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The aluminum foil market share is expected to increase to 1711.22 thousand tons from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.15%.
This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (food and beverage packaging, consumer packaging, pharmaceutical packaging, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The aluminum foil market report also offers information on several market vendors, including Alupac, Ardagh Group SA, Carcano Antonio Spa, Constellium SE, Danpak International BV, Ess Dee Aluminium Ltd., Eurofoil, Hindalco Industries Ltd., Merck KGaA, Norsk Hydro ASA, Paramount Universal Pvt. Ltd., Reynolds Group Products Inc., The Tetra Laval Group, Thermo Fisher Scientific Inc., UACJ Corp., United Company RUSAL, Oceanic Foil Pack, Alufoil Products Pvt. Ltd., Aluflexpack AG, and All Foils Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increase in global consumption of processed and packaged food products is notably driving the market growth, although factors such as fluctuations in aluminum prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aluminum foil industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Aluminum Foil Market Driver
The increase in global consumption of processed and packaged food products is one of the key drivers fueling market growth. There is an increase in the number of working people around who prefer healthy food options that are available on the go in ready-to-eat packages. They opt for packaged and processed food to save time as they have limited time for cooking. Moreover, economic development and urbanization have also resulted in significant changes in the lifestyle and food habits of individuals. The modern lifestyle is characterized by the preference for convenience foods and time constraints. Thus, this is expected to drive the demand for packaged food products, which, in turn, will drive the growth of the global market during the forecast period.
Key Aluminum Foil Market Trend
The rising popularity of lightweight packaging is one of the key market trends supporting market growth. Vendors are now coming up with lightweight and high-performance aluminum foil grades to reduce costs, improve performance, and stay compliant with regulations. Nowadays, aluminum foil manufacturers are focusing on downgauging aluminum foil to decrease the overall weight of the aluminum foil per unit volume. This will also help in reducing the aluminum foil production cost of manufacturers. Also, lightweight packaging products reduce transportation costs, improve shipping efficiency, and increase company profitability targets. Lower material consumption during the manufacturing process also reduces the environmental impact during the entire process. Thus, such convenient features of lightweight packaging will propel the market growth during the forecast period.
Key Aluminum Foil Market Challenge
Fluctuations in aluminum prices is one of the factors impeding market growth. Aluminum is a commodity product and is predominantly used in numerous end-user industries such as building and construction and automotive and transportation. The consumption of aluminum is highly dependent on the demand from its end-user industries. In addition, the pricing structure of aluminum differs from one region to another based on import and export tariffs. The profitability of aluminum foil vendors depends on the ability to transmit the fluctuations in the prices of aluminum to customers. Therefore, fluctuations in the prices of aluminum will impede market growth in the coming years.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global aluminum foil market as a part of the global aluminum market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as price and quality to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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66% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for aluminium foil in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Rapid urbanization in India and China has led to an increase in the working population, leading to modernized food consumption patterns, which will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted the growth of the market in APAC. However, the initiation of vaccination drives has led to the lifting of lockdowns and the resumption of business activities, which has increased the demand for aluminum foil in the region. Thus, the regional market is expected to witness moderate growth during the forecast period.
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The aluminum foil market share growth by the food and beverage packaging segment will be significant during the forecast period. Manufacturers are adopting aluminum foil as a packaging material in the food and beverage industry to increase the shelf life of their products, as aluminum does not chemically react with food and is resistant to oxygen and moisture, thereby avoiding exposure of products to the external environment. Some groceries are prone to get damaged from sunlight, leading to a change in their appearance and taste. However, aluminum foil protects them from sunlight, as foil does not melt, lose shape, or alter the chemical properties of the packed food. Thus, the rising consumption of aluminum foil in direct grilling and cooking applications is expected to drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.
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Aluminum Foil Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.15% |
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Market growth 2022-2026 |
1711.22 th tons |
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Market structure |
Fragmented |
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YoY growth (%) |
4.34 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 66% |
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Key consumer countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alupac, Ardagh Group SA, Carcano Antonio Spa, Constellium SE, Danpak International BV, Ess Dee Aluminium Ltd., Eurofoil, Hindalco Industries Ltd., Merck KGaA, Norsk Hydro ASA, Paramount Universal Pvt. Ltd., Reynolds Group Products Inc., The Tetra Laval Group, Thermo Fisher Scientific Inc., UACJ Corp., United Company RUSAL, Oceanic Foil Pack, Alufoil Products Pvt. Ltd., Aluflexpack AG, and All Foils Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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