VALLEY COTTAGE, New York, September 17, 2018 /PRNewswire/ --
Increasing demand for convenience packaging and bottle opening solutions is projected to be a key factor pushing the global demand for ring pull caps. Ring pull caps offer convenience in opening bottles, cans, and tins by simply puling the ring on the top of the products. This also eliminates the requirement of an opener, traditionally required for opening a crown cap. Moreover, ability of ring pull caps to hold high pressure of carbonated and non-carbonated drinks, would further drive the global ring pull caps market. Expanding at a steady CAGR of 5.1% during the assessment period of 2018-2028, the global ring pull caps is expected to reach a market valuation of US$ 480.8 Mn by 2028, as per a recent market study by Future Market Insights.
Aluminum to Remain the Most Preferred Material; Increasing Demand for Tin-Free Ring Pull Caps to Propel the Market
Ring pull caps made of aluminum are likely to hold a major market share, whereas steel ring pull caps is projected to witness higher growth over the forecast period, primarily driven by the demand of chrome plated steel caps or tin-free caps. The lower price and barrier properties of the aluminum caps are some key factors driving the adoption of aluminum ring pull caps. In terms of end-use, beer industry is expected to witness highest adoption of ring pull caps, creating highest incremental opportunity, followed by soft-drinks. Manufacturers of functional beverages, fruit juices, ciders, spirits and wines are gradually favoring ring pull caps for the glass bottles owing to rising demand for convenience.
Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-7223
Steel is generally coated with tin for protection from corrosion. Chrome oxide coating is gradually replacing tin coating on the steel, making the tin-free steel highly suitable for adhesion of coating, inks, and paints, further increasing the printability of the ring pull caps. With comparatively lower manufacturing cost, increasing demand for tin-free ring pull caps is likely to push the global market for ring pull caps.
Increasing Beer Production in APEJ to Open Opportunity Doors for Ring Pull Caps Manufacturers
As per a recently concluded market analyses, developing nations of APEJ and Latin America are expected to present investment opportunities to manufacturers of ring pull caps owing to rapid production of beer over the last decade, in the aforesaid regions. Since 2006, Vietnam has witnessed a growth of more than 200% in the production of beer. On the other hand, key market players are focusing on expanding their production in APEJ, considering the region produces nearly 1/3rd of the total beer production, globally. On the other hand, declining beer production in North America, Japan, and some European countries has further impacted the ring pull caps production.
Preview Analysis Ring Pull Caps Market Segmented By Material - Aluminum, Steel; By Cap Diameter - 26 mm, Other sizes; By End-use - Beer, Soft drinks, Others (wine, Juices, etc.): https://www.futuremarketinsights.com/reports/ring-pull-caps-market
Design Advancements to Further Fuel Ring Pull Caps Adoption
Advancements in design such as tin free caps and crown type ring pull caps will further contributed to the increasing demand for ring pull caps across the globe. To attract more end-consumers, key market players are making efforts to improve the overall the design of ring pull caps resulting in chrome plated ring pull caps, metal cap with plastic ring to reduce the overall weight of the cap, crown type ring pull cap with ring rigidly attached to the top of the cap, oxygen scavengers for the preservation of the alcoholic beverages for long a time period among others. Moreover, focus on enhancing other aesthetics is also being considered using advanced metal printing techniques such as flexo-offset hybrid printing, creating more opportunities in the global ring pull caps market. Inefficient designs including diameter and strength of the ring could restrain the growth of ring pull caps market.
In its recent report, Future Market Insights has also profiled key players in the global ring pull caps market. For an extensive analysis of the competitive landscape, write at firstname.lastname@example.org
Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-7223
More from Packaging Market Intelligence:
- Retail E-Commerce Packaging Market Segmentation By Product Type - Protective Packaging, Boxes, Mailers, Labels, Tape, Others (Shrink & Stretch Films, Bags & Pouches, etc.); Merchandise Type - Consumer Electronics, Fashion (Clothing, Footwear, etc.), Home Furnishings, Health, Personal Care & Beauty, Recreation Goods, Multimedia & Software, Food & Beverages, Home Care, Others (Books, Automotive Products, Gifts; Market Type - Third Party Fulfilment & Logistic Companies, Brick & Mortar Retailers, Spec: https://www.futuremarketinsights.com/reports/retail-e-commerce-packaging-market
- Fresh Meat Packaging Market Segmentation By Material Type - PE, PVC, BOPP, PA, EVOH, PP and Others; By Layer Type - Monolayer, 3-Layer, 5-Layer, 7-Layer And 9-Layer; By Packaging Format - MAP, VTP, VSP and Others; By Meat Type - Beef, Pork, Poultry and Others: https://www.futuremarketinsights.com/reports/north-america-fresh-meat-packaging-films-market
- Digital Printing For Packaging Market Segmentation By Technology Type - Liquid Toner, Electrographic Printing, Nano-Graphic Printing, Stream Inkjet Technology Printing, Others; By Product Type - Labels, Films & Wraps, Bags & Sacks, Boxes, Folding Cartons, Bottles, Cans, Pouches & Sachets, Others; By End Use - Food, Beverages (Alcoholic, Non-Alcoholic), Pharmaceuticals, Personal Care & Cosmetics, Electronic Components, Chemicals, Others (Automotive Products etc.): https://www.futuremarketinsights.com/reports/digital-printing-for-packaging-market
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Browse More Packaging
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): +44(0)20-7692-8790
Press Office: Press@futuremarketinsights.com
FMI Blog: http://www.fmiblog.com/
SOURCE Future Market Insights