Caps and Closures Market Size – USD 5.37 Billion in 2018, Growth - CAGR of 5.1%, Trends – Increase in demand for Caps and Closures in the beverages sector.
-The Global Caps and Closures Market size was USD 6.78 Billion in 2022 and is expected to register a revenue CAGR of 4.5% during the forecast period. The market is rising rapidly in the global market due to the high demand for Caps and Closures in the beverages and foods processing verticals. The aluminum helps in temperature insulation, moisture-resistance, resistance to chemical corrosion, non-toxicity, non-absorbance, and exfoliation making it highly convenient in pharmaceutical products packaging also. The global market is rising rapidly due to the increase in the packaging units of beverages and food processing verticals.
Asia Pacific region is forecasted to generate the highest revenue of USD 3.04 Billion in the year 2026, owing to its extensive market penetration coupled with the rising income rate and population mostly in China and India.
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Top Leading Players in The Global Aluminum Caps and Closures Market Are:
Amcor, Remy Caps, Alcopack, Aludium, Federfintech, DGS, Herti, United Closure, Alameda Packaging, and ITC Packaging.
Further key findings from the report suggest:
- Foods end-use verticals include food-oils, milk, sauces, dairy products, and jam & jellies, to name a few. Foods also need a high level of insulation from the outer weather. Aluminum insulation keeps the food healthy and fresh and helps remain edible for an extended period. Foods segment is forecasted to gain a growth of 5.2% in 2019-2026.
- Personal Care Products are the range of health-grooming products and toiletries such as antiseptic liquids, grooming oils and gels, perfumes, and others. This segment is expected to have a market revenue of USD 0.97 Billion by 2026.
- Flip top caps are often seen in the beer bottles, premium water jars, Ittar perfume bottles, and others. Flip Top has a market share of 13.1% in 2018 and growing with a CAGR of 4.9% during the forecast period.
- Crown Cork is vastly used in the soft-drink glass bottles, beer bottles, dairy drinks, and others. This type of caps are meant to be for use-and-throw purpose as the crown corks cannot be reused for closing the bottles without proper sealing machines, once opened. As the name suggests, the caps are crown alike and mostly used with the glass bottles. The crown cork is growing with a CAGR of 5.5% and will achieve a market revenue of USD 1.38 Billion by 2026.
- Non-Reusable are the ones, which could not be reused once the seal is broken. E.g., crown corks, easy open end, peel-off foils, and others are under the non-reusable segment. The market growth is getting slowed down as this type of caps are for a use-and-throw purpose and is only incorporated with the containers which are made for one-time consumption. The segment is forecasted to get a market share of 31.3% by 2026.
- APAC, owing to its most extensive population base and rising developing economies, is helping the market grow with the fastest CAGR of 6.6% throughout the forecast period. China and India are some of the active contributors in this region.
- North America is accounted to gain 21.1% of market possession by 2026 with a CAGR of 5.6% in the forecast period.
- Europe is forecasted to witness a significant growth in the overall market, with 23.3% of market possession by 2026 and CAGR of 4.8% during the forecast period.
Segments covered in the report:
Caps & Closures Type Outlook (Revenue, USD Billion; 2016-2026)
- Roll-on Pilfer Proof (ROPP)
- Flip Top
- Crown Cork
- Press Twist
- Easy Open End
- Spray Bottle
- Peel-Off Foil
- Closure Strips
Type of Usability Type Outlook (Revenue, USD Billion; 2016-2026)
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2026)
- Personal Care Products
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Aluminum Caps and Closures Market Upcoming Growth:
The aluminum caps and closures market is expected to grow in the coming years, driven by several factors such as the increasing demand for packaged food and beverages, the growing preference for lightweight and convenient packaging solutions, and the rise in consumer awareness regarding the importance of product safety and freshness.
Furthermore, the growth of the beverage industry, particularly in emerging economies, is also expected to fuel the demand for aluminum caps and closures. Aluminum closures are widely used in the beverage industry for their superior sealing properties and ability to maintain carbonation in carbonated drinks.
Innovations in materials and designs are also contributing to the growth of the aluminum caps and closures market. For example, there is an increasing focus on using eco-friendly materials for packaging, which is gaining popularity among consumers and manufacturers alike.
Moreover, the growth of e-commerce and online food ordering platforms is expected to drive the demand for aluminum caps and closures in the packaging of food and beverage products.
Overall, the aluminum caps and closures market is expected to continue to expand as the demand for convenient, safe, and eco-friendly packaging solutions continues to increase.
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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