Caps and Closures Market
Cap and closures are used to seal bottles or containers to avoid leakage. Caps and closures have become integral constituents of the packaging industry. These offer an attractive appearance and brand diversification for products. Caps and closures preserve products and enhance the shelf lives of various products.
The global caps and closures market is projected to witness notable growth in the next few years, owing to the rising demand for the packaged food and beverages across the globe. Moreover, the increasing demand for cosmetic products, such as creams, lotions, and perfumes, is likely to enhance the consumption of caps and closures, thereby, propelling the caps and closures market growth. Additionally, the application of caps and closures is growing rapidly owing to the rising awareness regarding hygiene which is expected to further drive the caps and closures market. However, fluctuating prices of raw materials that are used to produce caps and closure may hamper the caps and closures market growth. Conversely, constant technological advancements witnessed in product designs are projected to offer numerous growth opportunities to the global caps and closures market.
The global caps and closures market is classified on the basis of type, material type, and end-user. The product type segment of the caps and closures market includes plastic screw closures, metal crown closures, metal screw closures, corks, dispensing caps, pumps and sprays, rubber stoppers, and others. Plastic screw closures dominated the global caps and closures market in 2018, owing to the rising application of plastic screw closures in food and beverage and pharmaceutical industries. Moreover, the growing demand for dispensing caps in pharmaceutical and cosmetic industries is likely to enhance the caps and closures usage. Based on material type, the caps and closures market includes plastic, metal, and others. In 2018, the plastic segment dominated the global caps and closures market. The global demand for plastic caps and closures is increasing rapidly owing to the emerging end-use industries like food and beverage, pharmaceuticals, and consumer goods. The end-user segment of the market includes food and beverage, pharmaceutical, cosmetics and personal care, consumer goods, and others. The food and beverage segment is expected to dominate the global caps and closures market in the future, owing to the growing number of food and beverage companies in both developed and developing countries.
The Asia Pacific region contributed the largest share to the global caps and closures market in 2018 and is anticipated to register the fastest CAGR in the future. This can be attributed to the region’s flourishing packaging industry, growing application of caps and closures by the food and beverage industry, and increasing demand for caps and closures in China, Japan, and India.
Some major players of the global caps and closures market include Bericap, Guala Closures, RPC, Rexam, Silgan Holdings, Berry Plastics, Crown Holdings, AptarGroup, Pact Group, Reynolds Group, Zip-Pak, and Amcor Limited.
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