. is a leading manufacturer of rolled aluminum and the global leader in beverage can recycling. The company serves customers in sectors including foil and packaging, beverage cans automotive, consumer electronics and construction.
Key Developments: Novelis Inc. signed a memorandum of understanding (MOU) on February 4th with the Zhenjiang Jingkou Industrial Zone in Zhenjiang City, Jiangsu Province, to invest around USD 300 million in expanding its automotive aluminum capabilities and recycling operations at its Zhenjiang plant.
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• Visualize the composition of the aluminum foil container market segmentation by foil type, product type, capacity, end-user and region highlighting the key commercial assets and players.
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The global aluminum foil container market report would provide an access to an approx. 61 market data table, 55 figures and 240 pages.
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