“Caps & Closures market is valued at $54.5bn in 2019” says new Visiongain report
24 April 2019
Visiongain has launched a new packaging report Caps & Closures Market Report 2019-2029 : Forecasts by Material (Plastics, Metals, Other), by Type (Screw-On, Dispensing, Liquid Carton, Lotion Pumps, Aerosol Sprays, Roll-On Pilfer-Proof, Easy-Open, Non-Refillable, Crown, Lug, Corks, Stoppers), by End-Use (Food, Alcoholic Beverages (Beer, Wine, Others), Non-Alcoholic Beverages (Bottled Water, Carbonated Soft Drinks, Non-Carbonated Soft Drinks, Juices and Health Drinks, Dairy Drinks), Healthcare, and Others) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global caps & closures market is calculated to be worth $ 54.5bn in 2019. This is primarily attributed to major end uses of caps & closures in an emerging country such as China for dairy product producers and beverage companies owing to an increase in the demand for packed milk and carbonated soft drinks and other non-alcoholic beverages. Such companies are concentrating on embracing high-quality Caps & Closures solutions that are environmentally friendly and sustainable solutions. Caps & Closures can be used in many ways to improve the durability of various components and products. The main raw materials used in the production of caps and seals are plastic and metal. To build appropriate product packaging, such as plastics, metals, rubber and paperboard, the caps and closures industry uses a variety of materials. With a wide range of physical and optical characteristics, plastic is chemically resistant, affordable and light. Many plastics are actually heated sealable, easy to print and can be integrated into production processes in which the package is formed, filled and sealed in the same production line.
Manufacturers in the caps & closures market need to analyse consumer behaviour at a regular interval to gain recent trends happening in the market. Further, it enables manufacturers to introduce innovative caps & closures solutions that meet end-user needs perfectly. This helps manufacturers to gain competitive advantages in the market and increase market presence. Increase in awareness among consumers along with rising environmental concerns across the globe has encouraged vital players in the caps & closures market to adopt environment-friendly techniques and solutions in their packaging process. For instance, packaging companies are inclined towards utilising recycled materials, operating on green energy, delivery using electric cars. Packaging producers need to be cautious as any disruption in public will harm the manufacturer, including bad public relations resulting in loss of reputation, client loyalty, and financial losses.
The Visiongain report analyst commented "Rising awareness related to the environment, healthy food & beverages, hygiene, and product security and safety among consumers in both developing and developed Asian countries is projected to boost the growth of the caps & closures market during the forecast period. Further, the entrance of new players in the market is anticipated to intense competition in the market in the near future."
Leading companies featured in the report who are offering Caps & Closures solutions and services include Amcor Ltd., AptarGroup, Inc., Becton, Dickinson and Company, Bemis Co. Inc., Berry Global Group, Inc., DS Smith Plc, RPC Group PLC, Sonoco Products Co., Tetra Laval, WestRock Company and WS Packaging Group, Inc.
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