Press release
Caps And Closures Market Forecast 2024-2033 - Size, Share Analysis And Top Major Players
Caps And Closures Market
The Business Research Company's Caps And Closures Global Market Report 2023 identifies rising demand for alcoholic beverages as the major driver for the Caps And Closures market's growth in the forecast period. Alcoholic beverage refers to any fermented liquor containing ethyl alcohol or ethanol (CH3CH2OH), as an intoxication agent, such as beer, wine, or distilled spirit. Cap and closures are used in alcoholic beverages for safe and effective sealing solutions to guarantee product freshness, avoid leakage and assure regulatory compliance.
The caps and closures market size has grown strongly in recent years. It will grow from $73.17 billion in 2023 to $77.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer packaging trends, food and beverage industry growth, pharmaceutical packaging needs, environmental concerns.
The caps and closures market size is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
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Major competitors in the Caps And Closures market are Reynolds Group Holdings Limited, WestRock Company, Ball Corporation, Amcor PLC, Crown Holdings Incorporation, Sonoco Products Company.
A key trend in the Caps And Closures market includes increasing environmental concerns and regulations. The use of plastic caps and closures has been a significant concern for environmentalists, as they are non-biodegradable and can take hundreds of years to decompose. The increasing awareness of environmental issues has led to the implementation of stringent regulations on the use of plastic caps and closures in many countries. For instance, in July 2021, the European Union banned the use of single-use plastics like balloon sticks, straws, cotton buds, and cutlery including plastic caps and closures, to reduce plastic waste and pollution.
Read More On The Global Caps And Closures Market Report Here:
https://www.thebusinessresearchcompany.com/report/caps-and-closures-global-market-report
The Caps And Closures market is segmented -
• By Type: Screw Caps, Dispensing Caps, Other Types
• By Raw Material: Plastic, Metals, Others Raw Materials
• By Technology: Injection Molding, Compression Molding, Post-Mold Tamper-Evident Band
• By End-User: Food, Beverage, Healthcare, Cosmetics And toiletries, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Caps And Closures market.
The Business Research Company's "Global Caps And Closures Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Caps And Closures Market Include:
1. Executive Summary
2. Caps And Closures Market Characteristics
3. Caps And Closures Market Trends And Strategies
4. Caps And Closures Market - Macro Economic Scenario
5. Global Caps And Closures Market Size and Growth
…
32. Global Caps And Closures Market Competitive Benchmarking
33. Global Caps And Closures Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Caps And Closures Market
35. Caps And Closures Market Future Outlook and Potential Analysis
36. Appendix
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