The screw top lids market is anticipated to grow between 3.0% and 5.0% CAGR during the assessment period of 2021–2031. The market is expanding as a result of rising demand from the beverage and pharmaceutical industries.
Globally, total demand is anticipated to increase, thanks to improved manufacturing efficiency and adaptability.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Screw Top Lids market is expected to grow at a healthy CAGR during the forecast period (2021–2031). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Screw Top Lids in the coming 10-years.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Screw Top Lids
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Screw Top Lids market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Screw Top Lids Market Takeaways and Projections
- The U.S. is expected to lead the North America Screw Top Lids market, projecting the fastest growth in the region between 2021 and 2031
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.
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Report Benefits & Key Questions Answered
- Screw Top Lids Historical Market Analysis: The detailed survey by FMI, examines key factors in the Screw Top Lids market that affected the growth in the market for the last assessment period 2016–2020 and also studies their consequent impact. It also provide refined the sales projection of the Screw Top Lids market for the forecast period 2021–2031.
Screw Top Lids Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Screw Top Lids for the assessment period. As per the study, the demand for Screw Top Lids will grow at a robust CAGR between 2021 and 2031.
- Screw Top Lids Market Trend Analysis: The latest study by FMI on the Screw Top Lids market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Key Segments
By Material Type:
- Aluminum
- Plastics
- others
By Application:
- Pharmaceutical industry
- Food & Beverages
- Cosmetics
- Others
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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