During the projected period, the twist dispensing closures market is expected to grow at a 5.5% CAGR. The twist dispensing closures market is now valued at US$ 65 billion in 2022, with a projected value of US$ 117 billion by 2032. Sales of twist dispensing closures have increased due to their ease of opening and closing without exerting much pressure. Increased demand for smaller bottles in the beverage industry is also expected to boost the market share of twist dispensing closures.
The report throws light on the drivers boosting twist dispensing closure sales, as well as the potential for market participants. However, the twist dispensing closures market has significant limitations that may impede its growth.
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How is the Competitive Landscape in the Twist Dispensing Closures Market
The key players of the twist dispensing closures market are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use to thrive business. This is driving the sales of twist dispensing closures.
Some of the key participating players indulged in the sales of twist dispensing closures are:
- O.Berk Company
- Silgan Holdings
- Plastics Corporation
- Aptar Group
- Crown Holdings
- Ardagh Group
- Berry Global Inc.
- Ball Corporation
- Guala Closures Group
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
These market players are anticipated to drive the twist dispensing closures market by introducing new products and expanding geographically.
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What are the Key Dynamics to the Twist Dispensing Closures Market Share
The light weight closure trend creates a significant opportunity for twist dispensing closures manufacturers as they focus on developing innovative products in order to gain the first mover advantage.
The twist dispensing closures market is gaining traction, due to cost effective solution of the closure in comparison with the other closures.
Twist dispensing closures don’t use liner so it requires lesser material and further reduces the conversions cost because of the elimination of the lining process. It is estimated that twist dispensing closures provide cost benefit of around 10-15%, because of their fast cycle times, higher efficiency and material savings.
Material saving is beneficial for manufacturers and stimulates more investment in new and innovative products.
For instance, in October, 2017 Silgan closures facility in Champaign, llinois got awarded with Illinois Governor’s Sustainability Award 2017 for its determinations towards reduction of plastic waste while production of closures.
Key Segments in the Twist Dispensing Closures Market
By Material Type:
- Tamper Evident
- Child Resistant
- Liquid Packaging Carton
By End Use:
- Personal Care
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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