Sprinkle Caps Market: Growth in the use of Plastic material in comparison to traditional materials for Production is the key trend
Caps and Closures market forms a very important part of rigid packaging industry and is gaining traction due to the increasing demand from the overall packaging industry. Packaging products including caps and closures extends the shelf life of the product and helps in restoring and retaining the flavor of the food items for a longer time. These type of packaging not only make product look attractive that drives sales for the brand owners, but also provide functionality features which widens the customer base. The caps and closures can be used to package different type of containers such as bottles, canisters, tubes, cans and beverages cartons etc.
Sprinkle caps are type of caps that are used to sprinkle different products like herbs, seasoning, granules and powder etc. through multiple holes. They come in different shape, size and material depending on the product and the packaging required for different product item. Furthermore, due to the growing popularity of sprinkle caps and varied applications being identified, new products in this space are being developed with time. For example, launch of Spoonkler by RPC Containers Ltd for the Bart Ingredients Company’s spice range was introduced when the brand discovered that awkward shape of most spice jars was seen as a hindrance by several customers. These type of frequent innovations are expected to drive the demand in the sprinkle caps market.
Sprinkle Caps Market Dynamics:
The sprinkle caps market is expected to grow at a CAGR of around 4% over the forecast period primarily driven by the growth in the overall Caps and Closures market. In addition, growing innovations by the brand owners to widen their customer base together with expansion in application portfolio further fuels the growth in demand for the sprinkle caps market. Furthermore, one of the recent trends in the sprinkle caps market is the growth in the use of Plastic as material in comparison to other traditional materials such as aluminum, tinplate etc.
Despite witnessing favorable growth opportunities, there are restraints in the sprinkles caps market that can impact the growth in this industry. One of the major factor that can dampen the demand in the sprinkle caps market is the competition from flexible packaging industry as products like pouches etc. can replace the containers that require caps and closures and ultimately prove to be a hindrance for growth in the sprinkle caps market.
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Sprinkle Caps Market- Regional Outlook:
Geographically, the Sprinkle Caps market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). Asia Pacific is expected to witness the maximum growth in the sprinkle caps market primarily driven by the growth in the developing countries like India and China. The changing customer habits in these developing nations that make customers switch from unpackaged to more convenient and packaged food products clubbed with increasing purchasing power, growth in the retail industry fuels the demand for the sprinkle caps market in this region.
The North America and Europe regions are expected to witness an average growth rate in the sprinkle caps market owing to the saturation of end use markets in these regions. However, Latin America and MEA is expected to witness an above average growth driven by the growth in the developing economies of these regions.
Sprinkle Caps Market- Key Players:
Some of the leading players identified across the globe in the Sprinkle Caps market are: Polyoak Packaging, Kornelis Caps & Closures BV, United Caps Luxembourg S.A., Junghans, RPC Containers Ltd, Säntis Packaging AG, O.Berk Company, Synergy Packaging Pty Ltd etc.