The
global caps and closures market is driven by emerging economies.
China and India are two of the key caps and closures markets in the
world. Caps and closures are used mainly in the packaging industry to
preserve products to extend their shelf life. In the past, North
America dominated the global packaging industry. However, the change
in manufacturing trends has led to key companies to shifting their
manufacturing bases from developed economies to emerging economies.
These
trends have, in turn, substantially driven the packaging sector in
emerging economies. Caps and closures being a significant segment in
the global packaging industry will witness strong growth in emerging
markets. Broadly, the global caps and closures market is segmented on
the basis of product type, application, and geography.
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The
research study on the global caps and closures market offers
strategic market forecasts. These forecasts will help businesses
understand the growth framework of the global caps and closures
market for the food and beverages industry. Forecasts for the period
of 2015 to 2021 are available in the report for both volume and
value. In addition to this, the report delivers valuable forecasts
for various segments of the market, which will help firms gauge the
growth prospects of these segments.
Overview
of the Global Caps and Closures Market
In
terms of value, the global caps and closures market is projected to
expand at a CAGR of 5.20% during the forecast period. In 2014, the
market was worth more than US$36.2 bn and by 2021, the market is
expected to be worth over US$51.5 bn. In terms of volume, the global
caps and closures market is expected to expand at a 3.50% CAGR. In
2014, the market recorded 1342.2 bn units and by 2021, it is
projected to record 1702.1 bn units.
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On
the basis of product type, the global caps and closures market is
divided into beverage caps and closures and food caps and closures.
Some of the caps and closures used in the beverage closures segment
are metal screw closures, corks, metal crowns, and plastic screw
closures. In 2014, plastic screw closures led the beverage closures
type segment in the global caps and closures market both in terms of
value and volume in 2015. The rising consumption of beer and bottled
water is driving the plastic screw closures segment in the global
caps and closures market.
Region-wise,
the global caps and closures market is segmented into North America,
Asia Pacific, Europe, the Middle East and Africa, and Latin America.
Asia Pacific dominated the global caps and closures market both in
terms of revenue and volume in 2014. The Asia Pacific market for caps
and closures benefits from the rising demand for metal food cans.
Nevertheless, it is Latin America that is projected to expand at the
highest CAGR of 7.2% in terms of revenue during the forecast period.
Companies
mentioned in the research report
Players
in the global caps and closures market are eyeing emerging economies
of Asia Pacific and Latin America. Some of the key players operating
in the global caps and closures market are Berry Plastics, Crown
Holdings, Silgan Holdings, Closure Systems International, Reynolds
Group Holdings, AptarGroup, and Pact Group Holdings.
Product
types covered under this research study are:
- Food caps and closures
- Beverages caps and closures
Global
Caps and Closures Market for Food and Beverages Industry by Food
Closures Type
Product
types covered under this research study are
- Peel-off foils
- Easy-open can ends
- Metal lug closures
- Plastic screw closures
- Others
Global
Caps and Closures Market for Food and Beverages Industry by Beverage
Closures Type
- Plastic screw closures
- Metal crowns
- Metal screw closures
- Corks
- Others
Global
Caps and Closures Market for Food and Beverages Industry by
Application
- Alcoholic Beverages
- Non Alcoholic Beverages
Global
Caps and Closures Market for Food and Beverages Industry by Alcoholic
Beverages type
- Beer
- Wine
- Others
Global
Caps and Closures Market for Food and Beverages Industry by Non
Alcoholic Beverages type
- Bottled water
- Carbonated soft drinks
- Others
Global
Caps and Closures Market for Food and Beverages Industry by Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
This
report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key
highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
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