Dublin, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The "Aluminum Caps & Closures Market by Product Type (Roll-on pilfer-proof caps, Easy open end lids, Non-refillable closures), End-Use Sector (Beverage, Pharmaceutical, Food, Home & personal care), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Aluminum Caps & Closures Market Size is Projected to Grow from USD 6.2 Billion in 2020 to USD 7.6 Billion by 2025, at a CAGR of 3.9%
Increasing demand for convenience food, concerns about product safety and security, product differentiation and branding, and decreasing pack sizes are driving the market for aluminum caps & closures. However, the development of substitutes is expected to restrain this market. Emerging economies are expected to offer significant growth opportunities to manufacturers of aluminum caps & closures. The major challenge faced by players is the mature market in developed regions.
The roll-on pilfer-proof segment is expected to grow at the highest CAGR during the forecast period in the aluminum caps & closures market.
The roll-on pilfer-proof segment accounted for the largest share and is projected to grow at the highest CAGR during the forecast period. This is attributed to its wide application in various end-use industries such as beverage, pharmaceutical, and personal care.
This type of cap is widely used for capping food jars, beverage bottles, creams, lotions, and home care products. ROPP caps are preferred in a variety of key liquor brands, including Jose Cuervo Tequila, Johnny Walker, and J&B Scotch. Additionally, inherent to their design, ROPP closures maintain the authenticity of the product by making it hard to tamper with before it reaches the consumers.
The beverage segment is expected to account for the largest share in the aluminum caps & closures market
Beverage packaging is the largest end-use sector of aluminum caps & closures. Beverage packaging is used to enhance the shelf life as well as to retain the taste and texture of the beverage. The demand from beverage companies for novel differentiating closures drives the market for premium caps in the beverages industry. Aluminum caps & closures have witnessed extensive traction for the packaging of bottled water, carbonated soda drinks, and non-carbonated soda drinks.
APAC is expected to be the largest aluminum caps & closures market during the forecast period, in terms of volume.
China, India, and Australia are the major countries contributing to the aluminum caps & closures market in APAC. The growth is driven by factors such as the rise in demand for single-portion packs or small packs, increased demand for convenience food, concerns about product safety & security, and need for product differentiation and branding. The presence of many small and medium aluminum caps & closures manufacturers has also contributed to the growth of the aluminum caps & closures market in this region.
Market Dynamics
Drivers
- Increasing Demand for Convenience Food
- Concerns About Product Safety and Security
- Product Differentiation and Branding
- Decreasing Pack Sizes
Restraints
- Development of Substitutes
Opportunities
- Emerging Economies
Challenges
- Matured Markets
Porter's Five Forces Analysis
Macroeconomic Indicators
- Introduction
- Rise in Disposable Income
- Increase in Middle-Class Population
- Increase in GDP of Emerging Economies
COVID-19 Impact on Aluminum Caps & Closures Market
- Impact of COVID-19 on End-Use Sectors of Aluminum Caps & Closures
- Impact of COVID-19 on the Pharmaceutical Industry
- Impact of COVID-19 on the Home & Personal Care Industry
- Impact of COVID-19 on Various Countries
Companies Mentioned
- Alameda Packaging
- Alcopack Group
- Alupac India
- Alutop
- Amcor plc
- Cap & Seal Pvt. Ltd
- Crown Holdings, Inc.
- Dyzdn Metal Packaging
- Ema Pharmaceuticals
- Federfin Tech S.R.L.
- Global Closure Systems
- Guala Closures S.P.A
- Herti Jsc
- Hicap Closures
- Integrated Caps
- Itc Packaging
- J.G. Finneran Associates
- Kgs & Co
- Manaksia Limited
- Mjs Packaging
- Osias Berk Company
- Shangyu Sanyou Electro-Chemical Aluminum Products
- Silgan Holdings
- Torrent Closures
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