The study, which is based both on desk research and multiple waves of qualitative primary research, is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the aluminum foil industry in any manner.Aluminum foil refers to a malleable, recyclable, and non-toxic metal rolled sheet easily available in varying thicknesses depending on its application. It provides protection against light, moisture, microorganisms, oxygen, and other components that may lead to product spoilage. Aluminum foil is commonly used in manufacturing aseptic packaging that allows the storage of perishable goods without refrigeration. It also finds numerous applications in the packaging of pet food, pharmaceutical products, ready-to-eat (RTE) food items, cosmetics, etc.
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The escalating demand for ready-to-eat food products and beverages, along with the expanding online food delivery channels, is primarily driving the aluminum foil market across the globe. Apart from this, the increasing usage of aluminum foil in combination with flexible films to form a strong barrier is further propelling the market for aluminum foil. Moreover, the rising utilization of aluminum foil in the packaging of cosmetic products to protect them from contamination during transportation and shipping is acting as another significant growth-inducing factor. Besides this, the implementation of stringent regulations by the government authorities of several nations to ban the utilization of single-use plastic is also bolstering the adoption of aluminum foil for packaging. Moreover, the escalating demand for pharmaceutical products due to the increasing prevalence of infectious and chronic diseases is further contributing to the market growth. Additionally, the growing need of aseptic packaging solutions owing to the spread of coronavirus disease through packaging surfaces is projected to cater to the growth of the aluminum foil market over the forecasted period.
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Note: We are closely monitoring market movements as well as customer behavior around the globe in view of the COVID-19 pandemic. After taking the effects of this epidemic into account, we make our predictions on the most recent market trends and forecasts.
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