Published on : Aug 20, 2018
Albany, New York, August 20, 2018: Presently, the growing demand for effective packaging to ensure the longer shelf life of food and beverages is acknowledged as a key factor driving the metal caps and closures market. To analyze the implications of recent trends and developments on the growth of metal caps and closures market for future, Market Research Hub (MRH) has added a new research report titled, “Metal Caps and Closures Market - Global Industry and Opportunity Assessment 2018 – 2026” to its vast database. With an extensive nine-year forecast of 2018-2026, this 177-page study provides a complete outlook on the market’s growth in terms of value (in US$ Mn) and CAGR across global as well as key regional markets.
Geographically, the research highlights market spread across regions including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). To show the performance of the metal caps and closures market in each country and region, BPS and Y-o-Y growth analysis are provided. According to the study findings, the global market for metal caps and closures was valued at US$ 19,064.4 Mn in 2017. The market is forecast to expand at a CAGR of 3.9% during the forecast period, 2018-2026.
Metal caps and closures are used in the packaging of beer, wine and spirits especially crown and screw caps. These solutions ensure the longer shelf life of food and beverage products. Also, it offers stability and rigidity while conveying a superior product image. It has been analyzed that the ability to decorate metal caps and closures with logos or other designs offers a tool for advertising the distinct brand, and in turn, boosts demand for metal caps and closures. They have wide application including packaging of pharmaceuticals and cosmetic & personal care. Rising demand for liquid medicines is a key factor leading to the growth of the metal caps and closures market.
On the basis of geography, analyst reveals that the U.S metal caps and closures market is expected to grow at a CAGR of 1.4% over the forecast period. Moreover, a major fact observed during the research is that the growth in international trade of food & beverage can highly attribute to the rising demand for effective packaging solutions, such as metal caps and closures. As the report moves ahead, the market has been categorized into closure type, material and end-use. By closure type, it covers crown, screw caps, car ends and others. By material type, it covers aluminum, steel and tin plate.
Another important component of the market is the competitive landscape. It briefs a profile of all the companies that are currently leading in the market or the ones that are expected to rule in the upcoming years. At present, key players operating in the global market for metal caps and closures include Amcor Ltd, Sonoco Products Company, Guala Closures Group, Crown Holdings Inc., CL Smith Company Nippon Closures Co. Ltd, O Berk Company, Manaksia Industry Ltd., Pelliconi & C. SPA, and Closure Systems Internatio
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