Aluminium Bags and Pouches Market Outlook and Growth Stance Forecasted Through 2022
the global aluminium bags and pouches market is expected to register a sound CAGR of 5.5% during the forecast period (2017-2022).
[UKPRwire, Tue Jun 11 2019] Growing demand for convenience packaging and importance of extended shelf-life of miscellaneous packaged goods is driving the need for more efficient packaging materials. This is likely to create lucrative growth opportunities for the global Aluminium Bags and Pouches Market. Uses of aluminium bags and pouches have grown to a significant extent in recent years. From medicine to beverage to cosmetic – aluminium packaging, in many ways, increase a product’s lasting capacity. Moreover, advancements in packaging technology is further boosting the potentials of aluminium bags and pouches. These packaging materials are being infused with flexible films in order to make them lighter as well as more durable. Aluminium pouches are one of the lightest packaging material in a packaging composite. Lightweight aluminium bags and pouches can help in reducing overall cost of storage and transportation of the product and the packaging itself.
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As the recent report published by Fact.MR, the global aluminium bags and pouches market is expected to register a sound CAGR of 5.5% during the forecast period (2017-2022). Aluminium applications are extremely efficient in protecting perishable items, at the same time, they are cost-effective. Also, they are compact and can be easily placed in constricted places. Aluminium packaging can protect and preserve fragrance and other characteristics of a product. Aluminium bags and pouches are also used for protecting sensitive items that require optimum protection from the outer atmosphere to avoid spoilage. However, stringent regulations and increasing concerns over environmental degradations due to generation of non-biodegradable packaging waste is expected to impact the growth of the aluminium bags and pouches market during the forecast period.
Europe is expected to lead the global aluminium bags & pouches market in 2017 and the trend is likely to continue throughout the forecast period. The region’s market is projected to grow at a significant rate over the next couple of years. Meanwhile, the market in Asia-Pacific Excluding Japan (APEJ) is set to witness the fastest CAGR between 2017 and 2022.
On the basis of application, the food packaging segment is expected to hold the top position in 2017 and beyond. By 2022, the segment is anticipated to surpass a market valuation of US$ 1,600 Mn, reflecting a CAGR of 6.9%.
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Based on material thickness, the 0.09 mm – 0.2 mm segment is expected to remain highly attractive over 2022. Currently, this segment commands for a little less than 50% revenue share of the market and is projected to exhibit an impressive CAGR during the assessment period.
By printing, the non-printed aluminium bags & pouches segment is expected retain is leading position over 2022. In terms of, this segment currently represent for nearly two-third share of the market and is likely to reach a valuation in excess of US$ 3,200 Mn by 2022-end.
Fact.MR in its report has profiled some of the leading companies operating the global aluminium bags and pouches market, which include Amcor Ltd., Pactiv LLC, Novelis, Inc., Bemis Co., Inc., Clifton Packaging Group Ltd., Ess Dee Aluminium Limited, Mondi Group plc, Berry Global Group, Inc., Protective Packaging Ltd., and Printpack Inc.
Key Insights from the Report Include:
Europe will continue to spearhead the global market for aluminium bags and pouches during the projection period (2017-2022). The market in Europe is anticipated to reflect a steady growth in 2017 and beyond.
Asia-Pacific Excluding Japan (APEJ)’s market is likely to exhibit a robust CAGR of 6.3% during 2017 to 2022, which is higher than any other region.
Based on application, demand for aluminium pouches and bags from the food packaging sector will remain relatively high during the assessment period. More than US$ 1,600 Mn worth aluminium pouches and bags are estimated to be used for food packaging over 2022.
On the basis of material thickness, preference for aluminium pouches and bags with thickness of 0.09 mm – 0.2 mm is expected to remain relatively high during the forecast period. Global sales of aluminium pouches and bags with 0.09 mm – 0.2 mm thickness currently account for nearly 50% share of the market in terms of revenue.
By printing, demand for non-printed aluminium bags and pouches is expected to gain further traction in the coming years. Global sales of non-printed aluminium pouches and bags presently command over 70% revenue share of the market.
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