19-Jan-2022 | Facts and Factors
According to facts and factors, the worldwide demand for the caps and closures was valued at approximately USD 61.6 billion in 2020 and is predicted to create revenue of roughly USD 85.0 billion by the end of 2026, with a CAGR of approximately 5.5% between 2021 and 2026.
Caps & closures play a significant role in packaging and they include containers such as cans, caps and others. It helps in the process to extend the shelf life of the products and provides a barrier to dirt, oxygen and moisture. Rising demand for smaller packaging sizes and bottled water from the end-user industries such as beverage, food and healthcare, and rising concerns towards product safety and quality are factors improving caps & closure market growth. The rising use of packaging is driving the growth of the caps and closures market.
Some of the factors reflect the importance of plastic containers in numerous markets and the growing prevalence of plastic closures on other container types. The outlook for plastic closures will be constrained by the high penetration of plastic containers in most markets and a lack of new large volume applications. Despite ongoing losses due to inroads by plastic closures and the resurgence of aluminium cans in the beer market, units will increase modestly based on greater use of roll-on closures with wine and opportunities for screw and lug closures with ready to drink beverages such as iced tea and coffee, which are frequently packaged in glass.
Major players operative in the caps and closures market is Agropur Cooperative, Amcor Limited, AptarGroup Inc., BERICAP GmbH Co. & KG, Berry Plastics Corporation, Blackhawk Molding Company Incorporated, Capsugel Inc., Cap & Seal Pvt. Ltd., Closure Systems International, Crown Holdings Incorporation, Guala Closures Group, Oriental Containers, Pact Group Holdings, Phoenix Closures, Pelliconi, Plastics Corporation, Plastic Closures Limited, Premier Vinyl Solution, Rexam PLC, Reynolds Group Holdings Limited etc. and among others.
Market Dynamics
To estimate the total attractiveness of the caps and closures market, current and prospective caps and closures industry trends are outlined. The technological advancements in packing solutions play a crucial role in driving the demand for caps and closures. Advanced technology has allowed companies to incorporate innovation in products instead of sticking to traditional ones. Due to this, several companies are investing in research & development and are coming up with technically advanced products with properties such as extended shelf life, better sealing capabilities, reusability and leakage proof. Such properties efficiently uphold the quality and consistency of food items while extending their shelf life without using additional preservatives.
Asia Pacific is projected to dominate global Caps and Closures market growth
Throughout the projected period, Asia-Pacific is anticipated to be the fastest-growing regional market. Asia-Pacific led the global caps & closures market. Asia-Pacific comprises two high-growing economies like India and China. The living standard is improving in this region, which is accelerating the per-capita spending on the packaging. Hectic lifestyles result in the demand for packaged products for on-the-go consumption. This consequently leads to the demand for closures that are easy to open can be re-sealed, and those that keep the products fresh for a longer period. Economies such as Malaysia, Singapore and Indonesia offer significant opportunities for the caps & closures market.
Browse the full “Global Caps and Closures Market Size, Share & Trends Analysis Report By Type (Plastics Caps & Closures, Metal Caps & Closures, Others), By Product Type (Dispensing Caps, Screw Closures, Crown Closures, Aerosol Closures, Others), By Raw Material (Plastic, Metals, Others), By Technology (Injection Molding, Compression Molding, Post-Mold Tamper-Evident Ban, Others), By End-use Industry (Food, Beverages, Healthcare, Cosmetics & Toiletries, Others), By Region, And Segment Forecasts, 2021–2026” report at https://www.fnfresearch.com/caps-and-closures-market
The global caps and closures market is segmented as follows:
By Type:
- Plastics Caps & Closures
- Metal Caps & Closures
- Others
By Product Type:
- Dispensing Caps
- Screw Closures
- Crown Closures
- Aerosol Closures
- Others
By Raw Material:
By Technology:
- Injection Molding
- Compression Molding
- Post-Mold Tamper-Evident Ban
- Others
By End-use Industry:
- Food
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Healthcare
- Cosmetics & Toiletries
- Others (Chemical and Automotive)
By Region:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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