Market Insights Reports delivers key insights on the Global Metal Caps And Closures market in its latest report titled, “Metal Caps And Closures Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The metal caps and closures market was valued at USD 1.03 billion in 2020, and it is expected to reach a value of USD 1.12 billion by 2026 at a CAGR of 1.77% over the forecast period, 2021-2026.
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Top Key Players in the Global Metal Caps And Closures Market: Crown, Sonoco Products, Guala Closures, Nippon Closures, Amcor, O.Berk, Manaksia, Pelliconi, CL Smith, Closure Systems International, Silgan, Alpha Packaging, and Others.
– July 2019 – Growpacker Inc., a contract manufacturer of THC- and CBD-infused edibles in the United States, announced to launch its patent-pending Cannasafe, a child-resistant lid for aluminum cans containing THC-infused beverages.
– Apr 2019 – Tap and Thinfilm develop smart closures tackled counterfeiting in the wine and spirits industry. The OpenSense solution used detects when a closure seal was broken and alerts the consumer that the container or bottle may have been tampered with.
Metal caps and closures provide rigidity and stability while portraying a superior product image to the consumers in the market.
– Stringent regulations by the CPSC, FDA, and ISO, among others, have been instrumental in driving product innovation and sophistication across the pharmaceutical, food & beverage, and cosmetic industries.
– Moreover, the growth in international trade of food and beverage can prominently attribute to the rising demand for effective packaging solutions, such as metal caps and closures. These solutions ensure the longer shelf-life of food and beverage products.
– Further, 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.
– The growing concerns regarding the usage of environment-friendly products have boosted the adoption of metal caps and closures. Though plastic-based caps pose a high threat for the metal caps, the plastic caps market is witnessing high threats regarding environmental problems. This has been creating the opportunity for the metal caps and closures. Several companies in recent years have been replacing their plastic-based caps and closures with metal.
– However, the presence of other closure systems made of plastics, wood, etc. are expected to act as a restraint and challenge the growth of the metal closures market over the forecast period.
– Due to COVID-19, there was a growth in wine consumption frequency with the shift to at-home occasions more than compensating for the loss of on-premise occasion. (As per Wine Intelligence Report). This has further augmented the market growth.
Top Line Market Forecast:
Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Global regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
Browse Complete Report details with Table of Content:
Asia- Pacific to Witness the Fastest Growth
– Asia-Pacific is expected to witness the fastest growth because of the presence of two highly populated countries i.e., China and India. In these two countries, the increase in disposable income will act as a supplement for the growth of the metal caps and closures market.
– According to a study performed by Banco do Nordeste, the alcohol consumption in India was 6.23 billion liters in FY 2019. The consumption is expected to reach 6.53 billion liters in FY 2020. Also, according to the CARE Ratings, from INR 1,475,000 million in 2016, the Indian alcohol market is expected to rise to INR 1,754,000 million by 2021, boosting the country’s alcoholic beverage packaging segment. Moreover, a 7.5% growth rate is expected for the beer market for the next five years in India.
– Also, according to the Craft Brewers Association of India, the number of microbreweries in India has galloped from 20 to 120 in the past five years. Such trends are expected to create significant demand for sustainable packaging solutions in the industry.
– Further, many beer producers in the country are witnessing severe monetary losses during the COVID-19 crisis. For instance, Kimaya Himalayan took a hit of around INR 10 million in April 2020. Also, Mumbai-based Drifter Breweries was forced to dump 2,000 liters of beer. Drifter, which sells through its own outlets or through other restaurants and bars, is struggling to sell as eateries are still shut.
– Moreover, with the vast rise in the demand for packaged foods and beverages and the critical role played by caps and closures in keeping packaged consumables fresh for extended periods are likely to boost the market in these regions.
This Metal Caps And Closures Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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