Metal Caps and Closures Market

SKU: DMPAC2622 | Last Updated On: Oct 11 2022 | Available Formats

> Global Metal Caps and Closures Market Expected to reach a high CAGR of 5.1% By 2029: DataM Intelligence

Global Metal Caps and Closures Market is segmented By Material (Aluminum, Steel, Tinplate), By Product Type (Crown Metal Caps, Twist Metal Caps, ROPP Metal Caps, Screw Metal Caps, Roll Metal Caps, Others), By Application (Alcoholic Beverages, Food, Pharmaceutical, Cosmetics, Chemicals, Others), By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Metal Caps and Closures Market is expected to grow at a CAGR of 5.1% during the forecasting period (2022-2029). 

Metal Caps and Closures Market - Strategic Insights

Metrics

Details

Market CAGR

5.1%

Segments Covered

By Material, By Product Type, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Caps and closures are made from materials such as plastics, metals, wood, rubber, etc. and are one of the packaging solutions provided to a variety of industries, including food and beverage, pharmaceuticals, cosmetics, paints, and lubricants, which are mainly involved in the packaging of their products in plastic or glass bottles and jars. Materials used in the production of metal caps include steel, tin plate, and aluminum.  All these materials help to ensure the quality of the goods during storage and transport. Due to the vast penetration of metal closures across several industrial verticals, demand for metal closures is expected during the forecast period to witness a burgeoning development. In addition, the rise in wine consumption would give the metal caps and closures industry a huge opportunity due to the advantages of metal caps and closures.

Market Dynamics:

The surging demand for packaged food and beverages

The increasing sales of packaged food and beverage products are one of the major factors that drive the metal caps and closure market as the main motive of the packaging industry is to preserve food and beverage's flavor, texture, test, and extend the shelf-life of it. The rising health concerns, interest in ready-to-eat products, increasing income levels, and rising living standards are the major factors driving the sales of packaged food and beverages. Metal caps and closures help in the process to extend the shelf-life of products and provide a barrier to dirt, moisture, and oxygen. As metal caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing, the growth in the packaging industry is expected to drive the metal caps and closures market.

In addition, increasing wine consumption among consumers is driven by the health and wellness trend, which further drives the metal caps and closures market.  Modern-day consumers are aware of the production and origin methods of wine, thus increasingly favoring organic wines as a symbol of higher quality. The packaging of organic wines, therefore, includes metal caps, and these metal caps with plastic interiors provide a very tight seal over the bottle’s entire mouth and neck, keeping the freshness intact.  Furthermore, the growing demand for wine among millennials is expected to drive the metal caps and closures market. According to the 2022 State of Wine Industry Report, the consumption of wine among millennials increased from 18% in 2019 to 20% in 2020. A wine bottle with a screw metal cap is very easy to cap because it can achieve a tight seal that keeps oxygen out for a long time. A metal screw cap is also easy to remove and reclose. The above factors are therefore expected to improve the wine industry which in return will help boom the metal caps and closures market.

Market Segmentation

The Global Beverage Caps and Closures market has dominated the market and is expected to grow significantly

The growing popularity of beverages such as packaged juices, alcoholic drinks, and energy drinks is likely to speed up market growth in the coming years. In addition, the rise in the international food and beverage trade can contribute prominently to the growing demand for effective packaging solutions, such as metal caps and closures. These solutions ensure that food and beverage items have a longer shelf life.

Moreover, metal caps and closures are predominantly used in the pharmaceutical sector as they are sterile and are generally composed of layered material. Metals caps made of steel and aluminum are mostly used in the sector. Besides, aluminum can be highly customizable: natural or colored, plain or embossed. Thus, pharmaceutical packaging can be supplied according to the consumers’ needs. The rapidly growing pharmaceutical production and the regulatory changes further favor child-resistant, value-added, and senior-friendly closures, which are anticipated to drive the market in the foreseen period. The World Health Organization (WHO) recently estimated that one-third of all medicines sold worldwide are illegitimate. The increasing risks from falsified drugs are creating the need for efficient anti-counterfeiting solutions boosting the adoption of anti-counterfeiting closures.

Geographical Penetration

The Asia Pacific is expected to have the largest market share and dominate the metal caps & closures market from 2020 to 2029.

Asia Pacific accounted for the largest market revenue share of 42% in the year 2020 and is expected to remain dominant over the forecast period with a market revenue share of XX% in the year 2029. China dominated the metal caps and closures market in the Asia Pacific. This is due to the increasing application of metal caps and closures in the wine industry. The rise in wine consumption would give the China metal caps and closures market a huge opportunity due to the advantages of metal caps and closures. In 2019, the Chinese population consumed approximately 1.78 billion liters of wine, making China the fifth leading wine consumer worldwide. The Craft Brewers Association of India also estimated that the number of microbreweries in India has risen from 20 to 120 in the last five years. As a result of these trends, the industry is expected to see a major increase in demand for sustainable packaging solutions, which further contributed to the growth of metal caps and closures in the Asia Pacific region.

Competitive Landscape

In terms of product differentiation, portfolio, and pricing, there is fierce competition in the industry

The global metal caps and closures market players are witnessing high competition with the presence of several local and international players Nippon Closures Co., Ltd., Reynolds Consumer Products Inc., Sonoco Products Company, Guala Closures Group, and Crown Holdings, Inc. are the leading market players with a market share of 44.22%, 11.89%, 8.50%, 7.79%, and 5.81% respectively. In terms of product differentiation, portfolio, and pricing, there is fierce competition in the industry. Metal caps and closures will become more popular in the beverage segment as demand for value-added closures and tamper resistance properties increases. These companies have used various strategies such as expansions, new product launches, agreements, partnerships, joint ventures, acquisitions, and others to increase their footprints in this market. For instance, in April 2019, Tapì and Thinfilm developed smart closures that tackled counterfeiting in the wine and spirits industry. If a closure seal was broken, the OpenSense solution used detects and warns the user that the jar or bottle may have been tampered with. In February 2020, Guala Closures S.pA. completed the acquisition of Closurelogic Gmbh, a Germany-based manufacturer of aluminum closures. 

COVID-19 Impact: Pandemic had a dual impact on global metal caps and the closures of market

The uncertainty surrounding the situation resulted in consumers engaging in impulse buying and stockpiling groceries, essential products, handwash liquids, and hand sanitizers. The high demand for handwash liquids and hand sanitizers has contributed to the positive influence on the metal caps and closures market. However, the production disruptions during the hard-hit period of the pandemic do not pose a considerable impact owing to unaffected demand from a few end-use industries like pharma. But the demand plunged for the food and beverage industries. Also, the available stocks and upsurge in domestic production are likely to offset the supply shortages caused by the import restrictions, thereby ensuring continuous availability to the various end users.

Frequently Asked Questions

What is the Projected CAGR value of the Metal Caps and Closures Market?

Metal Caps and Closures Market is expected to grow at a CAGR of 5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Metal Caps and Closures Market during 2022-2029.

Which is the fastest growing region in the Metal Caps and Closures Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period .

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