Packaging has undergone a dramatic shift in the past few years, from just a medium of communicating basic product information to one of the most valuable tool to attract customers. Packaging has become a very important component in almost all the industries as it can have a huge impact on shaping consumer’s perception, however, it is the fast moving consumer goods category (FMCG) which has seen the maximum impact.
Over the years, the competition has intensified in the packaging design space for beverage packaging with more and more brands are entering this market that led to functional and technological innovations by these brands. One such market that gained traction because of these developments is the twist caps market. The Twist cap is a unique product that offers consumers an easier way of opening the bottle without an opener just by twisting the cap. These caps are suited for hot, cold and aseptic filling that is followed by sterilization and pasteurisation processes.
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Twist Caps Market Dynamics:
The demand in the twist caps market is expected to grow over the forecast period primarily driven by the growth in the food and the beverage industry. The feature associated with the twist off caps or twist caps like easier way of opening bottles or jars that doesn’t require an opener is also a major factor that fuels the growth in the twist caps market. Other factors such as changing lifestyles, rise in the disposable incomes, more use of packaged food items further escalates the growth in the twist caps market.
However, recent trend shows that most of the craft brewers prefer pry caps over twist caps for their beers as pry caps are considered to be less expensive and also these caps are said to provide better seal against oxygen that can cause beer to become stale. These disadvantages associated with twist caps can prove to be restraining factors for the growth in the twist caps market.
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Geographically, the Twist Caps market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). North America and Europe are expected to witness an average growth in the twist caps market as these markets are already matured and saturated for alcoholic beverages that drives the growth in the twist caps market.
In addition, the product manufacturers are focusing more on other regions like Asia Pacific where there is more scope of penetrating the newer markets of developing countries. Asia Pacific is expected to witness the maximum growth in the twist caps market primarily driven by changing lifestyles in the countries like India and China, where the consumption of alcohol has increased over the years.
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Additionally, rise in purchasing power and disposable incomes, increasing number of young population and growth in the packaged food industry further drives the growth in the twist caps market of Asia Pacific region. MEA is expected to experience a stagnant growth in the twist caps market over the forecast period.
Twist Caps Market- Key Players:
Some of the leading players identified across the globe in the Twist Caps market are: Massilly North America Inc., Elmoris JSC, Silgan White Cap Deutschland GmbH, TOKK Company, K.G. International, Inc., and Nippon closures Co, Ltd etc.
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