Top Emerging Trends Of Household Aluminum Foils Market Progress Forecast 2025 |Grand View Research, Inc.



The global household aluminum foils market size is expected to reach USD 1.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.3% over the forecast period. Rising demand for home cooked packed food at workplace among young working class population is expected to have a positive impact. Furthermore, rising awareness regarding the hazardous chemical effects associated with the plastic packaged product is expected to promote the use of aluminum foils as packaging alternatives. Consumer prefers to use non sticky foil for lining pans and freezer storage. It is also an ideal option for oven use due to its ability to preserve the flavor of foods as well as save the cleanup time.
The unprinted product segment was the largest category, generating a revenue of USD 938.7 million in 2018. The product is preferred over other packaging material due to its flexibility. Furthermore, increasing consumer awareness regarding plastic free products is driving the consumers to choose cost effective food packaging alternatives for daily use. The supermarkets and hypermarkets category emerged as the largest segment, accounting for over 50.0% share of the global revenue in 2018. The consumer prefers to purchase from supermarkets due to the availability of a wide range of products in the same selling window. It has been observed that majority of the consumers prefer this channel due to the availability of branded as well as local products.
Asia Pacific accounted for more than 30.0% share of the global revenue in 2018. Increasing consumer awareness regarding healthy home cooked food packaging in emerging economies including China and India is driving the demand of household aluminum foils. Furthermore, growing disposable income in emerging economies including China and India is driving the household aluminum foil market. China was the largest consumer in Asia Pacific, generating a revenue of USD 113.0 million in 2018.
Key industry participants include Alufoil Products Pvt. Ltd.; Carcano Antonio S.p.A.; Alcoa Corporation; Aluflexpack group; Cofresco S.r.l.; Flexifoil Packaging Pvt. Ltd.; Eurofoil; Amcor Limited; Reynolds Group Holdings; Aditya Birla Management Corporation Pvt. Ltd.; and All Foils, Inc. Companies are investing in new product development and on-brand promotional activities to increase their customer reach.
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https://www.grandviewresearch.com/industry-analysis/household-aluminum-foils-market/request/rs4
Further key findings from the report suggest:
·         By product, the printed segment is projected to ascend at a CAGR of 7.1% from 2019 to 2025
·         The online segment is anticipated to expand at the fastest CAGR of 7.3% in the forecast period
·         North America is anticipated to expand at a CAGR of 6.7% from 2019 to 2025.
Unprinted products accounted for the largest share of over 85.0% in 2018. Large number of working population prefer to use this product due to its economic cost and ease of use. Opacity is an important feature that helps to prevent the food products from deteriorating. Furthermore, the product works as a barrier to gases, moisture, bacteria, odor, and molds. It has the ability to protect against the radiant heat.
Printed products are estimated to expand at a CAGR 7.1% from 2019 to 2025. Companies are selling printed aluminum foils to households to promote their brands. It has been observed that the product is available in various sizes. Growing consumer preferences for innovative designs embedded in aluminum foils is expected to have a positive impact on the household aluminum foils market growth.
Supermarkets and hypermarkets accounted for a share of over 50.0% in 2018. Large number of consumers opt for supermarkets to purchase their products due to availability of a wide range of options, along with the choice to physically verify the products before any purchase. It has been observed that extensive promotional campaigns by leading brands can help to increase the sales of the product, which attracts manufacturers to utilize these channels. Furthermore, renovated structure of hypermarkets and developed organized retail sectors have been attracting the customers.
The online category is anticipated to expand at the fastest CAGR of 7.3% from 2019 to 2025. Consumers are more inclined towards purchasing their required items from online stores due to the doorstep delivery system. Some of the key online retailers are Walmart, Amazon, and Ali Express. Furthermore, ease of product comparison in limited time span is a key driving factor. Online channels provide access to consumers so that they can compare different brands and understand the product benefits. Growing smartphone usage in developing countries including China, India, Brazil, and Mexico will create significant demand for the product over the forecast period.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-household-aluminum-foil-market
Grand View Research has segmented the global household aluminum foil market on the basis of product, distribution channel:
Household Aluminum Foils Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Printed
·         Unprinted
Household Aluminum Foils Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Supermarkets & Hypermarkets
·         Convenience Stores
·         Online
Key manufacturers include Alufoil Products Pvt. Ltd.; Carcano Antonio S.p.A.; Alcoa Corporation; Aluflexpack group; Cofresco S.r.l.; Flexifoil Packaging Pvt. Ltd.; Eurofoil; Amcor Limited; Reynolds Group Holdings; Aditya Birla Management Corporation Pvt. Ltd.; and All Foils, Inc.
The companies are focusing on strategies such as mergers and acquisitions to increase their market reach. For instance, in July 2018, TOYO ALUMINIUM K.K. completed an acquisition of 33.4% share in the packaging firm namely SVAM Packaging Industries Pvt. Ltd.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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