Cap Applicators Market
Cap Applicators Market (Machine Type - Automatic Capping Machines, Semi-automatic Capping Machines, and Hand-held Capping Machines; Cap Type - ROPP caps, Screw Caps, Snap-on Caps, Crown Caps, and Corks; End Use - Food & Beverage, Pharmaceuticals, Personal Care, and Consumer Products) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Cap Applicators Market: Snapshot
The global market for cap applicators is significantly influenced by the recent technological advancements observed in the packaging machinery market. Increasing adoption of automation capabilities in capping machines are directing the packaging industry towards a much more profitable and efficacious future. The demand for such highly effective capping machines is rising on the backdrop of the flourishing food and beverages industry, which contains a large variety of products and packages which often requires new packaging equipment.
Transparency Market Research estimates that the global cap applicators market will be valued at US$1,133.8 mn by 2016 and rise to US$1,866.7 mn by 2024, representing an incremental opportunity of US$732.8 mn between 2016 and 2024. This translates to a healthy CAGR of 6.4% from 2016 to 2024. In terms of volume, the market is expected to expand at a CAGR of 5.5% over the said period.
Automatic Cap Applicators to Surpass Hand-held and Semi-automated Capping Equipment by Demand
Of the key varieties of capping machines available in the global market, including automatic, semi-automatic, and hand-held, the automatic variety is currently the most preferred and is expected to continue accounting for the leading share in market’s overall revenues throughout the forecast period as well. The segment is expected to account for a more than 87% of the global market by 2024, witnessing a 1.7 times increase in its revenue share in the global market from 2016 to 2024.
The segments of semi-automatic and hand-held capping machines are expected to lose a sizeable share in the market to automatic capping machines by the end of the forecast period. The vast usage of automatic capping machine in manufacturing sectors across the developed economies of Europe and North America are expected to support this transition. Furthermore, developing countries such as China and India are constantly adopting government regulations focused on prevention of contamination across the manufacturing sector, which are expected to up the adoption of automatic capping machines.
Asia Pacific to Continue Being Dominant Revenue Contributor
In terms of geography, the Asia Pacific market for cap applicators is expected to be the most promising regional market in terms of incremental opportunities for high revenue generation in the future years. The region is estimated to emerge as the dominant segment contributing to the global market revenue, with a share of 34.6% in the global market in 2016, followed by Europe and North America. The relatively mature cap applicator markets such as Europe and North America are highly regulated and are likely to develop an approximately 6.1% higher demand for cap applicators in 2016 than the previous year. Latin America and Middle East are estimated to collectively represent slightly over 12% of global cap applicators market in 2016.
The Asia Pacific cap applicators market is expected to surpass all other regional markets, exhibiting a CAGR of over 6.6% between 2016 and 2024. Over the next half of decade, Asia Pacific region is expected to provide immense opportunities for packaging machinery manufacturers on the backdrop of supportive organizational changes in the food and beverages and pharmaceutical sectors. The Asia Pacific market is also expected to witness significant development of many packaging institutions and companies planning to set up their manufacturing facilities in the region to gain economies of scale.
Furthermore, high demand for broad range of packaged products, driven significantly by rising disposable incomes, is expected to propel the Asia Pacific cap applicators market over the forecast period. This trend is highly impactful in countries such as India and China, wherein the population witnessed 4% to 5% growth in disposable incomes between 2010 and 2015.
The key participants in the global cap applicators market are Tetra Pak, Krones Ag, Crowns Holdings Inc., Bosch Packaging Technology, Closure System International, Tecnocap Group, Federal Mfg. Co., E-PAK Machinery, Inc., Karmelle Liquid Filling & Capping Solutions Limited, and Accutek Packaging Equipment Companies, Inc.
Thriving Food and Beverages Sector Fuels Expansion of Cap Applicators Market
Cap applicators refer to closing equipment that are widely employed for sealing a wide range of packages including bottles and other containers. Depending on various closures with different sizes and designs, there are wide range of cap applicators available in the market. Generally, cap applicators are utilized for sealing of bottles that comprise liquid or dairy products. Thus, the global cap applicators market is gaining prodigious demand opportunities from dairy industry across the globe.
Cap applicators are extensively used by companies engaged in the pharmaceuticals, food and beverage, consumer products, and personal care products. Apart from this, they also used in many end-use industries such as chemicals and automotive fluids. Cap applicators are gaining traction across food and beverages industry as they help in maintaining the freshness of products until they are opened. The government bodies in many developing regions are introducing stringent regulations related to prevention of contamination in manufacturing industries. As a result, there is remarkable growth in demand for cap applicators from all these regions.
Depending on nature of operation, there are three types of capping equipment available in the global cap applicators market, namely, automatic capping machines, handheld capping machines, and semi-automatic capping machines. Several companies engaged in the global cap applicators market is growing efforts to advance the quality of the products they provide. As a result, they are increasing focus on research and development activities.
The recent COVID-19 pandemic has slowed down the overall economic growth of the globe. The companies engaged in the various manufacturing sectors are experiencing noteworthy drop in their sales. This scenario is showing adverse impact on the revenues of the cap applicators market. This aside, the companies engaged in the cap applicators market are facing issues related to production and trading activities. To deal with this issue, many industry leaders are growing focus toward strategizing their business moves and regain their regular activities.
Global Cap Applicators Market: Scope and Methodology
This report provides forecast and analysis of the cap applicators market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (units) and revenue (US$ Mn). It comprises overview of packaging machinery market along with their key drivers. Further, it also includes drivers, restraints and the ongoing trend of the cap applicators market along with their impact on demand during the forecast period. The report also comprises the study of opportunities available in the market for cap applicators on the global and regional level. It also includes the detailed regional pricing analysis and value chain analysis with list of components producers and packaging machinery manufacturers in the value chain.
In order to provide the users of this report with comprehensive view of market, we have included detailed competitiveness analysis and company players with unique selling propositions. The competitive dashboard provides detailed comparison of cap applicators manufacturers on parameters such as company’s revenue, unique selling propositions and key strategic developments. The study encompasses market attractiveness analysis, by machine type, cap type, end-use, and region.
Global Cap Applicators Market: Segmentation
The report includes consumption of cap applicators and the revenue generated from sales of cap applicators in all regions and important countries in these regions. The machine segment comprises of present and forecast demand for automatic capping machines, semi-automatic capping machines and hand-held capping machines. The cap type segment comprises of demand for ROPP caps, screw caps, snap-on-caps, crown caps and corks. End-use industry segment comprises of demand for cap applicators in industries such as food & beverages, pharmaceutical, personal care, consumer products and others.
Market statistics have been estimated based on average consumption and weighted average pricing of three types of machines namely automatic capping machines, semi-automatic capping machines and hand-held capping machines by machine segment. Market size and forecast for each segment have been provided in the context of global and regional markets. Market size and forecast for each product segment have been provided in the context of global and regional markets. Market dynamics prevalent in China, North America, and Europe have been taken into account for estimating the growth of the global market. Market estimates for this study have been based on volume, with revenue being derived through regional weighted average price trends. The cap applicators market growth has been analyzed based on expected demand over long term and short term coupled with macro-economic, demand side and supply side factors.
Market data for each segment is based on demand volume and corresponding revenue. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback and application requirement. All existing key end-users have been considered and potential in application areas have been arrived on the basis of secondary sources and feedback from primary respondents. Regional consumption patterns have been considered while estimating the market for various end-users of cap applicators or capping machines in different regions. Top-down approach has been used to estimate the cap applicators market by regions. Market numbers for global machine type, cap type, and end-use segments have been derived using the bottom-up approach, which is cumulative of each region’s demand. Regional demand is the summation of sub-regions and countries within the target regions.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include PMMI (The Association for Packaging and Processing Technologies) Institute of Packaging Machinery Manufacturers of India, Factiva, Packaging Digest, Pack World, Hoover’s, and company annual reports and publications among many others.
Global Cap Applicators Market: Competitive Landscape
Key players in the global cap applicators market include Tetra Pak, Krones AG, Bosch Packaging Technology, Crowns Holdings Inc., Closure System International, Tecnocap Group, Federal Mfg. Co., E-PAK Machinery, Inc., Karmelle Liquid Filling & Capping Solutions Limited, Accutek Packaging Equipment Companies, Inc., IC FILLING SYSTEMS Ltd. Company profiles include attributes such as company overview, financial overview, business strategy, SWOT analysis, and recent developments.
The global cap applicators market has been segmented as below:
Cap Applicators Market - Machine Type
- Automatic Capping Machine
- Semi-Automatic Capping Machine
- Hand-Held Capping Machine
Cap Applicators Market - Cap Types
- ROPP caps
- Screw caps
- Crown caps
Cap Applicators Market – End-use Type
- Food & Beverage
- Personal care
- Consumer Products
- Others ( Chemical Products, Automotive Fluids)
Cap Applicators Market – Region-Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East and Africa (MEA)