Market Research Report
Caps & Closures - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||521358|
|Published||Content info||159 Pages
Delivery time: 2-3 business days
|Caps & Closures - Global Market Outlook (2017-2026)|
|Published: September 1, 2018||Content info: 159 Pages||
According to Stratistics MRC, the Global Caps & Closures Market is accounted for $52.23 billion in 2017 and is expected to reach $96.98 billion by 2026 growing at a CAGR of 7.1% during the forecast period. Factors such as increased consumption of processed foods & beverages, innovation in packaging, increasing demand from the end-user industries are some of the factors which pushed the market towards growth. However, Caps & Closures has various restraints that hinder the market growth such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling, as well as growing demand for the substitutes such as blister.
Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, crown cap, snap on, friction fit, tamper evident, and dispersing. Caps and closures find a broad range of application in numerous industries such as beverages, cosmetics, chemicals, and pharmaceuticals. The material used to manufacture caps and closures must possess excellent balance of stiffness and toughness along with good chemical resistance. Generally, caps and closures of lightweight and high toughness are preferred in the market.
By raw material, plastic segment is witnessing major market share due to the shift in container mix generally favoring plastic over metal and glass. Plastic containers and closures offer a number of advantages, including lighter weight, reduced losses due to breakage, and a wider range of design options and metal screw caps continue to grow in the wine market.
Based on end user, beverage segment is witnessing largest growth because of the increasing consumption of beverages and innovative packaging solutions are expected to drive the market. The shifting demand of consumers from carbonated soft drinks to bottled drinks is expected to fuel the demand for caps and closures in this segment. The urbanized population is shifting toward healthy and safe packaged food and emerging economies such as India, China, and Brazil have changed their buying patterns by purchasing more packaged foods owing to the increasing disposable incomes.
On the basis of geography, Asia Pacific is considered as the fastest growing market with majority of its demand impending from packaging applications. Asia Pacific is expected to grow at the fastest rate owing to increasing investments and growing end user industries for caps & closures market.
Some of the key players in caps & closures market include RPC Group, Crown Holdings, Amcor, Rexam , Silgan Holdings, Berry Global, AptarGroup Inc., Guala Closures Group, BERICAP GmbH Co. & KG, Blackhawk Molding Co Inc, Ball Corporation , Pact Group Holdings, Global Closure Systems, Reynolds Group Holdings Limited, Oricon Enterprises Ltd., Pact Group Holdings, Agropur Cooperative and Closure Systems International.
Raw Materials Covered:
End Users Covered:
What our report offers:
NOTE: Tables for North America, Europe, Asia Pacific, South America, Middle East & Africa are represented in the same manner above.