- The metal caps and closures market is expected to gain the valuation of US$ 26.8 Bn by 2026
- Rising demand for caps and closures in the food & beverages industry is fueling market growth
- Increasing trend of consuming on-the-go food and ready-to-eat food is propelling the Asia Pacific metal caps and closures market
ALBANY, N.Y., April 21, 2022 /PRNewswire/ -- A study by Transparency Market Research (TMR) projects the global metal caps and closures market to expand at a CAGR of 3.6% during the forecast period from 2022 to 2026. Hence, the global market is estimated to be valued at US$ 26.8 Bn by 2026.
Metal caps and closures are gaining traction globally, owing to their ability to provide rigidity and stability. Moreover, these products also offer an attractive product image, notes the TMR study on the metal caps and closures market. Metal caps and closures are utilized in different end-use industries such as personal care & cosmetics, pharmaceuticals, and food & beverages industries. This wide range of application is fueling the demand prospects in the global metal caps and closures market.
Companies operating in the metal caps and closures market are offering their products in varied diameters, colors, and closure types in order to attract more customer base. In addition, they are increasing investments in product innovations. Moreover, many players operating in the global metal caps and closures market are focusing on expanding their businesses in newer regions through different strategic moves, including mergers, acquisitions, and partnerships.
Players in the metal caps and closures market are expected to gain sizable sales opportunities in Asia Pacific, owing to the expansion of food retail industry and rise in trend & adoption of ready-to-eat food and on-the-go food products in many nations such as China and India.
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Metal Caps and Closures Market: Key Findings
- In the food & beverages industry, different types of caps and closures are being utilized in order to improve the shelf life of varied food products. Moreover, they are also increasingly being adopted, owing to their ability to help in maintaining texture, flavor, and color of food and beverages. This factor, in turn, is fueling sales prospects in the global metal caps and closures market. Moreover, the market for metal caps and closures is estimated to gain lucrative prospects, owing to growing use of tamper-evident and child-resistant metal caps and closures around the world.
- Many packaging service providers today are increasing the use of different sustainable raw materials in their packaging solutions. This factor is generating promising business prospects in the global metal caps and closures market. Moreover, rising inclination among consumers toward using products manufactured using recyclable and environment-friendly raw materials is creating demand opportunities in the global market metal caps and closures. The global metal caps and closures market is prognosticated to observe notable business opportunities during the forecast period, owing to the expansion of the e-commerce industry and rising penetration of social media globally.
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Metal Caps and Closures Market: Growth Boosters
- Increase in demand for processed food products globally is estimated to fuel sales in the metal caps and closures market during the forecast period
- Growth of personal care and cosmetics industries globally is generating sizable business opportunities in the global metal caps and closures market
Metal Caps and Closures Market: Key Players
Some of the key players profiled in the report are:
- Sonoco Products Company
- Crown Holdings, Inc.
- Amcor Limited
- Guala Closure Group
- Berk Company, LLC
- Nippon Closures Co. Ltd
- Pelliconi & C. SPA
- CL Smith Company
- Manaksia Industry Ltd.
- Closure Systems International
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Metal Caps and Closures Market Segmentation
Closure Type
- Crowns
- Screw Caps
- Can Ends
- Others
Material Type
- Steel
- Aluminum
- Tin
End Use
- Food
- Dairy Products
- Meat, Poultry, and Seafood
- Ready-to-eat Food
- Others
- Beverage
- Alcoholic
- Non-alcoholic
- Pharmaceuticals
- Personal Care
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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