The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2016
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Retail sales of food and beverage closures are on the rise and will likely maintain this trend to 2020. This growth is primarily driven by a significant shift from unpackaged water and dairy towards packaged varieties in the developing world. Despite this, brand owners will need to innovate with packaging and closures in order to boost the challenged performance in beer as well as demand for a greater consumer experience in saturated food markets.
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In 2015 the volume of global retail closures reached 1.4 trillion units, marking 2% growth from 2014, driven by a rise in consumption in all regions.
Food and drinks accounted for 95% of the global demand for closures thanks to the growing demand for smaller sized products in mature regions and the wider penetration of packaged products in less developed regions.
China, India and the US continue to drive food and drinks growth in volumes, while other Asian and Latin American countries such as Vietnam and Indonesia are additionally ensuring that it continues to go upwards.
Plastic screw closures continues to be the most popular closure type for food and beverages. While for beverages this growth comes mainly from the rise of PET bottles and the pursuit of lighter overall packaging, in packaged food it is driven by resealable and on-the-go trends.
Although plastic screw closures and peel-off foil continue to be on the rise, consumers are increasingly seeking more functional closures such as push-pull, flip-tops in soft drinks and zip/press closures notable in dairy and confectionery foods categories.
Metal crowns and corks were once the main closures for glass bottles in beer and wine, respectively, but as these fail to meet consumer demand for easy resealability, metal screw closures are threating to overtake the older closure types given steep volume growth in recent years. Nevertheless, thanks to premiumisation trends these closures are set to show positive growth over the forecast period.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.