PVC Free Closures Market: Trends, Share, Growth Rate, Opportunities
Posted by Kishor on August 9th, 2019
PVC free closures are developed by packaging manufacturers, especially for food and beverage industry. PVC free closures eliminate the ill effects of PVC on consumer’s health. Materials such as PE plastic, PP, and metal caps are used for packaging of many food and beverage items. The use of alternatives of PVC not only eliminates the ill effects of PVC but also benefits the environment as other materials are recyclable which helps in reducing the plastic waste. Cartons, bottles, bread packs and jars of jam, pickle, sauce and many other food related items are some examples of the application area for the PVC free closures market.
PVC Free Closures Market: Market Dynamics
To tap the growing demand of the beverage industry packaging manufacturers are doing various innovations to attract consumers. Beverage packaging market is estimated to be over US$ 100 billion and is expected to grow at a CAGR of 5.5% over the forecast period. With the increasing awareness among the consumers regarding health benefits, people are now making choices based on the product and packaging also. The increasing awareness among the consumers regarding ill effects of PVC is driving the PVC free closures market. The inclination of consumers towards the green packaging is another factor supporting the growth in PVC free closures market. Use of PVC free closures does not contaminate the drink while coming in contact with the packed products hence maintain the taste and integrity of the packed product. Regulations and policies of government authorities across the world are also favoring the use of PVC free closures market.
By the end of the forecast period, the use of PVC is expected to be nil for at least packaging of the consumable items. Increasing trend for having packed food especially in APEJ region is expected to create the significant incremental opportunity for the PVC free closures market. Advancement in technology has enabled packaging manufacturers to introduce closures with high resistance and low cost without the use of PVC while ultimately creating future abundant opportunities for PVC free closures market. The only restraint PVC closures can face the ignorance of the small scale manufacturers for the use of the food and beverages in backward or developing regions due to lack of consumer awareness and strict implementation of government policies.
PVC Free Closures Market: Market Segmentation
PVC free closures market is segmented by Material type and by end use industry.
Based on the material type, PVC free closures market is segmented into:
Based on the end use industry, PVC free closures market is segmented into:
PVC Free Closures Market – Regional Outlook:
Regionally global PVC free closures market is segmented into
APEJ is expected to present the highest opportunity for the PVC free closures market as the region accounts for the most of the production of the most of the packed food items. North America is expected to follow APEJ region due to the present lifestyle of the consumers in the region supporting the growth for the demand of the packed food products. Western Europe and Eastern Europe are expected to grow moderately in PVC free closures market. MEA is expected to exhibit slow growth while Japan is expected to contribute the significant share in PVC free closures market due to its highest per capita spending on the packaging.
About the AuthorKishor
Joined: February 12th, 2019
Articles Posted: 1,614
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