Soaring consumption of carbonated and non-carbonated drinks has been translating into improving prospects of bottles, jars, and other similar packaging formats, which in turn, lead to increasing sales of plastic caps & closures.
The global plastics caps & closures market is projected to clock an impressive CAGR of 5% during 2019 – 2029, majorly driven by the consistent demand for plastics caps & closures of bottles, jars, tubes, and containers. The thriving trend of convenience packaging is further driving sales of different types of plastics caps & closures such as screw, snap, and push & pull caps & closures.
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Key Takeaways – Plastics Caps & Closures Market Study
Looking at the growth of food & beverages industry across developing Asian economies and the subsequent rise in demand for convenient packaging formats, manufacturers of plastics caps & closures are most likely to spot profits in Asia Pacific (excluding Japan).
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Rising Demand for Convenience Packaging and Small Bottles
Consumers prefer to bring their favorite products with them when they go to different places. Millennials across the globe are more inclined towards convenience packaging as these packaging solutions are easy to carry, easy to dispose, and have better flow control. High preference for these convenience packaging products over conventional packaging products, especially from the Generation Z, boosts the demand for plastics caps & closures. The rapidly rising adoption of smaller bottles due to the current “on-the-go and breakfast bottles” trend in the beverage industry is another factor that propels growth of the plastics caps & closures market.
About Plastics Caps & closures Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global plastics caps & closures market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study provides growth projections on the plastics caps & closures market on the basis of cap type (screw closures, snap closures, push-pull closures, and other), material type (thermoplastics and thermoset) and by end-use (beverage, food, pharmaceuticals, household, cosmetics & personal care, and others (chemicals & fertilizers, etc.) across seven major regions.
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