by Aluminum bags have been gaining increasing demand across industries like food and beverages, pharmaceuticals, personal care and cosmetics for their properties like high barrier, lightweight and recyclability. Aluminum as a material provides excellent barrier against oxygen transmission and prevents moisture from entering packaged products. This helps in increasing the shelf-life of products packed in aluminum bags. Some key applications of aluminum bags include packaging of coffee, soups, sauces, snacks and medicines. Their high formability allows production of aluminum bags in various shapes and designs as per packaging needs.
The global Aluminum Bag Market is estimated to be valued at US$ 9.83 billion in 2024 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
One of the major trends in the aluminum bag market is the increasing production and usage of ultra-thin aluminum bags for packaging. Manufacturers are focused on developing aluminum bags with thicknesses less than 10 microns while not compromising on barrier properties. This makes aluminum bags more lightweight and affordable. Another notable trend is the rising demand for aluminum-laminated stand-up pouches for coffee and pet food packaging. laminating aluminum foil with polymers extends the shelf-life of products and also offers excellent barrier along with good printability and puncture resistance. Sustainable packaging is also a big driver as aluminum is infinitely recyclable without loss of quality.
Porter’s Analysis
Threat of new entrants: The aluminum bag market has moderate threat of new entrants due to high capital investments required in machinery, materials and compliance with regulations.
Bargaining power of buyers: Buyers have moderate bargaining power in the aluminum bag market due to availability of substitute products however brand loyalty and sustainability factor provide some vendor differentiation.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material suppliers and vendors differentiation based on quality, service and reliability.
Threat of new substitutes: Threat of substitutes is moderate as plastic bags are major substitutes however aluminum bags have an advantage due to sustainability and durability.
Competitive rivalry: The aluminum bag market has high competitive rivalry due to presence of numerous global and domestic players competing on pricing, branding, product differentiation and customer service.
Key Takeaways
The Global Aluminum Bag Market Share is expected to witness high growth. The global Aluminum Bag Market is estimated to be valued at US$ 9.83 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market owing to growth in food packaging industry across China, India and other developing nations in the region. China dominates the Asia Pacific aluminum bag market followed by India and other Southeast Asian countries. North America and Europe are also significant markets for aluminum bags due to growing health consciousness.
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, and Presto. These players are focused on expanding their production facilities and product portfolio through mergers, acquisitions and partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
