Plastic caps and closures are used for sealing bottles and containers to increase the lifespan of the goods contained. The growth of the packaging industry is poised to motivate the growth of the plastic caps and closures market. In this offering by Market Research Future (MRFR), the global market is assessed to reveal that a CAGR of 5.22% is expected during the forecast period 2018 to 2023, exceeding a valuation of 50,000 Mn by 2023.
Increasing use in the packaging of beverages is anticipated to drive the expansion of the plastic caps and closures market in the forthcoming years. The rising sales of beverages owing to the increasing purchasing power are projected to lead the growth of the market in the foreseeable future. Also, the inclination towards the recycling of plastic waste is expected to impact the plastic caps and closures market greatly in the forthcoming years.
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Amcor Limited (Australia), Global Closure Systems (France), Silgan Holdings Inc. (U.S.), Comar LLC (U.S.), Alcoa Corporation (U.S.), AptarGroup (U.S.), TriMas (U.S.), J.L. CLARK (U.S.), Phoenix Closures, Inc. (U.S.), and Guala Closures Group (India) are few of the eminent participants of the plastic caps and closures market. These players are expected to invest in innovative technologies to sustain the changing trends and stay ahead of the curve. Increasing investments in the latest recycling technologies are anticipated to intensify competition among the players of the market over the next couple of years. Some of the growth strategies expected to be employed by these players in the nearby future are strategic partnerships, mergers & acquisitions, collaborations, agreements, facility expansion, pricing policies, regional expansion, etc.
- Distribution vendors
In November 2019, Nestlé S.A., a Swiss multinational food and drink processing company, has announced its collaboration with Warner Bros. and DC for the launch of plastic bottles boasting comic characters such as Shazam, Batman, Superman, and Wonder Woman.
In November 2019, Coca-Cola, a global food & beverage company, has announced that it will be recycling plastic to continue with plastic bottles to cut carbon footprint rather than shifting to aluminum cans.
In November 2019, companies such as Coca-Cola Co., Keurig Dr Pepper, Plano, Atlanta, Texas, and PepsiCo has launched ‘Every Bottle Back’ Initiative to improve the collection of plastic bottles.
In October 2019, Coca-Cola, a food & beverage company, has made the first-ever plastic bottle from the recycled pecan waste.
In October 2019, Ambev SA, a Brazilian beverage firm, has announced that it will launch its first canned water in plastic containers.
Based on type, the segments of the Plastic Caps and Closures Market are dispensing caps, screw caps, and closures.
On the basis of material, the segments of the plastic caps and closures market are polyethylene, polypropylene, and polystyrene.
The end-user segments of the plastic caps and closures market are pharmaceutical, food & beverages, and personal care.
The global plastic and closures market has been studied on the basis of regions. The regional segments identified are – Americas, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA). Americas dominated the market in 2017 and is poised to maintain its holding of the maximum market share over the next few years. Increasing demand for convenience food and beverages in the region is projected to lead the expansion of the plastic caps and closures market in the region. In addition, the increasing developments in recycling technologies are also poised to have a positive impact on the growth pattern of the regional market. Asia Pacific is anticipated to mark a steady CAGR during the review period. Increasing purchasing power is likely to motivate the growth of the plastic caps and closures market in the region by boosting sales in the end-user industries.
At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market and its various components. Use of primary research strategies such as interviews with top-level decision makers of various leading companies in the relevant market combined with secondary research provides a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the demand and supply-side. Credible resources are employed to help data analysts to understand nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameter in an effort to provide clients with a conclusive and dependable view of the future.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 Market Structure
2.4 List of Assumptions
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Europe Food and Drink Industry, 2014-2015
Table 4 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Usd Million)
Table 5 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Million Units)
Table 6 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Weight-th Mt)
Table 7 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Usd Million)
List of Figures
Figure 1 Global Plastic Caps and Closures Market: Market Structure
Figure 2 Key Takeaways From Plastic Caps and Closures Market
Figure 3 Key Buying Criteria of Global Plastic Caps and Closures Market
Figure 4 Research Process of Mrfr
Figure 5 Top Down & Bottom Up Approach
Figure 6 Drivers, Restraints, and Opportunity of Global Plastic Caps and Closures Market
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