Plastic Caps and Closures Market Receives Rapid Boost in Economy due to High Emerging Demands Through 2023

Plastic Caps and Closures Market Research Report 2018: Industry Size, Share, Trends, Growth, Regional Analysis and Segmentation By Type (Screw Caps, Dispensing Caps, and Closures), By Material (Polypropylene, Polyethylene and Polystyrene), By End-User (Food & beverages, Pharmaceutical and Personal Care), By Region- Forecast 2023

Hadapsar, Pune, India - October 9, 2018 /MarketersMedia/ —

Plastic Caps and Closures Market – Summary

The global market for plastic caps and closures is mushrooming in size owing to a considerable demand purveyed by the food and beverage industry during the forecast period (2018-2023), asserts Market Research Future (MRFR) in an exhaustive study. Imbibing the latest technologies in the manufacturing process, the industry is now eyeing for a leap that would make it appropriate to meet the market demands fair and square.

Rapid industrialization and urbanization have led to transference in the patterns of consumer behavior as they now prefer packaged foods and beverages. The changing lifestyles of consumers and well as their inclination towards ready-to-eat foods has been a plus for the market. This has resulted in a burgeoning food and beverage industry which has now increased its production of processed offerings sparking further the demand for plastic caps and closures. The sector is keener to utilize plastic caps and closures as it shows remarkable ability to preserve flavor, nutrition, and texture of the end-product. Furthermore, its applications are widespread, transport-friendly, and incur a lower cost.

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Manufacturers are also investing heavily in research and development to deliver products of superior quality. The focus is mainly on slashing the production cost but never compromising on the quality which has marshaled to better sealing capabilities, extended shelf life, leakage proof usage, and reusability. These features are gaining a lot of traction and helping the product garner accolades from all quarters.

However, the market has a few deterrents such as the availability and price of the raw materials along with stringent government regulations. The market may experience a few bottlenecks but not stagnancy which is undoubtedly a positive sign.

Market Dashboard:

Countries such as Brazil, Indonesia, and India are experiencing some changing dynamics owing to varying preferences, a growing number of working women population and substantial foreign investment in retail outlets. These have caused a spurring growth in the food & beverage sector which primarily affects the plastic caps and closures market positively.

• Amcor Limited
• Silgan Holdings Inc.
• Global Closure Systems
• Comar LLC
• Aptar Group
• Reynolds Group Holdings
• TriMas
• Phoenix Closures Inc.
• J.L. CLARK
• Guala Closures Group
• others

These are some of the key companies operating in the global plastic caps and closures market.

Segmentation:

The global market for plastic caps and closures can be segmented by material, type, and end-user.

Material-wise, the market relies on polypropylene, polyethylene, and polystyrene. Polypropylene is currently spearheading the pack with 49.4% market share and is expected to witness the fastest CAGR during the forecast period.

Type-based segmentation comprises screw caps, dispensing caps, and closures. Screw caps are currently the market leaders with 42.1% of the entire share and all set to enjoy a favorable tailwind during the review period.

Based on end-users, the market consists of food and beverages, pharmaceutical, personal care, and others. Food and beverage are now dominating the market and expected to steer the market ahead in the foreseeable period. However, the pharmaceutical segment is also showing significant promises.

Regional Analysis:

Geographically the market covers the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

The Americas had dominated the market by generating almost 30.6% of the global revenue in 2017. The fast-tracked life in the U.S. has spurred the growth of food and beverage industry owing to which the plastic caps and closures market is gaining momentum. Also, the rising ecological concern is forcing the manufacturers to inflate their research & development expenditure.

Europe plays a significant role as sectors such as personal care, hygiene and beauty products and packaging are driving the many innovations that the market is now implementing. Healthcare & pharmaceutical sectors are fueling the same market by showing an increasing demand for the caps and closures. The U.K. has the largest market as it has expanding customer base and supportive regulations.

The APAC region is accelerating at a steady pace as the market is taking a firm grip over the global export industry. FDI in retail is also luring in a huge number of international players. China and India are also giving signs of increasing disposable income which spurs the growth of the food and beverage sector. These sectors are widening the business ambit for plastic caps and closures. Thus, making the APAC a significant market player.

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Intended Audience

• Distribution vendors
• Research
• End-Users
• Government

Major Table of Contents:

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Market Structure
2.4 List of Assumptions
2.5 Key Takeaways
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Growing Demand From Food & Beverage Industry
4.2.2 Innovation in Packaging
4.2.3 Drivers Impact Analysis
4.3 Restraints
4.3.1 Fluctuation in Raw Material Prices
4.3.2 Stringent Regulations Regarding the Use of Plastic and Recycled Materials
4.3.3 Restraints Impact Analysis
4.4 Opportunity
4.4.1 Scope in Developing Countries

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Release ID: 419812