Growing demand for convenient packaging and bottle opening solutions is projected to be a key factor driving global demand for ring pull caps
The ring pull cap is convenient for opening bottles, cans and cans by simply pulling the ring on the top of the product. This also eliminates the requirement of an opener that was traditionally required to open the crown cap.
In addition, the ability of ring pull caps to maintain high pressure of carbonated and non-carbonated beverages will further drive the global ring pull cap market . The global ring pool cap is projected to reach a market value of $480.8 million by 2028, expanding at a steady CAGR of 5.1% during the evaluation period 2022-2028, according to a recent market study by Future Market Insights.
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Aluminum remains the most preferred material. Growing demand for tin-free ring pull caps to drive the market
Ring pull caps made of aluminum are likely to capture a major market share, while steel ring pull caps are expected to witness higher growth during the forecast period, mainly owing to the demand for chrome plated steel caps or tin-free caps. The low price and blocking properties of aluminum caps are some of the key factors driving the adoption of aluminum ring pull caps. In terms of end use, the beer industry is expected to witness the highest adoption of ring full caps, creating the highest incremental opportunity, followed by soft drinks. Functional beverage, fruit juice, cider, spirits and wine manufacturers are increasingly favoring ring pull caps for glass bottles due to the growing demand for convenience.
Steel is usually tin coated to prevent corrosion. The chromium oxide coating gradually replaces the tin coating on the steel, making the tin-free steel very suitable for adhesion of coatings, inks and paints, further improving the printability of the ring pull cap. Growing demand for tin-free ring pull caps due to relatively low manufacturing costs will likely push the global market for ring pull caps.
APEJ’s Beer Production Increases to Open Opportunities for Ring Pull Cap Manufacturers
According to a recently concluded market analysis, APEJ and the developing countries of Latin America are expected to provide investment opportunities for ring full cap manufacturers due to the rapid production of beer in the past decade in the aforementioned regions.
Since 2006, Vietnam’s beer production has grown by more than 200%. On the other hand, major market players are focusing on expanding production, given that the APEJ region produces nearly one-third of total beer production worldwide .
On the other hand, declines in beer production in North America, Japan and some European countries have further impacted the production of ring full caps.
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Design enhancements for adoption of additional fuel ring pull caps
Advances in designs such as tin-free caps and crown-type ring pull caps will further contribute to increasing demand for ring pull caps worldwide.
To attract more end consumers, major market players strive to improve the overall design of ring pull caps, leading to chrome plated ring pull caps, metal caps with plastic rings to reduce the overall weight of the caps, and crown type ring pull caps. are doing A ring firmly attached to the top of the cap, an oxygen scavenger for long-term preservation of alcoholic beverages.
Additionally, the focus on enhancing other aesthetics using advanced metal printing technologies such as flexo offset hybrid printing is creating more opportunities in the global ring pull cap market. Inefficient design, including ring diameter and strength, can restrain the growth of the ring pull cap market.
In a recent report, Future Market Insights also introduced the key players in the global Ring Pull Caps market. For an extensive analysis of the competitive landscape, please email press@futuremarketinsights.com.
About Future Market Insights Packaging
FMI’s Packaging Division provides in-depth historical analysis and detailed forecasts of the global packaging market. From packaging materials to designs and formats, FMI has an exhaustive market research database, providing unique offers and strategic recommendations to its clients. With a repository of more than 750 reports, the team comprehensively analyzed the packaging industry in more than 70 countries. The team evaluates every node in the value chain and provides end-to-end research and consulting services. Contact us to find out how we can help