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Global Caps & Closures Market is Expected to Reach $96.98 Billion by 2026

GAITHERSBURG, Maryland, Aug. 21, 2019 /PRNewswire/ -- According to Stratistics MRC, the Global Caps & Closures Market is accounted for $52.23 billion in 2017 and is expected to reach $96.98 billion by 2026 growing at a CAGR of 7.1% during the forecast period.

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Some of the key players in caps & closures market include RPC Group, Crown Holdings, Amcor, Silgan Holdings, Berry Global, AptarGroup Inc., Guala Closures Group, BERICAP GmbH Co. & KG, Blackhawk Molding Co Inc, Ball Corporation , Pact Group Holdings, Global Closure Systems, Reynolds Group Holdings Limited, Oricon Enterprises Ltd., Agropur Coopérative and Closure Systems International.

Factors such as increased consumption of processed foods & beverages, innovation in packaging, and increasing demand from the end-user industries are some of the factors which pushed the market towards growth. However, Caps & Closures have various restraints that hinder the market growth such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling, as well as growing demand for the substitutes such as a blister.

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Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, crown cap, snap on, friction fit, tamper evident, and dispersing. Caps and closures find a broad range of application in numerous industries such as beverages, cosmetics, chemicals, and pharmaceuticals. The material used to manufacture caps and closures must possess excellent balance of stiffness and toughness along with good chemical resistance. Generally, caps and closures of lightweight and high toughness are preferred in the market.

By raw material, plastic segment is witnessing major market share due to the shift in container mix generally favoring plastic over metal and glass. Plastic containers and closures offer a number of advantages, including lighter weight, reduced losses due to breakage, and a wider range of design options and metal screw caps continue to grow in the wine market.

Based on end user, beverage segment is witnessing largest growth because of the increasing consumption of beverages and innovative packaging solutions are expected to drive the market. The shifting demand of consumers from carbonated soft drinks to bottled drinks is expected to fuel the demand for caps and closures in this segment. The urbanized population is shifting toward healthy and safe packaged food and emerging economies such as India, China, and Brazil have changed their buying patterns by purchasing more packaged foods owing to the increasing disposable incomes.

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On the basis of geography, Asia Pacific is considered as the fastest growing market with majority of its demand impending from packaging applications. In addition to this, the increasing investments and growing end user industries for caps & closures market is propelling the market in the region.

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Types Covered:

  • Metal Caps & Closures
  • Plastic Caps & Closures
  • Other Caps & Closures 

Raw Materials Covered:

  • Metal
  • Plastic
  • Other Raw Materials

End Users Covered:

  • Healthcare
  • Cosmetic & Toiletry
  • Food
  • Automotive
  • Pharmaceutical
  • Beverage
  • Other End Users

Regions Covered:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

What our report offers:

- Market share assessments for the regional and country level segments

- Market share analysis of the top industry players

- Strategic recommendations for the new entrants

- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets

- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements

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About Stratistics MRC

We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.

Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

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Organization: Stratistics Market Research Consulting Pvt Ltd
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Website: https://www.strategymrc.com


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