Press release
Gable Top Caps and Closure Market - Current Insight with Future Aspect Analysis | 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.Research Report: https://www.transparencymarketresearch.com/pressrelease/gable-top-caps-closure-market.htm
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.
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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.
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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.
About Transparency Market Research
Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
About Transparency Market Research
Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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