About Food Aluminum Foil
Food Aluminum foils offer many advantages to the packaging and food industries and the consumer including consumer friendliness & recyclability. Consumers can freeze or heat food products in the foil container directly. Other applications of aluminum include beverage, confectionary, personal care, health care and other industrial uses. The global aluminum foil packaging market is expected to show high growth over coming years. The major growth is expected in the developing markets owing to strong economic growth and increasing middle class with growing disposable income. The change in life style which includes changed food habits has led to increased demand for packaging.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.9% |
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the market were innovation, product development, acquisition, and expansion. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Food Aluminum Foil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China Hongqiao Group Limited (China), Alcoa (United States), Hydro (Norway), United Company RUSAL PLC (Russia), Ess Dee Aluminium Ltd (India), Alufoil Products Pvt. Ltd. (India), Nicholl Food Packaging Ltd (United Kingdom), Wyda Packaging (South Africa) and Penny Plate LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Alcoa Corporation (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Food Aluminum Foil market by Type (Heavy Gauge Foil, Medium Gauge Foil and Light Gauge Foil), Application (Meat Snacks, Dried Fruits, Biscuits, Drinks and Other) and Region.
On the basis of geography, the market of Food Aluminum Foil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline will boost the Food Aluminum Foil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Box will boost the Food Aluminum Foil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the availability of foils in various forms
Market Growth Drivers:
Increased demand in chocolates and snacks industry as well as pharmaceutical industry
Challenges:
Availability of substitute in the market
Restraints:
Concern regarding the material quality
Opportunities:
Deploying technological advancements to produce improvement in product quality
Market Leaders and their expansionary development strategies
In June 2023, ACG announced full shareholding ownership of Technical Aluminium Foil Company (TAFC). This strategic move further solidifies ACG's growth trajectory across the Middle Eastern and African markets.
In April 2023, LSKB Aluminium Foils introduced Clean Wrap, a first-of-its-kind 2-in-one foil. One side is paper and the other works as aluminium foil. It is up to the users to decide how to wrap their favourite foods from either side, depending on which one is comfortable according to them.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.