The screw closures market is expected to grow a CAGR of 5.4% during 2020 to 2027 and projected to surpass at US$ 42.5 billion by 2027.
Screw closures are most prominent type of caps & closures used in the beverage industry. The hassle-free opening and closing, along with the improved security to prevent product wastage makes them ideal for use in the food & beverage industry. Hence, the growth of the screw closures market closely depends upon the development of the beverage industry. The ready-to-drink market is expected to witness an impressive growth in the overall screw closures market during the forecast period, which can increase the need of high-end screw closures. The food industry also accounts for a significant market share of the global screw closures market.
The global screw closures is experiencing growth due to an increase in demand from the beverage, food , pharmaceuticals, and personal care & cosmetics industries. The Asia Pacific excluding Japan (APEJ) region is estimated to be the largest marketplace for the global screw closures market.
High Demand for Screw Closures
The global demand for screw closures is continuously increasing due to the rise in the consumption levels of various personal care, food & beverage, and household goods. The growth of the screw closures market is primarily driven by the increased consumer spending on the convenience products. As the demand for these products grows, the demand for PET bottles and liquid cartons will also grow and will subsequently boost the growth of the global screw closures market in the region. Also, the growth in the beverage end-use industry is expected to further drive the growth of the global screw closures market. The penetration of bottled water is increasing at a good CAGR value globally due to the changing consumer habits towards more hygienic drinking habits. This has led to an increase in demand for screw closures.
Growth in Single-serve Beverages
Single-serve beverages are packaged along with hot fill process which increase the shelf life of the packaged contents are fueling the growth of the global screw closures market. Single serves and ready-to-drink coffee, which didn’t exist few years ago, comprise of more than 30% of the total coffee sold at the grocery stores are fueling the growth of the global screw closures market. Furthermore, technological developments & improvements in the hot-fill processing have become the prominent factor influencing the demand for the plastic screw closures.
Growing Aversion Towards Soda & Soft Drinks
The consumption of bottled water and ready-to-drink tea and coffee has increased significantly globally due to growing aversion towards soda. Sealing breaches could also be the limiting factor, as a screw closures not only seals the containers, but also protect the containers but also protects its contents from piracy and satisfies technical demands requested by the government and authorities. Furthermore, energy drinks, along with their labeling, packaging, and ingredients are regulated by the U.S. food and drug administration (FDA) which is a hindering factor for the screw closures market.
In the global screw closures market report, we have discussed individual strategies followed by the key players to sustain in the competition. A competition dashboard with significant key players is provided in the global screw closures market.
In this report, VRR has discussed individual strategies followed by the recent developments in the screw closures product segments. VRR suggests that the increase in the growth of single-serve beverages is expected to be a key driving force in the growth of the screw closures market globally. Polypropylene has been found to be the most widely used material for screw closures. Out of several plastics, LDPE, HDPE, polypropylene, metal, and thermosets are expected to witness maximum use for screw closures. Polypropylene is estimated to account for more than 50% of the global screw closures market by value. The VRR study analyses the screw closures market in several regions and focuses on the key dynamics affecting the screw closures market, globally.
The Asia Pacific excluding Japan (APEJ) screw closures market is estimated to be highly attractive in terms of market share and CAGR during the forecast period. By diameter type, the 63 mm–100 mm neck diameter segment is majorly preferred by consumers in 2018. The screw closures market for the beverage industry in the Asia Pacific excluding Japan (APEJ) is projected to register the highest CAGR among other end-use segments during the forecast period.
The North American screw closures market report includes a country-level analysis for the U.S. and Canada. The U.S screw closures market is expected to dominate the regional market throughout the forecast period. The Latin American screw closures market includes a country-level analysis for the Brazil, Mexico, and Rest of Latin America. Brazil is projected to witness fast-paced growth, while Rest of Latin America is estimated to be a prominent screw closures market in terms of market value during the forecast period. In the European screw closures market analysis, prominent countries such as Germany, the U.K., Spain, France, Italy, and Rest of Europe are analyzed. The U.K screw closures market is projected to grow at the highest CAGR among other countries in the European region. Germany and Italy are estimated to be highly attractive screw closures markets in terms of market value share. The Asia Pacific excluding Japan (APEJ) screw closures market includes a country-level analysis for China, India, Malaysia, Singapore, Australia, & Rest of APEJ. The Middle East and Africa (MEA) screw closures market includes a country-level analysis for North Africa, GCC Countries, South Africa, Israel, and Rest of MEA. In the Middle East & Africa screw closures market, Israel is projected to expand at the highest CAGR during the forecast period while the GCC countries segment is the largest marketplace for screw closures throughout the forecast period.
Key players profiled in the screw closures market include Amcor Limited, Berry Global , Inc, Aptar Group Inc., RPC M& H Plastics Ltd, Silgan Plastic Closure Solutions, O. Berk Company, LLC, Closure Systems International, Inc., Bericap GmbH and Co KG, Global Closure Systems, Weener Plastics Group BV, Blackhawk Molding Co. Inc., CL Smith Company, Georg MENSHEN GmbH & Co. KG, Mold-Rite Plastics, LLC, Alpha Packaging, Inc., and Comar LL.
The Screw closures market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Screw closures market for the base year 2020 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Screw closures market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Screw closures market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Screw closures market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Screw closures capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Screw closures by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Screw closures market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Screw closures market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Screw closures market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
For the region, type and application, the sales, revenue and their market share, growth rate are the key research objects; we can research the manufacturers' sales, price, revenue, cost and gross profit and their changes. What's more, we will display the main consumers, raw material manufacturers, distributors, etc.
Geographically, global xxx market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer.
We will provide market shares of the prominent market suppliers/companies separately for each of these geographies.
Overall, this is an in-depth research report specifically for the Screw closures industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Screw closures market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Screw closures market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Screw closures market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Screw closures market. These factors have benefited the growth of the global market for Screw closures. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Screw closures. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Screw closures are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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