Sales of Plastic Caps & Closures to Peak in 2023
The packaging industry is undergoing a massive transformation; primarily fueled by uptight regulatory framework as well as changing consumers’ preferences. This ongoing sustainability drift has influenced manufacturers to accelerate their shift towards eco-friendly rigid and flexible plastic packaging formats. Exhibiting a promising CAGR of 5%, the worldwide revenues of plastic caps & closures are anticipated to cross the US$ 60 Bn mark in 2029. As suggested by this new FMI report, the global plastic caps & closures will observe maximum demand growth in 2023.
Frequently asked questions about global plastic caps & closures market
What are the key factors accelerating growth of the plastics caps & closures market?
Rising consumption of carbonated & non-carbonated drinks across the globe, and striking adoption of convenient packaging solutions are factors that are propelling growth of the plastics caps & closures market.
What are future prospects of the plastics caps & closures market?
The global plastics caps & closures market is expected to grow at a steady pace during the next ten years. The global plastics caps & closures market was valued at US$ 36 Bn in 2018, and is projected to expand 1.7X by 2029.
Which end-use industries offer high growth prospects for manufacturers in the plastics caps & closures market?
The beverage industry is anticipated to hold a significant share in the global plastics caps & closures market, and remain the most lucrative segment throughout the forecast period. Moreover, the beverage industry is projected to generate an impressive incremental opportunity in the next decade, as the demand for plastics caps & closures for effective packing and sealing of a wide variety of bottles, jars, and containers is on the rise.
Which plastics caps & closures will provide most gratifying opportunities in the next five years?
Screw caps & closures segment is anticipated to offer the most promising growth prospects throughout the forecast period. The demand for screw caps & closures is constantly rising, as these closures maintain the optimum air levels in bottles, and ensure convenient opening and closing.
Which region is expected to lead in terms of global sales of plastics caps & closures?
In terms of sales and market growth, the Asia Pacific Excluding Japan (APEJ) region is projected to retain the leading position throughout the forecast period. The plastics caps & closures market in this region is projected to register a striking CAGR during the forecast period.
Which companies are investing significantly in the development of innovative products?
Prominent plastics caps & closures manufacturers such as Aptar, Inc, Closure Systems International, Inc, Bericap GmbH and Co KG, and PACCOR are investing substantially to meet demands from various end-use industries.
Thermoplastics Remain Preferred Material
Carrying the benefits of low processing cost as well as light-weight and high rigidity quotient, plastics caps & closures made from thermoplastics continue to define manufacturers’ bottom lines. By 2026, consumption of thermoplastics caps & closures is likely to surpass US$ 50 Bn. As they capture voluminous share of the worldwide sales, market players are focusing on this product category. Under thermoplastics material, polypropylene (PP) will lead the pack, while polyethylene (PE) - LDPE and HDPE - are witnessing rapid demand growth. Further, thermosets are seeing decreasing share in market revenues as they cannot be recycled and exhibit poor thermal conductivity.
APEJ’s Market Remain Lucrative through 2029
Asia Pacific excluding Japan (APEJ) continues to lead the global plastic cups & closures markets, both, in terms of growth rate and revenue share. While the flourishing food & beverage sector has been the conventional driver for market growth, emergence of pharmaceutical and cosmetics industries is also contributing to the market revenues in the region. The plastic cups & closures markets in the developed regions of North America and Europe are also attracting stakeholders’ attention on grounds of strong establishment of incumbents such as Berry Global Inc., Silgan Plastics, and Bericap GmbH and Co KG.
One-piece Plastic Caps & Closures Mark Emerging Trend
Problems regarding opening and reclosing of two-piece plastic caps & closures are influencing leading manufacturers to replace them with the one-piece iterations in their pipelines. Developing one-piece plastic caps & closures is a time-efficient process, thereby, improving overall production efficacy. These one-piece versions are becoming popular, especially in the beverage industry, hence, market players must maintain their focus on this emerging category.
Screw closures remain in-demand
Demand for snap closures to rise steadily
Thermoplastics account for over 95% share
Thermosets to see sluggish adoption
Adoption in beverage sector remains bullish
Moderate demand from food industry
How Growth will Unfold
Consumption of plastic caps & closures continues to follow a positive growth trail on the back of their recyclability attribute. These caps & closures are becoming a rage in the beverage industry, where they are used for packaging carbonated and non-carbonated drinks including, bottled water, and fruit beverages. In 2018, adoption of plastic caps & closures in the beverage industry accounted for around US$ 18 Bn. Furthermore, demand growth of plastic caps & closures in the food and cosmetics & personal care is growing at a healthy pace of nearly 5%, holding over a quarter market share, collectively.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Plastics Caps & Closures Market Analysis 2019-2029
A recent market report published by Future Market Insights on the plastics caps & closures market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters, growth prospects of the plastics caps & closures market are obtained with maximum precision.
Plastic Caps & Closures Market Taxonomy
The global plastics caps & closures market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach to readers.
- Screw Closures
- Snap Closures
- Push-Pull Closures
- Others(PS, PET, etc)
- Non-Carbonated Drinks
- Alcoholic Beverages
- Bottled Water
- Fruit Beverages
- Ready-to-drink Beverages
- Sports Drinks
- Non-Carbonated Drinks
- Carbonated Drinks
- Cosmetics & Personal Care
- Others (chemicals & Fertilizers, etc.)
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
- Asia Pacific excluding Japan
The report begins with an executive summary of the plastics caps & closures market, which includes key findings and statistical analysis of the market. It also includes demand and supply-side trends pertaining to the plastics caps & closures market.
Readers can find the definition and detailed taxonomy of the plastics caps & closures market in this chapter, which will help them understand the basic information about the market. Along with this, comprehensive information pertaining to plastics caps & closures and their properties are provided in this section. It also highlights the inclusions and exclusions to help readers understand the scope of the plastics caps & closures market report.
This chapter explains the key macroeconomic factors that are expected to influence growth of the plastics caps & closures market during the forecast period. Along with this, the section also highlights the opportunity analysis for the plastics caps & closures market. This chapter also provides key market dynamics, which include drivers and restraints. Moreover, information provided in this chapter will help readers understand key trends followed by leading manufacturers in the plastics caps & closures market.
This section explains the global market value analysis and forecast for the plastics caps & closures market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical plastics caps & closures market, along with opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the plastics caps & closures market at the regional level has been provided in this section. This chapter also explains the global market volume analysis and forecast for the plastics caps & closures market during the forecast period.
Based on cap type, the plastics caps & closures market has been segmented into screw closures, snap closures, push-pull closures and others. In this chapter, readers can find information about key trends and developments in the plastics caps & closures market and market attractiveness analysis based on the cap type.
This chapter provides details about the plastics caps & closures market based on thermoplastics and thermosets. The thermoplastics segment is further segmented into PE, PP and other (PS, PET, etc). The PE segment is sub-segmented into LDPE/LLDPE, and HDPE. Readers can understand market attractiveness analysis of plastics caps & closures based on material type.
Based on end-use, the plastics caps & closures market is segmented into beverage, food, pharmaceutical, household, cosmetics & personal care, and others (chemicals & Fertilizers, etc.). The beverage segment is further segmented into non-carbonated drinks and carbonated drinks. The non-carbonated segment is sub-segmented into alcoholic beverages, bottled water, fruit beverages, ready to drink beverages and sports drinks. In this chapter, readers can find information about key trends and developments in the plastics caps & closures market and market attractiveness analysis based on end-use.
This chapter explains how the plastics caps & closures market is expected to grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, the Middle East and Africa (MEA), and Japan.
This chapter includes detailed analysis of the growth of the North America plastics caps & closures market, along with country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on cap type, material type, end-use, region, and countries in North America.
This chapter provides the growth scenario of the plastics caps & closures market in Latin American countries such as Brazil, Mexico, Argentina, and the rest of Latin America. Along with this, assessment of the Latin America market across target segments is provided.
Important growth prospects of the plastics caps & closures market in several countries such as Germany, the U.K., France, Spain, Italy, BENELUX, Nordic countries, and the Rest of Western Europe are included in this chapter.
Poland, Russia, and countries in the Rest of Eastern Europe are the prime subjects of assessment to obtain the growth prospects of the Eastern Europe plastics caps & closures market in this chapter. Readers can find detailed information about the growth parameters of the Eastern Europe plastics caps & closures market during the period of 2019-2029.
This chapter highlights the growth of the plastics caps & closures market in the APEJ region by focusing on China, India, ASEAN countries, Australia & New Zealand and the rest of APEJ. This section also helps readers to understand the key factors that are responsible for growth of the plastics caps & closures market in the APEJ region.
This chapter provides information about how the Plastics Caps & Closures market is anticipated to grow in major countries in the MEA region such as GCC countries, South Africa, North Africa, Turkey, Israel, and the Rest of MEA during the forecast period.
This chapter provides information about the plastics caps & closures market growth analysis in Japan during the forecast period of 2019-2029. This chapter highlights value and volume analysis during the historic and forecast period.
In this chapter, readers can find detailed information about tier analysis and market concentration of key players in the plastics caps & closures market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of prominent stakeholders in the plastics caps & closures market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players included in the report are Berry Global Inc, Amcor Plc, Silgan Plastics, Aptar, Inc, Closure Systems International, Inc, and Bericap GmbH and Co KG.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the plastics caps & closures market report.
This chapter help readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the plastics caps & closures. The report scope focuses on plastics caps & closures used in the packaging industry.
How the research was conducted?
- C-Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Machine Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Packaging Europe
- Packaging Strategies
- Packaging News
- Packaging World
- Industry Associations
- Flexible Packaging Association
- Flexible Packaging Europe
- American Plastics Council (APC)
- World Packaging Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits