According to reports and data, the plastic caps and closures market is expected to reach $ 58.50 billion by 2026
Reports and data
The increasing demand for bottled beverages and beverages, increasing focus on product safety and security
NEW YORK, NY, UNITED STATES, Sep 23, 2021 /EINPresswire.com/ – The increasing emphasis on health and hygiene has also fueled growth in the plastic toilet caps and closures industry. The expansion of the toiletries industry is driving the demand for plastic closures and caps. Various initiatives by market participants are also worth mentioning. For example, the Klöckner Pentaplast Group entered into a marketing alliance with the Berry Plastics Group, Inc., a player in the market for plastic closures and caps. Such initiatives from industry players help support the expansion of the market.
According to a new report from Reports and Data, the global plastic caps and closures market is projected to reach $ 58.50 billion by 2026. A combination of different market factors supports the growth of the market. In this context, the expansion of the beverage industry and the increasing competition between the industry players should be mentioned. Increased competition among market participants has led to an increasing emphasis on branding and product differentiation by manufacturers of packaged water and beverages. Due to the growing focus on branding and product differentiation, the demand for plastic caps and closures with different colors and changed company logos is increasing, which in turn is driving market growth.
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Other key findings from the report suggest that
The plastic caps and closures market held a market share of $ 41.17 billion in 2018 with a growth rate of 4.4% over the forecast period.
In terms of product type, the Screw Caps segment had the highest revenue of $ 20.58 billion in 2018 with the highest growth rate of 5.0% in the forecast period. The sales of the screw caps segment is the result of its extensive use in various industries due to its properties such as light, inexpensive, user-friendly, tamper-proof and offers increased security of the product inside the bottle.
In connection with raw materials, the HDPE (High-Density Polyethylene) segment is forecast to have the fastest growth rate of 5.1% in the forecast period, which is expected to occupy 22.2% of the market by 2026.The HDPE segment is in line with the increasing awareness of environmental hazards in the Associated with discarded plastics and the recyclability of HDPE, which contributes to its increasing popularity.
In terms of end use, the food and beverage segment holds the largest market share of 51.0% in 2018 with the second highest growth rate of 4.6% over the forecast period. The market share of the Foods and Beverages segment is the result of the continuous expansion of the beverage industry and the increasing demand for the online food delivery sector.
In terms of region, North America holds the second largest market share of 23.0% in 2018 with a CAGR of 3.5% over the forecast period. Lifestyle changes, the increasing popularity of shelf packaging in retail and the increasing demand for on-the-go groceries are some of the factors contributing to this region’s market share.
Key participants include Amcor, Berry Global, Silgan Holdings, Crown Holdings, Bericap, RPC Group, Closure Systems International, Aptar Group, O.Berk Company, LLC and Coral Products.
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For the purposes of this report, reports and data have segmented the Plastic Caps and Closures Market by Bottle Type, Product Type, Raw Materials, Technology, End Use, and Region:
Bottle Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
Product Type Outlook (Volume, Thousands of Units; Revenue, USD Billion; 2016-2026)
Easy to pull bottle cap
Outlook on commodity types (volume, thousand units; sales, billion USD; 2016-2026)
HDPE (high density polyethylene)
LDPE (low density polyethylene)
Technology Type Outlook (Volume, Thousands of Units; Revenue, USD Billion; 2016-2026)
Tamper-proof tape after molding
End Use Type Outlook (Volume, Thousands Units; Revenue, USD Billion; 2016-2026)
food and beverages
Personal and home care
Regional Outlook (Volume, Thousand Units; Revenue, Billion USD; 2016-2026)
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Table of contents:
Chapter 1. Market overview
1.1. Market definition
1.2. Research scope and premise
1.4. Market appraisal technology
Chapter 2. Summary
2.1. Summary snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Plastic Caps and Closures Market Segmentation and Impact Analysis
4.1. Plastic Caps and Closures Market Segmentation Analysis
4.2. Industrial outlook
4.2.1. Analysis of the market indicators
4.2.2. Analysis of the market drivers
Why Buy This Report?
Offers the in-depth research analysis of the entire Plastic Caps and Closures market. This can save time for startups related to the plastic cap and closure market.
The latest news, forecast analysis, as well as the major competitors in the market are readily available with all the necessary information.
The Plastic Caps and Closures Report includes graphs, pie charts, and other illustrations to help the reader understand the information at a glance.
The Plastic Cap and Closure Report enables manufacturers to understand consumer behavior, business areas, and sell product-based information.
Effects of COVID-19 on the market and industry as well as recovery analysis.
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The report can be adapted to the needs of the user to ensure maximum benefit for the reader and increased clarity.
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September 23, 2021 at 2:58 pm GMT
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