Aluminum bags offer several advantages over conventional plastic bags such as lightweight, durability, recyclability and barrier properties against moisture, oxygen and other gases. They help extend product shelf life while requiring less storage space. Aluminum being 100% recyclable, aluminum bags produce less waste and are increasingly gaining popularity for packaging of several products across food & beverages, chemicals and other industries.
The global aluminum bag market is estimated to be valued at US$ 9.83 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
One of the key trends contributing to the growth of aluminum bag market is growing demand from the food industry. Aluminum bags are widely used for packaging of snacks, coffee, pet food and several other food products due to their moisture and gas barrier properties. This helps protect the food from external environmental factors and significantly extends its shelf life without requiring preservatives. Moreover, aluminum being 100% recyclable appeals to environmentally conscious consumers and allows companies to position their brand as sustainable. Many food companies are opting for aluminum bags over plastics to strengthen their environmental credentials which is fueling rapid growth of the market.
Segment Analysis
The global aluminum bag market is dominated by the food and beverage sub-segment. This sub-segment currently holds around 60% of the overall market share owing to high demand for aluminum bags from end-use industries like tea, coffee, snacks, etc. Aluminum bags help keep food items fresh for long hours and also provide shine and appeal to packaged food products on shelves.
Key Takeaways
The global aluminum bag market is expected to witness high growth over the forecast period from 2023 to 2030. Regional analysis shows that Asia Pacific is currently the fastest growing as well as dominating region in the aluminum bag market. This is due to rapid urbanization, rising population, growing food processing industries and changing dietary patterns in countries like India and China. Key players operating in the aluminum bag market are Amcor, Mondi, Sonoco, Bemis, Novolex, Berry Global, Pactiv, ProAmpac, Coveris, Huhtamaki, Technovin, Flexopack, Celplast, UltraSource, Printpack, Bryce, Genpak, Astrapak, Plus Packaging, Presto.
The Asia Pacific regional aluminum bag market is projected to grow at a CAGR of more than 8% during the forecast period. This is attributed to growing demand for convenience food products and ready-to-eat meals in densely populated countries like India and China. Factors like increasing disposable incomes, urbanization and rising exposure to global cuisines are driving the sales of packaged food items in Asia Pacific. Aluminum bags provide excellent barrier properties to moisture, air and microbial activity, which helps extend the shelf life of food products. This increasing preference for longer shelf life is fueling adoption of aluminum bags across Asia Pacific's food industry.
Key players like Amcor, Berry Global and Pactiv are focused on expanding their aluminum bag product portfolio and production capacities in Asia Pacific and MEA regions. These companies are investing in setting up manufacturing plants in countries like India to cater to the burgeoning demand. They are also introducing customized aluminum bags for specific end-use industries like coffee, spices, snacks, etc. to strengthen their market position. New product development and strategic expansion plans in high growth regions will help major players consolidate their leadership in the global aluminum bag market over the forecast period.
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