NEW YORK, United States, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Global Caps and Closures Market Size, Share & Trends Analysis Report By Type (Plastics Caps & Closures, Metal Caps & Closures, Others), By Product Type (Dispensing Caps, Screw Closures, Crown Closures, Aerosol Closures, Others), By Raw Material (Plastic, Metals, Others), By Technology (Injection Molding, Compression Molding, Post-Mold Tamper-Evident Ban, Others), By End-use Industry (Food, Beverages, Healthcare, Cosmetics & Toiletries, Others), By Region, And Segment Forecasts, 2021–2026” in its research database.
“According to the latest research study, the demand of global Caps and Closures Market size & share was valued at approximately USD 61.6 billion in 2020 and is predicted to create revenue of roughly USD 85.0 billion by the end of 2026, with a compound annual growth rate (CAGR) of approximately 5.5% between 2021 and 2026.”
Report Overview:
Caps & closures play a significant role in packaging and they include containers such as cans, caps, and others. It helps in the process to extend the shelf life of the products and provides a barrier to dirt, oxygen, and moisture. Rising demand for smaller packaging sizes and bottled water from the end-user industries such as beverage, food, and healthcare, and rising concerns towards product safety and quality are factors improving caps & closure market growth. The rising use of packaging is driving the growth of the caps and closures market.
Some of the factors reflect the importance of plastic containers in numerous markets and the growing prevalence of plastic closures on other container types. The outlook for plastic closures will be constrained by the high penetration of plastic containers in most markets and a lack of new large volume applications. Despite ongoing losses due to inroads by plastic closures and the resurgence of aluminium cans in the beer market, units will increase modestly based on greater use of roll-on closures with wine and opportunities for screw and lug closures with ready to drink beverages such as iced tea and coffee, which are frequently packaged in glass.
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Market Growth Dynamics
Increasing technological advancements in packing solutions
To estimate the total attractiveness of the caps and closures market, current and prospective caps and closures industry trends are outlined. The technological advancements in packing solutions play a crucial role in driving the demand for caps and closures. Advanced technology has allowed companies to incorporate innovation in products instead of sticking to traditional ones. Due to this, several companies are investing in research & development and are coming up with technically advanced products with properties such as extended shelf life, better sealing capabilities, reusability, and leakage proof. Such properties efficiently uphold the quality and consistency of food items while extending their shelf life without using additional preservatives.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2026
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Type, Product Type, Raw Material, Technology, End-use Industry, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 61.6 Billion |
| Projected Market Size in 2026 | USD 85.0 Billion |
| CAGR Growth Rate | 5.5% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2026 |
| Key Market Players | Agropur Cooperative, Amcor Limited, AptarGroup Inc., BERICAP GmbH Co. & KG, Berry Plastics Corporation, Blackhawk Molding Company Incorporated, Capsugel Inc., Cap & Seal Pvt. Ltd., Closure Systems International, Crown Holdings Incorporation, Guala Closures Group, Oriental Containers, Pact Group Holdings, Phoenix Closures, and Others |
| Key Segment | By Type, By Product Type, By Raw Material, By Technology, By End-use Industry, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Segmentation Analysis
The caps and closures market is segmented based on type, product type, raw material, technology, and end-use industry:
In terms of revenue, the Plastic segment held the highest market share of over 54% in 2020,
As per type caps and closures, the market is segmented into (plastics caps & closures, metal caps & closures, others), by product type (dispensing caps, screw closures, crown closures, aerosol closures, others), by raw material (plastic, metals, others), by technology (injection molding, compression molding, post-mold tamper-evident ban, others) and by end-use industry (food, beverages, healthcare, cosmetics & toiletries, others). The plastic segment held the highest market share of over 54% in 2020, in terms of revenue, and is estimated to expand further at the fastest CAGR over the forecast period. Plastic material poses environmental concerns due to lower degradability as well as CO2 emissions taking place during its production.
Covid-19 Analysis
The COVID-19 pandemic harmed the market growth, particularly caps and closures of productions. Caps & closures are used in pharmaceuticals, food & beverages, cosmetic products, household goods, and others. They are the final components of packaging and are accountable for maintaining the integrity of the packing of the product. Caps & closures use polypropylene, polyethylene, steel, and aluminum as the primary raw materials for manufacturing
On the other hand, the industry includes companies working in processing raw food materials distribution and packaging, which include already prepared foods and packaged foods, along with alcoholic and non-alcoholic beverages. The rise in the number of on-the-go consumers and increased adoption of ready-to-eat food are the primary factors for the growth of the food & beverage industry before the COVID-19 pandemic. Steadily population increase and changing lifestyle also per capita income were other drivers of the food & beverage industry. However, some factors affecting the food & beverage industry include shutdowns of restaurants and other seating areas.
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Regional Analysis
The Asia Pacific is projected to dominate global Caps and Closures market growth
Throughout the projected period, Asia-Pacific is anticipated to be the fastest-growing regional market. Asia-Pacific led the global caps & closures market. Asia-Pacific comprises two high-growing economies like India and China. The living standard is improving in this region, which is accelerating the per-capita spending on packaging. Hectic lifestyles result in the demand for packaged products for on-the-go consumption. This consequently leads to the demand for closures that are easy to open can be re-sealed, and those that keep the products fresh for a longer period. Economies such as Malaysia, Singapore, and Indonesia offer significant opportunities for the caps & closures market.
Competitive Players
Major players operative in the caps and closures market is Agropur Cooperative, Amcor Limited, AptarGroup Inc., BERICAP GmbH Co. & KG, Berry Plastics Corporation, Blackhawk Molding Company Incorporated, Capsugel Inc., Cap & Seal Pvt. Ltd., Closure Systems International, Crown Holdings Incorporation, Guala Closures Group, Oriental Containers, Pact Group Holdings, Phoenix Closures, Pelliconi, Plastics Corporation, Plastic Closures Limited, Premier Vinyl Solution, Rexam PLC, Reynolds Group Holdings Limited, etc. and among others.
Companies are also focusing on procuring recycled materials for caps manufacturing. Post-Consumer Recycled aluminum, steel, and plastic are being explored, which can be processed further and used as raw materials.
Recent Industry Developments
- For instance, in October 2020, Closure Systems International launched a beverage closure made from 30% PCR content in partnership with Coca-Cola to increase product sustainability.
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Browse the full “Global Caps and Closures Market Size, Share & Trends Analysis Report By Type (Plastics Caps & Closures, Metal Caps & Closures, Others), By Product Type (Dispensing Caps, Screw Closures, Crown Closures, Aerosol Closures, Others), By Raw Material (Plastic, Metals, Others), By Technology (Injection Molding, Compression Molding, Post-Mold Tamper-Evident Ban, Others), By End-use Industry (Food, Beverages, Healthcare, Cosmetics & Toiletries, Others), By Region, And Segment Forecasts, 2021–2026” Report at https://www.fnfresearch.com/caps-and-closures-market
This report segments the global caps and closures market as follows:
By Type:
- Plastics Caps & Closures
- Metal Caps & Closures
- Others
By Product Type:
- Dispensing Caps
- Screw Closures
- Crown Closures
- Aerosol Closures
- Others
By Raw Material:
- Plastic
- Metals
- Others
By Technology:
- Injection Molding
- Compression Molding
- Post-Mold Tamper-Evident Ban
- Others
By End-use Industry:
- Food
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Healthcare
- Cosmetics & Toiletries
- Others (Chemical and Automotive)
Key Insights from Primary Research
- According to analysis, the Caps and closures market is expected to grow with a CAGR of approximately 5.5% between 2021 and 2026.
- The global caps and closures market was valued at around USD 61.6 billion in 2020 and is expected to reach USD 85.0 billion by 2026.
- The Asia Pacific is projected to dominate global industry growth on the basis of region.
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