A recent market intelligence report that is published by Data Insights Partner on the global Caps and Closures Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Caps and Closures Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Caps and Closures Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Caps and Closures Market is offered. In accordance with the report, the global Caps and Closures Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Closures are techniques and devices that is utilized for closing and sealing a tube, jar, can, jug and many more. Plug, cover, lids, cap and many more are some type of closures. Screw closures, crown cap closures, snap on closures, friction fit closures, spray bottle closures, closures comprising of tamper-evident band are some of the different types of closures. It is primarily used for packaging purpose.
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The convenience associated with the utilization of caps and closures is primarily driving this market. This type of products keeps the container closed and extends the shelf life of the content. It is moisture resistant and keeps away the contamination of oxygen and dirt. The unwanted opening at unsuitable time is resisted by the use of this product which provides the initial impetus to the market.
The overall packaging industry is prospering owing to a variety of reasons. The growth of this industry is fueling the growth of the different aspects of the packaging industry which includes the cap and closure packaging sector.
The food and beverage sector are a major consumer in the caps and closures market. In this sector, the prime motive of packaging is to maintain the test, texture, quality and flavor of the content and also improve the lifespan of the product. The soaring inclination of the consumers towards the consumption of the packaged foods and convenience food are bolstering the growth of this market. Further, the booming beverage sector owing to the skyrocketing consumption of the nutritional drinks, sports drinks, carbonated drinks and alcoholic drinks are charging up the demand for caps and closures.
The flourishing cosmetics and personal care industry, pharmaceutical industry and child care industry are positively affecting this market. Caps and closures are being increasingly employed in the personal care and cosmetics industry for the packaging of creams, lotions, sunscreens and many more. Surge in the deployment of this products in the pharmaceutical industry is empowering this market to grow further. The increase in employment of caps and closures in the child care industry is propelling the growth of the caps and closures market.
Plastic products like polypropylene, terephthalate, polycarbonate is used as raw materials in the production of caps and closures. These products are not bio-disposable. The implementation of the rigid directives of the government of various nation with regard to the application of plastics with the aim of conserving the environment is impeding the growth of this market.
The fluctuating prices of raw materials for the production of caps and closures which include aluminum, steel, polycarbonate, terephthalate, polypropylene is negatively affecting the caps and closures market. with the rising demand for caps and closures, the raw materials prices are also increasing which is lowering the profit margins of the manufacturers and threatening the caps and closures market.
Further, the availability of substitutes that include blister packages is disrupting the growth of the caps and closures market.
Environmental concerns have led to the adoption of eco-friendly caps and closures. The sustainable development projects and innovation in the packaging industry for the development of disposable products is likely to open up new errands for this market.
The thriving end use sectors viz. the food and beverage sector, pharmaceutical industry and cosmetics and personal care industry will provide lucrative opportunities to widen the consumer base of the caps and closures market.
The Asia Pacific region dominates the market for caps and closures and is expected to continue its domination in the forecast period and also emerge as the fastest growing region in the forecast period. Such rapid progress is attributable to the upsurge in the purchasing power of the consumers of this region and consequently increasing development of the beverage sector. Other factors include the growth of middle class in this region and the evolving lifestyle of the people. Although the beverage sector is dominate the caps and closures market in terms of end users, but in course of time caps and closures will be increasingly applied in the healthcare sector. Basically, plastics are primarily used as raw materials for the production of caps and closures owing to its widespread obtainability. But utilization of other raw materials is also expected to gain momentum.
This market intelligence report on the global Caps and Closures Market encompasses market segments based on material type, application and country.
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By Material Type the global Caps and Closures Market has been divided into:
q Others (Wood, Fibre, Paperboard)
By Application the global Caps and Closures Market has been divided into:
q Food and Beverages
q Consumer Goods
q Cosmetics and Personal Care Products
By country/region, the global Caps and Closures Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q TriMas Corporation
q UNITED CAPS
q AptarGroup Inc
q Crown Holdings, Inc
q Berry Global, Inc
q Evergreen Packaging Inc
q Global Closure Systems
q Amcor Limited
q Silgan Holdings, Inc
q Rexam PLC
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Caps and Closures Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
In May 2019, Taplas was acquired by TriMas Corporation. The former is an Italy based closures and containers and dispenser producer. This acquisition is expected to diversify the product portfolio of TriMas Corporation.
In April 2018, the acquisition of Embalatap was announced by UNITED CAPS. Embalatap is a Spain based producer of caps and closures.
In July 2018, a deal to acquire CSP Technologies Ins was made by AptarGroup Inc. The former being specialized in the production of plastic packaging.
Ø This study offers comprehensive yet detailed analysis of the Caps and Closures Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Caps and Closures Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Caps and Closures caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Caps and Closures Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Caps and Closures Market
v Identification of key factors driving investment opportunities in the Caps and Closures Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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