Despite some markets face decline as the mainstream, the market of aluminium foil is still on the rise. Here, we analyze some important market tokens, such as market value and key consumers.
Global aluminum foil packaging market value
It is very interesting how small and insignificant a drop of water can be and how huge an ocean is. The same we can say about Aluminum Foil Packaging when we consider its single item and the global market.
For example, the average price of an Aluminium foil roll 50 sq ft is under $2. Not impressive at all, isn’t it? However, if we turn our heads to the global Aluminum Foil Packaging market, we will be highly impressed by its value.
To clarify, in 2020, according to Global Aluminum Foil Packaging Market Research Report 2020, the estimated market value is around 10680 million dollars. Convert it to the number of items and you get at least 5340 million alluminium rolls or more than 267 billion in terms of square footage.
Moreover, analysts believe the market will continue to grow at 5.6% per year at least in the next 5 -6 years.
Key aluminum foil consumers
Considering so huge market depth, let’s analyze aluminum foil consumers.
First of all, it worth to mention the industrial use of foil greatly prevails. According to the report, search studies, and other analytic means available to Al Farid Wood and Metal Trading Company, the industrial use here is estimated to be at least 85% of the total market. Here are the main industries regarded to be key consumers in terms of using packing foil:
• Pharmaceutical,
• Cigarette,
• Food.
The consumer breakdown for the market by regions is as follows:
• Asia Pacific (32%),
• Europe (25%)
• North America (19%),
• Latin America (12%)
• The Middle East and Africa (7%),
• Other regions (5%).
However, China shows steadily significant growth rates at around 13%. Hence, comparing these rates to the market CAGR of 5.6%, the country is going to increase its share in the global aluminium foil consumption.