Caps and Closures Market Scope
Caps and Closures are used in various industries and their utility across industries includes maintaining the quality of the products. Increasing the shelf life of the commodity, and keeping the products fresh. These are some of the main reasons which have led to an increase in its share in the packaging industry. The beverages industry, for a long time, has been the major contributor to the rising demand for caps & closures. But in recent times, this has been closely competed by other industries such as healthcare.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | RPC Group PLC (United Kingdom), Crown Holdings Incorporation (United States), Amcor Limited Plc (Australia), Rexam PLC (United Kingdom), Berry Plastics Corporation (United States), Silgan Holdings Inc. (United States), AptarGroup Incorporated (United States), Guala Closures Group (Italy), Reynolds Group Holdings Limited (New Zealand) and BERICAP GmbH Co. & KG (Germany) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Caps and Closures market throughout the predicted period.
RPC Group PLC (United Kingdom), Crown Holdings Incorporation (United States), Amcor Limited Plc (Australia), Rexam PLC (United Kingdom), Berry Plastics Corporation (United States), Silgan Holdings Inc. (United States), AptarGroup Incorporated (United States), Guala Closures Group (Italy), Reynolds Group Holdings Limited (New Zealand) and BERICAP GmbH Co. & KG (Germany) are some of the key players that are part of study coverage.
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.
Segmentation Overview
The study have segmented the market of Global Caps and Closures market by Type and Region with country level break-up.
On the basis of geography, the market of 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).
region held largest market share in the year 2023.
On 22nd September 2020, Borealis and MENSHEN has launched new packaging closures made of post-consumer recycled resin to enable more sustainable living.
Influencing Trend:
Product Differentiation and Branding
Market Growth Drivers:
Convenience Demanded By Consumers and Concerns About Product Safety and Security and Rising Demand From End-Use Industries
Challenges:
Stringent Environmental Regulations
Restraints:
Fluctuating Raw Material Prices and Innovation and New Substitutes
Opportunities:
Technological Development, Advancement and Product Innovation
Key Target Audience
Caps and Closures Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other