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Global Caps & Closures Market foretold to be worth US $ 65.12 bn by 2023 due to rising concerns towards food safetyCaps & closures are necessary for packaging, and they include containers that help to extend shelf-life of the products and become a barrier to dirt, moisture, and oxygen. Market Research Future (MRFR) has published a research report on the global caps & closures market that foretells gains for this market at 5.2% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 65.12 bn by the end of the forecast period.
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The acute factor progressing the global caps & closures market growth is the rising demand for bottled water as well as smaller packaging sizes from the end-user industries. Other factors assisting the market growth include technological improvements, rising concerns toward product quality as well as safety, replacement of metal closures with glass or plastic food containers, innovation in packaging, and increased consumption of processed foods & beverages. However, the stringent regulations on packaging material waste as well as recycling and fluctuating raw material prices.
Key Players
The key players in the global caps & closures market include
• Amcor Limited (Australia)
• AptarGroup Inc. (USA)
• BERICAP GmbH Co. & KG (Germany)
• Berry Plastics Corporation (USA)
• Crown Holdings Inc. (USA)
• Guala Closures Group (Italy)
• Rexam PLC (UK)
• RPC Group PLC (UK)
• Reynolds Group Holdings Limited (New Zealand)
• Silgan Holdings Inc. (USA)
Latest Industry News
Switzerland-based Corvaglia group, a leader in the global caps & closures market has completed its first manufacturing facility in the USA in Newnan, GA. Inauguration of the new facility is on 5 APR 2019.
UK-based packaging solutions company PACCOR has launched new lightweight bottle closures that contain 13% less plastic.
United Caps (Luxembourg) a leading caps and closure producer announced the acquisition of Embalatap (Spain) a notable closure manufacturer the acquisition will strengthen company’s product portfolio, as Embalatap’s product range will now be marketed under the United Caps name.
Bericap India Private Limited, a global manufacturer of plastic closures announced that it has started online promotion of its recently launched product ‘e-smoCap’ for e-liquids, targeting the fast-growing e-cigarette market. The company has also launched a YouTube video to promote the product’s consumer-friendly features. Childproof, e-smoCap closure is made from recyclable polymers.
Market Segmentation and Geographic Overview
The global caps & closures market has been segmented on the basis of end-users, material, type, and lastly, region. Based on end-users, this market has been segmented into automotive, cosmetics, food & beverage, pharmaceutical, and others. The material-based segmentation segments the market into metal, plastic resins {polypropylene (PP) & polyethylene (PE)}, and others. By type, the market has been segmented into caps, closures, corks, stoppers, and others.
The regional segmentation of the global caps & closures market has segmented the market into regional markets known as Asia Pacific, North America, Europe, and the rest of the world (RoW). The Asia Pacific region holds the largest market share in the global market. Major factors enriching to the market growth in this region include hygiene consciousness, changing lifestyle, use of closures on popular container types, growing consumer goods manufacturing, growing packaging industry, presence of some key market players, rise in purchasing power, a shift in preference from unpackaged to packaged food items, expanding production capacities, and growing demand for packaged products. The cream of the Asia Pacific market in terms of revenue includes India, China, and Japan, followed by the remaining countries of the Asia Pacific region.
North America is the second largest regional market due to the growing penetration of end-user industries in this region, especially in the USA. Other factors leading to the market growth in this region are technological advancement, strict regulations set by the government regarding hygiene, and the presence of many key market players. After the USA, Canada is the most important country-specific market in this region.
Europe is the fastest growing regional market that has a substantial share in the global market due to extensive demand for the caps & closures technologies. Some of the major market players are based in Europe too. In Europe, the significant country-specific markets are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
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Scope of Report
The report for Global Caps & Closures Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued.........
List of Tables
Table 1 Global Caps & Closures Market: by Region, 2017-2023
Table 2 North America Caps & Closures Market: by Country, 2017-2023
Table 3 Europe Caps & Closures Market: by Country, 2017-2023
Table 4 Asia-pacific Caps & Closures Market: by Country, 2017-2023
Table 5 Row Caps & Closures Market: by Country, 2017-2023
Table 6 Global Caps & Closures Market by Materials, by Regions, 2017-2023
Table 7 North America Caps & Closures Market by Materials, by Country, 2017-2023
Table 8 Europe Caps & Closures Market, by Materials, by Country, 2017-2023
Table 9 Asia-pacific Caps & Closures Market by Materials, by Country, 2017-2023
Table 10 Row Caps & Closures Market by Materials, by Country, 2017-2023
Continued.......
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