Caps And Closures Market
Caps and Closures Market Forecasts to 2028 - Global Analysis By Product (Crown Closures, Dispensing Caps, Aerosol Closures, Screw Closures), Material (Metals, Plastic, Compression Molding), Type (Tamper-Evident Closures, Dispensing Closures, Bar-Top Closures, Child-Resistant Closures, Snap-On Closures), Technology (Post-mold TE Band, Injection Molding, Compression Molding), Application (Wine, Carbonated Soft Drinks, Beer, Bottled Water), End User (Pharmaceutical, Food & Beverages, Healthcare, Automotive, Cosmetics & Toiletry, Packaging) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $69.87 BN |
|
Projected Year Value (2028) |
US $107.83 BN |
|
CAGR (2022 - 2028) |
7.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Caps and Closures Market is accounted for $69.87 billion in 2022 and is expected to reach $107.83 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Caps and closures usually used to keep the container sealed and the contents safe for the designated shelf life. They act as a barrier against dirt, moisture, and oxygen, and it keeps the items from being opened abruptly. It is primarily utilized in the packaging industry to protect commodities and increase shelf life. Plastic, metal, rubber, and wood are some of the materials used in the caps and closures sector to provide proper packaging.
According to data from The Food Industry Association released in January 2020, alcoholic beverage sales in supermarkets in the United States in 2018 were worth USD 24,313.51 million.
Market Dynamics:
Driver:
Increase demand for Bottled Water
One type of plastic bottle cap is a screw cap. It must create the inner ring of the cap's thread structure and securely link with the bottle thread. After the screw cap is tightened, the interaction force between the threads will allow you to take use of the benefits of the thread structure. The market for bottled water is expanding quickly. As a result, over the projected period, the market for caps and closures will be driven by the rising demand for bottled water.
Restraint:
Uncertainty in the price of raw materials & Availability of substitutes
The main reason preventing the market for caps and closures from expanding is the fluctuation in the cost of raw materials. Aluminium, steel, polypropylene, polycarbonate, and polycarbonate are some of the basic materials utilised in the production of caps and closures. The price of raw materials increases along with the demand for caps and closures, which has an impact on the price of producing the caps and closures. The market for caps and closures is under danger from the rising popularity of containers without closures, such as pouches. The packager benefits from a variety of factors, including minimal material prices, when using this style of packaging. The pouch packaging type is being used as a packaging innovation tool by several fast-moving consumer goods companies to give consumers additional convenience. Therefore, one of the biggest obstacles to the caps and closures market's expansion is the availability of alternatives.
Opportunity:
Demand from Pharmaceutical Packaging Sector
Healthcare items are packaged to prevent product contamination and to shield them from moisture, gas, light, and temperature changes. This contributes to the end-use industry for pharmaceuticals' need for caps and closures. Following the epidemic, there is an increasing daily need for medical supplies, healthcare facilities, and other associated goods. The need for caps and closures will rise in tandem with the healthcare sector's strong growth rate, which will undoubtedly benefit the caps and closures market.
Threat:
Stringent Government Regulations and Banning of Polymer Products
To confirm the safety of medical use plastics items like gloves, the FDA has put pressure on producers to submit data about the long-term health impact of inorganic chemicals in plastics, specifically hormonal impacts and contributors to antibiotic-resistant bacteria. PET is commonly used for packaging a range of edible items, including water, because to its low cost, ease of transportation, low weight, high resistance, absence of flavour and aesthetic concerns, and lack of these attributes. The biggest issue with plastic bottles is their endurance in the environment because they are not easily biodegradable. If not recycled properly, PET bottles that are thrown away pose a serious threat to the environment, especially in poor nations. Consequently, the market growth for caps and closures was hampered throughout the predicted period.
Covid-19 Impact
The COVID-19 shutdown period caused multiple rises and falls in the industry for caps and closures. The food and beverage business was affected by COVID-19 in two ways: online food deliveries were accessible, while several offline food chains, such as cafés and restaurants, were totally shut down. The packaged food and beverage industry was seeing an increase in demand for meals and drinks that could be kept on the shelf, particularly milk products. The global food and beverage industry is made up of several offline and online food chains. This industry is made up of businesses that handle the processing of uncooked food materials, packaging, and distribution of prepared and packaged foods, as well as alcoholic and non-alcoholic drinks.
The Plastic segment is expected to be the largest during the forecast period
The Plastic segment is estimated to have a lucrative growth. Plastic caps and closures are the ideal material because of their great mechanical strength, stiffness, and resistance to wear and corrosion. Numerous polymers, including polyethylene terephthalate (PET), polypropylene (PP), polyethylene (PE), and polyvinyl chloride (PVC), are used in the production of plastic caps and closures. It is widely used in a variety of end-use industries because it can be bent into the required shape by applying pressure or heat. As a result, the availability of a broad variety of packaging options is boosting demand for the plastic industry, which will ultimately contribute to the domination of that industry throughout the forecasted period.
The food and beverage segment is expected to have the highest CAGR during the forecast period
The food and beverage segment is anticipated to witness the fastest CAGR growth during the forecast period, due to growing popularity of packaged food items, ready-to-eat meals, and portable snacks. It is anticipated that more non-alcoholic beverages will be consumed, which will aid in the segment's growth. In the food and beverage sector, they are used to safeguard the product, improve safety, extend shelf life, and decrease leakage, spoilage, and contamination. A sizable portion of the worldwide market for caps and closures is accounted for by the pharmaceutical industry because of the rising demand from pharmaceutical packaging. It is anticipated that the introduction of functional beverages in cans made of plastic, metal, or glass will drive the segment's growth.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to rapid industrialization and the popularity of waste management in nations like China, Japan, and India. Due to the expanding packaging business, plastic use has also expanded. More than 50% of plastic is recycled in the Asia-Pacific area, with the majority of this activity occurring in the unorganised market and concentrating on recycling single-use plastic. On the other hand, the region's packaging business is directly impacted by the rising demand for high-quality water and health-conscious drinking habits, which is predicted to increase the use of bottled water.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The market for caps and closures in North America has been dominated by carbonated soft drinks over the past ten years. On the other side, people in this area are focused on drinking water and juices as they become more health conscious. This change increased the demand for juices and healthful beverages, which benefited the market for caps and closures. An improved level of life and the availability of famous US manufacturers who produce these biodegradable and recyclable caps and closures are two key factors contributing to the market's expansion in the area. The widespread acceptance and use of high-tech retail packaging solutions is blamed for the surge.
Key players in the market
Some of the key players profiled in the Caps and Closures Market include Amcor plc, Ball Corp., Sonoco Products Company, Silgan Holding, Inc., Nippon Closures Co. Ltd., BERICAP, Berry Global Inc., Crown Holdings, Inc., AptarGroup Inc., GCL Holdings S.C.A., Reynolds Group Ltd and Innovative Polymers Pvt. Ltd.
Key Developments:
In December 2021, Hexcel Corp. (Stamford, Conn.) and Metyx Composites (Istanbul, Turkey) entered into a partnership to produce high-performance carbon fiber pultruded profiles for the wind energy sector using polyurethane (PU) resin and unidirectional (UD) carbon fiber.
Products Covered:
• Crown Closures
• Dispensing Caps
• Aerosol Closures
• Screw Closures
• Easy-open Can Ends
• Metal Lug Closures
• Peel-off Foils
• Metal Crowns
• Corks
• Other Products
Materials Covered:
• Metals
• Plastic
• Compression Molding
• Other Materials
Types Covered:
• Continuous Thread Closures
• Tamper-Evident Closures
• Dispensing Closures
• Bar-Top Closures
• Child-Resistant Closures
• Snap-On Closures
• Other Types
Technologies Covered:
• Post-mold TE Band
• Injection Molding
• Compression Molding
Applications Covered:
• Wine
• Carbonated Soft Drinks
• Beer
• Bottled Water
• Other Applications
End Users Covered:
• Pharmaceutical
• Food & Beverages
• Healthcare
• Automotive
• Cosmetics & Toiletry
• Packaging
• Beverages Packaging
• Food Packaging
• Personal care
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Caps and Closures Market, By Product
5.1 Introduction
5.2 Crown Closures
5.3 Dispensing Caps
5.4 Aerosol Closures
5.5 Screw Closures
5.5.1 Plastic Screw Closures
5.5.2 Metal Screw Closures
5.6 Easy-open Can Ends
5.7 Metal Lug Closures
5.8 Peel-off Foils
5.9 Metal Crowns
5.10 Corks
5.11 Other Products
6 Global Caps and Closures Market, By Material
6.1 Introduction
6.2 Metals
6.2.1 Aluminum
6.2.2 Steel
6.2.3 Other Metals
6.3 Plastic
6.3.1 Polyethylene Terephthalate (PET)
6.3.2 Polypropylene (PP)
6.3.3 High-Density Polyethylene (HDPE)
6.3.4 Low-density polyethylene (LDPE)
6.4 Compression Molding
6.5 Other Materials
7 Global Caps and Closures Market, By Type
7.1 Introduction
7.2 Continuous Thread Closures
7.3 Tamper-Evident Closures
7.4 Dispensing Closures
7.5 Bar-Top Closures
7.6 Child-Resistant Closures
7.7 Snap-On Closures
7.8 Other Types
8 Global Caps and Closures Market, By Technology
8.1 Introduction
8.2 Post-mold TE Band
8.3 Injection Molding
8.4 Compression Molding
9 Global Caps and Closures Market, By Application
9.1 Introduction
9.2 Wine
9.3 Carbonated Soft Drinks
9.4 Beer
9.5 Bottled Water
9.6 Other Applications
10 Global Caps and Closures Market, By End User
10.1 Introduction
10.2 Pharmaceutical
10.3 Food & Beverages
10.4 Healthcare
10.5 Automotive
10.6 Cosmetics & Toiletry
10.7 Packaging
10.8 Beverages Packaging
10.9 Food Packaging
10.10 Personal care
10.11 Other End Users
11 Global Caps and Closures Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Amcor plc
13.2 Ball Corp.
13.3 Sonoco Products Company
13.4 Silgan Holding, Inc.
13.5 Nippon Closures Co. Ltd.
13.6 BERICAP
13.7 Berry Global Inc.
13.8 Crown Holdings, Inc.
13.9 AptarGroup Inc.
13.10 GCL Holdings S.C.A.
13.11 Reynolds Group Ltd
13.12 Innovative Polymers Pvt. Ltd
List of Tables
1 Global Caps and Closures Market Outlook, By Region (2020-2028) ($MN)
2 Global Caps and Closures Market Outlook, By Product (2020-2028) ($MN)
3 Global Caps and Closures Market Outlook, By Crown Closures (2020-2028) ($MN)
4 Global Caps and Closures Market Outlook, By Dispensing Caps (2020-2028) ($MN)
5 Global Caps and Closures Market Outlook, By Aerosol Closures (2020-2028) ($MN)
6 Global Caps and Closures Market Outlook, By Screw Closures (2020-2028) ($MN)
7 Global Caps and Closures Market Outlook, By Plastic Screw Closures (2020-2028) ($MN)
8 Global Caps and Closures Market Outlook, By Metal Screw Closures (2020-2028) ($MN)
9 Global Caps and Closures Market Outlook, By Easy-open Can Ends (2020-2028) ($MN)
10 Global Caps and Closures Market Outlook, By Metal Lug Closures (2020-2028) ($MN)
11 Global Caps and Closures Market Outlook, By Peel-off Foils (2020-2028) ($MN)
12 Global Caps and Closures Market Outlook, By Metal Crowns (2020-2028) ($MN)
13 Global Caps and Closures Market Outlook, By Corks (2020-2028) ($MN)
14 Global Caps and Closures Market Outlook, By Other Products (2020-2028) ($MN)
15 Global Caps and Closures Market Outlook, By Material (2020-2028) ($MN)
16 Global Caps and Closures Market Outlook, By Metals (2020-2028) ($MN)
17 Global Caps and Closures Market Outlook, By Aluminum (2020-2028) ($MN)
18 Global Caps and Closures Market Outlook, By Steel (2020-2028) ($MN)
19 Global Caps and Closures Market Outlook, By Other Metals (2020-2028) ($MN)
20 Global Caps and Closures Market Outlook, By Plastic (2020-2028) ($MN)
21 Global Caps and Closures Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
22 Global Caps and Closures Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
23 Global Caps and Closures Market Outlook, By High-Density Polyethylene (HDPE) (2020-2028) ($MN)
24 Global Caps and Closures Market Outlook, By Low-density polyethylene (LDPE) (2020-2028) ($MN)
25 Global Caps and Closures Market Outlook, By Compression Molding (2020-2028) ($MN)
26 Global Caps and Closures Market Outlook, By Other Materials (2020-2028) ($MN)
27 Global Caps and Closures Market Outlook, By Type (2020-2028) ($MN)
28 Global Caps and Closures Market Outlook, By Continuous Thread Closures (2020-2028) ($MN)
29 Global Caps and Closures Market Outlook, By Tamper-Evident Closures (2020-2028) ($MN)
30 Global Caps and Closures Market Outlook, By Dispensing Closures (2020-2028) ($MN)
31 Global Caps and Closures Market Outlook, By Bar-Top Closures (2020-2028) ($MN)
32 Global Caps and Closures Market Outlook, By Child-Resistant Closures (2020-2028) ($MN)
33 Global Caps and Closures Market Outlook, By Snap-On Closures (2020-2028) ($MN)
34 Global Caps and Closures Market Outlook, By Other Types (2020-2028) ($MN)
35 Global Caps and Closures Market Outlook, By Technology (2020-2028) ($MN)
36 Global Caps and Closures Market Outlook, By Post-mold TE Band (2020-2028) ($MN)
37 Global Caps and Closures Market Outlook, By Injection Molding (2020-2028) ($MN)
38 Global Caps and Closures Market Outlook, By Compression Molding (2020-2028) ($MN)
39 Global Caps and Closures Market Outlook, By Application (2020-2028) ($MN)
40 Global Caps and Closures Market Outlook, By Wine (2020-2028) ($MN)
41 Global Caps and Closures Market Outlook, By Carbonated Soft Drinks (2020-2028) ($MN)
42 Global Caps and Closures Market Outlook, By Beer (2020-2028) ($MN)
43 Global Caps and Closures Market Outlook, By Bottled Water (2020-2028) ($MN)
44 Global Caps and Closures Market Outlook, By Other Applications (2020-2028) ($MN)
45 Global Caps and Closures Market Outlook, By End User (2020-2028) ($MN)
46 Global Caps and Closures Market Outlook, By Pharmaceutical (2020-2028) ($MN)
47 Global Caps and Closures Market Outlook, By Food & Beverages (2020-2028) ($MN)
48 Global Caps and Closures Market Outlook, By Healthcare (2020-2028) ($MN)
49 Global Caps and Closures Market Outlook, By Automotive (2020-2028) ($MN)
50 Global Caps and Closures Market Outlook, By Cosmetics & Toiletry (2020-2028) ($MN)
51 Global Caps and Closures Market Outlook, By Packaging (2020-2028) ($MN)
52 Global Caps and Closures Market Outlook, By Beverages Packaging (2020-2028) ($MN)
53 Global Caps and Closures Market Outlook, By Food Packaging (2020-2028) ($MN)
54 Global Caps and Closures Market Outlook, By Personal care (2020-2028) ($MN)
55 Global Caps and Closures Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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