The latest report by IMARC Group, titled “Latin America Plastic Caps and Closure Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, finds that the Latin America plastic cups and closure market is expected to grow at a CAGR of 4.2% during the forecast period (2022-2027). Plastic caps and closure refer to a secure and safe packaging solution that are commonly used for sealing various kinds of tubes, bottles, jars, and containers. They protect the content from spillage, evaporation, dust, and contamination. These are the final components of the packaging procedures that are significantly used in the pharmaceuticals, food, beverage, cosmetics, and personal care industries. The type and design of plastic caps and closure vary based on the product. In recent years, plastic cups and closures have gained traction due to their recyclable, durable, economic, and easy-to-use nature.
We are regularly tracking the direct effect of COVID-19 on the market and the indirect effect of the associated industries. These observations will be integrated into the report.
Latin America Plastic Caps and Closure Market Trends:
One of the primary factors driving the market is the increasing consumption of packaged and processed foods due to the hectic lifestyles of working individuals. Other than this, the increasing consumption of health drinks due to growing health consciousness among the masses has created a positive market outlook. Besides this, there has been extensive adoption of plastic caps and closure in the food and beverage (F&B) industry to provide protection and increase the shelf-life of the products. In line with this, the growing utilization of one-piece liner-less closures in packaged water bottles is strengthening the market growth. Moreover, the increasing consumption of alcoholic and non-alcoholic drinks is escalating the product demand due to its durability, cost-effectiveness and chemical stability. Furthermore, key manufacturers are launching airtight, flexible, tamperproof, and threaded plastic caps and closures, along with innovative and customizable designs and packaging solutions, which are bolstering the market growth across the region.
- Based on the product type, the market has been divided into screw-on caps, dispensing caps, and others.
- On the basis of the raw material, the market has been segmented into PET, PP, HDPE, LDPE, and others.
- Based on the container type, the market has been classified into plastic, glass, and others.
- On the basis of technology, the market has been categorized into injection molding, compression molding, and post-mold tamper-evident band.
- Based on the end use, the market has been divided into beverages, industrial chemicals, food, cosmetics, household chemicals, pharmaceuticals, and others.
- Region-wise, the market has been segmented into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others.
- The competitive landscape of the market has also been analyzed, along with the profiles of key players operating in industry.
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