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Ring Pull Cap Market By Type (Aluminum, Steel), By Application (Beer, Soft Drinks, Others) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Growing Adoption of Convenient Packaging is Driving the Ring Pull Cap Market

Globally, the ring pull cap market is expected to grow at a CAGR of 5.1% from 2019 to 2027, starting at US$ 315.2 million in 2018. The growth of the market is driven by the growing demand for ring pull caps. As market dynamics change and consumers become more empowered, the packaging industry is also responding to meet their requirements. Consumers' lifestyles are changing, and they are looking for convenience in everyday products. Customers want packaging solutions that take the least amount of time and effort. To address these issues, packaging companies are turning to ring pull cap solutions.

The numerous benefits offered by the ring pull cap over the metal crown cap are accelerating their adoption across the beverage industry. However, the growing demand for PET packaging bottles across the food and beverage industries is restricting the adoption of ring pull caps. Moreover, the ring pull caps are costly when compared to the metal crown caps, which is also one of the major restraints on the growth of the market.

The Beer Glass Bottle Is Dominating the Ring Pull Caps Market

The ring pull cap market is segmented by application into beer bottles, soft drink bottles, and other containers. The beer bottle segment accounts for over 70% of the ring pull cap market. The growth of the market is credited to the convenience offered by the ring-pull caps. It is estimated that more than 5.0% of beer bottles have ring pull caps, and the number is further estimated to increase during the forecast period. The strong consumption rate of beer across the globe is one of the primary factors driving the growth of the market.

North America Is Leading the Ring Pull Cap Market

North America is leading the ring pull cap market with 37% of the revenue in 2018. The growth of the market is attributed to the large-scale consumption of beer and soft drinks across the region. Beer is estimated to be one of the most widely used beverages in the region. Furthermore, the growing packaging industry in the region is further accelerating the demand for the ring pull cap market. In the years to come, Asia Pacific is projected to register the highest growth rate in the market. India and China, which consume a lot of beer and other soft drinks, are expected to drive market growth.

The key vendors in the ring pull cap market are 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.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The ring pull cap market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global ring pull cap market based on type, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report

  • What was the market size of ring pull caps in 2018 and the forecast up to 2027?
  • Which is the largest regional market for ring-pull caps?
  • What are the major trends followed in the 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 the market?

Unique data points of this report

  • Statistics on the adoption of the ring pull cap worldwide
  • Recent trends across different regions in terms of the adoption of the ring pull cap across various applications
  • Notable developments are going on in the industry.
  • Attractive investment propositions for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently Asked Questions:

The market for Ring Pull Cap Market is expected to reach US$ 315.2 Mn By 2027.

The Ring Pull Cap Market is expected to see significant CAGR growth over the coming years, at 5.1%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

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 are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Sep 2019
Category:  Packaging
Report ID:   59894
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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