According to the latest report by IMARC Group, titled "Plastic Caps and Closure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global plastic caps and closure market reached a value of US$ 43.2 Billion in 2021. Plastic caps and closure refer to the final components of the packaging process that are mainly designed for sealing multiple types of containers and bottles. They are generally manufactured using leakproof and superior quality plastic materials and used to maintain the product integrity by keeping the content fresh and clean. Some of the commonly utilized plastic caps and closure include flip-top bottle, disc top, screw bottle, classic bottle over, double-twisting nozzle pull and double button that are used in a wide range of packaging applications, such as personal care products, liquid medicines and beverages.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Plastic Caps and Closure Market Trends:
The global market is primarily driven by the augmenting consumption of alcoholic and non-alcoholic beverages. Coupled with the growing preference for healthy drinks due to the increasing health consciousness among the masses, this is creating a positive market outlook. Moreover, the rising investments by leading players in the manufacturing of eco-friendly product variants due to an enhanced focus on sustainable development are impacting the market growth favorably. Additionally, the widespread utilization of hand sanitizers among the masses on account of the rapid outbreak of coronavirus disease (COVID-19) has significantly supported the demand for plastic caps and closure on the global level. Other factors, including the emerging pharmaceutical and fast-moving consumer goods (FMCG) industries, a considerable rise in the number of restaurants and cafes offering home delivery services, the escalating adoption of innovative and convenient packaging solutions and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 59.0 Billion by 2027, exhibiting a CAGR of 5.32% during 2022-2027.
- On the basis of the product type, the market has been segregated into screw-on, dispensing and other caps.
- Based on the raw material, the market has been segmented into PET, PP, HDPE, LDPE and others.
- On the basis of the container type, the market has been classified into plastic, glass and others.
- Based on the technology, the market has been categorized into injection molding, compression molding and post-mold tamper-evident band.
- On the basis of the end-use, the market has been divided into beverages, industrial chemicals, food, cosmetics, household chemicals, pharmaceuticals and others. Among these, beverages currently represent the biggest segment in the market.
- Based on the region, the market has been divided into Asia Pacific, North America, Europe, Latin America and the Middle East and Africa. Presently, the Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Berry Global, Amcor, Crown Holdings, Silgan Holdings, RPC Group, Bericap, AptarGroup, Inc, Closure Systems International, Coral Products, O.Berk Company, LLC, United Caps, Caps & Closures Pty Ltd, Caprite Australia Pty. Ltd, Pano Cap (Canada) Limited, Plastic Closures Limited, Cap & Seal Pvt. Ltd., Phoenix Closures, Alupac India, Hicap Closures and MJS Packaging.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800