Plastic Caps and Closures Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Type (Screw Caps, Dispensing Caps, and Closures), By Material (Polypropylene, Polyethylene and Polystyrene), By End-User (Food & beverages, Pharmaceutical and Personal Care), By Region – Forecast to 2023
Global Plastic Caps and Closures Market Set to Surpass a Valuation of USD 51000 Mn by 2023
As per Market Research Future (MRFR), the global plastic caps and closures market is poised to strike a CAGR of 5.225 during the forecast period 2018 to 2023. The market valuation is expected to touch USD 51,919.8 Mn towards the end of 2023. Rapid urbanization coupled with elevated standards of living has led to an upsurge in demand for packaged food and beverages. This, in turn, is forecasted to catapult the plastic caps and closures market on an upward trajectory.
Investments are likely to flow towards the market for innovation of new and greener ways for packaging. The increasing environmental concerns regarding the use of plastic in the packaging industry has opened new avenues of growth opportunities for the market participants. Additionally, strict enforcement has encouraged the key players to adopt greener means for the production of packaging materials. For instance, the use of sugar cane for manufacturing caps is one of the latest trends witnessed in the market. It is forecasted to have a favorable impact on the expansion of the plastic caps and closures market in the forthcoming years.
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Plastic caps and closures offer extended shelf life, better sealing capabilities, leakage proof usage, and reusability. It is presumed to intensify its demand across different verticals such as food & beverage, personal care, etc. On the flip side, the availability and price of the raw materials remain an impediment to the market growth.
Some of the key players profiled in the report are-
- Amcor Limited
- Global Closure Systems
- Comar LLC
- Silgan Holdings Inc.
- Aptar Group
- Phoenix Closures Inc.
- Reynolds Group Holdings
- J.L. CLARK
- Guala Closures Group
Recent Industry Developments:
In July 2018, Henkel’s Adhesive Technologies has collaborated with Borealis’ mtm plastics for the development of recyclable Made-at-Home bottle and cap.
In August 2018, United Caps and Braskem, a Luxembourg-based manufacturer of caps and closures, has launched bio-sourced plastic caps and closures that are made from sugar cane.
In August 2018, JUST Goods, Inc., an eco-friendly bottled water company, has launched JUST Water brand which uses bio-based plastic for bottle caps.
In September 2018, Carlsberg, a global brewer, has rolled out its “Snap Pack,” which comprises six beer cans packed together. The company has also invested in the improvements of caps for bottle packaging.
By materials, the plastic caps and closures market has been segmented into polypropylene, polyethylene, and polystyrene.
By type, the global plastic caps and closures market has been segmented into screw caps, dispensing caps, and closures.
By end-users, the plastic caps and closures market has been segmented into food and beverages, pharmaceutical, and personal care.
The global plastic caps and closures market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is currently dominating the global market and is projected to strike a healthy CAGR over the assessment period. The factors that are likely to have a positive influence on the expansion of the plastic caps and closures market in the region include changing lifestyle, the growth of beverage industry, increasing research & development for better packing solutions, etc.
Europe is a significant growth pocket expected to grow substantially in the foreseeable future. The maximum demand for plastic caps and closures in the region is likely to be generated from the personal care industry owing to the rising inclination towards hygiene and beauty products. The growth of the healthcare and pharmaceutical industry of the region also reflects on the expansion of the plastic caps and closures market. It is likely to follow a similar trend in the forthcoming years, thus, augmenting the market.
Asia Pacific is prognosticated to exhibit steady but constant growth across the review period. The stable economic growth rate of the fast-developing economies has augured well for the regional market. This, in turn, is poised to expedite the market growth over 2023.
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The report covers the latest trends in the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections. MRFR’s report includes a thorough analysis of the global plastic caps and closures marketsegmented on the basis of type, material, end-user, and region with astute insights.
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 List Of Assumptions
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.2.1 Growing Demand From Food & Beverage Industry
4.2.2 Innovation In Packaging
4.2.3 Drivers Impact Analysis
4.3.1 Fluctuation In Raw Material Prices
4.3.2 Stringent Regulations Regarding The Use Of Plastic And Recycled Materials
4.3.3 Restraints Impact Analysis
4.4.1 Scope In Developing Countries
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Europe Food and Drink Industry, 2014-2015
Table 4 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Usd Million)
Table 5 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Million Units)
Table 6 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Weight-th Mt)
Table 7 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Usd Million)
Table 8 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Million Units)
Table 9 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Weight-th Mt)
Table 10 Global Plastic Caps and Closures Market, by End-user, 2016-2023 (Usd Million)
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