The twist dispensing closures market is likely to record a strong CAGR of 5.5% during the forecast period. The twist dispensing closures market is currently valued at USD 65 Billion in 2022 and is likely to reach USD 117 Billion by 2032.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2022) | USD 65 Billion |
| Anticipated Forecast Value (2032) | USD 117 Billion |
| Projected Growth Rate (2022 to 2032) | 5.5% CAGR |
Sales of twist dispensing closures have risen due to their easy-to-open and close feature of twist dispensing closures without applying much pressure
Increased demand for smaller bottles in the beverage industry is also projected to contribute to the growth of the twist dispensing closures market share.
The report sheds light on the factors improving the sales of twist dispensing closures, and, in turn, the opportunities for market players. However, the twist dispensing closures market also faces some challenges, which might limit the twist dispensing closures market share from reaching its potential.
Some of the key twist dispensing closures market trends promoting the demand for twist dispensing closures include an upsurge in innovation like caps that are easier to open, headstand packs, flow control, and clean dispensing which has resulted in frequent innovation and creativity in packaging.
Also, the consumption of food, chemical, and household products has increased significantly in the last few years which will further boost the demand for the global twist dispensing closures market.
The lightweight closure trend creates a significant opportunity for twist dispensing closures manufacturers as they focus on developing innovative products in order to gain the first mover advantage.
The twist dispensing closures market is gaining traction, due to the cost-effective solution of the closure in comparison with the other closures.
Twist dispensing closures don’t use a liner so it requires lesser material and further reduces the conversion cost because of the elimination of the lining process. It is estimated that twist dispensing closures provide a cost-benefit of around 10-15%, because of their fast cycle times, higher efficiency, and material savings.
Material saving is beneficial for manufacturers and stimulates more investment in new and innovative products.
For instance, in October 2017 Silgan closure facility in Champaign, Illinois got awarded with Illinois Governor’s Sustainability Award 2017 for its determination the reduce plastic waste while the production of closures.
Twist dispensing closures are mainly used in several end-use industries such as beverages and pharmaceuticals.
In North America, the USA is expected to dominate the twist dispensing closures market over the forecast period.
In the Asia Pacific region, China and India are anticipated to witness extensive growth during the forecast period. It is attributed to the preference for convenient closure solutions from twist dispensing closures.
The key players in the twist dispensing closures market are focusing on enhancing and adopting strategies like enhancing the durability, sizes, and use to thrive business. This is driving the sales of twist dispensing closures.
Some of the key participating players indulged in the sales of twist dispensing closures are:
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
These market players are anticipated to drive the twist dispensing closures market by introducing new products and expanding geographically.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2022 to 2032 |
| The base year for estimation | 2022 |
| Historical data | 2015 to 2021 |
| Forecast period | 2023 to 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments Covered | Material type, Features, End Use, Application, Region |
| Regional scope | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Country scope | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Russia, China, Japan, South Korea, India, Malaysia, Thailand, Indonesia, Australia & New Zealand, GCC Countries, S. Africa, N. Africa |
| Key companies profiled | O.Berk Company; Silgan Holdings; Plastics Corporation; Aptar Group; Crown Holdings; Ardagh Group; Berry Global Inc.; Ball Corporation; Guala Closures Group |
| Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The twist dispensing closures market grows at a rate of 5.5% CAGR during the forecast period 2022 to 2032.
Key players holding a substantial twist dispensing closures market share include O.Berk Company, Silgan Holdings, Plastics Corporation, Aptar Group, Crown Holdings, Ardagh Group, Berry Global Inc., Ball Corporation, and Guala Closures Group.
Demand for twist dispensing closures is likely to rise on the back of an increased upsurge in innovation like caps that are easier to open, headstand packs, flow control, and clean dispensing which has resulted in frequent innovation and creativity in packaging.
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Twist Dispensing Closures Market
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