Plastic Caps and Closures Market Global Research Report 2018 Analysis & Forecast to 2023

08/mag/2018 09:11:42 Monica Nerkar Contatta l'autore

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Caps & Closures are an important part of packaging and containers such as bottles, cans, tubes, stand-up Pouches and others. Often, they do not only serve to open the container, but also offer the option to reseal it. The market for plastic caps and closures is profiting substantially from an increasing use of packaging. Moreover, rising demand for bottled water and smaller packaging sizes will provide stimuli to the growth in the future. The quality of plastic caps & closure market is improving continuously, thus providing better access to the contents of the pack with such caps and closures.

Plastic caps and closures are by far the largest industry segment and are benefitting more from the higher use of metal and glass containers than the traditionally used materials in many food and beverage applications. Caps and closures help in the process of extending shelf-life of products and providing barrier to dirt, moisture, and oxygen. In addition, the trend of moving from unpacked goods to packed goods in developing countries such as India and China is increasing the demand for caps & closures. In addition, technological improvements have enabled certain plastic closures to replace metal closures on glass food containers. Such packaging material is used for consumer products and in industrial applications, to enable protection, marketing, and distribution of a variety of products.

The market is driven by various factors such as increased consumption of processed foods & beverages, innovation in plastic packaging, and the reusability of Plastic. The higher disposable income in these developing countries has increased their purchasing power. As a result, the market has been impacted, positively. However, plastic caps & closures market faces restraints such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling, which hinder the market growth.

The market for global plastic caps & closures is segmented mainly on the basis of raw materials, product type and end-use. Market categorization, on the basis of product type includes screw caps, dispensing caps and other plastic caps. On the basis of raw materials, it includes polypropylene, polyethylene, polystyrene and other resins. Plastic resin such as polypropylene (PP) and polyethylene (PE) are widely used, while PP is expected to be the fastest-growing sub segment. Plastic caps & closures are projected to emerge as the fastest-growing type in caps & closures market as it is light weight, cost effective, and can be used to package various types of products belonging to different industries. On the basis of end-use, it has been segmented as food & beverage, pharmaceutical, others.

Plastic caps & closures market is expected to reach the market size of ~USD 61.71 billion by the end of the forecast period with CAGR of ~5.2% between 2017 and 2023.

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Regional Analysis:

On the basis of geography, the market has been segmented as North America, Europe, Asia Pacific and RoW. Geographically, Asia Pacific dominates the global plastic caps & closures packaging market with the largest market share. As caps & closures are used widely in various industries, such as food& beverages, and healthcare, the market has been witnessing major growth, to become a large market for these packaging solutions. Moreover, increase in consumer income has led a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand of plastic caps & closures products.

Key Players: 

The major player operating in the market of global plastic caps & closures are RPC Group Plc (UK), Reynolds Group Holdings Limited (New Zealand), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Rexam PLC (UK), Berry Plastics Corporation (U.S.), Silgan Holdings Inc. (U.S.), AptarGroup Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & KG (Germany).

Information Source : https://www.marketresearchfuture.com/reports/plastic-caps-closures-market-4920 

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