A recent report from MarketsandMarkets suggests the caps and closures market will be worth 68.71 Billion USD by 2021.
The caps & closures market size is estimated to grow from USD 49.78 Billion in 2015 to USD 68.71 Billion by 2021, at a CAGR of 5.62%. Browse 198 market data Tables and 51 Figures spread through 199 Pages and in-depth TOC on “Caps & Closures Market”
The report “Caps & Closures Market gives specific products likely to rise over the next 4 years. These include:
Plastic Caps & Closures
- Screw Caps
- Dispensing Caps
Metal Caps & Closures
- Screw & Lug
- Can Ends
- Crown Caps
Other Caps & Closures
Caps & Closures Variables
Other plastic caps and closures not on the report are also available. some of these include:
- Flip top caps
- Over caps
- Dosing cap
The global market for caps and closures is dominated by players such as
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).
Uk Distribution – Supplier
End-use industries such as beverage and healthcare to gain maximum traction during the forecast period.
The beverages segment dominated the market in 2015 and is projected to be the second-fastest-growing end-user industry in the next five years, as a result of the rising consumer demand for beverage products such as bottled water and beer as well as growing demand for quality and safe products. Furthermore, the healthcare segment is projected to be the fastest-growing end-use industry due to the rising consumption of pharmaceutical and medical products.
Plastics as a raw material to play a key role in the caps & closures market
The report defines and segments the caps & closures market on the basis of raw material into plastics, metal, and others. The plastics segment is projected to contribute the largest market share as it is light in weight and cost effective, whereas metal will have the next largest market share from 2016 to 2021. The plastics segment is further divided into its subsegments such as polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others. Out of these, polypropylene is projected to be the fastest-growing subsegment as it does not crack under stress and has good resistance to almost all types of chemicals, including strong acids, alkalis, and most organic materials.
The Asia-Pacific region leads the market due to its large population and its proven identity of a major manufacturing hub that offers production opportunities at affordable costs to companies. As caps & closures are used widely by different industries, such as food, beverages, and healthcare, the Asia-Pacific region, which is witnessing major growth in these sectors as well, has become a large market for these packaging solutions. This is followed by North America, which is the next largest market for caps & closures followed by Europe and Rest of the World.