On the other hand, the lack of proper recycling processes in a number of countries and competition from alternatives are a few obstructions faced by the global aluminum foil packaging market. Nevertheless, growing emphasis on ecofriendly packaging and foray by the key companies in the emerging economies is expected to open new opportunities in the aluminum foil packaging market.
Based on thickness, the segment of 0.09 mm to 0.2 mm serves the dominant share of demand and is likely to expand at the most prominent CAGR over the forecast period as well. In terms of type, the segment of unprinted foil serves a notably larger share of demand as compared to the segment of printed foils. Geographically, the market in Asia Pacific is presently the most lucrative regional market and is likely to remain so over the forecast period as well. The key factors driving the Asia Pacific aluminum foil packaging market include the high population, a thriving food and beverages industry, and increased uptake of packaged foods and beverages across emerging economies.
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8011 Heat Seal Lacquered Aluminum Foil
The increased demand for convenience packaging and the steadily rising demand for packaging products capable of extending the shelf life of packaged foods globally are some of the most crucial factors driving the global aluminum foil packaging market. The high use of aluminum foils in flexible packaging solutions is also a key factor driving its demand. Moreover, high barrier properties, light weight, and recyclable nature also increase improve the suitability of aluminum foil, making it application for a vast set of application areas. Over the next few years, the market is likely to gain notable traction owing to rising demand from the sectors of processed foods and ready-to-eat meals.
While the increased emphasis on the adoption of eco-friendly packaging has proved to be a major driver for the aluminum foil packaging market, the large volumes of aluminum foil packaging products that are not recycled and are left unaccounted for in landfills has started become a huge ecological challenge. This factor could hamper the growth of the market to a certain extent, especially in regions where waste management practices are not well-established and improper disposal of recyclable packaging products is not penalized.
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