(MENAFN- Ameliorate Digital Consultancy)
The global aluminium bags and pouches market has reached a size of US$ 12.91 billion in 2023 and is forecasted to climb to US$ 23.57 billion by the end of 2033, expanding at 6.2% CAGR over the decade.
Food, medicine, and other things that need to be protected against moisture, air, and light are frequently packaged in aluminium bags and pouches. This combination of plastic and aluminium gives these bags and pouches exceptional barrier qualities and enables them to be used in a range of applications. Due to rising demand for practical and environmentally friendly packaging options, the market is anticipated to expand in the next years. Aluminium bags and pouches are used to increase product shelf life, decrease food waste, and lessen the environmental effect of packaging.
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Key Driving Forces Accelerating the Market Growth :
Aluminium bags and pouches offer excellent barrier properties and are lightweight, making them an ideal choice for packaging various products. The growing preference for convenient and easy-to-use packaging solutions is driving the demand for Aluminium bags and pouches. United States occupied a majority share of the global packaging industry and the market has been growing steadily in recent years due to increasing demand for packaged food and beverages.
With the busy lifestyle and growing preference for on-the-go consumption, there is an increasing demand for portable and convenient packaging for food and beverages. Aluminium bags and pouches provide excellent protection against light, moisture, and oxygen, making them suitable for packaging snacks, ready-to-eat meals, beverages, and other on-the-go products. There is a growing awareness about the environmental impact of packaging materials, leading to a shift towards more sustainable alternatives. Aluminium bags and pouches are recyclable and offer good recyclability rates, making them a more environmentally friendly option compared to other packaging materials.
Competitive Landscape:
In terms of competition, the aluminium bags and pouches market is highly fragmented, with several domestic and international players operating in the market. Some of the key players in the market include Amcor Limited, Mondi Group, Sealed Air Corporation, and Constantia Flexibles Group GmbH.
Manufacturers are increasingly using digital printing and flexographic printing technologies to print high-quality graphics and designs on aluminium bags and pouches. This allows for more vibrant and attractive packaging, which can help increase product visibility and sales.
To double its plant's capacity for aluminium used in the production of coffee capsules, Novelis announced in April 2022 that it would spend more than US$ 30 million to construct a new continuous annealing line at its Plettenberg-Ohle, Germany, facility. In October 2022, at its Constantia Techia factory in Austria, Constantia Flexibles, a well-known producer of flexible packaging, invested more than US$ 89.68 million in the installation of equipment for enhancing production. The key elements are a modern roll mill and an additional lacquering line, which will aid the company in securing the supply chain while maximizing development potential in the aluminium market.
Key Companies Profiled:
Amcor Limited Novelis Constantia Flexibles Mondi Group plc Bemis Co. Pactiv LLC Symetal Ampco JW Aluminium Ardagh Group
Challenges hindering the market growth :
The market for Aluminium bags and pouches in North America is highly competitive, with numerous players offering similar products. This intense competition can make it challenging for companies to differentiate themselves and gain a significant market share. Competing on factors such as price, quality, innovation, and customer service becomes crucial to sustain growth. Aluminium, as a key raw material for manufacturing Aluminium bags and pouches, is subject to price fluctuations in the global market. Variations in raw material costs can affect the overall production costs for manufacturers, potentially impacting pricing strategies and profitability.
Key Segments of Aluminium Bags and Pouches Industry Research:
· By Material Thickness :
007 to 0.09 09 to 0.2 2 to 0.4
· By Printing :
Printed Aluminium Bags & Pouches Non-printed Aluminium Bags & Pouches
· By Application :
Food & Beverage Packaging Personal Care & Cosmetic Packaging Pharmaceutical Packaging
· By Region :
North America Latin America Europe Asia Pacific Middle East & Africa
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Key Questions Covered in the Aluminium Bags and Pouches Market Report
What will be the estimated size of the Market in 2023? At what rate will the global Aluminium Bags and Pouches sales grow until 2033? Which are the factors hampering the Aluminium Bags and Pouches demand? Which region will spearhead the growth in the global industry by 2033? Which are the factors driving sales in the Aluminium Bags and Pouches Market during the forecast period?
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