The global twist caps market is projected to grow from USD 2.6 billion in 2023 to USD 4.2 billion by 2033, registering a moderate compound annual growth rate (CAGR) of 4.9%. This growth is primarily fueled by the increasing demand for twist-off metal caps in various industries, particularly food and beverage.
Market Overview
Twist caps, known for their versatility and safety in packaging, are widely used across different sectors, particularly in the food and beverage industry. These caps, which can be made from plastic or metal, provide superior sealing compared to traditional caps, ensuring product integrity and safety.
Key Drivers of Growth
- Rising Demand for Twist-Off Metal Caps:
- The brewing industry is experiencing heightened demand for twist-off metal caps, which are ideal for pasteurization and sterilization processes. Their ability to maintain the freshness of alcoholic beverages significantly boosts their sales.
- Excellent Oxygen Barrier Properties:
- Twist-off metal caps are known for their superior oxygen barrier properties, extending the shelf life of products. This characteristic is particularly valuable for products such as sauces, condiments, jams, and dry foods, driving demand in the consumer market.
- Growth of the HoReCa Industry:
- The expansion of the hotel, restaurant, and café (HoReCa) sector is propelling the need for twist caps. For example, the opening of new establishments like Angrezi Dhaba in Hyderabad reflects the growing trend, leading to increased demand for packaged food and beverages.
- Innovative Product Launches:
- New product introductions, such as Griffith Foods’ Master’s Touch and Chef’s Own range of sauces, highlight the rising demand in the sauces and condiments segment. These launches are expected to drive twist cap sales further.
Growth Factors
Rising consumer interest in fast-moving consumer goods (FMCG) and the continuous pursuit of technological advancements and functional innovations by food brands are anticipated to be key drivers propelling sales growth. The evolving landscape of consumer preferences and the dynamic nature of the food industry are prompting brands to explore and implement cutting-edge technologies and functionalities to meet the ever-changing demands of their customers.
Furthermore, a robust surge in the demand for alcoholic beverages, particularly in the thriving markets of the Asia Pacific and North America, is poised to significantly boost sales. The cultural and social dynamics, coupled with evolving lifestyles, contribute to an escalating desire for alcoholic beverages in these regions. As a result, manufacturers and distributors are expected to capitalize on this trend, driving the overall sales momentum within the alcoholic beverage sector.
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.
Market Players
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.
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
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