Europe Metal Closures Market Size

Europe Metal Closures Market Analysis

The Europe Metal Closures Market is expected to register a CAGR of approximately 3% during the forecast period (2021 - 2026). The recyclability factor of metal packaging drives the increase in the adoption of metal closures over plastic closures. Also, materials used in metal packagings like aluminum and steel are the two most robust raw materials for packaging solutions like caps and closures owing to the superior recycling infrastructure.

• Metal closures extend shelf-life while retaining the taste, flavor, and texture of the packaged products. It also offers leak-proof and contamination resistant features, hence, metal closures play a vital role in driving visual appeal, brand differentiation, and convenience for consumers. Metal closures find application in various end-user industries such as food, beverages, and pharmaceuticals, amongst others.
• Europe is one of the largest markets for food items such as jams, jellies, purées, and marmalades, representing around 50% of total world imports. Further, the region has a higher consumption of packed food items such as jams, pickles, and many other food products, which augment the growth of the metal closures market in the region.
• Moreover, the pharmaceutical industry is another major sector using metal closures due to its barrier properties and insulating properties. Metal closures can be sealed securely, opened easily, and resealed effectively. Due to the growing market of OTC (Over-the-Counter) drugs, especially syrup bottles, metal closures have rising demand in the region. According to the EFPIA 2019 report, the pharmaceutical market value in Europe was EUR 208,949 million, and the export value of the region was EUR 396,036 million.
• Several regional market players are viewing strategic partnerships and acquisitions as a lucrative path towards expanding their market presence. For instance, in Jan 2020, Guala Closures Group acquired the Closurelogic GmbH, specializing in aluminum closures. Closurelogic produces approximately 3.4 billion aluminum closure per year. These initiatives are expected to aid in the growth of metal closures in the European region.
• Moreover, during the global coronavirus outbreak, several governments across the globe have allowed the supply of essential goods only. Owing to this, the Metal Packaging Europe (MPE) association, reached out to the European Commission and Member States to recognize the metal packaging sector as essential in ensuring the uninterrupted flow of critical goods, in the food, beverage, and medical industries.