Aluminium Foil Market to Upsurge Owing to High Demand From Food & Beverages Sector and Growing Commercial Foodservice Industry

Radiant Insights, Inc.

SAN FRANCISCO, Feb. 11, 2019 /PRNewswire/ --

Global Aluminium Foil Market is expected to witness substantial growth in the forecast period due to the increase in demand from food and beverages industry. Aluminium foil is the misnomer tin foil that is used for varied applications, such as food packaging, geochemical sampling, insulation, electronics, art and decoration, etc. Along with industrial applications, aluminium is user-friendly and recyclable. Aluminium foil is temperature resistant, offers high electrical conductivity, heat conductivity and reflectivity, durability and flexibility, easy lamination and coating. Aluminium foil market is driven by factors like growing commercial foodservice industry, changing eating habits of consumers, growth in working population that demands canned food products, high demand for snacks and chocolates, increase in disposable income of consumers, growing pharmaceutical industry, and growing demand for QSR (Quick Service Restaurants). However, easy availability of substitutes in cheaper rates is hindering the market.

Moreover, introduction of various recycling methods for aluminium foil packaging is trending in the market. Nevertheless, ongoing advances in quality of aluminium and its reliability, rise in mills productivity, growing emphasis for conservation of plants for reducing cost, and easy availability of foils in different forms for growing consumption is an opportunity for the market. Aluminium foil market is categorized on the basis of product type, application, and geography. On the basis of product type, market is divided into laminated tubes, food wraps, pouches, lid and others. Food wraps segment is projected to contribute significantly to the market owing to high demand for packaged food due to hectic lifestyle. In terms of application, aluminium foil market is divided into pharmaceutical, food & beverage, personal care, cosmetic, and others. Pharmaceutical segment is further classified into strip packing, cold form packing, and blister packing. Food and beverage segment is expected to lead the market owing to high demand for online food services, growing online food sector, and rise in disposable income of consumers. Additionally, pharmaceutical segment accounts for larger share of market due to increase in demand for drugs and medicines because of growing health issues.