Global Caps and Closure Market was valued at USD 48.19 Billion in 2019 and is expected to grow with a CAGR of 5.3% over the forecasting period 2020-2027. Caps and closure are an important part of packaging it includes caps, cane and other. It promotes longer shelf life of the products and provide a barrier to oxygen, water, moisture and dirt. Caps and closure are designed to meet the requirement of different type of containers. Current lifestyle requires lightweight, easy to handle, more convenience packaging. Knowing the importance of caps and closure many competitors come forward to invest in the industry. Increasing Demand of Plastic Caps and Closures and Growing demand of Packaging Industry are the main drivers to increase demand of caps and closure market. For instance, as per Statista, the packaging market grow by 11 percent between 2017 to 2021. Furthermore, as per Indian Institute of packaging, Indian packaging industry is expected to reach USD 204.81 billion by 2025. At 26.07% per annum. Despite that, Unstable Price of Raw Material is hinder the growth of market over the forecasting period 2020-2027.
The regional analysis of the Caps and Closure Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In which, Asia Pacific is dominating the market due to growth in food and beverage industries and increase personal care industry. developing countries like China and India emerging the market. However, LAMEA region is expected to be the fastest growing region in terms of sales valoume over the forecasting period.
Key Players in Global Caps and Closure Market
BERICAP GmbH Co. & KG
Berry Plastics Corporation
Crown Holdings Inc.
Guala Closures Group
Reynolds Group Holdings Limited
RPC Group PLC
Silgan Holdings Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Food Caps and Closures
Beverages Caps and Closures
Rest of LA
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of Global Caps and Closure Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers