Northbrook, IL 60062 -- (SBWIRE) -- 07/19/2023 -- The report "Aluminum Foil Packaging Market by Product Type (Bags & Pouches, Wraps & Rolls, Blisters, Containers), Application (Food, Beverages, Pharmaceutical, Personal Care & Cosmetics), Type (Rolled Foil, Backed Foil), Packaging Type & Region - Global Forecast 2028", The global aluminum foil packaging market size is estimated to be USD 21.7 billion in 2023 and is projected to reach USD 27.9 billion by 2028, at a CAGR of 4.3% between 2023 and 2028. India and China, as emerging economies, will witness substantial demand for aluminum foil packaging due to the expanding packaging, food & beverage, and pharmaceutical & healthcare industries.

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Market growth is further supported by rapid economic development and government initiatives promoting sustainable packaging solutions, such as Japan's Plastic Smart campaign and Singapore's Zero Waste Masterplan. These initiatives drive the demand for eco-friendly materials like aluminum foil packaging. Aluminum foil is highly recyclable, contributing to a sustainable approach to packaging. The Asia Pacific region is expected to have the highest compound annual growth rate (CAGR) of 4.9% in the aluminum foil packaging market, fueled by factors like industrialization, rising middle-class population, increased disposable income, changing lifestyles, and growing awareness about eco-friendly packaging.

Europe to be the second largest market during the forecast period.
In 2022, Europe held a 19.12% share in the global aluminum foil packaging market. Key European countries like the UK, Germany, Italy, France, and Spain were studied, while the Rest of Europe includes countries like the Netherlands, Belgium, Poland, and Switzerland. The European market offers moderate growth opportunities, driven by stringent environmental regulations that encourage innovation and sustainable packaging solutions. Organizations like EUROPEN and INCPEN promote best practices using recyclable and reusable materials for sustainable packaging. Factors such as the improving global economy, rising domestic and export demand for food products, and focus on reducing packaging waste support the growth of aluminum foil packaging. The well-developed European pharmaceutical market coupled with increasing research, production, and distribution of pharmaceuticals creates opportunities for aluminum foil packaging manufacturers. The region's emphasis on environmentally friendly packaging contributes to the demand for sustainable solutions, particularly in countries like Germany, France, and the UK.

The leading players in the Aluminum Foil Packaging Market are RUSAL (Russia), Hindalco Industries Ltd. (India), China Hongqiao Group Limited (China), AMCOR Ltd. (Switzerland), GARMCO (Bahrain), Pactiv Evergreen Inc. (US), Hulamin (South Africa), Constantia Flexibles Group GmbH (Austria), Aluflexpack ag (Switzerland), Penny Plate LLC. (US).

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RUSAL (Russia) is a prominent Russian company that specializes in the production and sale of aluminum, alloys, and value-added products, with a primary focus on aluminum production. The company operates through four main segments: Aluminum, Alumina, Energy, and Mining & Metals. The Aluminum segment is responsible for the production and sale of primary aluminum and its related products. This includes a diverse range of aluminum products, such as rolled products like sheets, plates, and foils. RUSAL is globally recognized as a leading producer of high-quality aluminum foil, which finds applications in various industries including food and beverage packaging, pharmaceuticals, and household items. RUSAL's aluminum foil products are known for their exceptional strength, flexibility, and resistance to corrosion. They are available in different thicknesses and sizes to cater to a wide range of industrial and consumer needs. The Alumina segment focuses on mining and refining bauxite into alumina, which is then sold to customers. Alumina serves as a crucial intermediate product in the aluminum production process. The Energy segment comprises the group companies and projects involved in coal mining and sales, as well as the generation and transmission of electricity derived from diverse sources. The Mining & Metals segment represents RUSAL's equity investment in Norilsk Nickel, a major mining and metallurgical company. This investment allows RUSAL to participate in the production and sale of nickel, palladium, platinum, copper, and other metals.

Hindalco Industries Ltd (India), a subsidiary of Aditya Birla Management Corp Pvt Ltd, is a prominent player in the aluminum and copper industry. The company operates across four main segments: Aluminum, Copper, Novelis, and All Other. In the Aluminum segment, Hindalco produces and markets a range of aluminum products, including hydrates, alumina, and aluminum foils. These products are utilized in various industries for applications such as packaging, construction, automotive, and more. The Copper segment of Hindalco is involved in the manufacturing and sale of copper cathode, continuous-cast copper rods, sulphuric acid, and other metal products. This segment caters to industries requiring copper and its by-products. Hindalco's Novelis segment specializes in the production and sale of aluminum sheet and light gauge products. These products find applications in diverse sectors such as packaging, automotive, construction, and more. Additionally, Hindalco operates in an "All Other" segment, which encompasses its other business activities and operations that may not fall specifically under the Aluminum, Copper, or Novelis segments. Overall, Hindalco Industries Ltd has established itself as a significant player in the aluminum and copper industry, with a diversified product portfolio serving various sectors globally. The company's operations cover the production, marketing, and sale of aluminum and copper products, catering to the needs of different industries and applications.

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