Plastic Caps and Closures- Market Scope
Caps and closures are the coverings or tops used to seal and safeguard a variety of containers, including bottles, jars, and tubes. These closures are vital for maintaining the integrity of the container's contents, preventing spills, preserving product freshness, and safeguarding against contamination. The global plastic caps and closures market is driven by the increasing demand for convenient and sustainable packaging solutions across various industries, including food and beverage, pharmaceuticals, and personal care. The rising preference for lightweight and cost-effective packaging, coupled with the growing emphasis on product safety and shelf life extension, propels the market forward. However, regulatory challenges associated with plastic use and environmental concerns pose restraints on the industry, fostering a shift towards eco-friendly alternatives. Opportunities in the market lie in the innovation of recyclable and biodegradable materials, as well as the incorporation of smart packaging technologies to enhance consumer engagement and traceability throughout the supply chain. Overall, the market dynamics are shaped by a delicate balance between consumer demands for convenience and the industry's commitment to sustainable and responsible packaging practices.
According to AMA, the Global Plastic Caps and Closures- market is expected to see growth rate of 8.3% Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Plastic Caps and Closures- market throughout the predicted period.
Silgan Holdings Inc. (United States), Amcor Ltd (Australia), Crown Holdings Inc. (United States), Aptar Group Inc. (United States), Berry Global, Inc. (United States), Albéa S.A. (India), Ball Corporation (United States), Evergreen Packaging Inc. (United States), Global Closure Systems (France), Guala Closures Group (Italy), Pact Group (Australia), Tetra Laval International S.A.(Switzerland) and BERICAP GmbH & Co. KG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are MJS Packaging (United States), J.L. Clark United States), TriMas (United States), Comar, LLC (United States) and Caps & Closures Pty Ltd. (Australia).
Segmentation Overview
The study have segmented the market of Global Plastic Caps and Closures- market by Type (Ribbed and Smooth Disc Caps, Ribbed and Smooth Screw Caps, Ribbed and Smooth Flip-Top Caps, Push/Pull Caps, Child-Resistant Caps, Flip Spout Caps, Twist Top Caps and Others) and Region with country level break-up.
On the basis of geography, the market of Plastic Caps and Closures- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing inclination toward healthy lifestyles and Rising innovations across the industry
Market Growth Drivers:
Expanding packaging industry, Growing need for sustainable packaging and E-commerce packaging requirements
Challenges:
Fluctuation in the cost of raw materials
Restraints:
Raw material price volatility and Quality and safety concerns
Opportunities:
Launch of innovative packaging solutions and Surging consumption of bottled water and carbonated and non-carbonated drinks
Market Leaders and their Expansionary Development Strategies
In February 2018, Berry Global Group, Inc. completed the previously announced acquisition of the Clopay Plastic Products Company, Inc. from an affiliate of Griffon Corporation for a purchase price of USD 475 million, subject to post-closing adjustment for working capital and certain other items.
In October 2020, Berry Global Inc. introduced a new Divinity HDPE 2-inch flip-top tube closure made from high-density polyethylene that, when paired with one of their squeezable polyethylene (PE) tubes, creates a sustainable single-substrate package.
Key Target Audience
Manufacturers, Providers, Suppliers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.