Global Caps and Closures Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Market expansion is expected to be fueled by rising demand for a variety of culinary products as well as alcoholic and non-alcoholic drinks. Caps and closures operate as a barrier between the packaging contents and ambient air, light, and dust particles, extending the product's shelf life. Because food and beverage packaging are susceptible to microbial attack, tight seals are required. As a result, the containers must be covered with a food-grade material. Caps and closures are also used in the pharmaceutical, personal care, home care industries, and the automobile industry.

Data Bridge Market Research analyses that the caps and closures market was valued at USD 72.55 billion in 2021 and is expected to reach USD 112.18 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022 to 2029. The plastic segment by material is anticipated to hold the largest market share. The market for plastic caps and closures is being driven by a growth in demand for bottled water, a desire for convenience, concerns about product safety and security, product distinctiveness and branding, and shrinking package sizes. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.     

Market Definition

The fundamental aim of caps and closures is to keep the container sealed and the contents safe for the specified shelf life. It also acts as a barrier against dirt, moisture, and oxygen and prevents objects from being opened too quickly. Caps and closures are commonly used in the packaging business to safeguard goods and extend their shelf life. Caps and closures are made of a variety of materials such as plastic, metal, rubber, and wood to ensure correct packaging.

Report Scope and Market Segmentation

Caps and Closures Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising awareness about benefits of healthy eating

Surging awareness of the benefits of healthy eating is expected to stimulate demand for dietary supplements, which will drive demand for packaging products even higher. In a 2020 consumer survey on dietary supplements, the Council for Responsible Nutrition (CRN) found that 98 percent of respondents used vitamins and minerals, followed by 44 percent who used herbals and botanicals, 30 percent who used sports nutrition, and 19 percent who used weight management supplements. All of these reasons are projected to help the market expand.

• Emerging demand of plastic caps and closures

Growing demand for plastic caps and closures is estimated to drive the caps and closures market growth. The need for plastic caps and closures is booming rapidly. Plastic caps and closures have a number of advantages over caps and closures made of metal, rubber, and other materials. Plastic is more cost-effective, adaptable, durable, light, and corrosion-resistant. Furthermore, because of its lesser weight, it has a lower transportation cost.

Furthermore, rising urbanization and increasing level of disposable income will drive market value growth. Also, rising concerns about product quality and safety and upsurge in the demand for packaged food and pharmaceutical drugs will cushion the growth rate of caps and closures market. Opportunities

• Increasing number of application in end-use industries

The rise in number of application in end-use industries will create new market opportunities during the forecast period. Caps and closures is widely utilized in pharmaceuticals, cosmetics, and healthcare is expected to fuel global market expansion.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market's growth rate. Along with this, the constant developments in technologies and emerging demand for bottled water across the globe will provide new market opportunities in coming years.

Restraints/ Challenges

On the other hand, the market is projected to be hampered by fluctuating prices of raw materials and the availability of substitutes. The impact of COVID-19 on supply chain and rising implementation of stringent environmental regulations will hinder the market's growth rate. Complications linked with the recycling of caps and closures and matured markets in developed countries will act as market restraint and further challenge the market growth rate.   

This caps and closures market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the caps and closures market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Caps and Closures Market

Caps and closures had several rise and fall in the industry as a result of the COVID-19 shutdown period. COVID-19 had a twofold impact on the food and beverage industry: offline food chains including restaurants and cafes were completely shut down in some areas, while internet food deliveries were available. Demand for shelf-stable foods and beverages, especially milk products, was increasing in the packaged food and beverage market. Various online and offline food chains make up the worldwide food and beverage sector. Companies involved in the processing of raw food ingredients, packaging, and distribution of prepared and packaged foods and alcoholic and non-alcoholic beverages make up this industry. The rise in the number of on-the-go consumers and increased consumption of ready-to-eat food were the key drivers of the food & beverage industry's growth prior to the COVID-19 pandemic. Shutdowns of restaurants and other dining spaces, on the other hand, were major factors affecting the food and beverage industry. COVID-19 significantly impacted the food and beverage industry in practically every region.

Recent Development

• In June 2020, Berry Global Group had announced the acquisition of RPC Group. This acquisition aided in the formation of one of the world's largest plastic packaging firms and a prominent global supplier of value-added protective solutions. Furthermore, the organization has expanded its global footprint, which now includes over 290 locations in North and South America, Europe, Asia, Africa, and Australia.

Global Caps and Closures Market Scope

The caps and closures market is segmented on the basis of material, type, technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Plastic
  • Polypropylene
  • Polyethylene
  • Polyvinyl Chloride (PVC)
  • Others
• Metal
  • Aluminum
  • Stainless Steel
• Glass
• Others

Type

• Screw Caps
• Dispensing Caps
• Others

Application

• Food and Beverage
  • Non-Alcoholic Beverages
  • Alcoholic Beverage
• Pharmaceutical
• Others

Technology

• Injection Molding
• Compression Molding
• Post-Mold Tamper-Evident Band

Caps and Closures Market Regional Analysis/Insights

The caps and closures market is analysed and market size insights and trends are provided by country, material, type, technology and application as referenced above.

The countries covered in the caps and closures market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific dominates the caps and closures market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the surging demand in end-use industries such as beer, food and soft beverages, alcoholic beverages, and pharmaceuticals due to the less production cost and ability to keep the beverages safe. 

North America and Europe, on the other hand, are projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing rate of beer consumption and surging level of disposable income in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Caps and Closures Market Share Analysis

The caps and closures market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to caps and closures market.

Some of the major players operating in the caps and closures market are:

• Berry Global Inc. (US)
• Silgan Holdings Inc. (US)
• Crown (US)
• Amcor Plc (Australia)
• AptarGroup, Inc. (US)
• Guala Closures S.p.A (Italy)
• Closure Systems International (US)
• Ball Corporation (US)
• BERICAP (Germany)
• Nippon Closures Co., Ltd. (Japan)
• Reynolds Group Ltd (US)
• Sonoco Products Company (US)
• Pact Group (Australia)
• Innovative Polymers Pvt. Ltd. (India)
• PLENCO CLOSURES PVT. LTD. (India)

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