Dublin, Dec. 23, 2020 (GLOBE NEWSWIRE) -- The "Aluminum Caps And Closures Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
"Rising product safety concerns worldwide will boost market growth"
The global aluminum caps & closures market is rising significantly, anticipated to expand at a CAGR of 4.3% during the estimated period from 2019 to 2027, starting from US$ 5.60 Bn in 2018.
The rising concerns for product security and safety along with growing demand for convenience packaging solutions the market is growing substantially. Decreased pack size and growing need for branding and product differentiation are expected to drive the aluminum caps & closure market growth over the forecast period. Wide application of aluminum caps & closures in various end-use industries (such as pharmaceuticals, personal care & home, food, and others) is anticipated to further enhance the market growth during the forecast period.
Product Type Analysis
"Growing application across industries to spur the segment growth"
The roll-on pilfer-proof caps segment has a major share in the market in 2018 and projected to grow with the highest CAGR over the forecast period. The segment has the largest share owing to a wide application in the pharmaceutical and food & beverage industry. ROPP caps have numerous benefits such as tamper-evident, cost-effective, and others which are expected to support the segment growth in years to come. The ROPP caps provide more space for graphics, logos, and other design features due to that the roll-on pilfer-proof caps preferred by packaging manufacturers. As a result of the abovementioned factors, the segment is anticipated to continue its dominance during the forecast period.
End-user Analysis
"Increasing the food & beverage industry to spur the segment growth"
In 2018, the food & beverage segment had a major share in the global aluminum caps & closures market. Wide application of aluminum caps & closures for the packaging of non-alcoholic and alcoholic beverages is the major factor for the major share of the segment. Aluminum caps & closures provide safety to the beverages against the increasing counterfeiting issues for bottled water, spirits, premium olive oil, and others which supports the segment growth over the forecast period. The surge in demand for beverages is anticipated to further drive the segment growth during the forecast period.
Regional Analysis
"The rising demand for aluminum caps & closures to spur the Asia Pacific growth"
In 2018, Asia Pacific dominates the global aluminum caps & closures market. Improved economic conditions and growth of the beverages industry are major factors driving regional growth. The growing healthcare industry in the region coupled with government regulations is expected to enhance the regional growth during the forecast period. A rise in per capita income & population increase and positive economic outlook are some other factors anticipated to support the regional growth over the forecast period. China and India are projected to be major contributors in Asia Pacific growth in years to come. Therefore, Asia Pacific is expected to show the highest CAGR and anticipated to continue its dominance throughout the forecast period.
Key Industry Developments:
In 2019, Amcor Plc launched EASYPEEL capsule for the wine opening. The aforementioned product is projected to make the wine opening much easier and also preserves the time-honored traditions.
List of Companies Covered:
- Federfin Tech S.R.L
- Alameda Packaging
- Crown Holdings
- Cap & Seal Pvt. Ltd.
- Amcor Plc
- Shangyu Sanyou Packging Co. Ltd.
- Torrent Closures
- Guala Closures
- Dyzdn Metal Packaging
- J.G. Finneran Associates
- Silgan Holdings
For more information about this report visit https://www.researchandmarkets.com/r/rbp9c4
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