During the forecast period, which runs from 2022 to 2032, the flip top caps and closures market is anticipated to improve, growing at a CAGR of 5.2%. Future Market Insights estimates that sales of flip top caps and closures will likely reach US$ 65 billion in 2022 and then rise at the aforementioned CAGR to reach US$ 108 billion.
Flip top caps and closures are attractive in comparison to traditional caps and closures, and this is expected to be one of the important factors that can drive the growth in the global flip top caps and closures market in the future.
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Global Flip Top Caps and Closures Market: DynamicsFlip top caps and closures market is gaining traction owing to rising manufacturing output globally, increasing consumer spending on quality and innovative products. Additionally, availability of wide range of flip top caps and closures which fit bottles, jars, and tubes etc. is expected to further fuel the growth in the flip top caps and closures market and screw on flip top caps is expected to gain significant market share in coming years. Gaining in flip top caps and closures market will be supported by continuous growth in pharmaceuticals, cosmetics and personal care industry. Flip top caps and closures are easy fluid dispensing which make it convenient for consumer to use product.
Global Flip Top Caps and Closures Market: Segmentation
The global flip top caps and closures market can be segmented on the basis of material used, application, and region. On the basis of material type, the global flip top caps and closures market can be segmented into plastic, metal and others (rubber and elastomers). Plastic, flip top caps and closures segment can be further sub-segmented into Polypropylene, Polyethylene, Polystyrene, and other resins. Metal, flip top caps and closures segment can be further sub-segmented into aluminum and steel.
Plastic flip top caps and closures are most preferable among both manufacturers as well as consumers owing to the durable and flexible properties of plastic material. Among other materials, aluminum material is also preferred by the end user. On the basis of application global flip top caps and closures market can be segmented into beverages, foods, toiletries, cosmetics and personal care products, pharmaceuticals, industrial chemicals, automotive and others. Based on application, cosmetics and personal care products are most lucrative application in the global flip top caps and closures market. On the basis of region, global flip top caps and closures market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East and Africa.
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Global Flip Top Caps and Closures Market: Regional Overview
Overall, the most rapid increase in global flip top caps and closures demand is expected to occur in the developing regions. Asia Pacific region is expected to be the fastest growing region as compared to other regions owing to increasing manufacturing sector in this region. The Europe and North America markets are highly mature with high presence of established players. The global flip top caps and closures market is expected to witness healthy growth in near future driven by increasing disposable income together with widening consumer base.
These factors has also led to increased investment by companies engaged in manufacturing and distribution of flip top caps and closures in various regions. MEA and Latin America are expected to witness moderate growth in flip top caps and closures market over the forecast period.
Global Flip Top Caps and Closures Market: Key Players
The main player of flip top caps and closures market are Blackhawk Molding Company Incorporated, Amcor, BERICAP holdings, Global Closure Systems, Crown Holdings, Siligan Holdings, Reynolds Group Holdings, Closure Systems International, Oriental Containers, Guala Closures Group, Berry Plastics, Pelliconi, Premier Vinyl Solution, and others.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments such as application, material, printing technology and geographies.
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Flip Top Caps And Closures Market
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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