|Global Aluminum Foil Packaging Market|
# 16.08.2022 - 04:33:26
The global aluminum foil packaging market (hereinafter referred to as the "research market") is valued at USD 23.47 million in 2020 and is expected to register a CAGR of approximately 4.81% during the period 2021-2026. Growing demand for ready-to-eat confectionery and pharmaceuticals is a key driver for the household aluminum foil market.
One factor driving the growth of the household aluminum foil industry is government regulation of food safety and quality standards, which has influenced manufacturers to develop effective packaging solutions to prevent food contamination.
Growing demand for fast moving consumer goods coupled with growing economy is expected to lead to high growth of the APAC market.
Tropical Blister Foils is increasingly being combined with flexible films to create lightweight packaging. Packaging for pet food, tuna, coffee and soup alone generates 13 billion packages worldwide, making it a viable alternative to traditional plastic packaging.
The sustainability of aluminum creates a competitive business advantage while providing product development advantages. According to the Aluminum Association, nearly 75 percent of the aluminum that has been produced is still in use. In addition, aluminum waste does not add any toxic pollutants to the water or land when disposed of; in addition, these can be recycled economically and more sustainably.