The Caps and Closure market is set to rise in the coming years. The demand for raw plastic materials across the globe for commercial and business use is expanding. If the caps and closure market is on the rise, you can also expect to increase plastic container bottles, dispensing units, and airless packaging.
Global Forecast 2015 – 2021
The caps & closures market size is estimated to grow from USD 49.78 billion from 2015 to USD 68.71 billion for 2021, at a CAGR of 5.62%. The caps & closures market is driven by factors such as – rising demand from end-use industries such as healthcare, food, and beverage and growing concerns toward quality and safety of the product.
Plastic as a raw material is projected to be the fastest-growing segment in the next five years. Plastic caps & closures are made from a wide range of polymers such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). Plastic caps & closures can be easily formed, high quality, cost-effective, and provide excellent barrier properties and design freedom; hence, they are preferred for sealing products.
The Asia-Pacific market is projected to be the fastest-growing market during the forecast period. It is also projected to have the largest market share due to increasing commercialisation and increased demand for packaged goods in the region. China and India’s markets are projected to be lucrative due to their rising middle-class population and rising consumer spending on packaged products.
The research methodology used to estimate and forecast the caps & closures market includes the top-down and bottom-up approach. The total market size of caps & closures was calculated based on the percentage split of types of caps & closures (plastic, metal, and other types of caps & closures) as well as on the percentage spilt of different raw materials and end-use industries. After arriving at the overall market size, the total market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the following figure:
The various key caps & closures providers profiled for an increased demand include;
- Raepak Ltd (U.K.)
- M&H Plastics (U.K.)
- RPC Group PLC (U.K.)
- Crown Holdings Incorporation (U.S.)
- Amcor Limited Plc (Australia)
- Rexam PLC (U.K.)
- Berry Plastics Corporation (U.S.)
- Silgan Holdings Inc. (U.S.)
- AptarGroup Incorporated (U.S.)
- Guala Closures Group (Italy)
- BERICAP GmbH Co. & KG (Germany)
- Reynolds Group Holdings Limited (New Zealand)
- Plastic (polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, polycarbonate, and polystyrene)
- Metal (aluminum and steel)
- Others (glass, wood, rubber & elastomers, and paperboard)
- Plastic caps & closures (screws, dispensing caps, liquid carton closures, plastic lotion pumps, plastic aerosol sprays, others)
- Metal caps & closures (screw & lug cans, cap ends, crown caps, others)
- Other caps & closures (corks, glass stoppers, rubber stoppers, others)
- Beverage industry (alcoholic and non-alcoholic beverages)
- Food industry
- Healthcare industry
- Cosmetics & toiletries
- Others (chemical and automotive industry)
We are learning, from our consumer research, that the caps and closures market is growing at a significant rate; particularly in the areas of personal & home care products, pharmaceuticals and cosmetics. “The global caps & closures market volume reached 2,312.0 billion in 2018”. (Reuters.com)
The Big Boom
The reason for this caps and closures boom? Plastic containers, which generally employ plastic caps and closures, will continue to dominate the market at the expense of metal, glass and paperboard packaging due to:
- Cost competitiveness
- Resistance to shattering
- Graphics potential
To top it off, plastic containers also offer heat resistance and design flexibility.
The caps and closures market is looking like it will witness robust growth in years to come. Take a look at our selection and, if the cap fits, why not get in touch?
The Future of Dispensing
Giving the ability to dose a concentrated liquid in a small container will be of significant importance in the future. Gone are the days of large containers, using too much water in liquid products and marketing – volume as a price comparison.
We know this because we have created a dosing cap that will change how brands and consumer buy their products.
These caps will reach the growing market this year. Recognised household brands are already testing the dosing cap and responding to consumer feedback and testing. Working on product innovations like these has a huge impact on the following:
- Less waste
- Less energy to make products
- Less carbon emissions
- Less water consumption
- Less weight for transport and consumer shopping bags
- Less raw material (oil) needed to make plastic end products
- Less knowledge for the busy consumer as everything is taken care of.
If you have any questions regarding Raepak’s innovations, caps and closures? Please get in touch; we would love to help with your future products.