Increased consumption of carbonated and non-carbonated beverages has improved the prospects of bottles, jars, and other comparable container types, resulting in increased sales of plastic caps and closures. The global plastics caps and closures market is expected to grow at a rate of 5% between 2022 and 2029, owing to steady demand for plastics caps and closures for bottles, jars, tubes, and containers. The convenience packaging trend is boosting sales of various types of plastic caps and closures, such as screw, snap, and push & pull caps and closures.
According to FMI, the plastic caps and closures industry will generate an additional potential of US$ 18 billion by the end of 2029.
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The plastic caps & closures market totaled to US$ 41 Bn by market value in 2021, according to FMI. The overall plastic caps & closures market is likely to expand 1.4x the current market value by the end of 2029.
Top Key Players Covered –
- Berry Global, Inc.,
- Amcor plc,
- Silgan Plastics,
- Aptar, Inc.,
- O.Berk Company, LLC
- Bericap GmbH & Co KG
- UNITED CAPS
- CL Smith Company
- Closure Systems International, Inc.
- BLACKHAWK MOLDING CO., Inc.
- Georg MENSHEN GmbH & Co. KG
- Mold-Rite Plastic, LLC
- Plasticap Inc.
- Guala Closures S.p.A
- Weener Plastik GmbH.
Key Takeaways – Plastics Caps & Closures Market Study
- Screw caps & closures are experiencing the unmatchable demand, especially in the beverage industry as this packaging solution maintains the optimum air levels in bottles and provides convenient opening and closing.
- Thermoplastics such as polyethylene (PE), polypropylene (PP), and others dominate the global plastics caps & closures market in terms of material. Use of these plastics for manufacturing plastics caps and closure offers advantages such as low processing cost as well as lightweight and high strength products.
- The beverage industry has been identified as the key end user of the plastics caps & closures, as this sector generates a constant demand for plastics caps & closures to pack a wide variety of carbonated and non-carbonated drinks.
Looking at the growth of food & beverages industry across developing Asian economies and the subsequent rise in demand for convenient packaging formats, manufacturers of plastics caps & closures are most likely to spot profits in Asia Pacific (excluding Japan).
Convenience packaging and small bottles are in high demand.
When consumers travel to other locations, they prefer to bring their favourite products with them. Millennials all over the world choose convenience packaging since it is easier to carry, dispose of, and manage flow. Plastic caps and closures are in high demand due to consumers’ preference for these convenience packaging goods over traditional packaging, particularly among Generation Z. Another reason driving the growth of the plastic caps and closures market is the rapidly expanding usage of smaller bottles due to the current “on-the-go and breakfast bottles” trend in the beverage sector.
- Screw Closures
- Snap Closures
- Push-Pull Closures
- Others
By Material Type:
- Thermoplastic
- PE
- LDPE/LLDPE
- HDPE
- PP
- Others (PS, PET etc.)
- PE
- Thermosets
By End Use:
- Beverage
- Food
- Pharmaceutical
- Household
- Cosmetics & Personal Care
- Others (Chemicals, Fertilizers etc.)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- MEA
- Japan
About Plastics Caps & closures Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global plastics caps & closures market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study provides growth projections on the plastics caps & closures market on the basis of cap type (screw closures, snap closures, push-pull closures, and other), material type (thermoplastics and thermoset) and by end-use (beverage, food, pharmaceuticals, household, cosmetics & personal care, and others (chemicals & fertilizers, etc.) across seven major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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