Closures for Spirits Market size is estimated to be USD 5.2 Billion in 2024 and is expected to reach USD 7.8 Billion by 2033 at a CAGR of 4.8% from 2026 to 2033.
The global caps and closures market, which includes closures for spirits, was valued at USD 73.49 billion in 2023 and is projected to grow to USD 125.10 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.18% during the forecast period. Asia Pacific dominated this market with a share of 35.31% in 2023. The global spirits sector recorded value sales of $797.7 billion in 2023, with Asia Pacific accounting for a significant value share of 53.1%. This substantial share indicates a strong demand for spirits in the region, thereby driving the need for closures.
Opportunities in the closures for spirits market are influenced by the growing craft spirits segment. The global craft spirits market was valued at USD 21.40 billion in 2023 and is expected to grow at a CAGR of 28.4% from 2024 to 2030. This rapid expansion presents a significant opportunity for closure manufacturers to cater to the unique packaging needs of craft distilleries. Additionally, the increasing preference for premiumization in the spirits industry is driving demand for innovative and aesthetically appealing closures, further propelling market growth.
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Guala Closures
Labrenta
Amcor
Ipercap
Herti
Torrent
Global Closure Systems
Hicap
Alcopack
FOB DECOR
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Closures for Spirits Market
Whiskey
Vodka
Rum
Gin
Tequila
Brandy
Others
Low Alcohol Spirits (up to 20% ABV)
Standard Alcohol Spirits (20-40% ABV)
High Alcohol Spirits (above 40% ABV)
Glass Bottles
Plastic Bottles
Cans
Others
Online Retailers
Supermarkets/Hypermarkets
Liquor Stores
Specialty Stores
On-trade (Bars, Restaurants, Pubs)
Millennials
Generation X
Baby Boomers
Other Age Groups
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Closures for Spirits Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Closures for Spirits Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Closures for Spirits Market, By Type
6. Global Closures for Spirits Market, By Application
7. Global Closures for Spirits Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Closures for Spirits Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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