The global aluminium foil packaging market size will reach $46.19bn by 2025, with a revenue-based compound annual growth rate (CAGR) of 4.0% over the forecast period, according to a report by Grand View Research. The report attributes the industry’s growth to the increasing demand for packaging in the food and beverage and pharmaceutical industries. Tobacco, cosmetic, and electronic industries are also set to create growth opportunities for the aluminium market.
Aluminium is a recyclable material that can be found in abundance, says the report, and aluminium foil is strong, lightweight, portable, flexible, and mouldable.
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Aluminium foil is used in the pharmaceutical industry to package various types of medicine because it offers protection from moisture and sunlight. The increased need for aluminium in the industry comes as a result of increased demand for drug delivery devices and blister packaging.
The report also attributes the demand for aluminium packaging to the rising demand for ready-to-eat food products in the food and beverage industry. It says: “Fast-paced lifestyle, ease of ordering through online platforms, and the ability to choose from diverse restaurants are the significant factors that have surged demand for online food delivery, which in turn, is expected to drive the market in near future.”
Aluminium is used in the food and beverages industry for packaging solutions which including foil wraps, pouches, blisters, and containers. Foil wraps, in particular, are used by households to wrap food products and have witnessed a surge in demand due to the growing food delivery services in growing economies such as India, China, and Brazil.
The report also notes that the market is expected to experience resistance in coming years due to the prevalence of alternative packaging materials such as plastic, glass, paperboard, pulp, and paper. Aluminium is also linked to destructive mining practices.
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By GlobalDataThe high cost of aluminium compared with plastic has restricted its use in the Asia-Pacific market, whereas the Middle East and Africa market is set to experience significant growth due to high disposable income, especially in Saudi Arabia and United Arab Emirates.
