The global aluminum caps & closures market size is projected to grow from USD 6.2 billion in 2020 to USD 7.6 billion by 2025, at a CAGR of 3.9% between 2020 and 2025. The major driving factors of the market include increasing demand for convenience food, concerns about product safety and security, product differentiation and branding, and decreasing pack sizes.
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The key players in the aluminum caps & closures market are Crown Holdings, Inc. (US), Silgan Holdings. (US), Amcor (Australia), Guala Closure (Luxembourg), Alcopack (Germany), Herti JSC (Bulgaria), Torrent Closures (Spain), Cap & Seal Pvt Ltd (India), and Federfin Tech S.R.L (Italy) are the leading players in the aluminum caps & closures market. Other players include Osias Berk (US), ITC Packaging (US), DYZDN Metal Packaging (China), Shangyu Sanyou Electro-Chemical Aluminium Products (China), Alameda Packaging (US), EMA Pharmaceuticals (France), Alupac-India (India), Alutop (India), Helicap Closures (China), and Manaksia Limited (India). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch/development, and partnership, contracts & agreements, a joint venture between 2015 and 2020, to enhance their market shares and expand their global presence.
Crown Holdings held the leading position in the global aluminum caps & closures market. The company has maintained its leadership position through its strong distribution network across Western Europe, the US, and other developing countries. The company has an extensive global reach, strong market position, and stable revenue generation. It aims to consolidate its position in the global aluminum caps & closures market through several strategic acquisitions and investments.
- In February 2018, Crown Food Europe, a subsidiary of Crown Holdings, introduced a new capping solutions package, which will help food manufacturers to lower the total cost of ownership. The package included 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 made available for sale as a part of this package.
Amcor is the second-largest player in the aluminum caps & closures market. The company has its presence in North America, Europe, Asia Pacific, and in emerging markets. It is one of the leading companies engaged in the manufacturing and distribution of both plastic and aluminum caps & closures. The company focuses on increasing its profitability by strengthening customer relations and expanding its presence by adopting both inorganic and organic strategies, such as agreements and contracts in emerging markets while optimizing operational performance.
- In June 2019, Amcor acquired Bemis Company Inc. The combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis has brought additional scale, capabilities, and footprint that has strengthened Amcor’s industry-leading value proposition and generate significant value for shareholders.
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The aluminum caps and closures market is anticipated to experience rapid growth in the APAC region throughout the forecast period. This surge is attributed to increasing consumer demand for convenient food options, heightened awareness regarding product safety and security, a growing preference for smaller packaging sizes, and the imperative to prevent contamination of packaged food. Despite these driving factors, challenges such as industry innovation, the presence of substitute products, and stringent environmental regulations pose significant obstacles to market expansion in the region.
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