The global caps and closures market is predicted to grow at a healthy CAGR between 2017- 2023 as per the new Market Research Future (MRFR) analysis. Caps & closures play a crucial role in packaging as it offers a barrier to oxygen, moisture, and dirt and also helps to increase the product’s shelf-life. Cap ends, cans, stoppers, corks, closures, caps, and others are the different types of caps and closures that are generally made of metal and plastic. They have wide applications in automotive, cosmetics, pharmaceuticals, healthcare, food and beverage, and other sectors.
Various factors are propelling the global caps and closures market share. As per the current MRFR report, such factors include the growing concerns about product safety and quality, innovation in packaging, increased consumption of processed foods and beverages, growing demand from chemical, food and beverage, pharmaceutical, cosmetic industry, and home care products, and growing demand for childcare products.
On the flip side, fluctuating costs of raw materials, strict rules on recycling & packaging material waste, demand for alternatives like blister packs, and rising concerns about the carcinogenicity & biodegradability of plastics are factors that may limit the global caps and closures market growth over the forecast period. Besides, the ongoing COVID-19 outbreak has led to a sudden halt in manufacturing activities across the world, impacting the demand for plastics as well as the production and processing of the same. The plastics industry, especially automotive and consumer goods, have been the most critically impacted, which in turn has impacted the global caps and closures market growth.
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The global caps & closures market has been segmented into mainly three segments: materials, type, and end-users.
By product type, the global caps & closures market has been segmented into caps, closures, corks, stoppers, cans, and others.
By materials, the global caps & closures market has been segmented into plastic, metal, and others. Plastic resin-like polypropylene (PP) and polyethylene (PE) are widely used, with PP expected to be the fastest-growing sub-segment. Light-weighted, cost-effective, and can be used to package various types of products belonging to different industries such as food & beverage, pharmaceutical, others.
By end-users, the global caps & closures market has been segmented into food & beverage, pharmaceutical, cosmetics, automotive, and others.
By region, the global caps & closures market has been segmented into North America, Europe, Asia Pacific, and RoW.
The Asia Pacific dominates the global caps & closures packaging market with the highest market share. Hygiene awareness, the change in preference from unpackaged to packaged food products, and the use of closures on popular container types are factors that drive market growth. With the booming packaging industry worldwide, the global cap and closure market is expected to expand. The demand for packaged goods has increased in the Asia Pacific region, mainly due to a changing lifestyle and increased purchasing power. This will lead to a rise in demand for plastic caps & closures and fuel market growth.
The industry giants operating in the market of global caps & closures are Rexam PLC (U.K), RPC Group Plc. (U.K.), Crown Holdings Inc. (U.S.), Berry Plastics Corporation (U.S.), Amcor Limited (Australia), Reynolds Group Holdings Limited (New Zealand), AptarGroup Inc. (U.S.), Silgan Holdings Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & KG (Germany).
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1 EXECUTIVE SUMMARY
1.1 GLOBAL CAPS & CLOSURES MARKET, BY TYPE
1.2 GLOBAL CAPS & CLOSURES MARKET, BY MATERIAL TYPE
1.3 GLOBAL CAPS & CLOSURES MARKET, BY END-USE INDUSTRY
2 MARKET INTRODUCTION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.2.1 GROWING DEMAND FROM THE FOOD & BEVERAGE INDUSTRY
4.2.2 INNOVATION IN PACKAGING
4.2.3 DRIVERS IMPACT ANALYSIS
4.3.1 FLUCTUATION IN RAW MATERIAL PRICES
4.3.2 STRINGENT REGULATIONS REGARDING THE USE OF PLASTIC AND RECYCLED MATERIALS
4.3.3 RESTRAINTS IMPACT ANALYSIS
4.4.1 SCOPE IN DEVELOPING COUNTRIES
4.5 COVID-19 IMPACT ANALYSIS
4.5.1 ECONOMIC IMPACT
18.104.22.168 IMPACT ON THE OVERALL PACKAGING INDUSTRY
4.5.2 IMPACT ON CAPS & CLOSURES PACKAGING
22.214.171.124 IMPACT ON SUPPLY CHAIN
126.96.36.199.1 PRICE VARIATION OF KEY RAW MATERIALS
188.8.131.52.2 CASH FLOW CONSTRAINTS
184.108.40.206.3 IMPACT ON IMPORT/EXPORT
4.5.3 IMPACT ON MARKET DEMAND
220.127.116.11 CONSUMER SENTIMENTS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 RAW MATERIAL SUPPLY
5.1.4 END USE
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY………
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