The global household aluminum foils market size is expected to register revenue of USD 1.6 Billion from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with 6.3% CAGR over the forecast period. This growth can be attributed to the increase in working population across developed and developing regions which are anticipated to boost the need for packed foods thereby, increasing the demand for aluminum foils.
Also, the demand for consumption of home-cooked food is increasing. These foils protect the food from bacteria and keep them warm or cold for longer duration, thus are gaining popularity among the working population. Also, as these foils are biodegradable, they are being used as a substitute for plastics for packaging of food products.
The unprinted aluminum foils product segment accounted for the largest market share of around 85% across the global market, in 2018 owing to features like low-cost prices and ease of availability and usage. The printed aluminum foils product segment is expected to register a CAGR of 7.1% during the forecasted years, 2019 to 2025 due to their availability in different sizes, variety, and shapes.
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The supermarkets & hypermarkets segment in the household aluminum foil market segmented by distribution channel held the largest share of around 50% across the global market. This can be attributed to the preference among the consumers to physically verify the products before making the purchase decision and promotional activities initiated by the key players to increase brand awareness among the consumers. The online distribution channel is expected to witness the highest CAGR of 7.3% in the upcoming years.
The Asia Pacific region accounted for the largest share of around 30% in the global market owing to the increasing working population and rising disposable income among consumers across developing countries like China, India, and Japan. The region of North America is anticipated to witness a 6.7% CAGR owing to rising awareness about food and health hygiene among the millennials.
The market includes key manufacturers like Alufoil Products Pvt. Ltd.; Aluflexpack group; Alcoa Corporation; Amcor Limited; Eurofoil; All Foils, Inc.; and Reynolds Group Holdings. They are constantly focusing on implementing marketing strategies, mergers and acquisitions to boost the sales of their products.
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Further key findings from the report suggest:
• The unprinted aluminum foils product segment accounted for the largest market share of around 85% in 2018.
• The printed aluminum foils segment is expected to register a CAGR of 7.1% during the forecasted years, 2019 to 2025.
• The supermarkets & hypermarkets segment of distribution channel accounted for the largest share of around 50% in the global market.
• Asia Pacific region accounted for the largest share of around 30% across the global market.
Million Insights has segmented the global household aluminum foil market on the basis of product, application and region:
Household Aluminum Foils Product Outlook (Revenue, USD Million, 2015 – 2025)
Household Aluminum Foils Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
Household Aluminum Foils Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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