Caps and Closures Market

Caps and Closures Market Market Research
Report By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Caps and Closures Market Market Research Report - Forecast to 2023
Global Caps & Closures Market, By Material (Plastic, Metal, and others), By Type (Caps, Closures, Corks,
Stoppers, Cans, and others), By End-User (Food & Beverage, Pharmaceutical, Cosmetics, Automotive and
Others) And Region - Forecast 2017-2023.
Caps & closures play an important role in packaging, and they include containers such as caps, cans, and others. It helps in
the process to extend shelf-life of the products and provide a barrier to dirt, moisture, and oxygen. Rising demand for
bottled water and smaller packaging sizes from the end-user industries such as food, beverage, and healthcare, and rising
concerns toward product quality and safety are some of the factors improving caps & closure market growth. Increasing use
of packaging driving the growth of the caps and closures market.
Recent Trend shows that people are moving towards packed goods in the emerging countries such as India and China.
Moreover, technological improvements, replacement of metal closures with glass or plastic food containers, such factors
helps to use caps & closures for consumer products and in industrial applications, to protect, market, and distribute a
variety of products. Global demand for caps & closure will advance due to a worldwide trend favoring demand for packaged
food products. According to study, caps & closures market is expected to reach the market size of USD 65.12 billion by the
end of forecast period with CAGR of ~5.2% between 2017 and 2023.
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.
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Caps and Closures Market Market Research Report - Forecast to 2023
Segmentation - Caps and Closures market
The global caps & closures market is segmented into mainly three segments namely, by materials, type, and end users.
Market categorization on the basis of product type includes caps, closures, corks, stoppers, cans, and others. On the basis of
materials, it includes Plastic, Metal, and others. Plastic resin such as polypropylene (PP) and polyethylene (PE) are widely
used with PP expected to be the fastest-growing sub-segment. Light weighted, cost-effective, and can be used to package
various types of products belonging to different industries such as food & beverage, pharmaceutical, others.
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.
A key trend is the growing preference for synthetic corks and screw caps over natural corks. Whereas, Heavy promotion of
Go-green projects and eco-friendly concepts by government providing an opportunity to the caps and closure market.
Further, the requirement of eco-friendly caps and closures, which use more recycled such as wood and paperboard are
increasing. By using eco-friendly materials, can reduce wastage and used for product differentiation and brand building.
Caps & Closures can be used in many ways to enhance the durability of various components and products. The major raw
materials used in the manufacturing of caps and closures are Plastic and metal. Caps and closures industry uses a different
type of materials to construct suitable product packagings, such as plastics, metals, rubber, and paperboard. Plastic is
chemically resistant, inexpensive and lightweight with a wide range of physical and optical properties. In fact, many plastics
are heat sealable, easy to print, and can be integrated into production processes where the package is formed, filled, and
sealed in the same production line.
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Caps and Closures Market Market Research Report - Forecast to 2023
Segmentation
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Caps and Closures Market Market Research Report - Forecast to 2023
Global Caps & Closures market: By Material
On the basis of geography, the market has been segmented into North America, Europe, Asia Pacific and RoW.
Geographically, Asia Pacific dominates the global Caps & Closures packaging market with the largest market share. Hygiene
consciousness, a shift in preference from unpackaged to packaged food items, use of closures on popular container types
are some of the factors which fueling the market growth. With the booming packaging industry worldwide, the global
market for caps and closures is expected to grow. The demand for packaged products has been increasing in the Asia-Pacific
region, majorly due to the changing lifestyle and the rise in purchasing power. This will lead to an increased demand for
plastic caps & closures, thus fueling the market growth.
Key Players
The major player operating in the market of global caps & closures are Rexam PLC (U.K), Berry Plastics Corporation (U.S.),
AptarGroup Inc. (U.S.), RPC Group Plc. (U.K.), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Reynolds Group Holdings
Limited (New Zealand), and Silgan Holdings Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & KG
(Germany).
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