Report Description
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:
Definition
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.
Market Drivers
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.
Market Restraints
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.
Opportunities
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.
Trends
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.
Segment Covered:
This market
intelligence report on the global Caps and Closures Market encompasses market segments based on material type, application
and country.
By Material Type the global Caps and
Closures Market has been divided into:
q Plastic
q Metals
q Others
(Wood, Fibre, Paperboard)
By Application
the global Caps and Closures Market has been divided into:
q Food
and Beverages
q Pharmaceutical
q Consumer
Goods
q Cosmetics
and Personal Care Products
q Others
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.
Report Highlights:
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
TriMas Corporation
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.
UNITED CAPS
In April 2018,
the acquisition of Embalatap was announced by UNITED CAPS. Embalatap is a Spain
based producer of caps and closures.
AptarGroup Inc
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.
Salient Features:
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
