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In 2019, the Global Aluminum Caps & Closures Market was valued approximately US$ 5.60 Bn, and it is anticipated to witness a moderate CAGR during the forecast (2020-2028).
The rising concerns for product security and safety along with growing demand for convenient packaging solutions are expected to boost the growth of the market. Emergence of small pack sizes and growing need for branding 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. Moreover, improvement in shelf life of the product is one of the factors that boost the growth of aluminum caps and closures market.
Rising disposable income along with high growth in beverage market in emerging countries of Asia Pacific including China, India, Indonesia are expected to enhance the market demand during the forecast period. Rising technological advancements in the industry is another prominent factor anticipated to drive the market growth over the forecast period.
By Product Type, Roll-on pilfer-proof caps segment is projected to expand with the highest CAGR in the Global Aluminum Caps & Closures Market
Roll-on pilfer-proof caps accounted for the highest share of XX% in Global Aluminum Caps & Closures Market in 2019.
The roll-on pilfer-proof caps segment contributed to significant share in the market in 2019 and is expected to grow at the highest CAGR over the forecast period. The segment has the largest share owing to a wide application in pharmaceutical and food & beverage industry. ROPP caps have numerous benefits such as tamper-evident, cost-effective and others that are expected to support the segment growth in years to come. The ROPP caps provide more space for graphics, logos, and other design features owing to which the aforementioned caps preferred by packaging manufacturers. As a result of the abovementioned factors, the segment is anticipated to continue its dominance during the forecast period.
By End-use, Beverage segment is projected to expand with a rapid pace in the Global Aluminum Caps & Closures Market
By End-use, Beverage is expected to witness the fastest CAGR in the Global Aluminum Caps & Closures Market over the forecast period
In 2019, the beverage segment contributed to key share in the global 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.
Growth prospects of Aluminum Caps & Closures are high in Asia Pacific
In 2019, Asia Pacific dominated the global aluminum caps & closures market. Improved economic conditions and growth of the beverage market 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 increase in population and positive economic outlook are some other factors anticipated to support the regional growth. China and India are projected to be the major contributors in growth of Asia Pacific in years to come. Therefore, Asia Pacific is expected to show the highest CAGR and anticipated to continue its dominance throughout the forecast period.
North America had accounted for a significant share in the global market in 2019. The growth of the beverage and healthcare industry in the region is expected to drive the market substantially in North America. Developed industries and early technological adoption are some other factors projected to enhance the regional growth in years to come.
Global Aluminum Caps & Closures Market is very competitive with presence of a large number of global and local/regional manufacturers. Federfin Tech S.R.L, Alameda Packaging, Crown Holding, Cap & Seal Pvt. Ltd, J.G. Finneran Associates, Silgan Holdings, Shangyu Sanyou Electro-Chemical Aluminum Products, Torrent Closures, Amcor, Herti JSC, Guala Closures, Alcopack Group, United Closure, Closure Systems International, Osias Berk Company, and Dyzdn Metal Packaging, are some key players operating at regional as well as country level. Geographical expansion and mergers & acquisitions are projected to be the key strategies for major players.
By Product Type:
- Roll-on pilfer-proof caps
- Easy-open can ends
- Others (Peel-Off Foils, Spout Closures, And Closure Strips)
- Home & personal care
- Others (chemical and automotive)
- North America
- Latin America
- Asia Pacific
- Middle East and Africa