Aluminium foil market share to increase

Aluminium foil

The aluminium foil market share is expected to increase to 1711.22 thousand tons from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.15%, according to a new report by Technavio.

Analysts at Technavio have categorised the global aluminium foil market as a part of the global aluminium market. 

Their report provides extensive information on the value chain analysis for the aluminium foil market, which vendors can leverage to gain a competitive advantage during the forecast period. 

The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period. 

The increase in global consumption of processed and packaged food products is one of the key drivers fuelling the aluminium foil market growth. 

In addition, the rising popularity of lightweight packaging is one of the key aluminium foil market trends supporting market growth. However, fluctuations in aluminium prices are expected to impede the aluminium foil market growth.

Food And Beverage Packaging: The aluminium foil market share growth in the food and beverage packaging segment will be significant during the forecast period. 

Manufacturers are adopting aluminium foil as a packaging material in the food and beverage industry to increase the shelf life of their products, as aluminium does not chemically react with food and is resistant to oxygen and moisture, thereby avoiding exposure of products to the external environment. 

Some groceries are prone to get damaged from sunlight, leading to a change in their appearance and taste. 

However, aluminium foil protects them from sunlight, as foil does not melt, lose shape, or alter the chemical properties of the packed food. 

Thus, the rising consumption of aluminium foil in direct grilling and cooking applications is expected to drive the aluminium foil market growth during the forecast period. 

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