Aluminium Bags and Pouches Market Projections & Future Opportunities Recorded for the Period until 2
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).
[UKPRwire, Tue Jul 16 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.
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.
In recent years, there has been relentless transformation in packaging technology, with arrival of new packaging composites. Manufacturers are infusing different materials with aluminium pouches and bags in order to make them tougher and lightweight. Aluminium pouches are among the top lightweight packaging materials that are currently used. Most companies opt for lightweight packaging materials owing to their cost benefits. Therefore, demand for lightweight aluminium bags and pouches is expected to remain high in the coming years. Feature such as highly flexibility, compactness and durability of aluminium pouches and bags make them suitable for various packaging requirements.
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Also, aluminium packaging offer comprehensive protection and preservation of various product characteristics such as flavour and fragrance. Companies are utilizing cutting-edge technologies to increase profit and reduce wastage. Nonetheless, unavailability of these technologies in developing regions remains major market restraint. At the same time, the market is also facing challenges owing stringent environmental regulations on the use of non-biodegradable packaging materials. Aluminium based packaging products may take longer during to degrade as compared to paper based packaging materials.
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.
Strong Demand in Food Packaging
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%.
Aluminum Bags and Pouches with Thickness of 0.09 mm – 0.2 mm will remain Sought-After
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.
Non-Printed Aluminium Bags & Pouches to Represent a Leading Segment
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.
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