The Global Flexible Foil Packaging Market Continues To Grow Owing To the Increasing Growth of the Global Packaging Industry

SEATTLE, WA, US, January 6, 2022 /EINPresswire.com/ -- The Global Flexible Foil Packaging Market Continues To Grow Owing To the Increasing Growth of the Global Packaging Industry , Flexible foil packaging comes in a variety of materials, including aluminium, paper, and plastic, and provides a variety of barrier properties, including protection from moisture and gases like oxygen and carbon dioxide, as well as light and microorganism resistance.

Market Overview:

Aluminum foil is a versatile, durable, and attractive type of packaging. Its thin, lightweight, and heat-resistant properties make it perfect for wrapping and storing food. This packaging material is also resistant to UV rays and moisture. It is a popular choice for food products because it is easily portable and allows for quick and easy food preparation. Its popularity has increased significantly in recent years due to the growing number of consumer products that require aluminum foil.

Competitive Landscape:

Major players operating in the global flexible foil packaging market include Plus Pack SAS, Zenith Alluminio Srl, Constantia Flexibles, and Amcor Limited.

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Key Market Drivers:

Increasing growth in the global packaging industry is expected to drive the growth of the global flexible foil packaging market. For instance, according to the International Packaging Group, the global packaging industry is estimated to reach around US$ 1014 billion by the year 2023. The main advantages of using a flexible packaging solution are its flexibility, speed, low-maintenance, durable nature, environmental friendliness, and convenience. It can be used for almost every product. Flexible packaging is also preferred because it reduces the cost involved in distribution. It is also preferred because it provides superior protection against various forms of threats and in all conditions. Increasing growth in the food and beverages industry is estimated to augment the growth of the global flexible foil packaging market.

Covid-19 Impact Analysis:

The COVID-19 pandemic disrupted the demand in the global packaging industry, which acted as a main restraining factor to the growth of the global flexible foil packaging market. Moreover, lockdown measures in several nations, and transport restrictions, along with the absence of manual labor in production plants also affected the market growth.

Market Taxonomy:-

On the basis of material type, the global flexible foil packaging market is segmented into:

Aluminum
Paper
Plastic

On the basis of End-use Industry, the global flexible foil packaging market is segmented into:

Food and Beverages
Pharmaceutical
Personal Care & Cosmetics
Others

Market Trends:-

Increased demand for aluminium foil due to its barrier properties, as well as a ban on the use of plastic in the food and beverage industry, are expected to propel the flexible foil packaging market forward over the forecast period. According to the US International Trade Commission (ITC), aluminium foil consumption increased by 3.7 percent in the United States from 2014 to 2016.

Moreover, a number of manufacturers are working on new product launches in order to expand their global product portfolio. For example, Uflex, one of India's leading flexible packaging companies, launched pharmaceutical packaging products in December 2018, including child resistant and senior friendly foil, fast tear strip foil, and PET-based cold form blisters.

Key Takeaways:

North America is expected to hold a major share of the global flexible foil packaging market, wooing to the increasing growth of the packaging industry in the U.S. For instance, in 2019, the gross value of the United States packaging sector was assessed to be around US$ 180 billion.

The Asia Pacific is estimated to witness high growth in the global flexible foil packaging market, owing to the increasing usage of packaging materials in several end-use sectors, along with the prevalence of key market players in the region.

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