Aluminum Foil Packaging Market Would Register a Healthy Growth Rate During the Forecast 2016-2022
Aluminum foil provides various benefits to the food and packaging industries. The consumers can heat or freeze food items in the foil container directly.
New York, NY -- (SBWire) -- 11/01/2016 --Aluminum foil provides various benefits to the food and packaging industries. The consumers can heat or freeze food items in the foil container directly. Aluminum foil packaging material is a part of the flexible packaging material and is generally formed using aluminum sheets. Aluminum foil can be utilized to wrap around any product for packaging functions. It is produced through the regular casting and cold calling. Aluminum foil packaging is a sort of packaging, which arranges a resistant barrier to safeguard food, beverage, cosmetics and pharmaceuticals and helps in waste reduction. Aluminum packaging is extremely corrosion-resistant and chemically neutral. Moreover, it is hygienic and non-toxic in nature. The raw materials for aluminum foil packaging is produced utilizing aluminum sheets and it is a part of stretchable packaging material. The major users of aluminum foil packaging include pharmaceuticals, food and beverage industries. Aluminum foil wrap is produced through regular casting and cold rolling and thus it is favorable to be utilized to enclose around any product for packaging functions. The aluminum foil packaging market has showcased an upliftment in its revenue over the past few years and is likely to grow at a higher pace over the next few years till 2022.
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Robust economic growth along with rising middle population with inclining personal disposable income is anticipated to intensify the growth of global aluminum foil packaging market during the forecast period. The change in life style which includes changed food habits has led to inclining demand for packaging. Besides this, robust demand for aluminum foil packaging in snacks and chocolate industry are also strengthening the growth of aluminum foil packaging market all across the globe. Some of the major opportunities in global aluminum foil packaging market includes technological development to enhance the product quality, reduction in plants lossess, inclination in the obtainability of foils in different forms for crucial mass consumption usages and progress in the exportability of aluminum foils. The global aluminum foil packaging market is foreseen to observe a robust CAGR during the projected period.
The Geographically, the global aluminum foil packaging industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. American region captured the highest share in revenue terms in 2014. Followed by it, Europe and Asia-Pacific region grabbed the market. The North American aluminum foil packaging market is likely to be dominant during the forecast period. This is majorly due to change in technology in order to enhance the product quality by the manufacturers in the region. Apart from this, inclining demand for packaged food in Asian region is anticipated to incline the growth of Aluminum foil packaging market in Asia by 2022.
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Some of the key vendors identified across the value chain of aluminum foil packaging includes Ardagh Group, ACM Carcano, Tetra Pack, Zenith, Jasch Foils, Assan Aluminyum, Flexifoil, Amcor, and others. The aluminum foil packaging manufacturers are focusing on development of varieties of packaging in order to gain the competitive advantage in the global aluminum foil packaging market.
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