Ring Pull Cap Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

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

Globally, the ring pull cap market is expected to grow with a CAGR of 5.1% during the forecast period from 2021 to 2029, starting from US$ 347.3 Mn in 2020. The growth of the market is driven by the growing demand for the ring pull caps market. As the market dynamics are changing and consumer is becoming more empowered, the packaging industry is also responding to meet the consumer requirements. Consumers’ lifestyle is changing and they are seeking convenience in daily use products. Consumers are looking for shifting towards packaging solutions that require the least time and effort. To address these challenges, the packaging companies are shifting towards the ring pull caps 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 bottle across the food & beverage industry is restricting the adoption of ring pull caps. Moreover, the ring pull caps are costly when compared to the metal crown caps is also one of the major restraints in the growth of the market.

The Beer Glass Bottle Is Dominating The Ring Pull Caps Market

The ring pull cap market is bifurcated based on application into beer bottles, soft drink and others. The beer bottle segment accounts for over 70% share in 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 the 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% share in the revenue in 2020. The growth of the market is attributed to the large scale consumption of the beer and software 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 caps market. In the years to come, Asia Pacific is projected to register the highest growth rate in the market. The market growth is expected from India and China have large consumption of beer and other soft drinks.

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 & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

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 global ring pull cap market based on type, application, and geography. Key segments covered in the report are as follows:

Type Segment (2019-2029; US$ Bn)

• Aluminum
• Steel

Application Segment (2019-2029; US$ Bn)

• Beer
• Soft Drinks
• Others

Geography Segment (2019-2029; 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)

Key questions answered in this report

• What was the market size of ring pull cap in 2020 and forecast up to 2029?
• 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?

Unique data points of this report

• Statistics on adoption of ring pull cap worldwide
• Recent trends across different regions in terms of adoption of ring pull cap across various applications
• Notable developments going on in the industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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