Flip Top Caps And Closures Market
Flip Top Caps and Closures Market by Material Used, Application & Region - Forecast 2022 – 2032
Market Insights on Flip Top Caps And Closures covering sales outlook, demand forecast and up-to-date key trends
Flip Top Caps and Closures Market Outlook (2022-2032)
The flip top caps and closures market is expected to take a turn for the better, rising at a CAGR of 4.2% during the forecast period ranging from 2022 to 2032. According to Future Market Insights, sales of flip top caps and closures in 2022 are likely to total US$ 2.6 Billion, and will eventually increase at the aforementioned CAGR to be valued at US$ 3.9 Billion.
Anticipated Value of Flip Top Caps and Closures Market in 2022
US$ 2.6 Billion
Projected Value of Flip Top Caps and Closures Market in 2032
US$ 3.9 Billion
Growth Rate (2022-2032)
Expansion of Food and Beverage Sector Favoring Flip Top Caps and Closures Market
Flip top caps and closures help in achieving the ideal product packaging. It offers easy-to-open packaging. With the application, of flip-top caps and closures, customers can easily open and close the bottle, blister pack, clamshell package, and other containers.
Rising demand for several food products, alcoholic, & non-alcoholic beverages is projected to drive the market during the forecast period. Flip top caps and closures have applications in various other end-use sectors such as personal care, pharmaceutical, automotive, and home care.
The growing awareness about the advantages of healthy eating is likely to increase the demand for dietary supplements, which will drive the demand for packaging products. A survey conducted by Council for Responsible Nutrition (CRN) conducted a consumer survey in 2020 on dietary supplements, wherein vitamins and minerals were consumed by 98% of the participants, followed by herbals and botanicals used by 44%, weight management supplements by 19%, and sports nutrition by 30%.
Players in the market are focusing on procuring recycled materials for flip-top caps and closures for manufacturing. Post-Consumer recycles of aluminum, plastic, and steel are being explored, which can be processed further and used as raw materials. In October 2020, Closure Systems International launched a beverage closure made from 30% PCR content in partnership with Coca-Cola to enhance product sustainability.
In another instance, in July 2020, Silgan Closures launched its new one-piece 55 mm KS2 plastic closure for five-gallon and three-gallon HOD (home and office delivery) water bottles. The closure comprises various new characteristics that set it apart from competitive water bottle closures. It also features a flow-in closure liner for a superior bottle seal and a tamper-evident band to assure product safety.
Regionally, APAC is projected to be the largest market accounting for about 41% of the global revenue in 2021. The market is anticipated to expand at the fastest CAGR during the forecast period. The rapid growth of the region can be attributed to the presence of various developing countries like India, China, and Japan, among others.
Besides, growing demand for cosmetics and toiletries from developing countries is projected to boost the caps and closures consumption in the coming time. Other salient factors contributing to the market growth in APAC include poor-quality tap water, growing health awareness, international tourism, and higher income levels.
Potential players in the global flip top caps and closures market include Blackhawk Molding Company Incorporated, Amcor, BERICAP holdings, Global Closure Systems, and Crown Holdings.
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Flip Top Caps And Closures Market Overview
Consumer perception of packaging is slowly changing. Attractive packaging is gaining more popularity among consumers, which has resulted in development of more innovative and attractive packaging designs by the manufacturers.
Flip top caps and closures are clean and effective in controlling flow of liquid, allow direction pouring of the product for consumer friendly experience and are also ideal for dispensing higher viscosity product such as cream, milk as well as liquid condiments, spices and seasoning.
Flip top caps and closures are attractive in comparison to traditional caps and closures, and this is expected to be one of the important factors that can drive the growth in the global flip top caps and closures market in the future.
Global Flip Top Caps and Closures Market: Dynamics
Flip top caps and closures market is gaining traction owing to rising manufacturing output globally, increasing consumer spending on quality and innovative products. Additionally, availability of wide range of flip top caps and closures which fit bottles, jars, and tubes etc. is expected to further fuel the growth in the flip top caps and closures market and screw on flip top caps is expected to gain significant market share in coming years.
Gaining in flip top caps and closures market will be supported by continuous growth in pharmaceuticals, cosmetics and personal care industry. Flip top caps and closures are easy fluid dispensing which make it convenient for consumer to use product.
Global Flip Top Caps and Closures Market: Segmentation
The global flip top caps and closures market can be segmented on the basis of material used, application, and region. On the basis of material type, the global flip top caps and closures market can be segmented into plastic, metal and others (rubber and elastomers).
Plastic, flip top caps and closures segment can be further sub-segmented into Polypropylene, Polyethylene, Polystyrene, and other resins. Metal, flip top caps and closures segment can be further sub-segmented into aluminum and steel.
Plastic flip top caps and closures are most preferable among both manufacturers as well as consumers owing to the durable and flexible properties of plastic material. Among other materials, aluminum material is also preferred by the end user.
On the basis of application global flip top caps and closures market can be segmented into beverages, foods, toiletries, cosmetics and personal care products, pharmaceuticals, industrial chemicals, automotive and others. Based on application, cosmetics and personal care products are most lucrative application in the global flip top caps and closures market.
On the basis of region, global flip top caps and closures market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East and Africa.
Global Flip Top Caps and Closures Market: Regional Overview
Overall, the most rapid increase in global flip top caps and closures demand is expected to occur in the developing regions. Asia Pacific region is expected to be the fastest growing region as compared to other regions owing to increasing manufacturing sector in this region.
The Europe and North America markets are highly mature with high presence of established players. The global flip top caps and closures market is expected to witness healthy growth in near future driven by increasing disposable income together with widening consumer base.
These factors has also led to increased investment by companies engaged in manufacturing and distribution of flip top caps and closures in various regions. MEA and Latin America are expected to witness moderate growth in flip top caps and closures market over the forecast period.
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Global Flip Top Caps and Closures Market: Key Players
The main player of flip top caps and closures market are Blackhawk Molding Company Incorporated, Amcor, BERICAP holdings, Global Closure Systems, Crown Holdings, Siligan Holdings, Reynolds Group Holdings, Closure Systems International, Oriental Containers, Guala Closures Group, Berry Plastics, Pelliconi, Premier Vinyl Solution, and others.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments such as application, material, printing technology and geographies.