Transparency
Market Research (TMR) has recently published a study on the global
caps and closures market, estimating the market to expand at a
CAGR of 5.20% during the period from 2015 and 2021.The research
report, titled “Caps and Closures Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021,”
expects this market to increase from a value of US$36.2 bn in 2014 to
an estimated value of US$51.6 bn by the end of the forecast period.
In
2014, 1,342.2 bn units of caps and closure were produced in the
global market. Rising at a CAGR of 3.50% during the forecast period,
the production is likely to reach an estimated number of 1,702.1 bn
units by the end of 2021, states the research report.
From
the pharmaceuticals market to the food and beverage industry, caps
and closures have widespread applications across various sectors.
They are utilized to seal bottles, cans, tubes, and several other
types of packaging in order to extend the shelf life of products. The
increasing demand for food and beverages in the global arena has
fueled the need for durable packaging, resulting in a significant
rise in the demand for caps and closures across the world.
In
this report, the global caps and closure market has been analyzed on
the basis of type, application, and the regional spread of this
market. Based on the type, the market has been classified into caps
and closures used for food items and caps and closures used for
beverage products. In 2014, the market for caps and closure used for
beverages occupied the largest share in the overall market.
The
market for caps and closures used for beverages has been further
categorized into plastic screw closures, corks, metal screw closures,
metal crowns, and other closures. Additionally, the market for caps
and closures used for food items has been segmented into easy-open
can ends, peel-off foils, plastic screw closures, metal lug closures,
and various other types of caps and closures.
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Alcoholic
beverages and non-alcoholic beverages have been identified as the key
application areas of caps and closures in this market study. The
alcoholic beverages segment has been classified into wine, beer, and
other alcoholic beverages and the non-alcoholic beverages segment has
been categorized into carbonated soft drinks, bottled water, and
other non-alcoholic drinks.
By
geography, the report has segmented this market into Latin America,
North America, Europe, Asia Pacific, and the Middle East and Africa.
In 2014, Asia Pacific led the overall market in terms of both volume
and revenue. Analysts expect this hierarchy to continue during the
forecast period, ensuring the dominance of this regional market in
the near future, notes the study.
Pact
Group Holdings Ltd., Berry Plastics Corp., AptarGroup Inc., Silgan
Holdings Inc., BERICAP GmbH und Co. KG, Crown Holdings Inc., Closure
Systems International (CSI), and Reynolds Group Holdings Ltd. are the
major companies operating in the global caps and closures market
profiled in this report.
The
global caps and closures market is segmented into:
By
Type
- Caps and Closures for Food Items
- Peel-off foils
- Easy-open can ends
- Metal lug closures
- Plastic screw closures
- Others
Caps
and Closures for Beverages
- Plastic screw closures
- Metal crowns
- Metal screw closures
- Corks
- Others
By
Application
- Alcoholic Beverages
- Beer
- Wine
- Others
- Non Alcoholic Beverages
- Bottled water
- Carbonated soft drinks
- Others
By
Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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