In its new research study named “Heat Induction Cap Liners Market,” FMI has provided crucial insights and produced a revised forecast analysis on the market. The research begins with an introduction of the industrial environment, followed by an examination of market size, by-products, geographies, application forecasts, and vendor and company competition. The study examines market share, demand, growth patterns, and forecasts for the next few years. The research includes unique aspects that could have a significant impact on the industry’s development throughout the projection period. A complete market dashboard is depicted, allowing users to examine detailed information about the study.
The heat induction cap liners market is destined to be worth US$ 1,020 Mn by the year 2030, witnessing a growth rate of 5.5%.
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Some of the leading companies are dedicating their resources towards product development to gain competitive advantage. FMI’s report includes profiles of some of the most prominent names in the market including Tekni-plex, Inc., Selig Group, Bluemay Weston Limited, B&B Cap Liners LLC, Pres-On Corporation, Low’s Capseal Sdn Bhd, Well-Pack, industries Co., Ltd., Tien Lik Cap Seal Sdn. Bhd, Captel International Pvt Ltd., and others.
Heat induction cap liners are integral to packaging designs for bottles and jars. These liners help in preventing leakage, keeping contents inside fresh for a longer period of time. Induction cap liners are manufactured to offer advanced tamper-proof characteristics to packages.
They serve as excellent barriers to leakage, improving the shelf life of product within. These liners can be used in a variety of bottles and jars and are therefore used increasingly across industries such as food and beverages, pharmaceuticals, personal care and cosmetics.
FMI’s study on the heat induction caps liners is intended to discover hidden opportunities within the market. It identifies the most lucrative pockets and warns companies against potential threats. Some of the key takeaways from the report are:
- The heat induction cap liners market is poised to surge at above 5.5% CAGR between 2022 and 2030
- Among materials used, plastic will account for more than half of the market. Paper however will constitute the fastest growing segment
- While demand in pharmaceutical packaging is forecast to surge, the food segment will continue leading the market through the forecast period
- Macroeconomic factors rising willingness to spend and focus on environmental impacts will augur well for the market
- North America is likely to remain a key market through the course of the forecast period
“Rising ecommerce penetration will aid the expansion of the market. The volume of order places online is rising at a staggering pace. Therefore the demand for convenient, flexible, and sustainable packaging is rising. Spurred by the rising focus on online delivery, heat induction cap liners have emerged as an important component to ensure leakage and tamper-proof packaging so that the product within bottles or jars are not damaged during transit,” said a lead analyst at FMI.
COVID-19 Impact on Heat Induction Cap Liners Market
The unprecedented COVID-19 outbreak has halted production across various industries. Complete and partial lockdown orders implemented across the world have caused supply chain disruptions. Most industries will take time to recover their growth pace even after economies attempt to return to normalcy after extended periods of shut down.
On the flip side though the demand for packaged food and drinks has been skyrocketing during COVID-19 especially as consumers show inclination for eating food at home. The demand for food and drinks with longer shelf life is compelling manufacturers to especially focus on packaging. This is fuelling the demand for heat induction cap liners.
Who is winning?
The presence of several regional and unorganized players has rendered the market fragmented. Competition is likely to be fiercer in Asia Pacific since the region witnesses a higher presence of smaller companies.
Big players in the market are therefore focusing on merger and acquisition to expand their global footprint and portfolio. Besides strategic collaborations, the market also exhibits ample scope for research and development.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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