A thirst for soft drinks in Asia has helped to sustain growth in the global beverage closures market over the past couple of years, according FoodProductionDaily.com.
Citing Canadean, a drinks market research specialist company, the report said the Asia and the popularity of plastic bottles have ensured continued market buoyancy.
Canadean estimates that total demand across the soft drinks and beer markets stood at 1055 billion closures in 2010 (including plastic and metal closures, plus ring-pulls). And over the tough economic period of 2008-2010 overall global growth was 2.2%.
Asia is the big success story in closures. The region already has a 36% share of the market and is estimated to be on track for 7% annual growth between 2003 and 2015.
The transformation of China from an export-orientated manufacturing economy to one of growing domestic consumption is the key factor in behind this figure.
All beverage closure types are growing in the region although Canadean analyst Dominic Cakebread was quoted saying that the strongest growth is in sports caps, carton closures, plastic screw caps and other (largely plastic) closures.
North America and Western Europe, meanwhile, are eking out growth rates of less than 1% per annum.
