The global metal closures market exhibited a noteworthy valuation of approximately US$ 26.8 billion in 2021, and it is poised to reach a valuation of around US$ 28.4 billion in 2022. Moreover, with the increasing adoption of metal closures across diverse industries, including food and beverages, consumer goods, cosmetics and personal care, and pharmaceuticals, the overall demand for metal closures is expected to maintain a robust Compound Annual Growth Rate (CAGR) of 6% during the period spanning from 2022 to 2032. By the year 2032, the market is forecasted to achieve an impressive valuation of approximately US$ 50.8 billion.
Metal closures represent a distinct category of packaging solutions crafted from materials such as aluminum, tin, copper, and stainless steel. Typically, these closures are paired with glass or plastic containers, offering a versatile sealing and protective option. One of their notable features is their exceptional temperature tolerance, which imparts durability and renders them an appealing alternative to plastic closures.
In recent times, metal closures have gained widespread trust and adoption as a dependable means of safeguarding various goods, including food products, beverages, pharmaceuticals, and cosmetics. The escalating utilization of metal closures in packaging these diverse product categories is poised to act as a driving force behind the sustained growth in the global metal closures market throughout the forecast period.
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Key Trends Driving the Global Metal Closures Market
“Increasing Demand for Packaged Food & Beverages Spurring Market Growth”
Within the packaging industry, the paramount objective is to preserve the flavor, texture, and overall quality of food and beverage products, while simultaneously extending their shelf life. The surging sales of packaged food and beverage items represent a pivotal driver propelling the growth of the metal closures market.
Several key factors influence the sales of packaged food and beverages, including mounting concerns related to health and well-being, the growing demand for ready-to-eat meal options, rising income levels, and elevated living standards. Metal closures play a pivotal role in enhancing the longevity of these products, acting as a formidable barrier against external elements such as dust, moisture, and oxygen. As the packaging sector continues to expand, the metal closures market is poised to benefit significantly, as these closures represent the final line of defense in preserving the integrity of the packaged goods.
Market Drivers:
- Consumer Preference for Secure Packaging: Metal closures are preferred for their tamper-evident and secure sealing properties, making them suitable for products like beverages, pharmaceuticals, and cosmetics.
- Food and Beverage Industry Growth: The growth of the food and beverage industry, including the demand for bottled beverages and canned foods, drives the need for metal closures.
- Recyclability and Sustainability: Metal closures are recyclable and align with sustainability goals, attracting environmentally-conscious consumers and brands.
- Long Shelf Life: Metal closures provide an effective barrier against external factors, helping to extend the shelf life of products, particularly in the food and pharmaceutical sectors.
- Brand Differentiation: Customizable metal closures allow brands to differentiate their products, enhance visibility, and reinforce brand identity on store shelves.
- Emerging Markets: Rising consumer income levels in emerging markets have led to increased consumption of packaged products, boosting the demand for metal closures.
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Key Players
- Amcor Plc
- Oberk
- Tri-Sure packaging
- Silgan Containers LLC
- Actega
- P. Wilkinson Containers Ltd.
- Metal Closures Pvt. Ltd
- Kotopack
- Canpack
- Roberts Metal Packaging
- SACMI
- Viscose Closures Ltd.
- Hercules Sdn Bhd
- Peliconi & C
- Sks Bottle & Packaging Inc.
- Closure Systems International
Market by Segmentation
By Material Type:
- Aluminum
- Tin
- Stainless Steel
- Copper
By Production Process:
- Injection Molding
- Compression Molding
By End Use:
- Food & Beverages
- Consumer Goods
- Personal Care & Cosmetics
- Homecare
- Pharmaceuticals
- Others (Chemical, Agro Products, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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