Top Caps And Closures Market is Projected to Grow at a Healthy CAGR of 5.7% | Insights by TMR

Top players operating in the global gable top caps and closure market include O. Berk., Berry Global, Inc., Closure Systems International, Inc., Silgan Plastic Closure Solutions, Elopak Inc., International S.A., Tetra Pak, UNITED CAPS LUXEMBOURG S.A, Evergreen Packaging Inc., and BERICAP GmbH & Co. KG, finds Transparency Market Research (TMR). To consolidate their shares in the market, leading companies are adopting multi-thronged strategies featuring a combination of organic and inorganic growth measures. Among the chief strategies adopted by several players, focusing on collaborations and acquisitions and diversified product portfolio are the prominent ones. For instance, Amcor Limited, engaged in offering flexible and rigid packaging, consider organic and inorganic growth strategies helpful to bolster their positions in the global market. Focused on strengthening its foothold in the rigid plastic segment, the company has boosted its manufacturing capacity to offer a wide varieties of produces to end users.

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A number of players are also focusing on promising avenues in untapped regions, notably those in Asia Pacific, in a move to fuel the sales of their products. Developing products for emerging variety of needs of end-use industries is also likely to help several manufacturers gain a competitive edge over others in the market.

The global gable top caps and closures market was worth US$48.5 mn in 2016 and is projected to clock a CAGR of 5.7% 2017 to 2025. Expanding at this pace, the market will touch a valuation of US$79.1 mn by the end of 2025.

The key product types are screw caps and flip caps. Of these, the former led the global market with a dominant share in 2016. The share is anticipated to increase further over the years and is estimated to be reach a worth of 4,019 million units, vis-à-vis consumption, by the end of the forecast timeline.

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Geographically, Asia Pacific accounted for the leading share of the global market in 2016 and collected a substantial revenue of US$19.4 mn at the end of 2016. The dominance of the regional market can be attributed to burgeoning use of gable top caps and closures for beverages packaging. North America trails this region and is expected to rise at a modest pace, on account of the saturated nature of the regional market.

Several Superior Attributes of Gable Top Packaging over Traditional Ones to Drive Demand

The gable top caps and closure market is primarily driven by the rising demand for this type of packaging for a wide variety of products in numerous application areas, notably food and beverages. The popularity of gable top caps and closures and their superiority when compared to many traditional packaging is stoked by several factors. Gable top offer robust barrier protection, ease of stacking, and marked convenience in storing and transportation. The striking design of gable top enable manufacturers and producers to print significant branding information on the body of the packaging. Coupled with a visually attractive product packaging and innovative designs that are increasingly appealing to consumers, the demand for gable tops continues to gather steam in various developing regions. This is turn is bolstering the demand for gable top caps and closure, thereby accentuating the market. The widespread use of gable top packaging for packing milk, dairy, and other beverages is a prominent factor boosting the market. The rising use of gable top caps and closure for packaging a variety of fresh and aseptic products is accentuating the market's growth.

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Rising demand for Environment-friendly Packaging for Consumer Goods to Bolster Uptake

However, the volatility of the prices of petroleum products has adversely affected manufacturers of gable tops, thereby impeding the growth of the gable top caps and closure. World over, the intensifying demand for environmental-friendly packaging materials in several application areas such as for packing food, paints and lubricants, pet food, and beverages, has created lucrative prospects in the market. Gable top caps and closures being eco-friendly are expected to bolster uptake. In addition, the ample scope of brand differentiation possible through gable tops is a crucial factor catalyzing the growth of the market.

Key Takeaways

The demand for gable top caps and closures is driven by several attractive features of gable top packaging over traditional ones.
The demand for environment-friendly packaging for a wide range of consumer goods, especially food and beverages, is expected to open lucrative avenues in various regions.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Gable Top Caps and Closure Market (Product - Screw Caps and Flip Caps; Material - PP and PE (HDPE, LDPE, and LLDPE); Application - Food (Prepared Foods, Dairy Products, Ice Cream Mix, Edible Oil, and Confectionaries), Beverages (Alcoholic (Beer and Wine)and Non-alcoholic(Milk, Fruit Juice, and Ready to drink beverages)) , Laundry and Detergents, Paints and Lubricants, and Pet Food; Diameter - 25mm to 35mm, 35mm to 45mm, and 45mm to 60mm) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025"

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