Plastic Caps and Closures Market | Key players operating in the market include Berry Group, Crown Holding, AptarGroup, Amcor, BERICAP

According to recent market research the "Plastic Caps and Closures Market by Product Type (Screw-on Caps, Dispensing Caps), Technology (Injection Molding, Compression Molding, Post-mold TE Band), Raw Material (PP, HDPE, LDPE), End-use (Beverage, Pharmaceutical), Region - Global Forecast to 2025 ", The global plastic caps and closures market size is projected to grow from USD 44.3 billion in 2020 to USD 57.0 billion by 2025, at a CAGR of 5.2% from 2020 to 2025. Plastic caps & closures are used to seal contents within containers, safeguard the packaged product, and to extend the shelf life of the product. The cost-effectiveness, low weight, and compatibility of plastic caps & closures play a crucial role in the growth of the overall market. The plastic caps & closures find their application in various end-use sectors, such as beverage, pharmaceutical, food, and personal & home care, among others. Increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are major factors driving the plastic caps & closures market.

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In terms of value, the post-mold TE band segment is projected to account for the largest share of the plastic caps & closures market, by technology, during the forecast period.

In the post-mold technology, slitting is a secondary operation to achieve tamper-evident plastic caps & closures. The molding and slitting of plastic caps & closures in the injection or compression molding machine are time-consuming and capital intensive. Therefore, the slitting of plastic caps & closures is a separate process as this process is cost-effective and time-effective against slitting in the molding machine.

A plastic screw closure is a well-engineered product that is screwed on and off on a container. These closures contain either continuous threads or lugs. It must be engineered and designed to be cost-effective, compatible with contents, easy to open; provide an effective seal; and should comply with the product, package, and environmental laws and regulations. In the beverages industry, plastic caps & closures are tamper-resistant, which further helps tackle the issues of counterfeiting. A tamper-evident band is a common tamper warning for screw caps of bottles.

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It is very important to maintain the quality of pharmaceutical products during the manufacturing process. Pharmaceutical products can be contaminated through air particles, dust, and microorganisms. To avoid contamination, plastic caps & closures are used to seal the medicines in the pharmaceutical industry. The packaging of healthcare products is of utmost importance to protect the contents from air, dust, and moisture. An increase in chronic ailments, an increase in the aging population, and a rise in disposable income in developing nations drive the demand for healthcare products, thereby driving the demand for plastic caps & closures.

North America is projected to be the fastest-growing market for plastic caps & closures during the forecast period. The increase in consumption of CSDs and packaged food, high disposable income levels, and growth in demand for convenience food are supporting the market in North America. Improvements in the economic situation and rise in demand for innovative packaging also contribute to the growth of the plastic caps & closures market. The growth in this region, especially in the US, has been exponential over the last five years. Plastic closures have been replacing every possible type of closures in North America.

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Berry Global held the leading position in the global plastic caps & closures market. The company has maintained its leadership position through its strong distribution network across Europe, North America, South America, Asia, and other developing countries. It continues to expand its capacity by adopting inorganic strategies, such as acquisitions across the world. Berry Global is focusing on expanding manufacturing facilities in developing markets to increase production capacities to meet the demand for caps & closures.

In July 2019, Berry Global Group acquired RPC Group for approximately USD 6.5 billion. This acquisition helped create a leading global supplier of value-added protective solutions and one of the world's largest plastic packaging companies. In addition, the company has broadened its global footprint consisting of over 290 locations worldwide, including in North and South America, Europe, Asia, Africa, and Australia.

Amcor is the second-largest player in the plastic caps & closures market. The company has its presence in North America, Europe, Asia Pacific, and in emerging markets. It is one of the leading companies engaged in the manufacturing and distribution of both plastic and aluminum caps & closures. The company focuses on increasing its profitability by strengthening customer relations and expanding its presence by adopting both inorganic and organic strategies, such as agreements and contracts in emerging markets while optimizing operational performance.

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