The global food aluminum foil market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the soaring need for environment friendly and sustainable packaging solutions. Factors such as growing concerns for product safekeeping and protection, and rising demand from the end-use production units including beverage industries, packaged food industry, and processed food manufactures are compelling the expansion of the food aluminum foil market over the forecast period.
Rapid industrialization in BRICS economies such as Brazil, Russia, India, China and South Africa is expected to stimulate market growth of food aluminum foil in the upcoming years. The recent technological advancement in the manufacturing sector coupled with development of advanced packaging solution are anticipated to boost market growth over the forecast period. Globally, food aluminum foil market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of aluminum foils.
In addition, increasing demand from South East Asian economies such as Singapore, South Korea, Taiwan and Malaysia is projected to escalate the growth of food aluminum foil market in the upcoming years. Aluminum foils are largely utilized in various manufacturing applications and food & beverages industry.
The use of the aluminum allows to achieve range of the refine and painted finishes which can be easily noticeable in regards to the traditional use of the materials for production of metal foils. Aluminum commonly used to safeguard cork lids in alcoholic beverages like that of champagne, wine, and pint beer. A wide range of painted finishes offers easy product differentiation alongside a high level of aesthetics.
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The food aluminum foil market is broadly categorized into two major segments based on the application type such as packaging applications and non-packaging applications. Packaging applications segment is growing rapidly in the market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in packaging sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising manufacturing activities, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the food aluminum foil market are Velcro Group Corp., Tetra Pak, Inc., Southern Aluminium Industry Co., Ltd., Rajasthan Foils Pvt., Ltd., Plus Pack Ltd., Hindalco Industries Ltd., Flexifoil Packaging Pvt., Ltd., Eurofoil Luxembourg S.A., Ekco Ltd., DeLaval Pvt., Ltd., Danpak International B.V., Dalia Packaging Co., Comital Group, Bachmann Aluminium GmbH, Ardagh Group Co., Amcor Ltd., Aditya Birla Group and ACM Carcano.
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