Dosing Caps Market To Expand with Significant CAGR By 2024
Global Packaging industry continues to grow at an impressive rate. As a result, caps & closure market is undergoing huge change with specialized focus on offering innovative capping tools/products to various industries. Caps & closures are primarily made to provide product safety, maintain product quality, extend product storage and for several other aspects. One of the most promising innovation that caps & closure market has witnessed in recent time is the introduction of dosing caps. Dosing Caps are generally used to store dry or liquid supplements separately from water. The main objective associated with dosing caps is to store the supplements separately from the water, as it forms a vitamin or energy drink and sometimes even a medicinal drink, when the supplement is released from the bottle.
Dosing Caps Market - Market Dynamics:
One of the significant factors contributing towards the growth of the dosing caps market is the rampant growth in beverage industry. Moreover, growing preference for liquid nutrient in medicine sector, as it is generally claimed that pills & capsule release only 10-15% of the nutrient value while travelling through the body, whereas liquid nutrient can release up to 80-90% of the nutrient value, fuels the growth in the liquid nutrient market. Furthermore, consumer generally prefer drinking their supplements than taking pills or capsule, which is expected to drive the market for liquid nutrient which in turn boosts the demand for dosing caps market. Increasing demand for ready to drink nutritional product such as energy and protein drink across the globe is further expected to drive the market for dosing caps over the forecast period.
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Low barriers to entry has resulted in increasing competition in the global caps & closure market. This has encouraged the manufacturers to introduce new and advance form of caps & closure. As a result most of the dosing caps companies are providing customization and innovation in their current product portfolio as per the changing needs of the customers. In addition, the dosing caps market is also fragmented due to presence of several local and regional players and to gain the market share, these manufacturers offer innovative capping solution at a lower price than multinational players, resulting in intense price wars. This factor can act as a restraining factor for the growth in the dosing caps market. Furthermore, it is expected that large multinational players can acquire the smaller regional players which might result in the consolidation of dosing caps market over the forecast period.
Dosing Caps Market- Market Segmentation:
Global dosing caps market is segmented on the basis of material, product type and end use. On the basis of material, dosing caps market can be segmented into Plastic, Metal and others. Adding to this metal is further segmented into aluminum & steel. On basis of product type dosing caps market can be segmented into flip top, push down, push pull and dispensing cap. On the basis of end use, dosing caps market is segmented into Beverages industry, Food industry, Healthcare industry, Cosmetics & toiletries and others.
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Dosing Caps Market - Regional Outlook:
Geographically, the global Dosing Caps market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global Dosing Caps market is expected to witness a significant CAGR over the forecast period of 2016-2024. Moreover, APAC dominates the global dosing caps market and the trend is expected follow the same over the forecast period due to growing food & beverages market in this region. Additionally, the evolution of the retail sector in the growing economies such as India & China is further expected to boost the sales of dosing caps market in Asia Pacific by the end of the forecast period of 2016-2024. Europe is expected to follow APAC in dosing caps market over the forecast period, while rest of the world is expected to witness a steady growth during the forecast period.
Dosing Caps Market - Major Players:
Some of the major players identified across the globe in the Dosing Caps market are BlastMax, WildCaps Dosing Cap Solutions, Taplast S.p.A., Vicap System Ltd., Stiplastics SA, Teamplast B.V., VitalZing International Limited, B-Cap, Global Closure System, INCAP Infusion Cap Technology Ltd.
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