A
recent study by Transparency Market Research has detected that the
global aluminum foil packaging market is extremely fragmented in
nature, with the top 12 companies accounting for merely 10.1% of the
overall shares in 2017. The key companies identified by the report
who attain respectable positions in the global aluminum foil
packaging market are: China Hongqiao Group Limited, Amcor Limited,
United Company RUSAL Plc. Eurofoil, Pactic LLC, Hindalco Indistries
Ltd, Hulamin Ltd, Ess Dee Aluminium Ltd, Alcoa Corporation, Novelis
Inc., Penny Plate, LLC, Alufoil Products Pvt. Ltd, Wyda Packaging
(Pty) Ltd., and Nicholl Food Packaging. Among these, China Hongqiao
Group Limited held 3.7% of the global shares in 2017.
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As
per the estimations of the TMR report, the demand in the global
aluminum foil packaging market will augment at a CAGR of 4.8% during
the forecast period of 2017 to 2025. The report projects the global
valuation of the aluminum packaging market to reach US$31.5 bn by the
end of 2025, considerably up from its evaluated worth of US$20.8 bn
in 2016. As far as strategic moves of the key companies is concerned,
China Hongqiao Group Limited is focused on increasing its production
capacity via acquisitions and depends on its sales agents to maintain
consistent demand. The company, based out of Zouping in China,
targets household foil and heat sealing foil. United Company RUSAL
Plc. too is aiming to invest in small but strategic acquisitions,
catering for food and beverages packaging, consumer products, and
tobacco packaging.
Based
on thickness, the global market for aluminum foil packaging serves
maximum demand for 0.09 mn to 0.2 mn segment, and is projected for
the most prominent growth rate, whereas unprinted foil category
serves significantly more demand than printed foil. Food packaging is
the most profitable application segment, accounting for more than a
third of the total demand, while wraps and rolls is most valuable
end-use. Geographically, vastly populated Asia Pacific is expected to
remain the most lucrative region throughout the forecast period.
Growing
Popularity of Packaged Food Driving Demand for Aluminum Foil
Packaging
High
preference for convenience packaging and growing demand for extended
shelf-life of packaged food are two most important factors driving
the global
aluminum foil packaging market. Aluminum foil is a high
preferred flexible packaging solution, which can be attributed to its
convenience. Aluminum foil packaging scores very high in barrier
properties, and retailers and vendors prefer packaging solutions that
promise extended shelf-life. For instance, thin foil can protect the
food from oxygen, light, air, and moisture. Growth of ready-to-eat
meals and processed food is another key factor aiding to the
prosperity of the global aluminum foil packaging market. According to
the European Aluminum Foil Association (EAFA), almost three-fourth of
the foil produced in Europe goes for packaging, i.e. flexible
packaging and household.
In
the near future, growing use in pharmaceutical products and
confectionary and frequent acquisitions are also expected to reflect
positively on the global aluminum foil packaging market. Growing
emphasis on consumer convenience and eco-friendly packaging and
market expansion in emerging economies are other factors opening new
opportunities in the aluminum foil packaging market.
Unaccounted
Sheets of Landfills Pose Threat to the Environment thus may Restrict
Market
On
the other hand, impact on environment, health issues associated with
aluminum foil packaging, and competition from alternatives are some
of the challenges faced by the global aluminum foil packaging market.
The report observes that despite being fully recyclable, most of the
aluminum foil that are recycled, is from beverage cans, leaving
thousands of tons of foil sheets unaccounted for. Moreover, the use
of aluminum foil is considered unsafe as it can react with food in
contact with the foil, by leaching out.
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