March 28, 2020
Ring pull cap

Ring pull cap market: Growing Adoption of Convenient Packaging is Driving the market

Ring pull cap market is set to grow with a CAGR of 5.1% during the forecast period, starting from US$ 315.2 Mn in 2018.

Market Insights

The global ring pull cap market is driven by the growing disposable income of individuals across emerging countries. Over the past decade, significant growth in the middle class of the emerging economies of Asia has been witnessed. The region accounts for more than 60% of the global middle-class population, and the number is further estimated to grow during the forecast period. 

The increasing urbanization across the region along with the strong economic growth is supporting the growth of the middle class in the region. Furthermore, the increasing consumption of the beverages across the region is accelerating the adoption of the ring pull caps. Additionally, the rising adoption of the trend of the convenience packaging is augmenting the demand for the ring pull caps across the globe. 

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The soft drink segment is estimated to grow significantly at a CAGR of over 7% during the forecast period. The segment growth is credited to the increasing adoption of the ring pull caps in the glass bottle beverages. The global leaders in the soft drinks market such as Coca Cola and Pepsi are replacing the metal crown caps with the ring pull caps. The large scale use of the glass bottles for the soft drinks is further driving the demand for the market. 

Asia Pacific’s ring pull caps market is projected to develop considerably with a CAGR of more than 6.5% during the forecast period. The progress of the market is driven by the increasing adoption of soft drinks and beers across the region. The increasing disposable income of the population in the region is further driving the demand for the market. Furthermore, the growing food & beverage industry in the region is propelling the market. 

Report originally published at Credence Research: https://www.credenceresearch.com/report/ring-pull-cap-market

Segmentation  

 Type Segment (2017–2027; US$ Bn)

 • Aluminum

 • Steel

 Application Segment (2017–2027; US$ Bn)

 • Beer

 • Soft Drinks

 • Others

 Geography Segment (2017–2027; US$ Bn)

 • North America (U.S., Rest of North America)

 • Europe (U.K., Germany, France, Rest of Europe)

 • Asia Pacific (China, Japan, India, Rest of Asia Pacific)

 • Rest of the World (Middle East & Africa, Latin   America)

Some of the major companies profiled in the report include Fuzhou SKT Co. Ltd., Finn-KorkkiOy, Jiangsu Changjiang Lids Co. Ltd, Nippon Closures Co. Ltd., Pelliconi & Co. SPA, Taiwan Hon Chuan Enterprise Co. Ltd., The TNN Development Limited, and World Bottling Cap LLC. 

Key questions answered in this report

  • What was the market size of ring pull cap in 2018 and forecast up to 2027?
  • Which is the largest regional market for ring pull cap?
  • What are the major trends followed in ring pull cap market across different regions?
  • Who are the key companies in the ring pull cap market?
  • What are the key strategies adopted by the leading ring pull cap companies in market?

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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