Plastic Caps and Closures Market sales trends analysis and forecast of the market share through 2026

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, among other things. 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.

The increasing emphasis on health and hygiene has also led to the growth of the toiletries 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 Klockner Pentaplast Group entered into a marketing alliance with 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.

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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.

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 weight, inexpensive, user-friendly, can be 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.

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)

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Product Type Outlook (Volume, Thousands of Units; Revenue, USD Billion; 2016-2026)

  • Dosing caps
  • Screw caps
  • Flip-top closures
  • Easy to pull bottle cap
  • Sports cap
  • Other

Outlook on commodity types (volume, thousand units; sales, billion USD; 2016-2026)

  • Polypropylene (PP)
  • HDPE (high density polyethylene)
  • LDPE (low density polyethylene)
  • Other

Technology Type Outlook (Volume, Thousands of Units; Revenue, USD Billion; 2016-2026)

  • Compression molding
  • Injection molding
  • Tamper-proof tape after molding

End Use Type Outlook (Volume, Thousands Units; Revenue, USD Billion; 2016-2026)

  • food and beverages
  • Personal and home care
  • drug
  • Other

Regional Outlook (Volume, Thousand Units; Revenue, Billion USD; 2016-2026)

  • North America
  • Europe
  • Asia Pacific
  • MY
  • Latin America

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COMTEX_389865052 / 2758 / 2021-07-15T11: 23: 19

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