Watch: Beverage Caps Sales Will Increase Through 2021
Closures for bottled water will post the largest gains among established beverage categories. The reason being – packaging components and materials are seeing shifts among top-performing segments as well as evolving demands. The Freedonia Group predicts that caps and closures used for beverages will reach 1.5 trillion units in 2021. This projection is based on 3.5 percent annual growth. In terms of unit market share, bottled water’s closure usage will account for 35 percent, with “other beverages” being the next largest with 29 percent of market share. Beer and carbonated soft drinks are expected to decline their closure market share through 2021, accounting for 18 percent and 17 percent, respectively. This is in part due to consumers looking for healthier drinks with less sugar. This has impacted the way brands are positioning themselves.
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