Caps & Closures: Global Market Intelligence (2023-2030)

REPORT OBJECTIVES

The report "Caps & Closures: Global Market Intelligence (2023-2030)" provides market intelligence on the different market segments, based on type, raw material, application, and geography. Market size and forecast (2023-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY

In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents- selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE

Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES

The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT

The global caps & closures market is expected to grow at a CAGR of more than 5% from 2023 to 2030. The global caps and closures market is expected to witness steady growth in the coming years, driven by factors such as the increasing demand for convenience and safety in the food and beverage industry. Caps and closures play a vital role in ensuring the safety and freshness of packaged products, and their popularity has increased with the growing demand for packaged food and beverages. Another factor driving the growth of the market is the increasing demand for sustainable packaging solutions. Caps and closures made from eco-friendly materials such as bioplastics and recycled materials are gaining popularity, as consumers become more environmentally conscious and demand sustainable packaging options.However, factors such as the volatility in raw material prices and the increasing competition from alternative packaging solutions such as pouches and sachets may limit the growth of the market to some extent. Nevertheless, the increasing demand for convenience, safety, and sustainability in packaging is expected to drive the growth of the global caps and closures market in the coming years.

The caps & closures market in USA & Europe is saturated and hence the market in Asia-Pacific, African, and South American countries is growing.

The key players in this market are Ball Corp, Berry Plastics, Amcor, AptarGroup, RPC Group, Crown Holdings, and Silgan Holdings among many others.

Sprout Intelligence expert team projected the global caps & closures market in 2018 was worth around USD 50 billion.