The import of backed aluminium foil to India has shown a consistent upward trend from 2013 to 2023, growing from 18.918 million kilograms in 2013 to 33.406 million kilograms in 2023. The year-on-year growth rate fluctuated significantly, peaking in 2014 with a 24.59% increase, despite minor declines in some years like 2018 and 2020. From 2021 to 2023, the growth rate steadied with 11.69% in 2021, 1.75% in 2022, and 3.58% in 2023. The CAGR over the last five years stands at 4.46%, indicating healthy growth despite some annual fluctuations.
Projected forecasts from 2024 to 2028 suggest a continued upward trend with a consistent increase in volume, reaching up to 39.47 million kilograms by 2028. The forecasted five-year CAGR of 2.60% and an overall growth rate of 13.69% during this period indicate a slower yet steady expansion.
Future Trends to Watch:
- Technological advancements in aluminium foil production that could affect import demand.
- Potential regulatory changes related to imports and tariffs impacting volume.
- Global supply chain disruptions and their lasting effects on import volumes.
- Emerging market demand for sustainable and eco-friendly packaging solutions.
