Technavio Announces the Publication of its Research Report Global Metal Caps and Closures Market 2016-2020
Technavio recognizes the following companies as the key players in the global metal caps and closures market: Crown Holdings, Global Closure Systems, O.Berk, Pelliconi, and Silgan.
Other Prominent Vendors in the market are: Alpha Packaging, Fontana Manufacturers, Guala Closures, Manaksia, Metal Closures, Mocap, Nippon closures, Phoenix closures, Reynold Group Holdings, SMYPC, Sonoco, Technocap, Tri-Sure, and WestRock.
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Commenting on the report, an analyst from Technavios team said: One of the key trends for market growth will be branding through caps and closures. Companies use caps and closures to differentiate their products from those of their competitors. Vendors in this market are manufacturing caps and closures that have visual appeal to help build an identity for their brand. They experiment with different colors and shapes to attract consumers, especially for non-carbonated beverages. As competition in the market intensifies, the importance of branding also increases; companies design customized solutions for clients as it is one of the ways for vendors to make a mark in the market. For instance, for Old Orchard Very Cherre Montmorency Tart Cherry juices, Crown Holdings developed a twist-cap closure consisting of two colors, with product information printed on the skirt of the closure.
According to the report, increased attention on specialty beverages will be a key driver for market growth. Initially, there were only a few beverages available in the market, which included juices, shakes, carbonated soft drinks, coffee, tea, or drinking water. Companies have now introduced specialty beverages like energy drinks, flavored water, and ice-cream drinks. The demand for specialty beverages is increasing day by day and is expected to become a stand-alone product in the market. Even, many restaurants and food stalls have started offering beer on their menus. For instance, Starbucks, Burger King, and Sonic have already started serving beer in the US, while McDonald’s is serving alcohol in some European countries. With people becoming more concerned about their health, consumption of beverages with fruits and vegetables is also expected to rise during the forecast period. These factors have increased the demand for beverages packs in the global market, thereby increasing the demand for metals caps and closures.
Further, the report states that shortage of skilled labor will be a challenge for the market. The micro, medium, and small-scale industries that dominate the global metal caps and closures market focus on lower value-added activities such as conversion, fixing, and manual production of cups and lids. This mainly occurs because these companies do not have skilled workers who can work on the technologically advanced machines used to manufacture caps and closures. Hence, the scope for overall product differentiation is limited and dependent on a handful of large players. As there are few large players in the market, the value addition in the whole process is limited. Also, some materials such as metal are rigid and difficult to cast into different shapes. Hence, making these materials more aesthetically-pleasing from a marketing perspective is limited because workers are not skilled enough to cast them. This is also a major challenge that will hinder the growth of the global caps and closures market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Caps and Closures
Caps and closures provide protection from the external environment and tamper resistance for food and beverages products, pharmaceutical products, and other consumer and industrial goods. Caps and closures aid in the reliable distribution of products in the value chain by providing protection to the product from spilling or getting contaminated. The different types of material used to manufacture cups and lids are plastic, paper and paperboard, metal, foil, and other materials. Some types of caps and closures are lug caps, snap caps, roll-on closures, hinged caps, threaded caps, stoppers, corks, twist-off closures, and canning lids.
Technavios analysts forecast the global metal caps and closures market to grow at a CAGR of 5.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global metal caps and closures market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Metal Caps and Closures Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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