The latest market research report by Technavio on the global aluminum foil packaging market in the food and beverages industrypredicts a CAGR close to 6% during the period 2018-2022.
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Technavio has published a new market research report on the global aluminum foil packaging market in food and beverages industry from 2018-2022. (Graphic: Business Wire)
The report segments the global aluminum foil packaging market in the food and beverages industry by product type (foil rolls and containers) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global aluminum foil packaging market in the food and beverages industry, according to Technavio transportation and logistics researchers:
- Growing demand for cost-efficient packaging solutions: a major market driver
- Increase in adoption of pouch packaging: emerging market trend
- The Americas dominated the global aluminum foil packaging market in the food and beverages industry with 39% share in 2017
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Growing demand for cost-efficient packaging solutions: a major market driver
Consumers are adopting suitable packaging solutions that are flexible in nature and allow easy storage, handling, transportation, and use. Aluminum foil packaging products in the form of zipper pouches, microwavable pouches, and spout pouches are increasingly being adopted as they are easy to handle and are suitable for packaged products. An empty 200 ml. pouch weighs less than a sheet of copier paper, which means that a truckload of standard 200-ml. aluminum pouches for packaging beverage products will consume less space than that of a truckload of 200-ml. glass packages. Aluminum pouches also increase the cost efficiency in the food and beverage products supply chain.
The evolution of flexible packaging solutions in the food and beverages industry to ensure convenience will drive the growth of the aluminum foil packaging market in the food and beverages industry.
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Increase in adoption of pouch packaging: emerging market trend
There has been an increase in the demand for pouch packaging solutions due to the changing lifestyles and the shift in consumer preference for flexible packaging solutions that offer ease of storage, handling, and transportation. Advantages of pouch packaging solutions such as their lightweight, high printability, and ability to meet the need for single-serve uses has enabled them to become the fastest-growing trends in the packaging industry. Spout pouches packaging solutions can discharge up to 99.5% of the products stored in them, thus reducing food waste.
According to a senior analyst at Technavio for research on packaging, "The low cost of printing flexible pouch packaging solutions is also driving the demand for pouch packaging solutions from the food and beverages industry. The increasing demand for flexible pouch packaging solutions that are made up of polyethylene, aluminum foil, nylon, film foil, and laminated and metalized film is expected to fuel the growth of the aluminum foil packaging market in the food and beverages industry."
Global market opportunities
Regarding regional dominance, the Americas led the global aluminum foil packaging market in the food and beverages industry, followed by EMEA and APAC in 2017. The Americas is expected to gain market share of nearly 2% by 2022. The increasing demand for convenient and flexible packaging solutions is driving the market in the Americas. The high demand for recyclable and reusable packaging solutions is another factor that will strengthen the aluminum foil packaging market in the food and beverages industry in this region.
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