Aluminum Caps & Closures Market worth $7.6 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 30, 2020 /PRNewswire/ -- According to the new market research report "Aluminum Caps & Closures Market by Product Type (Roll-on pilfer-proof caps, Easy open end lids, Non-refillable closures), End-Use Sector (Beverage, Pharmaceutical, Food, Home & personal care), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Aluminum Caps & Closures Market size is projected to grow from USD 6.2 billion in 2020 to USD 7.6 billion by 2025, at a CAGR of 3.9% between 2020 and 2025.
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Aluminum caps & closures are used to seal contents within containers, safeguard the packaged product, and to extend the shelf life of the product. The aluminum caps & closures industry is witnessing high growth because of the increasing demand for convenience food by consumers and concerns about food product safety. Product differentiation and branding are also possible using aluminum caps & closures. The aluminum caps & closures market is segmented based on product type, end-use sector, and region. The growth of aluminum caps & closures has been witnessed due to the growth in the pharmaceutical, beverage, food, cosmetics & toiletries, liquid fertilizers, and oil industries; another factor is the growing trend of replacing conventional packing products such as cork and rubber closures with aluminum caps & closures.
In terms of value, the roll-on pilfer-proof segment is projected to account for the largest share of the Aluminum Caps & Closures Market, by product type, during the forecast period.
Roll-on pilfer-proof (ROPP) caps are among the most widely used seals for various jars, tubes, and bottles. It is a cap with a thread on its internal surface that engages with the corresponding thread on the outside of the glass, plastic, or metal container. It provides an effective seal, which can be easily opened and is re-closable.
The pharmaceutical industry is projected to register the highest CAGR during the forecast period.
It is very important to maintain the quality of pharmaceutical products during the manufacturing process. Pharmaceutical products can be contaminated through air particles, dust, and microorganisms. To avoid contamination, aluminum caps & closures are used to seal the medicines in the pharmaceutical industry. The packaging of healthcare products is of utmost importance to protect the contents from air, dust, and moisture. An increase in chronic ailments, an increase in the aging population, and a rise in disposable income in developing nations drive the demand for healthcare products, thereby driving the demand for aluminum caps & closures.
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The APAC region leads the Aluminum Caps & Closures Market in terms of volume.
APAC is projected to be the fastest-growing market for aluminum caps & closures during the forecast period. Convenience food demanded by consumers, concerns about product safety & security, demand for smaller pack sizes, and the need to avoid the contamination of the packaged food are some of the major reasons that could drive the aluminum caps & closures market in the region. However, innovation in the industry, substitute products, and stringent environmental regulations are some of the major restraining and challenging factors in this market.
Major players operating in the global aluminum caps & closures market includeCrown Holdings, Inc. (US), Silgan Holdings. (US), Amcor (Australia), Guala Closure (Luxembourg), Alcopack (Germany), Herti JSC (Bulgaria), Torrent Closures (Spain), Cap & Seal Pvt Ltd (India), and Federfin Tech S.R.L (Italy) are the leading players in the aluminum caps & closures market. Other players include Osias Berk (US), ITC Packaging (US), DYZDN Metal Packaging (China), ShangyuSanyou Electro-Chemical Aluminium Products (China), Alameda Packaging (US), EMA Pharmaceuticals (France), Alupac-India (India), Alutop (India), Helicap Closures (China), and Manaksia Limited (India).
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