The global caps
and closures market is
likely to experience remarkable growth over the assessment period. Much of the
market’s expansion is attributed to the phenomenal rise in the popularity of
the packaged beverages and food products worldwide.
Most of the demand for cap and closure in unit terms is
meant for low-cost commodity types like metal crowns and plastic screw caps.
The value growth of the global caps and closures market is projected to be
stimulated by the rising utilization of better closure solutions in various
packaging for beauty care and pharmaceuticals. Value gains of the global caps
and closures market highly likely to fuelled by rising consumer preference for
hassle-free yet highly secured closures.
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Pact Group Holdings, Silgan Holdings, Closure Systems
International, Plastics Corporation, Aptar Group, and Plastics Corporation are
few of the renowned companies in the global caps and closures market.
A report on global caps and closures market has been
prepared by Transparency Market Research (TMR), which predicts the market to
register a growth rate of 5.2% CAGR during the assessment period, from 2015 to
2021. The global caps and closures market is estimated to reach value worth US$
51.57 bn through 2021.
Growing Popularity of Packaged Food and Beverage Products
will Fuel North America Market
Latin America, Asia Pacific, Middle East and Africa, Europe,
and North America comprise the major regions in the global caps and closures
market.
North America his estimated to hold the position of one of
the leading producers of the global caps and closures market during the period
of assessment. Growing popularity for beverages like packaged juices, alcoholic
drinks, and energy drinks are likely to accelerate the growth of the market in
the next few years to come. In addition to that, caps and closures also find
increased use in the pharmaceutical industry, which is likely to offer copious
expansion opportunity of the caps and closures market in North America.
Augmented use of caps and closures in the pharmaceutical and
beauty care products is projected to offer growth opportunities to the market
in the Europe region. The market is likely to experience growth in Latin
American, driven by Brazil over the period of review. Food and Beverage sector
together with beauty care products will spearhead the growth of the caps and
closures market in the region.
Strict Government Regulations in the Pharmaceutical
Industry to Accentuate Demand
Value and unit gains of the global caps and closures market
in the pharmaceutical sector are triggered by the constant increase in the
output of the pharmaceutical sector. Along with that, drug manufacturers need
to comply with the rules and regulations related to seniors friendly, child
friendly lay down by the government. Security features are of utmost importance
in the packaging of various drugs. Growth of the global caps and closures
market is aloes likely to be supported by the augmented utilization high-end
dispensing closures. These closures facilitate in the delivery of topical, oral
liquid and some selected medicines.
Increased consumption of alcoholic drinks such as beer has
across the globe is triggering demand in the alcoholic beverage market, which
in turn is necessitating the use of caps and closures to secure the content.
Metal screw closures and metal crowns for bottles are rapidly substituting
corks that are found in the wine bottles. Therefore, the global caps and
closures market are likely to get considerable value gains from this segment
over the review period.
Furthermore, the non-alcoholic segment including products
like carbonated soft drinks, bottled water are also likely to offer
considerable growth opportunities for the caps and closures market. Growing
preference over bottled water over carbonated drink is another trend that is
projected to influence the market in the forthcoming years.
On the flip side, the entry of flexible packaging solutions
is likely to adversely affect the expansion of the global caps and closures
market over the assessment period. Notwithstanding, the market is expected to
gather momentum form the increased investment in discovering new designs,
materials, and technologies of caps and closures are likely to encourage growth
of the market.
The information shared in this review is based on a TMR
report, bearing the title, “Caps and closures market (Product – Food Caps and
Closures and Beverages Caps and Closures; Application – Alcoholic Beverages and
Non Alcoholic Beverages) – Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2015 – 2021.”
The global caps and closures market is segmented based on:
Product
- Food
Caps and Closures
- Beverages
Caps and Closures
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Application
- Alcoholic
Beverages
- Non
Alcoholic Beverages
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