Aluminum Bag Market Growth Accelerated by Increasing Demand From Food and Packaging Industries
Aluminum bags provide excellent barrier properties that help extend the shelf life of food products. They are lightweight and corrosion resistant, making them suitable for packaging a wide range of items including snacks, coffee, pet food, etc. Their recyclable nature and sustainability credentials have further boosted their adoption.
The global aluminum bag market is estimated to be valued at US$ 3.5 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the food industry has been a key growth driver for the aluminum bag market. Food manufacturers prefer aluminum bags over conventional plastic bags due to their ability to maintain freshness without additional preservatives or chemicals. Aluminum provides superior barrier against moisture, oxygen, and other external agents, thus protecting food contents from contamination. They are ideal for sealing in flavors and fragrances. Aluminum bags are perfect for shelf-stable or long-shelf-life food products with moisture sensitivity such as coffee, nuts, dried fruits, etc. Moreover, the recyclability of aluminum bags appeals to both manufacturers and consumers in the backdrop of rising environmental awareness.
Segment Analysis
The global aluminum bag market is dominated by foil bags. Foil bags hold the largest market share as they provide better barrier properties against moisture, oxygen, and other gases as compared to plastic bags. They help increase the shelf life of food products packaged in them and prevent spoilage. This makes foil bags a preferred choice for several snack food and ready-to-eat meal manufacturers.
Key Takeaways
The Global Aluminum Bag Market Size is expected to witness high growth.
Regional analysis: Increased health awareness and rapid consumption of convenience food has been driving the demand for aluminum bags in North America. The high disposable incomes and busy lifestyles in countries like the US and Canada have boosted the sales of ready-to-eat and packaged food products, augmenting the consumption of aluminum foil bags.
Key players operating in the aluminum bag market are Amcor Plc, Bemis Company Inc, Mondi Group, Berry Global Group Inc, Sealed Air Corporation, Sonoco Products Company, Huhtamaki Oyj, Constantia Flexibles Group GmbH, Clondalkin Group Holdings BV, and Reynolds Group Holdings Limited. Amcor Plc and Bemis Company Inc hold a significant share of the market due to their well established supply chain and wide geographic presence.
For More details on the topic:
https://www.marketwebjournal.com/aluminum-bag-market-market-size-and-share-analysis/
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