The global overcaps market is estimated to reach at a high CAGR of 4.6 % during the forecast period (2022-2029).
Dispensing solutions play a significant role in providing consumers with a safe, convenient and aesthetic experience with their favourite products and brands. Overcaps are used primarily for aerosol packaging. An aerosol container or package, usually a metal can or plastic bottle, is designed to dispense its liquid contents as a mist or foam.
Overcaps prevent the actuator of the aerosol container from pushing may lead to a spill or spraying and prevent wastage. Moreover, non-aerosol over caps fit plastic bottles for sprayer pumps and are used to measure liquids.
The growing demand for rigid packaging and increasing application of aerosols in various industries such as cosmetics, pharmaceuticals, automotive are driving the over caps market.
The global over caps market growth is driven by the growth of the cosmetic & personal care industry, convenience in terms of shapes & sizes and product appeal.
Growth of the cosmetic & personal care industry is driving the over caps market
As per the United Nations Department of Economics and Social Affairs, the world's young population aged between 15 and 25 years was around 1.2 billion in 2019, 16% of the total population. Moreover, it is anticipated that the world's youth population will reach 1.4 billion around 2026. The younger population comprises lucrative demography for the cosmetics and personal care industry. The rise in their population will subsequently increase cosmetics and personal care products that use aerosol packaging.
According to Cosmetic Europe, a European Personal Care Association for the cosmetics and personal care industry, 72% of customers feel that cosmetics and personal care products improve their quality of life, whereas 80% of customers identify cosmetics and personal care products self-esteem.
Moreover, increasing demand for more sustainable packaging, to the desire for more diverse and multi-functional product offerings, drives the market of overcaps in the personal care & cosmetics industry. For instance, recently, on 21st June 2021, LINDAL Group, an aerosol dispensing leader, launched Flip440, a new spray head with an attached hinged overcap, to ensure that the cap does not get lost when the product is in use.
Eliminating the need for overcaps in products is expected to hinder the market
Nowadays, some companies are into eliminating the need for over caps in their products to save material, costs and increase concern about sustainability and the environment.
For instance, the latest development from Lindal Group is looking to rid sun care and antiperspirants products of over caps and use less material with its new twist and lock actuator. Linder group launched Twist-Lock that can be locked to protect the formulation and therefore needs no overcap. It offers new opportunities for deodorants, sun care products, antiperspirants and others.
Aerosol over caps is to dominate the market owing to its high demand in several end-user industries including personal care & cosmetics, automotive, automotive and paints.
Aerosol cans are a self-contained dispensing system where a substance is stored inside a small metal canister and pushed out as a fine mist, a spray, or a foam. According to a report published by the International Organization of Aluminium Aerosol Container Manufacturers (AEROBAL), the aerosol can market witnessed three per cent year-on-year growth and production of about 5.5 billion aluminum cans globally in 2016. These cans are consumer-friendly and provide high standards of hygiene and safety.
A major quantity of aerosols can go to the cosmetic market, followed by pharmaceutical, industrial and other sectors. The cosmetic applications include packaging of Perfumes & Health Hygiene products such as body deodorants, perfume sprays, room fresheners, shaving foams, hair colors, and several others.
Moreover, recent innovations and product launches also cater to the demand for aerosol over caps. For instance, recently, on 21st June 2021, LINDAL Group, an aerosol dispensing leader, launched Flip440, a new spray head with an attached hinged overcap, to ensure that the cap does not get lost when the product is in use.
North America region holds the largest market for the global over caps market
North America dominates the market regions and is expected to register a healthy CAGR over the forecast period. The global market for over caps is primarily driven by personal care & cosmetics and the food & beverage industries. Lucrative growth opportunities and increasing demand for consumer goods are anticipated to favour the market in the region. In addition, increasing consumer spending in emerging economies such as the U.S and Canada boosts the demand for aerosol in personal care, automotive, and paints.
Moreover, with the growing demand, leading players have been strengthening their market position with expansions and acquisitions. For instance, on 17 February 2020, Silgan Holdings, a U.S. rigid packaging for consumer goods products, acquired aerosol overcap manufacturer Cobra Plastics. The acquisition of Cobra Plastics expands the product offering of the global closures franchise into various new markets and applications.
The Overcaps market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Berry Global, O.Berk, Huhtamaki, Clayton Corp., AptarGroup, Inc., IPL, inc., Precision Valve Corporation., COBRA PLASTICS, Dubuque Plastics, IntraPac International LLC, Rieke among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the over caps market globally.
Berry Global, Inc
Overview: Berry Global, Inc is a multinational, U.S-based company specializing in the manufacturing and marketing of plastic packaging products. The company is headquartered in Evansville, Indiana, U.S.
Product Portfolio: Berry Global, Inc offers seven types of over caps for aerosol and non-aerosol packaging. These are Aluminum Can Overcaps, Ball G3-HD Overcaps, DS Container Overcaps, Necked-in Overcaps, Non-Aerosol Overcaps, Sexton Overcaps and Straight Wall Overcaps.
The global over caps market report would provide an access to an approx. 77 market data tables, 73 figures and 180 pages.
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