‘Opportunity For Growth’
Responding to this, the Aluminium Closures Group, a German group that represents the aluminium closures sector, has described this recovery as an opportunity for growth therein.
Aluminium screw caps are commonly used in the spirits sector, which benefits from resealing, the group noted.
Approximately 80% of the international market and 90% of Europe’s spirits sector use aluminium screw caps, according to Euromonitor International.
The market grew by 100 million units in 2021 – up by 6% for on- and off-trade markets outside Europe, and 20% for on-trade consumption inside Europe, Euromonitor added.
“Undoubtedly, the figures for the rest of the world – by far, the biggest market – are still weak, but the factors affecting many of these countries, such as ongoing tourism and travel restrictions, as well as more lockdowns, continued to weigh and, even here, on-trade showed healthy positive growth,” said Anja Holthoff-Schlegel, an Aluminium Closures Group representative. “The current 12 months should see stronger recovery in all areas.”
Elsewhere, a recent study by IWSR found that consumer demand for premium ready-to-drink (RTD) products looks set to drive the category forward in the coming years, with value growth outpacing volume growth, at 8% versus 5% CAGR 2022-26.
The study explored growth in the RTD category across ten focus markets – Australia, Brazil, Canada, China, Germany, Japan, Mexico, South Africa, the UK, and the US – and found that volumes across said markets are set to grow by 24% over the next five years.