Metal Caps and Closures Market Projected to Reach US$ 17.2 Billion by 2030: Reports and Insights Study Reveals Key Players Including Crown Holdings, Sonoco Products, and Guala Closure Group
Reports and Insights has published a new report titled, “Metal Caps and Closures Market: Opportunity Analysis and Future Assessment 2023-2031” analyzed By Product Type (Crowns, Screw Caps, Can Ends, Others), By Material Type (Steel, Aluminum, Tin), By End Use (Food (Dairy Products, Meat, Poultry, and Seafood, Ready-to-eat Food, Others), Beverage (Alcoholic, Non-alcoholic), Pharmaceuticals, Personal Care) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The metal caps and closures market is estimated to reach at a value of US$ 12.2 Bn by the end of 2022 and expected to reach at a value of US$ 17.2 Bn by 2030 with a significant CAGR of 4.4%.
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Metal caps and closures can be perceived as one of the packaging solutions extensively used across various industries worldwide, including food and beverage, pharmaceuticals, cosmetics, paints, and lubricants, which are mainly concerned with the packaging of their products in plastic or glass jars and bottles. The metal caps and closures are mainly made from materials such as metals, plastics, rubber, wood, among others, which facilitate in ensuring the quality of the goods during transport and storage.
The rapidly evolving food & beverages industry, in the present times, along with the soaring sales of packaged food and beverage products is majorly elevating the demand for metal caps and closures owing to its protective properties, thereby projected to propel the growth of the global metal caps and closures market in the forthcoming years.
In the same way, the growing usage of metal caps and closure in the personal care industry on account of its exclusive attributes of elongating shelf life of products is further projected to offer significant growth to the market in the near future.
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Be that as it may, the handiness of replacement caps and closure which is much more affordable is estimated to slow down the growth of metal caps and closures market over the years. Nonetheless, the swift advent of reusable caps and closure across the global markets is anticipated to offer lucrative opportunities for the market players in the coming years.
Furthermore, the stringent regulations by the FDA, CPSC, and ISO, among others, have been influential in accelerating the product innovation and sophistication across the food & beverage, pharmaceutical, and cosmetic industries. Therefore, the global metal caps and closures market is projected to witness considerable growth over the forecast period.
Reports and Insights Study identifies some of the key participating players in the metal caps and closures market globally are Crown Holdings, Inc., Sonoco Products Company, Guala Closure Group, Amcor Limited, Nippon Closures Co. Ltd, O Berk Company, LLC, Manaksia Industry Ltd., Pelliconi & C. SPA, CL Smith Company, Closure Systems International, among others.
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