The global heat induction cap liner market value is expected to rise from US$ 664.1 million in 2024 to US$ 862.4 million by 2034. This estimated growth is expected to be driven by a CAGR of 2.60% in the heat induction cap liner industry over the next decade.
Consumption of bottles is rising due to the growing global demand for bottled water. Bottle packaging format has necessitated the demand for heat induction cap liners to guarantee product integrity and purity, and prevent any leakages.
Heat induction cap liners are being used in different bottles composed of various plastic materials like PET, PP, HDPE, and PVC, etc. The product is used in multiple end use industries like pharmaceuticals, food and beverages, etc., which is increasing the market’s value.
Pharmaceutical companies adhere to tamper-resistant packaging guidelines dispensed for certain over-the-counter drug products. This is increasing the use of heat induction cap liners.
Existing players in the market are expanding their operations to meet the surging demand generated via heightened demand for bottled water and food and beverages. Recent trends in the market include rising investments in research and development activities by leading players to increase efficiency and reduce overall costs.
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“Key players are projected to find opportunities in developing countries where demand for packaged goods is increasing at a drastic rate. Additionally, players are focusing on constant innovations to stay relevant among end users,” says an analyst of Future Market Insights.
Key Takeaways from the Heat Induction Cap Liner Market Report
- The heat induction cap liner market grew at a CAGR of 2% from 2018 to 2023. The market value increased from US$ 589.7 million in 2018 to US$ 651.1 million in 2023.
- Based on application, the bottles segment is projected to acquire a value share of 51.3% in 2024.
- By end use, the food segment is expected to obtain a market share of 23.8% in 2024.
- In North America, the United States is a key market for heat induction cap liners. The United States market is anticipated to register a CAGR of 1.7% through 2034.
- In Europe, Spain is projected to expand at a CAGR of 2.5% from 2024 to 2034.
- India is expected to record a CAGR of 4.7% through 2034, whereas China is projected to record a CAGR of 3.7% during the same time.
Competitive Landscape
Companies are developing new and refined liners that are compatible with different packaging materials. By doing so, they can meet the demands of varying consumer preferences and industries. Industry participants are exploring new opportunities in high-growth regions like Asia Pacific and Latin America, where demand for packaged goods is rapidly increasing. In addition to this, players are expanding their application base, by going beyond the traditional food and beverage sector like cosmetics, pharmaceuticals, and chemicals.
Key players are further strengthening their market positions by pursuing mergers and acquisitions and developing strategic partnerships with other players. This strategy is quite effective in increasing product portfolios, gaining a competitive edge, and attaining new customer segments. Market participants are also focusing on sustainable practices as environmental concerns gain prominence.
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Heat Induction Cap Liner Market by Category
By Material:
- Rubber
- Metal (foil)
- Plastic
- Paper
Based on Application:
- Bottles
- Jars
By End-user:
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Homecare
- Chemicals and Fertilizers
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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