Plastic Caps and Closures Market Size
As per our latest analysis, it is estimated, the size of the Global Plastic Caps and Closures Market is predicted to grow at a CAGR of 5.3% from 2019 to 2025.
The fast technological development and the continuous improvement of the products have made the packaging industry grow rapidly throughout the world. With these technological updates, the demand for plastic caps increases every day. In addition, these plastic caps can replace glass bottles and containers due to the fragility of the glassware. In addition, these plastic products are easy to carry over long distances. Growing populations, especially in developing countries, contribute to the growth of the Plastic Caps and Closures Market due to the growing demand for packaged food products with a long service life. Many organizations invest in R & D to create exclusive and economical Plastic Caps and Closures Market packaging to meet the needs of consumers. It is also a factor that affects the growth of the market due to the concern to increase food security. These factors are expected to bring plastic caps throughout the forecast period.
Polyethylene terephthalate (PET) is commonly used in food packaging due to its strong water vapor barrier properties, dilute acids, gases, oils and alcohols. PET is also fragile, slightly flexible and easy to recycle. The market that many companies have invested in R & D to create unique and profitable products has had many innovations. In addition, with the advent of PET bottles of plastic for packaging of beer, plastic has gained acceptance, as well as alcohol and beer packaging. This is due to the fact that it uses a variety of barrier systems combined with silicon and PET oxide, which provides a strong potential for penetration in this vast market.
However, this industry depends to a large extent on the suppliers of raw materials to manufacture. The PET and the PE that are used as raw materials have a great cost in the market. Since the cost of production depends on this raw material, and the manufacturer has difficulties in maintaining a constant production. The food and pharmaceutical industries of developing countries will present opportunities for growth in the current Plastic Caps and Closures Market.
This research report is segmented & sub-segmented into the following categories:
Plastic Caps and Closures Market Analysis – By Application:
- Cosmetics and Toiletries
- Other Applications
On the basis of application, the food sector contributed to a remarkable distribution of benefits. It is expected to grow with containers of convenience. Regulatory agencies, such as the Food and Drug Administration (FDA), have established strict food safety regulations and regulations as consumers' health problems increase.
Plastic Caps and Closures Market Analysis – By Raw Material:
- Other Raw Materials
Plastic Caps and Closures Market Analysis – By Region:
- North America - US, Canada, Mexico and Rest of North America
- Europe - UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
- APAC - India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
- Latin America - Brazil, Argentina, Chile and Rest of Latin America
- Middle East and Africa - KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
Asia Pacific, Europe, North America, Middle East and Africa and Latin America are regional segments of the global market for plastic caps and closures. The Asia-Pacific region has important revenue streams and is expected to maintain its regional advantage during the forecast period. This growth is credited for the growing demand of the beverage industry for products related to alcoholic beverages, carbonated beverages and other products. These factors are expected to boost the industrial growth of the region during the forecast period. It is expected that Latin America will contribute to the highest growth rate.
Companies playing a promising role in the Global Plastic Caps and Closures Market profiled in this report are:
- Silgan Holdings Inc.
- Amcor Ltd
- Crown Holdings Inc.
- Aptar Group Inc.
- Berry Global, Inc.
- Albéa S.A.
- Ball Corporation
- Evergreen Packaging Inc.
- Global Closure Systems
- Guala Closures Group
- Pact Group
- Tetra Laval International S.A.
- BERICAP GmbH & Co. KG
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