Caps and Closure Market Size, Analysis, Status and Global Outlook 2020 to 2025

 

Caps and closure market has significant growth scope and is estimated to reach USD 60.2 billion by 2025. The reports forecast the caps and closure market by material type, cap type, end user, and region. It highlights COVID-19 impact on the caps and closure industry.

 

Description

 

Caps and Closure Market: by Material Type (Plastic, Metal, and Others), by Cap Type (Caps, Closures, Corks, Stoppers, Cans, and Others), by End User (Food & Beverage, Pharmaceutical, Cosmetics & Toiletries, Automotive, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

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The caps and closure market report cover a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the caps and closure industry aspects.

 

Caps and Closure Market Industry Overview:    

 

The caps and closure market size were valued at USD 51.8 billion by 2019, which is expected to reach USD 60.2 billion by 2025, registering a CAGR of 6.1% during the forecast period (2020-2025). Caps & closures are used to extend the products' shelf-life and provide a barrier to moisture, dirt, and oxygen. Moreover, the rising demand for bottled water and smaller packaging sizes from the end-use industries, such as pharmaceutical, food & beverages, is further expected to propel the market growth over the forecast period.  

 

Factors Affecting the Caps and Closure Market Over the Forecast Period:

 

·         Growth in demand from the packaging industry increased, owing to the rising preference for door-step delivery in developed and emerging economies. For instance, the rising number of online food & beverage delivery startups is raising the demand for caps and closures for packaging applications across the globe.  

·         Manufacturing of eco-friendly caps and closures using natural ingredients and recycling process is the main reason for the increase in demand for the product as the government is also supporting it. 

·         The unstable price of raw material is the major factor that will hamper the growth of the caps and closures market over the forecast period. 

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Impact of COVID-19 on Caps and Closure Market: 

 

The outbreak of the COVID-19 pandemic is expected to impact the caps and closures market positively. With the imposition of lockdown in the developed and emerging economies, such as the UK, Italy, France, and India, among others, the demand for packaged goods through online delivery/e-commerce increased, leading to the growth of the caps and closures in the packaging of food & beverages and pharmaceuticals products. Therefore, the caps and closures market size is expected to increase at a considerable growth rate after the COVID-19 pandemic outbreak.  

 

Caps and Closures Market: Geographical Outlook

 

The caps and closure market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa. In 2019, North America held the largest share in the global caps and closure market, followed by Europe and the Asia Pacific. Moreover, Asia Pacific is expected to project the highest CAGR in the global caps and closure market over the forecast period.

 

Leading Caps and Closure Market Competitors Includes: 

 

The caps and closure market is highly fragmented, with the presence of a large number of small players across the globe. The key Caps and Closure players operating in the global market include –

 

·         Alcoa corporation

·         Amcor Limited 

·         AptarGroup Inc. 

·         BERICAP GmbH Co. & KG 

·         Berry Plastics Corporation 

·         Comar LLC

·         Crown Holdings Inc. 

·         Guala Closures Group 

·         JL Clark

·         Rexam PLC 

·         Reynolds Group Holdings Limited 

·         RPC Group Plc. 

·         Silgan Holdings Inc. 

·         TriMas

 

The caps and closure market report provide a thorough analysis of macroeconomic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs. 

 

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