Market Research Report
Caps & Closures - Global Market Outlook (2020-2028)
|Caps & Closures - Global Market Outlook (2020-2028)|
Published: June 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Caps & Closures Market is accounted for $66.66 billion in 2020 and is expected to reach $119.77 billion by 2028 growing at a CAGR of 7.6% during the forecast period. Rising demand from end-use industries, product differentiation and branding and decreasing pack sizes are driving the market growth. However, innovation and new substitutes is hampering the growth of the market.
The main function of caps and closures is to keep the container closed and the contents contained for the specified shelf life. In addition, it acts as a barrier to oxygen, dirt and moisture and keeps the product secure from undesired premature opening. Caps and closures are largely used in the packaging industry to preserve products to extend their shelf life.
Based on the material, the plastic segment is going to have lucrative growth during the forecast period due to high mechanical strength, high stiffness, high resistance to wear and corrosion, and thus making it perfect material. By geography, Asia Pacific is going to have high growth during the forecast period owing to increasing investments and growing end-user industries for the market.
Some of the key players profiled in the Caps & Closures Market include Alpha Packaging, Amcor plc, AptarGroup, Inc, Berlin Packaging, Berry Plastics Corporation, Closure Systems International, Inc., Crown Holdings, Guala Closures S.p.A., Pact Group Holdings, SABIC, SIG Combibloc Group Ltd. and Silgan Closures GmbH.
All the customers of this report will be entitled to receive one of the following free customization options:
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in the same manner as above.