As per a revides report published by Fact.MR, the aluminium bags and pouches market is anticipated to surpass US$ 5.5 Bn valuation in 2031, and expand at a CAGR of more than 6% over the next ten years.
With rise in urbanization, the health and wellness sector has skyrocketed in recent years. Pharmaceutical manufacturing has swelled at an enormous rate, creating significant demand for related packaging.
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Asia Pacific excluding Japan currently accounts for a majority of the consumption aluminium bags and pouches for packaging purposes, followed by Europe and North America. This is owing to the fact that the number of aluminium ore companies as well as aluminium bag and pouch producers are high in these regions, thus narrowing the gap between demand and supply.
Aluminium bags and pouches are widely used at snacks counters and restaurants for packaging products, which remains the main driver for the market.
Key Takeaways from Market Study
- The aluminium bags and pouches packaging market is anticipated to add 1.7X value by 2031.
- 0.09-0.2 mm thickness aluminium bags and pouches capture a more than 45% share of the global market, and are set to create an absolute $ opportunity of between US$ 2 to 3 Bn over 2021-2031.
- Among the applications, the pharmaceuticals sector has been the fastest-growing segment.
- APEJ is set to dominate market revenue in 2021, and is expected to gain nearly 120 basis points by 2031.
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- The market in China and the U.S. is expected to rise at close to 7% CAGR through 2031.
- Due to the COVID-19 crisis, demand for aluminium bags and pouches was hit in 2020, which saw a net decline of around 1.6% over the 2nd and 3rd quarters.
Key Segments Covered of Aluminium Foil Packaging Market
- 0.007 – 0.09 Aluminium Bags and Pouches
- 0.09 – 0.2 Aluminium Bags and Pouches
- 0.2 – 0.4 Aluminium Bags and Pouches
- Printed Aluminium Bags and Pouches
- Non-printed Aluminium Bags and Pouches
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Key players have been spending on research & development to come up with newer products with improved lifespan and higher operational flexibility. These enhancements will drive demand for aluminium bags and pouches in the medium- to long-term forecast period.
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