Aluminum Foil Container Market Foreseen to Grow Exponentially Over 2027
In 2018, over 1 million tons of aluminum foil containers were sold globally; sales are likely to proliferate at a moderate y-o-y of over 4% in 2019, as per FMI’s latest research. Shifting consumer patterns toward effective and sustainable formats has been identified as a key sales influencer of aluminum foil containers. As per FMI’s analysis, demand for aluminum foil containers is poised to be complemented by unwavering demand from multiple sectors, including foodservice, retail & supermarket, and others.
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Aluminum foil containers continue to gain immense favor, owing to their superior barrier properties. Foodservice providers seeking economic packaging formats with capabilities in terms of food quality retention, which in turn pushes the adoption of aluminum foil containers as an ideal fit. According to FMI’s analysis, weight of aluminum is another key aspect enhancing the viability of aluminium foil containers across diverse end-use applications. Moreover, aluminum foil containers are scalable and foldable with immense scope for accommodating brand logos and other marketing-oriented prints, which makes it a worthy investment across multiple end-use landscapes.
“Alongside increasing proclivity for recycling, end-user industries are gearing up to turn this trend into a competitive advantage. Consumer demand for environmentally-responsible products has become highly evident than ever, which is being considered by end-users to enhance their bottom lines via appropriate offerings. Aluminum foil containers, being 100% recyclable, are gaining momentum in various shapes and sizes as per specific end-user requirements”, says the FMI report.
The current adoption rate of aluminum foil containers in the foodservice space can be anticipated to proliferate, driven by increasing consumer reliance on food ordering and on-the-go consumption. With global sales set to grow at a y-o-y of over 4% in 2019, future adoption of aluminum foil containers will remain significant as they offer tremendous compatibility in processing as well as storage conditions.
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End-Users Continue to Favor Non-Compartmental Aluminum Foil Containers over Compartmental
As per the report, end-users continue to prefer non-compartmental aluminum foil containers over compartmental ones, with global sales estimated in excess of 1 million tons in 2019. Well-established usage coupled with reasonable price points makes non-compartmental aluminum foil containers outsell their compartmental variants.
According to FMI, food packers/processors are registering high demand for aluminum foil containers, creating sustained opportunities for manufacturers. Food packers/processors vying to offer fresh food products with optimal packaging by making use of aluminum foil containers. Moreover, aluminum foil containers are gaining notable advantages in the retail and supermarkets space, owing to their superlative barrier properties combined with ‘cook-in-the-container’ features.
Sensing the end-user shift toward a combination of speed and performance, manufacturers are offering aluminum foil containers that facilitate rapid heating. Moreover, manufacturers are also obtaining quality certifications, both national and international, regarding processing techniques and product characteristics. Efforts as such play a significant role in boosting consumer confidence and fuelling repeat sales.
As per FMI’s analysis, aluminum foil container manufacturers are making headway with extensive focus on the three pillars of long-term market sustenance- consumer convenience, marketing and design, and product innovation. For improving consumer convenience, the manufacturers are developing hygienic and easy-to-handle products at competitive costs. In terms of marketing and design, the market players continue to emphasize on enhancement of appeal and branding possibilities across popular social media channels. Manufacturers emphasize on offering distinguishable and efficient products, which correlates to substantial revenue benefits and end-user retention.
The FMI report offers insights into latent opportunities in the aluminum foil containers market for the forecast period of 2019 to 2027. According to the FMI study, the aluminum foil containers market is likely to proliferate at a volume CAGR of over 4% through 2027.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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