Market Research Future published a research report on “Plastic Caps & Closures Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India -- (SBWIRE) -- 12/12/2017 -- Global Plastic Caps & Closures Market Information by Type (Reclosable Packaging, Non-reclosable Packaging, Special Blister Packaging), By End-Use (Personal Care, Chemicals, Pharmaceuticals) and By Region – Forecast to 2023
Caps and closures are also used for product differentiation and brand building. In addition to food, drink and cosmetics packaging, they are used for the production of closures for industrial packaging, medicine packaging and the packaging of everyday items. They are generally made of metal, plastic, rubber, or combinations of these materials, plastic being one of the most preferred materials. Some other types of caps and closures are threaded caps, hinged caps, roll-on closures, twist-off closures, stoppers, corks, dispensing closures, lug caps, canning lids, and wine and spirit closures. However, the primary purpose of plastic caps & closures to maintain safety and wholesomeness of products, makes it so preferred.
The impact of packaging waste on the environment can be minimized by prudently selecting materials by following the guidelines, and reviewing expectations of packaging in terms of environmental impact. Knowledgeable efforts by the industry will promote continued improvement, and an understanding of the functional characteristics of packaging will push the market towards growth. Plastic caps & closures market is expected to reach the market size of ~USD 61.71 billion by the end of forecast period with CAGR of ~5.2% during the forecast period. Closures and caps become imperative for packaging industry, which is serving as the driving factor for the industry. In terms of applications and end-use, beverages are expected to remain the largest segment of the industry. However, pharmaceuticals market is poised to witness strong growth during the forecasting period.
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The prominent players in the global plastic caps & closures market includes RPC Group Plc (UK), Reynolds Group Holdings Limited (New Zealand), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Rexam PLC (UK), Berry Plastics Corporation (U.S.), Silgan Holdings Inc. (U.S.), AptarGroup Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & KG (Germany).
Market Research Future Analysis:
Market Research Future analysis shows that the global market of plastic caps & closures market is estimated to reach the value of USD 61.71 billion by the end of the year 2023. Caps and closures industry uses different type of materials to construct suitable product packaging, such as plastics, metals, rubber, and paperboard. Plastic is chemically resistant, inexpensive and lightweight with a wide range of physical and optical properties. In fact, many plastics are heat sealable, easy to print, and can be integrated into production processes where the package is formed, filled, and sealed in the same production line. It is driven by the adoption of smaller bottles in several beverage markets and a positive outlook for pharmaceuticals. Geographically, Asia Pacific is leading the market of Plastic Caps & Closures. With the increasing popularity toward packaged food in countries such as India and China, the demand for plastic caps & closures is anticipated to grow, significantly. Growing purchasing power, disposable income, and rise in manufacturing activities and growth in the demand for conveniently packaged products, have resulted in an increase in demand for plastic caps & closures market. The North America and Western Europe are expected to register a moderate growth rate owing to the saturation of end use markets in the regions.
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