Aluminum Caps & Closures Market – Major Players are Crown Holding, Silgan Holdings, Amcor, Guala Closures, and Closure Systems International, Alcopack Group, Herti JSC, Torrent Closures, Cap & Seal Pvt. Ltd, and Federfin Tech S.R.L

According to recent market research "Aluminum Caps & Closures Market by Product Type (Roll-on pilfer-proof Caps, Easy-open Can Ends, Non-refillable Closures), End Use Sector (Beverages, Food, Home & personal Care, Pharmaceutical), and Region - Global Forecast to 2023", The aluminum caps & closures market is projected to reach USD 6.80 Billion by 2023.

The aluminum caps & closures market size is projected to grow from USD 5.58 Billion in 2018 to USD 6.80 Billion by 2023, at a CAGR of 4.05%. This market is witnessing considerable growth due to increasing demand for convenience packaging. Growing concerns about product safety and security and rising demand from the end-use industries such as beverage, pharmaceutical, food, and home & personal care are the key factors driving the growth of the aluminum caps & closures market.

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The aluminum caps & closures market is witnessing considerable growth owing to the rise in demand from beverage and pharmaceutical industries. Demand from beverage companies for novel differentiating closures drives the market for premium caps in the beverage industry. This growth can also be attributed to the increase in demand for product diffraction and branding. Rise in demand from the pharmaceutical industry for tamper-evident closures is another factor driving the growth of the aluminum caps & closures market. MarketsandMarkets projects that the aluminum caps & closures market will grow from USD 5.58 billion in 2018 to USD 6.80 billion by 2023, at a CAGR of 4.05%.

The aluminum caps & closures market, by end-use industry, is segmented into beverage, pharmaceutical, food, home & personal care, and others. The beverage segment is projected to grow at the highest CAGR during the forecast period. Aluminum caps & closures are used in beverage packaging to enhance the shelf life while retaining taste and texture of the beverage.

The Asia Pacific aluminum caps & closures market is projected to grow at the highest CAGR from 2017 to 2022. This region is the center for foreign investments and the booming food & beverage and pharmaceutical sectors, which provides immense opportunities for the growth of the aluminum caps & closures market. The increase in demand for aluminum caps & closures can be attributed to the rise in population of the region with high disposable incomes. With the growing incomes in this region, the demand for high-end products has been increasing. Convenience food products, aerated beverages, and pharmaceutical & healthcare products are some applications that find growth in the region, resulting in higher demand for aluminum caps & closures.

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MarketsandMarkets projects that the aluminum caps & closures market size will grow from USD 5.58 Billion in 2018 to USD 6.80 Billion by 2023, at a CAGR of 4.05%. The aluminum caps & closures market is witnessing considerable growth due to increasing demand for convenience packaging and the growing concerns about product safety and security in beverage, food, and pharmaceutical industries. The growing demand from end-use industries due to their benefits and wide-scale application are the key factors driving the growth of the aluminum caps & closures market.

The key players in the aluminum caps & closures market include Crown Holding (US), Silgan Holdings (US), Amcor (Australia), Guala Closures (Luxembourg), and Closure Systems International (US). Other players in this market include Alcopack Group (Germany), Herti JSC (Bulgaria), Torrent Closures (Spain), Cap & Seal Pvt. Ltd (India), and Federfin Tech S.R.L (Italy). These players adopted various strategies such as expansions & investments, agreements, contracts, and strategic alliances, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.

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Crown Holding is one of the largest packaging companies in the world. The company offers a large number of packaging solutions catering to various end-use industries such as food & beverage, pharmaceuticals, powered drinks, and confectionery packaging. It operates in segments such as beverage cans, food cans & closures, and others, and offers aluminum closures under the food caps & closures segment. It has adopted organic and inorganic strategies such as expansions & investments, new product & technology launches, and mergers & acquisitions to expand its global presence. For instance, in February 2018, Crown Food Europe, a subsidiary of Crown Holdings, introduced a new capping solution package, which would help food manufacturers to lower the total cost of ownership. The package would include the sale of its capping technology, ancillary components, and expert technical support for the machine’s service life. Three of Crown’s capping solutions-Smart Capper, Euro Capper, and Global Capper-were to be available for sale as part of this package.

Amcor is one of the leading companies in the aluminum caps & closures market. It is a global packaging manufacturer that offers innovative packaging solutions. The company operates through two business groups, namely, flexibles and rigid plastics. The company caters to the food, healthcare, beverage, home, tobacco, and personal care industries through its broad range of flexible and rigid packaging products. The company has maintained its leadership position through its strong distribution network across North America, Western Europe, Australia, and New Zealand. The company continues to expand its capacity by adopting organic strategies such as expansions and inorganic strategies such as acquisitions, joint ventures, and agreements across the world.

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