New York 10013, United States of America – March 23, 2022 —
Caps and Closures Market Overview
The caps and closure market’s values are estimated at 4.7% CAGR between 2022 and 2030 and may reach USD 91,718 billion by 2027.
Caps and closure consist of plastic, metal, and other materials. The items are valuable in bottles, jars, cartons, containers, and other packets for sealing application. The continuous enhancement of its designs contributes to rising sales in the market. Furthermore, the sales activities provide various production opportunities to its key manufacturers with its recycling and reusing method. Therefore, manufacturers are focusing more on circular packaging to upgrade their recycling activities using post-consumer resin (PCR) in the process.
Although, the user-friendly, durable, and high degree customization features drive the caps and closure market to new heights. In the same way, the product has gained immense popularity among its end-users. As a result, analysts estimated growth in its CAGR rate, i.e., 4.7% in the forecast period. Earlier the CGAR rate of the market was 3.8% between 2015-2020. There has been a significant rise in caps and closure market in recent years, following the increase in demand for child-resistant packaging. All these key factors emerged to escalate the market size and shares simultaneously.
However, like any other market, the caps and closure trade went through a bad phase following the CoViD-19 outbreak. The hats and closure turned out to be very useful for packing food, pharmaceuticals, and other products. It maintains the integrity of product packing and sealing. Though, the food and beverage industry has its online and offline food chains across the globe. Many countries have forced shutdowns, which led to restrictions on the offline food chain from functioning globally. Whereas the online food chain was still available, so was the packing. The market is witnessing an improvement, as the regions affected by the outbreak are urging for filling and sealing supplies.
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Key Players
The major market players in the market are
- Crown Holdings
- Amcor plc
- Closure Systems International
- Ball Corp.
- Silgan Holding, Inc.
- Berry Global, Inc.
- AptarGroup, Inc.
- BERICAP
- Nippon Closures Co. Ltd.
- Sonoco Products Company
Caps and Closures Market Segmentation
The caps and closure market segments its material type, end-users, and region. The material subdivides into plastic, metal, and other elements. End- users are the C&C market sub-divides in food & beverages, packed water bottles, cosmetic products, automotive, pharmaceutical, etc.
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Regional Classification
The regional classification of caps and closure market classifies Europe, North America, Asia-Pacific, Middle-East & Africa, and South America. The Asia-Pacific region will witness high growth in the C&C market due to its enhanced economic infrastructure, from production to consumption. The increasing export and increased consumption of packaged food & beverages will dominate the C&C market size. The rising disposable income in India and China results in increased demand for packaging and sealing. On the other hand, Europe is also playing a vital role in expanding the C&C market. The rise in demand for consumer-friendly products like care, hygiene, beauty, and packing drives the market share. Although, these are the significant drivers of the caps and closure market.
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Recent Development
The caps and closure market will see a massive change in their market size, share, and structure. The C&C industry will improve its CGAR rate by 4.7% in the forecasting period with market segmentation, regional classification, and a rise in demand.
Table of Content
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
2.1 DEFINITION
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
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GROWING DEMAND FROM THE FOOD & BEVERAGE INDUSTRY
4.2.2 INNOVATION IN PACKAGING
4.2.3 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINTS
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 OPPORTUNITY
4.4.1 SCOPE IN DEVELOPING COUNTRIES
4.5 COVID-19 IMPACT ANALYSIS
4.5.1 ECONOMIC IMPACT
4.5.1.1 IMPACT ON THE OVERALL PACKAGING INDUSTRY
4.5.2 IMPACT ON CAPS & CLOSURES PACKAGING
4.5.2.1 IMPACT ON SUPPLY CHAIN
4.5.2.1.1 PRICE VARIATION OF KEY RAW MATERIALS
4.5.2.1.2 CASH FLOW CONSTRAINTS
4.5.2.1.3 IMPACT ON IMPORT/EXPORT
4.5.3 IMPACT ON MARKET DEMAND
4.5.3.1 CONSUMER SENTIMENTS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 RAW MATERIAL SUPPLY
5.1.2 MANUFACTURE
5.1.3 DISTRIBUTION
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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