Foodservice End-Use Segment to Record a Peak Growth Rate in the Aluminium Foil Containers Market
According to Future Market Insights’ latest market report titled “Aluminium Foil Containers Market: Global Industry Analysis 2013 - 2018 and Opportunity Assessment 2019 - 2027,” the growing demand for cost-effective, light-weight, and single-serve packaging solutions is likely to propel the growth of the aluminium foil containers market, during the forecast period. Globally, the revenue generated by the aluminium foil containers market has been estimated to be around US$3,092.0 Mn in 2019 and is expected to increase at a CAGR of 5.4% in terms of value throughout the forecast period.
Aluminium Foil Containers - Market Dynamics
There has been a dynamic shift in the consumer consumption pattern in the food and beverages sector. Consumer inclination for takeaway or ready-to-eat food is increasing, owing to changing lifestyles and growing disposable incomes, especially in emerging economies across the globe. Foodservice operators offer various services such as ‘takeaway’ and drive-through’ to cater to the growing number of on-the-go consumers.
With the growing working population and increasing urbanization, these food formats are expected to gain popularity among millennial consumers. Increasing usage of aluminium foil containers for packaging in the foodservice industry, in turn, is expected to drive the demand for the aluminium foil containers market during the forecast period.
Global demand for convenience and hygienic packaging solutions is increasing exponentially, especially in food packaging. Aluminium foil containers are gaining popularity in the foodservice industry due to their recyclable, light-weight, and cost-effective nature. Aluminium foil containers are also proven to reduce food contamination, making them a hygienic packaging solution.
Aluminium foil containers can withstand extreme temperature change, can be used in microwave ovens, and are very easy to clean. Such properties of aluminium foil containers make them preferable for food packaging solutions. Also, the rising acceptance of aluminium foil containers in food service and other end uses is due to its easy storage, grab-and-go feature, and lightweight nature. These factors are likely to push the global aluminium foil containers market growth during the forecast period.
One of the key factors that increase the preference for aluminium foil containers for packaging is the extended shelf-life of products. Aluminium foil containers score very high in barrier properties. A significant amount of food items are spoiled due to exposure to moisture and air, thereby increasing the need for packaging solutions that protect food items from these elements. This factor is expected to fuel the growth of the global aluminium foil containers market during the forecast period.
Aluminium Foil Containers Market – Competition Dashboard
Irrespective of the positive synopsis, the growing number of players in the aluminium foil containers manufacturing business and the volatility in raw material prices are likely to hamper the profit margins. Maintaining a long-term relationship with raw material suppliers, distributors, and retailers is essential in any business. Thus, manufacturers need to channelize their efforts towards it.
The increasing number of domestic players in the aluminium foil containers market and capacity expansion of existing players leads to a reduction in pricing, which ultimately shrinks the net profit of aluminium foil containers manufacturers. These factors are likely to hinder the growth of the global aluminium foil containers market during the forecast period.
However, customized and specialized aluminium foil containers are the current trend in the market as they fulfil all customer needs. Manufacturers of aluminium foil container also put an emphasis on product designing, enhancements through multifunctional properties, and cost-effectiveness.
Detailed profiles of manufacturers of aluminium foil containers are also included in the report to evaluate their strategies, financials, recent developments, and key product offerings.
The key players operating in the global aluminium foil containers 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., Laminazione Sottile S.p.A., Eramco, i2r Packaging Solutions Limited, Wyda Packaging (Pty) Ltd., Alufoil Products Pvt. Ltd , Durable Packaging International, Prestige Packing Industry, Shanghai Metal Corporation, and Manaksia Ltd. among others.
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Aluminium Foil Containers Market – Key Developments
Few of the key developments observed among the manufacturers of aluminium foil containers are:
- In 2019, Nicholl Food Packaging Ltd achieved an ISO 14001 registration. This standard ensures that the packaging meets environmental policies, standards, and guidelines set by the ISO 14001.
- In 2017, i2r Packaging Solutions Limited opened a new warehouse at its manufacturing facility in Telford, England.
- In 2017, i2r Packaging Solutions Limited acquired its former South Korean distributor in order to strengthen its distribution network in South Korea.
In the global aluminium foil containers market report, we have discussed individual strategies followed by company profiles of the manufacturers of aluminium foil containers. The ‘Competitive Landscape’ section is included in the aluminium foil containers market report to provide report audiences with a dashboard view and a company market share analysis of top manufacturers operating in the global aluminium foil containers market.
Key Segments Covered in the Global Aluminium Foil Containers Market
- Up to 50 ml
- 50 ml to 200 ml
- 200 ml to 400 ml
- 400 ml & Above
By Product Type
By Aluminium Foil Type
- Standard Duty Foil
- Heavy Duty Foil
By End Use
- Bakery & Confectionery
- Food Packers/Processors
- Retail and Supermarkets
- Others (Medical, Electronics, etc.)
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific Excluding Japan (APEJ)
- ASEAN Countries
- Australia & New Zealand
- Rest of APEJ
- Middle East and Africa (MEA)
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA