Dual-spout closures are two-piece closures particularly used in pharmaceutical, cosmetic, and food industry. One of the types of dual-spout closure gives consumer ease to use two formulations simultaneously from two containers packed as one. The user can mix two formulations together, before administration the solution out of a bottle. Manufacturers are introducing advanced designs for dual spout closures to entice the consumer convenience. Recently, Triumph Pharmaceutical launched a dual spout closures for its oral care product category; SmartMouth which allows the users to use two solutions simultaneously from two bottles packed as one. The product comes in two PET bottles with one closure. The product is fully shrink-wrapped, and the consumer can mix two solutions together, even before dispensing the liquid out of the bottle. The Dual-spout closure market is expected to grow at a significantly high growth rate and is safe and secure as there are various and regulations over the packaging of pharmaceutical formulations.
Dual-spout Closure Market: Dynamics
The factor driving the market of dual-spout closure is growing pharmaceutical cap and closure market. Other factors driving the market of dual-spout closure are convenient packaging, innovation in pharmaceutical packaging, etc. The availability of a wide range of innovative packaging solutions is likely to have a significant influence on the demand for private label packaging market during the forecast period. Manufacturing of dual-spout closure will require relatively high raw material than the single piece cap, which will lead to increasing cost for final packaging.
Considering these factors, the final product price will increase, which will be a restraint for the dual-spout closure market. The key trend in dual-spout closure market is the replacement of two pieced caps over one piece and regulations over the packaging of pharmaceutical products. Therefore, the dual-spout closure market will remain safe and secure and will be in the steady growth phase. The company manufacturing dual-spout closure have significantly high opportunity in regions such as Middle East Africa and Latin America as in these regions the pharmaceutical cap and closure industry is in its growth phase which will lead to the growth of dual-spout closure demand.
Dual-spout Closure Market: Segmentation
Dual-spout closure market is segmented by raw material, by application, and by region. The global dual-spout closure market is segmented by raw material into plastic resins, rubber, aluminium, and others. Among these plastic resins has significantly high-value share followed by aluminium.
Based on raw material the global dual-spout closure market is segmented into:
- Plastic resins
Based on application the global dual-spout closure market is segmented into:
Dual-spout Closure Market: Regional overview
By region, dual-spout closure market is segmented as North America, Latin America, Europe, Asia-Pacific, and Middle East Africa. The global market for dual-spout closure witnessed a significant growth in last few years, where, Europe and Asia-Pacific regions are the key contributors. Consumer convenience is a key factor driving the growth of dual-spout closure market across the globe. The value share of dual-spout closure in developed economies, such as North America, and Europe is relatively high compared to developing regions such as MEA and Latin America and is expected to maintain its dominance over the forecast period. Whereas, the Asia-Pacific and Middle East Africa market is expected to witness considerable growth rate in the global dual-spout closure market.
Dual-spout Closure Market: Key Players
The key player of dual-spout closure market are Caps & Closures, Amcor, O.Berk, Global Closure Systems, Closure Systems International, Triumph Pharmaceuticals Inc. Other players of dual-spout closure market are Guala Closures, Alpha Packaging, Mocap, Technocap, Phoenix closures, Reynold, WestRock, Nalgene, Bloopak Co.,LTD, Shanghai Xuerui Imp. & Exp. Co.Ltd (Cosmetic Packaging Dept), Jinjiang Jiaxing Home Co., Ltd., etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.