The global aluminum foil packaging market size is expected to grow by USD 2.64 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period.
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Technavio has announced its latest market research report titled Global Aluminum Foil Packaging Market 2020-2024 (Graphic: Business Wire)
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The increasing commercial foodservice market is one of the major factors propelling market growth. However, factors such as fluctuating prices of aluminum will hamper market growth.
The growing working population and the changing lifestyle of people have reduced the time for doing household work such as cooking. This has resulted in the growth of the global commercial foodservice market which includes ready-to-eat food, takeaway food, and food from Quick Service Restaurants (QSRs). The growing number of dual-income households and changing patterns of food consumption of consumers have made the QSR segment the largest shareholder of the commercial foodservice market. Most QSRs are expanding their businesses by operating on a franchise-based business model. Aluminum foil packaging can block moisture and bacteria and can withstand high temperatures. The rapid expansion of QSRs will drive the demand for aluminum foil packaging. Thus, the growing global commercial foodservice market will boost the aluminum foil packaging market growth during the forecast period.
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Global Aluminum Foil Packaging Market: End-user Landscape
The increase in sales of packaged foods and dairy products is the key driving factor, which is triggering the growth of aluminum foil packaging in the food and beverage sector. The growing popularity of online food delivery is also driving the market growth. Therefore, the aluminum foil packaging market share growth by the food and beverage segment is expected to be faster than the growth of the market by the other segments.
Global Aluminum Foil Packaging Market: Geographic Landscape
North America was the largest aluminum foil packaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the rising consumer demand for convenience in food ordering and the increasing number of partnerships between vendors and established restaurant chains in the US will significantly drive aluminum foil packaging market growth in this region over the forecast period. 32% of the market's growth will originate from North America during the forecast period. The US is a key market for aluminum foil packaging in North America. Market growth in this region will be slower than the growth of the market in APAC and MEA.
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Companies Covered
- ACG
- Aikou Packaging Co. Ltd.
- Alcoa Corp.
- Alibérico SLU
- Amcor Plc
- Hindalco Industries Ltd.
- Hulamin Ltd.
- Plus Pack AS
- Tekni-Plex Inc.
- United Company Rusal Plc
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Aluminum Foil Packaging Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in aluminum foil packaging market growth during the next five years
- Estimation of the aluminum foil packaging market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the aluminum foil packaging market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of aluminum foil packaging market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Food and beverage Market size and forecast 2019-2024
- Pharmaceutical Market size and forecast 2019-2024
- Others Market size and forecast 2019-2024
- Market opportunity by End user
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America Market size and forecast 2019-2024
- APAC Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ACG
- Aikou Packaging Co. Ltd.
- Alcoa Corp.
- Alibérico SLU
- Amcor Plc
- Hindalco Industries Ltd.
- Hulamin Ltd.
- Plus Pack AS
- Tekni-Plex Inc.
- United Company Rusal Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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