Market Overview:
The global closures for spirits market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for premium and craft spirits across the globe. In addition, the growing trend of using customized closures for different types of spirits is also contributing to the growth of this market. The global closures for spirits market can be segmented on the basis of type, application and region. On the basis of type, it can be divided into aluminium, plastic and other types such as cork and wood. Among these, plastic is expected to witness highest growth during the forecast period owing to its properties such as durability and resistance against corrosion. On the basis of application, it can be classified into commercial use and personal use segments. Commercial use segment dominates this market due to rising demand from food & beverage industry across different regions globally .
Product Definition:
Closures for Spirits are a type of closure that helps seal the top of a bottle of spirits. They are important because they help to keep the spirits fresh and prevent them from becoming tainted.
Aluminium:
Aluminum is a metal and has the chemical symbol Al. It is silvery in color, soft (but not ductile) and lightweight. It can be easily recycled. The element occurs in nature as bauxite and is also produced from mining; mainly by the Bayer process (a two-step process).
Plastic:
Plastic is a synthetic material that can be categorized as a polymeric substance derived from crude oil. The most commonly used plastic is Polyethylene (PE), which finds its major application in the packaging of spirits. Other types of plastics include Polypropylene (PP), Polystyrene (PS), and High-DensityPolyethylene (HDPE).
The global closure market for spirits was valued at USD 1,37,000 million in 2016.
Application Insights:
The commercial use of closures was the largest application segment and accounted for more than 70.0% share of the global revenue in 2017. The product is widely used in bars, pubs, clubs and restaurants to serve spirits such as whiskey, rum, vodka and other cocktails. It is also used by hotels and resorts for serving cocktails to their customers along with some light snacks or meals. Personal use closure devices are expected to be the fastest-growing segment over the forecast period owing to increasing interest among individuals regarding home cocktail making without having any formal training in mixology or bartending skills. This can be attributed to a rise in popularity of online mixology tutorials on various websites including YouTube that provide easy step-by-step guides on how consumers can make basic as well as advanced cocktails at home using common household ingredients along with Closure Shoppe¢â‚¬â„¢s products such as sugar syrup, bitters & spices kits etc.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of producers and consumers of spirits, which has led to an increase in demand for closures over the years. China, India, Japan, South Korea are some of the largest markets for alcohol-based beverages in Asia Pacific.
Europe accounted for more than 25% share in terms of revenue.
Growth Factors:
- Increasing demand for premium and craft spirits: The global market for premium spirits is expected to grow at a CAGR of more than 5% during the forecast period. This is mainly due to the increasing demand for high-quality and artisanal products.
- Growing popularity of cocktails: Cocktails are becoming increasingly popular, especially among millennials. This has led to an increase in the demand for flavored and infused spirits, which are used in cocktails.
- Rising disposable income: A growing number of people are now able to afford premium brands of liquor, thanks to rising disposable incomes around the world. This is driving growth in the sales of high-priced liquors and spirits brands.
Scope Of The Report
Report Attributes
Report Details
Report Title
Closures for Spirits Market Research Report
By Type
Aluminium, Plastic, Other
By Application
Commercial Use, Personal Use
By Companies
Guala Closures, Labrenta, Amcor, Ipercap, Herti, Torrent, Global Closure Systems, Hicap, Alcopack, FOB DECOR
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Closures for Spirits Market Report Segments:
The global Closures for Spirits market is segmented on the basis of:
Types
Aluminium, Plastic, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Use, Personal Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Guala Closures
- Labrenta
- Amcor
- Ipercap
- Herti
- Torrent
- Global Closure Systems
- Hicap
- Alcopack
- FOB DECOR
Highlights of The Closures for Spirits Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Aluminium
- Plastic
- Other
- By Application:
- Commercial Use
- Personal Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Closures for Spirits Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Closures for spirits is a term used in the wine industry to describe a type of closure that is used on wine bottles. Closures for spirits are made from natural or synthetic materials and are designed to prevent the escape of oxygen and other gases during storage, transport, and consumption of wine.
Some of the major companies in the closures for spirits market are Guala Closures, Labrenta, Amcor, Ipercap, Herti, Torrent, Global Closure Systems, Hicap, Alcopack, FOB DECOR.
The closures for spirits market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Closures for Spirits Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Closures for Spirits Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Closures for Spirits Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Closures for Spirits Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Closures for Spirits Market Size & Forecast, 2020-2028
4.5.1 Closures for Spirits Market Size and Y-o-Y Growth
4.5.2 Closures for Spirits Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Aluminium
5.2.2 Plastic
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Personal Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Closures for Spirits Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Closures for Spirits Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Aluminium
9.6.2 Plastic
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Personal Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Aluminium
10.6.2 Plastic
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Personal Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Aluminium
11.6.2 Plastic
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Personal Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Aluminium
12.6.2 Plastic
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Personal Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Aluminium
13.6.2 Plastic
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Personal Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Closures for Spirits Market: Competitive Dashboard
14.2 Global Closures for Spirits Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Guala Closures
14.3.2 Labrenta
14.3.3 Amcor
14.3.4 Ipercap
14.3.5 Herti
14.3.6 Torrent
14.3.7 Global Closure Systems
14.3.8 Hicap
14.3.9 Alcopack
14.3.10 FOB DECOR
