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MarketResearch.biz delivers in-depth insights on the global caps and closures market in its upcoming report titled, “Global Caps and Closures Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global caps and closures market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global caps and closures market report has been segmented on the basis of raw material, type, end use, and region.
The primary function of caps and closures is to preserve products and extend their shelf life. It keeps the contents closed and fresh for a specified shelf life with proper content dispense. In addition, it provides protection from dirt, moisture and other undesired premature opening. Caps and closures market consume different type of materials to manufacture suitable product packaging, such as plastics, metals, and rubber.
Increasing demand of caps and closures owing to increasing food consumption, rising concerns toward product quality and safety is a key factor driving growth of the market. Food consumption have resulted in demand for packaged food products with longer shelf life. Market players are focused on developing new products to offer extended shelf life. Large number of businesses today are exporting their products for market expansion and presence, hence, suitable packaging has become a necessity in order to maintain quality during transportation and undesired environmental conditions. With the growing consumer goods and packaged food market, the need for new packaging materials which can provide protection from rough environments without affecting the quality of the product is rising. This is other driving factor expected to fuel the growth of the market.
The plastic packaging market have witnessed various technological advancements which have resulted in product developments. Various companies are investing in R&D to come up with the different and cost-effective products, the innovations in this market is increasing. Acquisition and global expansion strategy is largely trending the market. Agreement and product launch are other prominent strategies adopted by market players in order to remain competitive in the market.
The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to the growth of the food & beverage, healthcare, and personal care industry. Also the growing population and economic development are other factors. Asia-Pacific offers potential growth opportunities, as developing countries such as China and India are projected to be emerging markets, making the Asia-Pacific region the fastest-growing market for caps & closures.
Global Caps and Closures Market Segmentation:
Segmentation on the basis of raw material:
- Others (glass, wood, rubber & elastomers, and paperboard)
Segmentation on the basis of type:
- Plastic caps & closures
- Metal caps & closures
- Other caps & closures (corks, glass stoppers, and rubber stoppers)
Segmentation on the basis of end use:
- Food & Beverage
- Cosmetics & toiletries
- Others (chemical and automotive)
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Crown Holdings Inc.
- Amcor Limited
- Berry Plastics Corporation
- RPC Group Plc
- Reynolds Group Holdings Limited
- Silgan Holdings Inc.
- Guala Closures Group
- BERICAP GmbH Co. & KG
- Rexam PLC
- AptarGroup Inc.
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