Global Caps and Closures Market Analysis, Size, Share, Growth

Posted by arslan in Finance on February 9th, 2018

Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Caps and Closures Market

The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the global caps and closures market. The market is currently witnessing impressive demand from Asia Pacific. As per Report a paradigm shift in consumer preference from unpackaged to more convenient and packaged food products is fuelling the demand for caps and closures from the region’s packaging industry. The market is also gaining from the rising use of caps and closures in the alcoholic beverages segment. 

Despite witnessing favorable growth opportunities, the advent of flexible packaging is likely to dampen the market’s growth to an extent. Nevertheless, the increasing investment by manufacturers in novel technologies, designs, and materials is expected to boost the market in the near future.

global caps and closures market, which stood at US.23 bn in 2014, is expected to reach US.57 bn by the end of 2021. If these figures hold true, the global caps and closures market will exhibit a CAGR of 5.2% between 2015 and 2021.

Rising Consumption of Alcoholic Beverages to Fuel Demand for Caps and Closures

In terms of revenue, the alcoholic beverages segment held over 57.35% of the overall caps and closures market in 2014. The rising consumption of beer around the world has been fuelling demand from the alcoholic beverages segment. While this has led to the increasing use of metal crowns for beer bottles, metal screw closures are fast replacing corks used in wine bottles. The segment is also expected to gain impetus from the rising consumption of wine across emerging economies.

The non-alcoholic segment includes caps and closures manufactured for the packaging of bottled water and carbonated soft-drinks. The shifting demand of consumers from carbonated soft drinks to bottled water is expected to fuel the demand for caps and closures in this segment. Bottled water is calorie-free, which is the key factor boosting its sales worldwide. This will, in turn, fuel the demand for caps and closures. 

Increasing Purchasing Power of Consumers Puts Asia Pacific at the Fore

Regionally, Asia Pacific led the global caps and closure market in 2014, with China and India emerging as lucrative markets. The rising demand for canned food and beverages is the primary factor driving the Asia Pacific caps and closures market. Furthermore, due to rising purchasing power and improving living standards, consumers in this region have become more willing to spend on packaged products and convenient foods. The consumption of alcoholic beverages has increased as well. Spurred by these factors, the market for caps and closures in Asia Pacific is expected to reach US.75 bn by the end of 2021.

Besides this, Report also projects that the market will witness considerable growth in developed economies across Europe and North America. The rising demand for plastic packaging in these regions is fuelling the demand for plastic screw caps, which in turn, boosts sales opportunities for caps and closures manufacturers.

Some of the leading companies operating in the global caps and closures market are Silgan Holdings, Plastics Corporation, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.


Related Articles

Global Caps and Closures Market Analysis, Size, Share, Growth
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Caps and Closures Market”The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the gl...

Caps and Closures Market Trends and Opportunity Analysis, 20
Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, crown cap, snap on, friction fit, tamper evident, and dispersing. Caps and closures find a broad range of application in numerous industries such as beverages, cosmetics, chemicals, and pharmaceuticals. The mate...

Flip Top Caps And Closures Market Expected to Drive Growth thr
Consumer perception of packaging is slowly changing. Attractive packaging is gaining more popularity among consumers, which has resulted in development of more innovative and attractive packaging designs by the manufacturers. Flip top caps and closures are clean and effective in controlling flow of liquid, allow direction pouring of the product for consumer ...

Also See: Closures Market, Global Caps, Asia Pacific, Alcoholic Beverages, Market, Demand, Closures

Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members

Link To Directory

Developed by Interfuse - Copyright 2010 - 2018 Uberant.com