According to the report, the global aluminum foil packaging market will exhibit a 4.8% CAGR from 2017 to 2025, rising from a valuation of US$20.8 bn in 2016 to a revenue opportunity of US$31.5 bn by 2025.
Asia Pacific Market to Flourish as Packaged Foods Gain Increased Uptake
Based on thickness, the segment of 0.09 mm to 0.2 mm serves the dominant share of demand and is likely to expand at the most prominent CAGR over the forecast period as well. In terms of type, the segment of unprinted foil serves a notably larger share of demand as compared to the segment of printed foils. Geographically, the market in Asia Pacific is presently the most lucrative regional market and is likely to remain so over the forecast period as well. The key factors driving the Asia Pacific aluminum foil packaging market include the high population, a thriving food and beverages industry, and increased uptake of packaged foods and beverages across emerging economies.
Increased Demand for Packaged Foods to Drive Market
The increased demand for convenience packaging and the steadily rising demand for packaging products capable of extending the shelf life of packaged foods globally are some of the most crucial factors driving the global aluminum foil packaging market. The high use of aluminum foils in flexible packaging solutions is also a key factor driving its demand.
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Moreover, high barrier properties, light weight, and recyclable nature also increase improve the suitability of aluminum foil, making it application for a vast set of application areas. Over the next few years, the market is likely to gain notable traction owing to rising demand from the sectors of processed foods and ready-to-eat meals.