Monday, 16 January 2023 08:15 PM
Company Update
NEWARK, DE / ACCESSWIRE / January 16, 2023 / As per Future Market Insights (FMI), sales in the global twist caps market are likely to surpass US$ 4.2 Bn by 2033. The market is projected to be valued at US$ 2.6 Bn by the end of 2023 and exhibit a steady CAGR of 4.9% throughout the estimated time frame (2023-2033).
The cosmetics market has been significantly growing in recent times, and many new brands are coming into the market & capturing the beauty products sector. Increased consumption and application of cosmetic products is helping the twist caps market to grow.
Beauty brands are also designing new types of packaging as aesthetics has become one of the most important parts of product marketing. Also, manufacturers need to assure that the packaged cosmetic product is well preserved and in a good condition so they are majorly focusing on their packaging. Booming Cosmetics Industry Spurs Adoption of Aesthetically Pleasing Packaging, Positioning Twist Caps Market to US$ 4.2 Bn by 2033.
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Along with aesthetics, convenience to open and close the container is of utmost importance for successful packaging solutions. Twist caps provide the convenience to handle cosmetics products so that they are majorly accepted by consumers.
In the past few years, cosmetics and personal care products have gained immense popularity due to social media. Numerous brands are focusing on product quality, as well as the packaging of their products to generate high shares.
Twist caps application in the cosmetics and personal care industry is currently limited to a few products. But the industry is set to showcase a lot of potentials to explore the twist caps market. Owing to these aforementioned factors, the cosmetic industry is expected to boost twist caps sales.
Key Takeaways from the Twist Caps Market
- Based on end use, the food category is anticipated to dominate the global twist caps market in the next ten years.
- Top 3 countries in the global twist caps market are estimated to hold a share of nearly 30% to 35% in 2023.
- Top 5 twist caps manufacturers captured a market share of approximately 15%-20% in 2022.
- During the historical period from 2018 to 2022, the global twist caps market showcased a CAGR of 4.5%.
- The U.S. twist caps market is likely to capture nearly 4/5th portion of North America till 2023.
"Growing demand for well-preserved and safe product packaging along with the convenience to use and aesthetic appeal is instigating sales of twist caps among various brands. Also, recyclability feature offered by metal twist caps would create new growth opportunities due to rising sustainability concerns." - says an FMI analyst.
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Rising Number of New Drink Brands and Preference for Sustainable Packaging to Boost Sales of Twist Caps
Twist caps have a huge application in the beverage industry and these caps are used for sealing water bottles, soft drink bottles, as well as alcoholic drinks. Many brands are coming up with new alcoholic and non-alcoholic drinks, which would create various growth opportunities for companies present in the twist caps market.
These drinks are packaged in glass bottles, metal cans, or plastic bottles. Thus, they need a vacuum sealing for preserving the drink and maintaining their temperature. Along with the quality of the product, packaging of these drinks is very important.
Various types of twist caps are available in the market such as regular with step, deep step open, medium twist open, and twist with safety button to suit the application as per changing needs. Consumer demand is also changing and due to these factors, various brands are adopting twist open caps as a closure for drink containers.
Moreover, twist caps made from steel, tin, and any other PVC-free materials are gaining traction in the market due to their recycling ability and eco-friendly nature as consumers are preferring sustainable packaging. Properly sealed cap is required for containers to package the product and thus twist caps are creating new growth opportunities for manufacturers.
Competition Landscape: Twist Caps Market
Silgan Closures GmbH, TOKK Company, Nippon Closures Co., Ltd., Massilly Holding S.A.S, Tecnocap S.p.A., D PLAST a.s, Gebrüder Leonhardt GmbH & Co. KG, and Blema Kircheis are the major players operating in the global twist caps market. Also, some of the other noticeable players in the market include Samhwa Crown & Closure, Elmoris, Jsc, Indo Cap Closures, Caps & Closures, AAPL Solutions, and Xuzhou Xinyu Glass Products Co., Ltd. among others.
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Twist Caps Market Outlook by Category
By Material:
- Plastic
- Metal
By Diameter:
- Less than 30 mm
- 30 to 45 mm
- 45 to 60 mm
- 60 to 85 mm
- More than 85 mm
By End Use:
- Food
- Beverage
- Chemical & Fertilizer
- Pharmaceutical
- Cosmetics & Personal Care
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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SOURCE: Future Market Insights, Inc.