Global caps and closure market accounted for a market revenue of USD 47 billion in the year 2019 and is projected to grow at a CAGR of more than 5%. Caps and closure are primarily used for the sealing of bottles and containers. It offers a wide variety of benefits, including longevity and versatile applications in many industries. This also provides a physical, flexible and lightweight safety from corrosion and in effect increases product demand. Caps and locks secure the product against unwanted opening and provide a protection against water, oxygen and humidity. It is used mainly in the packaging field for the safety and durability of items.
The primary purpose of the packaged product is to improve the food and beverages 'shelf life, as well as improve the product's capacity to retain the taste, smell and colour. The business landscape is being encouraged by continued development across the whole industry to develop eco-friendly caps and closures by utilizing the recycling process and natural ingredients.
Key Segments Across Caps and Closures Market
- Type Overview, 2018-2025, (USD Billion)
- Applications Overview, 2018-2025, (USD Billion)
- Food & Beverage
- Regional Overview, 2018-2025, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Caps and Closures. Benchmark yourself against the rest of the market.
- Be prepared for how glass industry investments and Caps and Closures will be impacted by socio-political and economic factors over the next few years
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on the global Caps and Closures includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of Type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Caps and Closures. The report will benefit:
- Every stakeholder involved in manufacturing and distributing components or solutions.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global Caps and Closures.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for T&D investment trends in global Caps and Closures.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The increased demand for fresh water and growing product characteristics impacts the sector's landscape. The continuing production of alternatives in tandem with emerging markets in developing markets has, however, hindered the growth of the industry. Nevertheless, continued research activities, coupled with increased business efforts to create an ecologically sustainable product is projected to improve the development of the business. Furthermore, increasing revenue from the middle class, along with the continuous penetration of goods across developed countries, would complement market perspectives on the timeline.
On the basis of type, the market is segmented into plastic, metal, and others. Plastic caps and closure is projected to dominate the global caps and closure market. On the basis of application, the market is segmented into Food & Beverage, Pharmaceutical, Cosmetics, Automotive, Others.
In terms of region the global Caps and Closures market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. Asia Pacific accounted for a major market revenue share and is projected to show similar trend over the forecast period.
Key players involved in this industry include Global Closure Systems, Silgan Holdings, Reynolds Group Holdings, Crown Holdings, Berry Plastics Corporation, Berlin Packaging, Guala Closures Group, Manaksia Ltd., Alpha Holdings GmbH