In spite of the economic slowdown, global beverage closure demand has continued to grow, according to a report from UK beverage research company Canadean.
Drivers of the growth include a shift towards pre-packaged beverage consumption in developing markets and by growing popularity of single-serve PET bottles.
According to Canadean’s new report, Innovation in Beverage Closures, 2011, plastic accounted for 42% of beverage closures in 2010. Metal closures were second at 31%, ring-pull closures were third at 24%, and others accounted for 3%.
In the years between 2003 and 2010, plastic closures saw their volumes increase at around 6.5% per year.
Geographically, Asia accounts for 36% of total annual closure volume. The second largest markets are North America, at 23%, Western Europe at 17% and Latin America at 15%.
Not only is Asia already the largest market for closures, but it is also the fastest growing, with an annual growth rate above 7% between 2003 to 2015 – double the global average.
Of the 1,055 billion beverage closures sold in 2010, 58 percent were for soft drinks, 31% for beer and 11% for dairy drinks.
Canadean says each sector has exhibited positive overall growth in the period 2003 to 2010 and it expects that to continue: beer at the same rate, a compound annual growth rate of 2.7%, dairy at 4.1% per year (against 4.7% in the years to 2010) and soft drinks at 4.1% (up from 3.9%).
Global demand rising for plastic closures