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Cap Applicators Market to Witness Double Digit CAGR by 2021
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The global food and beverages industry has experienced an exponential growth in the past years. Also, this industry contributes a considerable share in the packaging industry. Hence, it plays an important role—either directly or indirectly—in the development and growth of the packaging industry. In addition, owing to the technological advancements in the food and beverages industry, such as in packaging machinery that includes combo-machines of rinsing, liquid fillers, and capping, the cap applicators market is highly influenced in terms of growth and demand for these applicators. Thus, the food and beverages industry will act as the major growth driver the global cap applicators market in the near future. Moreover, product manufacturers providing with new configurations and versions of caps and closures for packaging their products is also anticipated to boost the demand for cap applicators in the global market. On the other hand, small-scale manufacturers opting for used or refurbished capping machines are expected to hinder the growth of the global cap applicators market in future.
On the basis of machine type, the global cap applicators market is segmented as automatic capping machine, semi-automatic capping machine, and hand-held capping machine. Based on the cap type, the global market is segmented as ROPP caps, screw caps, snap-on caps, crown caps, and corks. On the basis of end-use, the global market is further segmented as food & beverage, pharmaceutical, personal care, consumer products, and others. The others segment is further sub-segmented as chemical products and automotive fluids. Geographically, the global cap applicator market is segmented as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
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Asia Pacific is anticipated to be the largest market for cap applicators owing to ample opportunities provided by the region to packaging machinery manufacturers. This trend is followed by Europe and North America mainly due to the high demand for cap applicators in these regions. In addition, Latin America and the Middle East & Africa are also expected to show a considerable growth in the near future.
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Some of the major players dominating the global cap applicators market are Krones AG, Tetra Pak, Crowns Holdings Inc., Closure System International, Bosch Packaging Technology, Technical Group, and Federal Mfg. Co. Other key players influencing the global market are E-PAK Machinery, Inc., Accutek Packaging Equipment Companies, Inc., Karmelle Liquid Filling & Capping Solutions Limited, and IC Filling Systems Ltd.
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