The global twist dispensing closures market is poised for substantial growth, currently valued at USD 65 billion in 2022 and projected to reach USD 117 billion by 2032. The market is anticipated to record a strong CAGR of 5.5% during the forecast period.
Key Drivers of Market Growth
- Ease of Use:
- Convenience: Twist dispensing closures are favored for their ease of opening and closing without applying excessive pressure, which enhances user experience and drives their adoption across various sectors.
- Demand in the Beverage Industry:
- Smaller Bottles: The growing demand for smaller bottles in the beverage industry is contributing to the rise in sales of twist dispensing closures. These closures offer a practical and efficient solution for packaging a range of beverages.
- Innovation and Creativity:
- New Developments: Recent innovations in twist dispensing closures, including easier-to-open designs, headstand packs, flow control features, and clean dispensing technology, have boosted market interest and encouraged creativity in packaging solutions.
- Increased Consumption:
- Broad Applications: The surge in consumption of food, chemicals, and household products is further propelling the demand for twist dispensing closures. Their versatility and effectiveness in various applications enhance their market appeal.
Increased Consumption Boosts Demand
The report also identifies the growing consumption of various products as a key driver:
- Food & Beverage: Rising demand for packaged food and beverages is translating into a higher demand for twist dispensing closures, which offer enhanced convenience and portion control.
- Household & Chemical Products: The increasing use of household and chemical products packaged with twist dispensing closures is contributing to market growth.
Lightweight and Cost-Effective Solutions
The report explores the economic benefits of twist dispensing closures:
- Lightweight Trend: The lightweight nature of twist dispensing closures aligns perfectly with the ongoing trend towards sustainable packaging.
- Cost-Effectiveness: Compared to other closure options, twist dispensing closures are generally less expensive due to their simpler design and reduced material usage (elimination of liners). This translates to cost savings of around 10-15% for manufacturers.
Sustainability Initiatives Pave the Way
The report acknowledges the focus on sustainability within the industry:
- Material Savings: The use of less material in twist dispensing closures benefits both manufacturers and the environment.
- Sustainability Awards: Initiatives like Silgan’s closure facility receiving the Illinois Governor’s Sustainability Award in 2017 for waste reduction exemplify the industry’s commitment to sustainable practices.
Regional Growth Potential
The report examines the growth potential across different regions:
- North America: The United States is expected to remain the dominant market in North America due to its established infrastructure and high consumer preference for convenience.
- Asia Pacific: China and India are anticipated to witness significant growth due to the rising demand for convenient packaging solutions in these rapidly developing economies.
A Promising Future for Twist Dispensing Closures
With their focus on convenience, cost-effectiveness, and sustainability, twist dispensing closures are poised to maintain their strong growth trajectory in the coming years.
Some of the key participating players indulged in the sales of twist dispensing closures are:
- O.Berk Company
- Silgan Holdings
- Plastics Corporation
- Aptar Group
- Crown Holdings
- Ardagh Group
- Berry Global Inc.
- Ball Corporation
- Guala Closures Group
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Key Segmentation:
By Material Type:
- Plastic
- Metal
- Aluminium
- Steel
- Others
By Features:
- Tamper Evident
- Child Resistant
- Others
By Application:
- Bottles
- Jars
- Pouches
- Liquid Packaging Carton
- Tubes
- Others
By End Use:
- Food
- Beverages
- Pharmaceuticals
- Personal Care
- Cosmetics
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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