The global non-aerosol overcaps market is expected to rise at a CAGR of ~6.7%, during the forecast period. The non-aerosol overcaps market is expected to witness a soaring growth in 2021 with revenues up 7.3% each year. A new forecast by FMI estimates that the non-aerosol overcaps profit margin will nearly double between 2021 and 2031. The majority of demand for non-aerosol overcaps is because of consumer inclination towards packaging that is cost-effective, easy to use and sustainable.
In 2022, the non-aerosol overcaps market is projected to be worth US$ 238.1 Million. The demand for non-aerosol overcaps is anticipated to increase at a CAGR of 4.2% between 2022 and 2032. This is largely due to the advantages of cost effectiveness, increased usage across a variety of end-use industries, including automotive, personal care, food & beverages, and others, and the prevalence of customizable extension and package design, which improves packaging aesthetics.
Non-Aerosol Overcaps Market: An Overview
Non-aerosol overcaps fit various bottles, cans that have different applications and can also be used as a measuring cup for liquids. Consumers have a simple approach for packaging and that is to seek a packaging that is intuitive, easy to operate, safe, sustainable and cost-effective.
Customers are transitioning towards online shopping and consuming products that are available on the go. This has brought a change in the interaction between the customer and their approach to packaging solutions.
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Dispensing solutions have an important role in giving consumers a safe experience while using products. Overcaps provide actuators to non-aerosol containers, bottles, cans from spilling the liquid from wastage.
The non-aerosol overcaps market serves many end-use industries such as food and beverage, cosmetics, healthcare, automotive and others. Manufacturers provide overcaps to the industries for standard packaging solutions or cater for their client needs by providing customized options. The non-aerosol overcaps market is anticipated to expand at a subsequent pace in the coming years.
What are Market Opportunities for Non-Aerosol Overcaps Market?
Overcaps have enormous benefits which include providing protection from dust, decreasing the chances of accidental discharge or formation of micro-organisms over the sprayer surface.
Overcaps provides enhanced aesthetics to the packaging of the product. Especially plastic overcaps which nowadays offers an opportunity for printing on the surface for the branding of the product. This provides an edge over the promotion for products and brands and subsequently increases the sales for non-aerosol overcaps during future years.
What are the Key Market Trends Impacting the Non-Aerosol Overcaps Market?
In recent years, lightweight non-aerosol cans and bottles are becoming more popular than standard products. Manufacturers focus on providing more sustainable products which are easy to recycle and do not have any harmful effect on the environment.
Spending on research and development has been increased in the past decade to provide a cost-effective product to consumers which will create abundant possibilities for the non-aerosol overcaps market during the forecast period.
What are the Market Restraints for Non-Aerosol Overcaps Market?
Weight reduction has affected the integrity of non-aerosol cans which includes overcaps as a component. Due to this manufacturers are focusing on providing more consumer-oriented products to provide harmless packaging products. Apart from this, recycling issues are the factors that pose a threat to the growth of the non-aerosol overcaps market.
But with changing trends and the adoption of biodegradable non-aerosol overcaps the recycling issues are overcome and it augments the demand for non-aerosol overcaps for the forecast period.
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Competitive Landscape
Global Players:
- Berry Global Inc.
- Huhtamaki Oyj
- Precision Valve Corp.
- Claytoon Corp.
- O.Berk Company
- Cobra Plastics
- Dubuque Plastics
- InterPac International LLC
- Rieke Corp and others.
APAC Players:
- Limner Technology Co. Ltd.
- Ningbo Vision Co. Ltd.|
- Wuzi Sunmart Science and Technology Co. Ltd.
- Whea-Stone Co. Ltd.|
- Daisaku Trading Co. Ltd.
- Dhiren Plastics Industries
- AG Poly Packs and others.
What Strategies are Adopted by Key Players for Increasing their Market Share in the Non-Aerosol Overcaps Market?
The players operating in the non-aerosol overcaps market are trying to increase their market reach by expanding their presence in the untapped regions. Also, the key players are trying to focus on increasing their production capacity by developing their manufacturing facilities or through acquisitions:
- In July 2019, Berry Global Inc. acquired RPC Group which is a major European plastic packaging company that will improve the company’s footprint in the region.
Why will India Hold a Prominent Share in the Non-Aerosol Overcaps Market?
India will capture a significant portion of the non-aerosol overcaps market by the end of 2031 due to an exponential increase in packaging for personal care & cosmetics, pharmaceutical products. Also, factors that will lead to India’s rise in market share are low tax rate on food, cosmetics and personal care products and skilled labour which is extensively available and cheap.
The rising numbers of Indian end-use industries such as FMCG, online retail, home care products will cause a positive impact on the country’s share in the APAC market. All these factors considered India will have a major hold in the non-aerosol overcaps market during the forecast period.
How has COVID-19 Impacted the Growth of the Non-Aerosol Overcaps Market?
The non-aerosol overcaps market has a variety of end-use applications in FMCG, pharmaceuticals, cosmetics & personal care, and many more industries. The market has seen a downfall in sales due to the outbreak of the COVID-19 virus.
Demand and supply of non-aerosol overcaps came to a halt across many factories because of the imposition of lockdowns by various countries. The FMCG and pharmaceutical sector created sufficient demand during the outbreak to keep this market going without having major setbacks. In totality, the effect of the virus on the non-aerosol overcaps market was moderate and will convalesce back by the end of the year 2021.
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Key Segments of Non-Aerosol Overcaps Market Covered in the Report
By Material Used:
- Plastic
- Polyethylene
- Polypropylene
- Others
- Metal
- Aluminium
- Steel
- Others
By Basis of Diameter:
- Less than 30 mm
- 31 to 40 mm
- 41 to 50 mm
- More than 50 mm
By Application:
- Cans
- Bottles
By End-use Industries:
- Food & Beverages
- Consumer Goods
- Automotive
- Pharmaceuticals & Healthcare
- Painting and Coating Industry
- Personal care & Cosmetics
- Others
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