Metal Caps and Closures Market
Metal Caps and Closures Market (Type - Crown, Screw Caps, Can-ends, Others; Material - Aluminum, Steel, Tin Plate; End Use - Food, Beverage Packaging, Pharmaceutical, Cosmetics and Personal Care) - Global Industry and Opportunity Assessment 2018 - 2026
Press Release :
Europe and Asia Pacific metal caps and closures market is estimated to account for a combined share of more than 60%, by value, by the end of 2018
The global market for Metal caps and closures was valued at US$ 19,064.4 Mn in 2017. The market is forecast to expand at a CAGR of 3.9% during the forecast period, 2018-2026.
Metal caps and closures are available in various diameters and closure types. Metal caps and closures offer stability and rigidity while conveying a superior product image. With a wide array of metal color decorating options metal caps and closures are a favorite choice for food & beverage industry. These closures provide a designed system capable of easy opening & dispensing. These design systems include tamper evident and child resistant packaging. Child resistant metal caps and closures demand is driven by the need to comply with mandating child-resistant packaging of pharmaceuticals. Tamper evident design system of metal caps and closures prevent the undesired premature opening of bottles or containers. Metal caps and closures come with a plastic liners so that the content and the closure are never in contact with each other. Certain metal caps and closures have resistance to cracking in order to withstand excess torque during screwing (as in for screw caps) or other internal forces. Metal caps and closures have wide variety of end use applications, beverage industry being the highest. Metal caps and closures are used in the packaging of beer, wine and spirits especially crown and screw caps. Among metal caps and closures, crown caps are versatile and are made of special metal which when paired with threaded bottle neck provides best fit. Crown caps are affordable, highly functional, easy handling, high speed of application and true tamper resistance. The most common metal caps and closures for glass and plastic bottles are screw caps. Screw caps are laid flat and wrapped around and naturally formed on the bottle making it the most secure to tamper proof and seal wine and spirits. The ability to decorate metal caps and closures with logos or other designs offers a tool for advertising the distinct brand, and in turn, boosts demand for metal caps and closures.
The metal caps and closures market was valued at US$ 8,976.5 Mn in 2017, and is forecast to expand at a CAGR of 4.1%, during the forecast period. Globally, there is a shift in preference for plastic bottles, and the glass bottles market might face turbulence during the forecast period, which might affect the metal caps and closures market.
Drivers and Restraints
The growth in international trade of food & beverage can prominently attribute to the rising demand for effective packaging solutions, such as metal caps and closures. These solutions ensure longer shelf life of food and beverage products. Metal caps and closures have wide application including packaging of pharmaceuticals and cosmetic & personal care. Rising demand for liquid medicines is a key factor leading to the growth of the metal caps and closures market. The growing use of child-resistant and tamper evident metal caps and closures has gained huge popularity in the market which has encouraged the manufacturers to produce superior quality metal caps and closures. There has been a rapid growth of metal caps and closures market in the beverage segment especially alcoholic beverage. Innovative metal caps and closures with technology which can help the aging of wines and easy pull caps for beer bottles offer a great consumer appeal. The factor driving the wine metal caps and closures market is usage of metal caps and closures in place of corks which destroy the taste of the wine. Aluminum closures being user-friendly and recyclable, fuel the growth of the metal caps and closures market. The rising number of bars and restaurants have remarkably led to the soaring consumption of beer which acts as a driver for the production of metal caps and closures.
Key players operating in the global market for metal caps and closures include Crown Holdings Inc., Sonoco Products Company, Guala Closures Group, Nippon Closures Co. Ltd, Amcor Ltd, O Berk Company, Manaksia Industry Ltd., Pelliconi & C. SPA, CL Smith Company and Closure Systems International
Rising Demand for Processed Food Items to Drive Metal Caps and Closures Market
Metal caps and closures make an offering of stability and rigidity whilst portraying an excellent image of the product to the customers. These caps and closures also come with plastic liners so as to ensure safety of the contents inside the containers. The expansion of the global metal caps and closures market is likely to witness growth at an impressive speed in the near future, thanks to the rising demand for processed food items. In addition, expansion in the global population has catapulted the demand for food and beverage items, which is likely to drive the demand for metal caps and closures. In addition to that, the global metal caps and closures market is likely to thrive on the rising demand for personal care and cosmetic items worldwide.
With the outbreak of global pandemic, Covid-19, there has been increased consumption of wine at home instead of pubs and bars. According to a report by Wine Intelligence, a global leader in wine consumer research and insights, wine consumption at home has made up for the loss incurred due to lockdowns and social distancing. This factor is likely to foster development of the global metal caps and closures market in the years to come.
Increased Concern for Environment to Accentuate Demand in the Market
Flourishing business of food and beverage items is likely to make considerable contribution toward the growth of the global metal caps and closures market in the near future. These packaging solutions make sure that food and beverage items stay fresh on the shelf for a longer period of time. In addition, rise in the use of tamper-evident and child-resistant caps and closures has encouraged manufacturers to make high quality metal caps and closures. In addition to that, there has been augmented concern over environmental pollution and health hazards caused by products made of harmful substances like plastics. This factor has played a significant role in the adoption of environment-friendly options like metal caps and closures.
In this report, Transparency Market Research offers 8-year forecast for the global metal caps and closures market between 2018 and 2026. In terms of value. The global metal caps and closures market is expected to expand at a CAGR of 3.9% during the forecast period. The study reveals metal caps and closures market dynamics in five geographic segments along with market analysis for current market environment and future scenario over the forecast period of the global metal caps and closures market.
This Transparency Market Research report studies the global metal caps and closures market for the period 2018–2026. The prime objective of this report (metal caps and closures market) is to offer insights and key market trends pertaining to metal caps and closures market that are gradually helping transform global businesses.
The global metal caps and closures market report begins with the executive summary for various categories and their share in the metal caps and closures market. It is followed by market dynamics and overview of the global metal caps and closures market, which includes TMR analysis of market drivers, restraints, and trends that are affecting growth of the metal caps and closures market. Furthermore, to understand the popularity of the metal caps and closures segment, the attractiveness index and BPS analysis with elaborated insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR and incremental opportunity. To show the performance of the metal caps and closures market in each country and region, BPS and Y-o-Y growth analysis is provided.
The global market for metal caps and closures is segmented by material, closure type and end use. On the basis of material, global market for metal caps and closures is segmented into steel, aluminium and tin plated. On the basis of closure type, global market for metal caps and closures is segmented into crown, screw caps, can-ends and other closures. On the basis of end use, the global market for metal caps and closures is segmented into food, beverage, pharmaceutical and cosmetics & personal care.
The next section of the report highlights the metal caps and closures market, by region, and provides the market outlook for 2018–2026. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional metal caps and closures market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The report (global metal caps and closures market) evaluates the present scenario and growth prospects of the regional metal caps and closures market for 2018–2026.
To ascertain the market size in terms of value and volume, revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the metal caps and closures market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the metal caps and closures market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the metal caps and closures market and identify the right opportunities across the market.
The global market size for metal caps and closures was tracked from the production capacities of key manufacturers of caps and closures across the world. The penetration of different materials used in manufacturing of caps and closures was estimated and validated as per the findings from primary interviews with key opinion leaders in the industry. The same was validated through bottom-up analysis wherein consumption of metal caps and closures was tracked among various end uses.
The market segment for global metal caps and closures market have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the metal caps and closures market. Another key feature of global metal caps and closures market is the analysis of key segments in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the metal caps and closures market. The overall absolute dollar opportunity along with the segmental split is mentioned in global metal caps and closures market.
To understand key growth segments in terms of growth and adoption for metal caps and closures market. Globally, Transparency Market Research developed the metal caps and closures market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.
In the final section of the report on metal caps and closures market, the ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and their contribution in total metal caps and closures market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the metal caps and closures marketplace.