Global Caps & Closures Market – Overview
Caps & closures are primarily used for preserving products and extending their life. They are generally made of metal, plastic, rubber, or combinations of these materials. The type of material to be used in packaging depends upon the application and type of product to be packaged. Generally, plastic materials such as Polyethylene, Polypropylene, polystyrene and polyvinyl chloride are used in plastic caps & closures.
According to a recent study report published by the Market Research Future, The global market of Caps & Closures is booming and expected to gain prominence over the forecast period. The Global Caps & Closures market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value during the estimated period (2017 – 2023).
The increasing consumption of beverages and innovative packaging solutions are expected to drive the market. Sometime caps and closure are also used for brand building. This also have the positive influence on the growth of the market. Whereas, fluctuating raw material prices and the regulations on packaging of pharmaceuticals and foods are expected to pose challenges for the market.
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AptarGroup Inc. (U.S.), Rexam PLC (U.K.), RPC Group Plc (U.K.), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Reynolds Group Holdings Limited (New Zealand), and Silgan Holdings Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Caps & Closures Market.
Caps & Closures Global Market – Competitive Analysis
Global Caps & Closures Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Caps & Closures strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Caps & Closures for every application.
Recent Industry News
On December 2017, RPC Zeller Plastik Zell has innovated its screw-on Classic range of polypropylene hinge tube closures (HTC) with the addition of a 25mm size, available with a matt finish. The new closure will enable brand manufacturing using a single closure design.
On December 2017, Crown Holdings has acquired Signode Industrial Group Holdings which will provide an additional portfolio of premier transit and protective packaging franchises to our existing metal packaging business
In June 2017, United Caps, an international producer of innovative caps and closure solutions, announced that it is acquiring caps, closures and handles business from Dewit Plastics. This will help the company to expand its product offering to the customers.
In May 2017, United Caps, packaging closures specialist announced that to capitalize the growing sales in Southeast Asia, the company is launching its first production plant outside Europe early next year. The plant is under construction and is to be fully operational by the end of April 2018.
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Caps & Closures Market – Segmentation
Global Caps & Closures Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
On the basis of type, market is segmented into Caps, Closures, Corks, Stoppers, Cans, Cap Ends and Others. Screw caps are widely used for packaging of beverage products such as bottled water and fruit juices.
Based on Material segment the market is segmented into Plastic, Metal, and others. Plastic segment dominates material segment of the market.
Based on end user segment the market is segmented into Food & Beverage, Healthcare, Pharmaceuticals, Cosmetics, Automotive, and others. Food & Beverage segment dominates end user segment of the market. Rising demand for beverage products such as bottled water and beer driving the growth of the market.
Segmentation by Regions : Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Caps & Closures Market – Regional Analysis
Asia-Pacific dominates the Global Caps and Closures Market. Developing economies such as India, China, and Brazil have changed their buying patterns by purchasing more packaged foods. The demand for packaged products has been increasing in the Asia-Pacific region, majorly due to the changing lifestyle and the rise in purchasing power. This will lead to an increased demand for caps & closures. North America & Europe is also the major market for Caps & Closures. High demand for beverage products such as bottled water and beer driving the growth of the market.
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