Middle East & Africa Aluminum Foil Packaging Market Size, Share & Trends Analysis Report By Product (Pouches, Containers, Blisters), By End Use (Food & Beverages, Cosmetics), And Segment Forecasts, 2020 - 2028
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East & Africa Aluminum Foil Packaging Market Size, Share & Trends Analysis Report By Product, By End Use And Segment Forecasts, 2020 - 2028" - https://www.reportlinker.com/p06134858/?utm_source=GNW
Middle East & Africa Aluminum Foil Packaging Market Growth & Trends
The Middle East & Africa aluminum foil packaging market size is expected to reach USD 2.85 billion by 2028., expanding at a CAGR of 4.8% over the forecast period. The growth is driven by the shift of oil economies in the Middle East toward non-oil industries, including food & beverage, pharmaceutical, and cosmetics.
Aluminum pouches and aluminum containers are being increasingly preferred for takeaway parcels by foodservice outlets owing to the performance benefits of aluminum foils. Aluminum foil packaging is recyclable and thereby expected to achieve significant gains in the flexible packaging segment in the region.
The governmental initiatives to curb the generation of plastic wastage are further expected to support market growth.In February 2017, officials in Jeddah, Saudi Arabia urged foodservice outlets, such as restaurants and bakeries, to stop using plastic bags and replace them with paper bags or aluminum foil containers.
Such regulations are expected to be more prevalent in the coming years in response to the issues associated with plastic waste, thereby supporting the product demand.
Countries, such as Saudi Arabia and UAE, have witnessed an increased number of tourists over the past few years.This is expected to result in the growth of foodservice outlets and Quick-Service Restaurants (QSRs) in the region.
This is expected to augment the consumption of aluminum packaging products, such as pouches and containers.
The COVID-19 pandemic has significantly increased the demand for home delivery of food packets due to restrictions on public movement on streets.Changing consumer behavior has resulted in increased demand at foodservice outlets, wherein aluminum packaging products are majorly used.
This is expected to fuel the product demand for takeaway foods, thereby supporting market growth.
Middle East & Africa Aluminum Foil Packaging Market Report Highlights
• In terms of revenue, the pouches segment is projected to ascend at the highest CAGR of 5.9% over the forecast period. Aluminum foil pouches are used as a primary packaging solution for products, such as tea or plant-based products, as it offers barrier properties against moisture, gases, and light and thereby retains the aroma of the packed products
• The pharmaceutical end-use segment accounted for a revenue share of 17.7% in 2020. With increasing governmental initiatives, such as the VISION 2030 plan of Saudi Arabia, towards the development of non-oil-based industries are expected to support pharmaceutical manufacturing in the region. This is expected to contribute to the market growth in the years to come
• Egypt is projected to be the fastest-growing region over the forecast period owing to the growing food & beverage and pharmaceutical industries. Pharmaceutical manufacturers in the country have been focusing on expanding production capacities to meet the growing demand for drugs. For instance, Sanofi increased the investment in pharmaceuticals in Egypt by 50% in 2019 to gain a higher market share
• Major manufacturers operating in Middle East & Africa (MEA) are increasingly emphasizing sustainable packaging solutions. For instance, in January and October 2018, Amcor plc and Constantia Flexibles pledged to make 100% of their portfolio recyclable or reusable by 2025, respectively. This is expected to support the production of aluminum foil-based packaging solutions
Read the full report: https://www.reportlinker.com/p06134858/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001