New York, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The Global Market for Aluminum Caps & Closures estimated at US$ 81.214 Bn in the year 2021, is projected to reach a revised size of US$ 125.71 Bn by 2030, growing at a CAGR of 43.8%. as per the latest research report by Spherical Insights & Consulting.
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Better functionality and rising demand for snack foods are two major factors influencing the use of aluminum caps and closures. The product must be protected from dust and other microorganisms and kept fresh at all times with a cap. Consumers are searching for closures that are simple to use, quick to open, and handy. The need for dispensing closures and pump closures is expected to increase across a variety of product categories, including beverages, liquid food products, body care, and cosmetics.
In the coming years, aluminum caps and closures are expected to be in growing market in developing nations like China, India, and Brazil. Positive demographic trends and an increase in average earnings are the key drivers of the growth. Due to changing lifestyles, packaged food products are accounting for a greater portion of consumer spending, and convenience and hygiene are becoming highly sought qualities.
COVID-19 started in Wuhan (China) in December 2019 and has since quickly expanded throughout the world. In terms of confirmed cases and reported deaths, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among of the nations that have been most severely impacted. Due to lockdowns, travel bans, and business closures, the COVID-19 has had an impact on the economies and businesses, including the chemical and material industry, in many different countries. Due to their fear of lockdowns, consumers are panic-buying and stockpiling up in large quantities during a pandemic. Because of this, there is a rise in the need for daily necessities and fresh food through online channels, which raises the need for aluminum caps and closures. Along with this, the demand for domestic necessities, healthcare, and medical supplies is anticipated to rise during the pandemic as customers become more health-conscious and these products are distributed online. As a result, the market for aluminum caps and closures has been significantly impacted by the COVID-19 epidemic.
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The roll-on pilfer-proof closures segment dominated the global aluminum caps & closures market owing to cost-efficient, compatible with the contents, simple to open, capable of providing an effective seal, and compliant with all applicable product, package, and environmental laws and regulations. Aluminum caps and closures in the beverage industry are tamper-resistant, which further aids in combating the problems with counterfeiting. The pharmaceutical segment dominated the global aluminum caps & closures market owing to aluminum caps and closures are used to seal the medications to prevent contamination. To protect the contents from air, dust, and moisture, healthcare supplies must be packaged with the highest care. Asia Pacific region is dominating the market share of global Aluminum Caps & Closures market owing due to urbanization, industrialization, and rising population all contribute to the market's expansion for aluminum caps and closures.
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Browse key industry insights spread across 190 pages with 116 market data tables and figures & charts from the report “Global Aluminum Caps & Closures Market Size, Share & Trends, COVID-19 Impact Analysis Report, by Product Type (Roll-on pilfer-proof caps, Easy open end lids, Non-refillable closures), End-Use Sector (Beverage, Pharmaceutical, Food, Home & personal care): By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030”, in detail along with the table of contents
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Key Companies & Recent Developments
Amcor purchased Bemis Company Inc. in June 2019. The new name of the business will be Amcor Plc (Amcor). The addition of scale, skills, and footprint from the purchase of Bemis has enhanced. The major companies profiled in this report include Alameda Packaging, Alcopack Group, Alutop, Alupac India, Cap & Seal Pvt. Ltd., Amcor, Dyzdn Metal Packaging, Closure Systems International, EMA Pharmaceuticals, Crown Holdings amongst others.
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