Caps and Closures Market 2020 - Financial Overview, Size, Trends, Segments, Key Players like Rexam, AptarGroup, Berry, RPC and more - Forecast 2023
Global Caps and Closures Market information 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 2023
Caps and Closures Market Synopsis
Caps and closures are extensively used in the packaging industry for sealing commodities. It restricts the air to get inside the container. Thus, extending the shelf life of the product. In this report by Market Research Future (MRFR), it has been revealed that the global caps and closures market is supposed to expand at 5.2% CAGR over the prognosis period 2017 to 2023. The valuation of the global market is estimated to reach USD 65.12 Bn by the close of the forecast period.
Caps and closures are used extensively in the food & beverage industry. The industry leaders invest a considerable fraction of total investments in packaging innovations. Emphasis is placed on convenient and easy to handle packaging. These factors have led toa rise in packaging demand for caps and closures that offer convenience. In addition, these products can be used for products of any form - both solid and liquid. It is supposed to drive the growth of the caps and closures market in the foreseeable future. Increasing demand for beverages is a major driver of the market. Increasing focus on flavor innovation and the introduction of new beverages is expected to boost revenue generation in the plastic caps and closures market in the coming years.
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The pharmaceutical industry is also anticipated to generate high demand for the product in the near future. Children and senior citizens are mostly advised to take syrups and tonics for illnesses. This, in turn, is anticipated to have a favorable influence on the caps and closures market over the next few years. Rising patient population and increasing geriatric population are expected to emerge as the drivers of the market in the near future. Also, rising drug development and discovery are prognosticated to have a positive impact on the growth curve of the caps and closures market.
Packaging industry has been witnessing a change in regulations. The rising concerns regarding the recyclability of plastic have changed the trends in the industry. Material innovation is the new trend that is projected to catapult the caps and closures market on upward trajectory.
Rexam PLC (U.K)
AptarGroup Inc. (U.S.)
Berry Plastics Corporation (U.S.)
RPC Group Plc. (U.K.)
Amcor Limited (Australia)
Crown Holdings Inc. (U.S.)
Guala Closures Group (Italy)
Reynolds Group Holdings Limited (New Zealand)
Silgan Holdings Inc. (U.S.), and BERICAP GmbH Co. & KG (Germany)
are some of the key players of the caps and closures market.
On the basis of material, the caps and closures market has been segmented into plastic, metal, and others.
Based on type, the caps and closures market has been segmented into caps, closures, corks, stoppers, cans, and others.
On the basis of End-User, the caps and closures market has been segmented into food & beverage, pharmaceutical, cosmetics, automotive and others.
This report on the global caps and closures market by MRFR includes a regional assessment that covers the following segments - Europe, Asia Pacific, North America, and the Rest of the World (Row). These regional segments are also analyzed on the level of countries for providing an impactful intelligence. Asia Pacific, among these regions, is expected to lead the global market. Rising hygiene concerns and rise in standard of living have led to a shift from unpackaged to packaged food products. It is supposed to drive the growth of the caps and closures market in the region. Increasing growth rate of the end-user industries is also projected to catalyze expansion of the regional market in the nearby future. Moreover, the growth of the pharmaceutical industry is also poised to influence the regional market favorably.
TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
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
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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