Aluminum bags provide excellent barrier properties to help preserve the freshness and quality of a wide variety of food and other consumer products. They help keep soup and other liquid food items fresh for a longer period while also providing enhanced product visibility.
The global Aluminum Bag Market is estimated to be valued at US$ 9.83 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Growth Accelerated by Rising Demand from Food Industry
The food industry has been the major growth driver of the aluminum bag market over the past few years due to the increasing demand for packaging solutions that help extend the shelf life of products. Aluminum bags provide superior barrier protection against moisture, gases, and foreign odors, thus helping food items like soup, juices, and condiments stay fresh for longer durations. The growing consumption of convenience foods has also fueled the use of aluminum bags for soups, coffee, and other liquid food items. The trend is expected to continue with increasing popularity of ready-to-eat meals, driving higher demand for aluminum bags designed for food applications over the forecast period.
Segment Analysis
The global aluminum bag market is dominated by the standup pouch sub-segment which holds around 53% market share. Standup pouches are preferred for packaging dry and liquids goods such as food & beverages, healthcare products, detergents, etc. due to their simplicity in handling and ease of use. Its re-sealable feature allows consumers to store unused content for a longer duration.
Key Takeaways
The global Aluminum Bag Market Share is expected to witness high growth over the forecast period owing to rising demand from end-use industries including food & beverages, healthcare, chemicals, personal care & cosmetics. The global aluminum bag market is estimated to be valued at US$ 9.83 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
North America region currently dominates the market and is expected to continue its lead position owing to developed economies like the US and Canada and presence of major players in the region. Growth in the region is driven by strong economic conditions and increased consumer spending on packaged and ready-to-eat food products. Growing number of working women contributing to rise in demand for convenient packaging in food & beverages industry further supports the market growth.
Key players
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. Amcor holds leading market share owing to its diverse product portfolio and global presence.
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