Caps and Closures Market will Exhibit a CAGR of 5.2% between 2015 & 2021

The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the global caps and closures market. The market is currently witnessing impressive demand from Asia Pacific. As per Transparency Market Research (TMR), a paradigm shift in consumer preference from unpackaged to more convenient and packaged food products is fuelling the demand for caps and closures from the region’s packaging industry. The market is also gaining from the rising use of caps and closures in the alcoholic beverages segment. 

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Despite witnessing favorable growth opportunities, the advent of flexible packaging is likely to dampen the market’s growth to an extent. Nevertheless, the increasing investment by manufacturers in novel technologies, designs, and materials is expected to boost the market in the near future.

According to TMR, the global caps and closures market, which stood at US$36.23 bn in 2014, is expected to reach US$51.57 bn by the end of 2021. If these figures hold true, the global caps and closures market will exhibit a CAGR of 5.2% between 2015 and 2021.

Rising Consumption of Alcoholic Beverages to Fuel Demand for Caps and Closures 

In terms of revenue, the alcoholic beverages segment held over 57.35% of the overall caps and closures market in 2014. The rising consumption of beer around the world has been fuelling demand from the alcoholic beverages segment. While this has led to the increasing use of metal crowns for beer bottles, metal closures are fast replacing corks used in wine bottles. The segment is also expected to gain impetus from the rising consumption of wine across emerging economies. 

The non-alcoholic segment includes caps and closures manufactured for the packaging of bottled water and carbonated soft-drinks. The shifting demand of consumers from carbonated soft drinks to bottled water is expected to fuel the demand for caps and closures in this segment. Bottled water is calorie-free, which is the key factor boosting its sales worldwide. This will, in turn, fuel the demand for caps and closures.

Increasing Purchasing Power of Consumers Puts Asia Pacific at the Fore

Regionally, Asia Pacific led the global caps and closure market in 2014, with China and India emerging as lucrative markets. The rising demand for canned food and beverages is the primary factor driving the Asia Pacific caps and closures market. Furthermore, due to rising purchasing power and improving living standards, consumers in this region have become more willing to spend on packaged products and convenient foods. The consumption of alcoholic beverages has increased as well. Spurred by these factors, the market for caps and closures in Asia Pacific is expected to reach US$18.75 bn by the end of 2021.

Besides this, TMR also projects that the market will witness considerable growth in developed economies across Europe and North America. The rising demand for plastic packaging in these regions is fuelling the demand for plastic caps, which in turn, boosts sales opportunities for caps and closures manufacturers.

Some of the leading companies operating in the global caps and closures market are Silgan Holdings, Plastics Corporation, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.

Caps and Closures Market Expected to Reach US$51.6 bn by 2021

The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the global caps and closures market. The market is currently witnessing impressive demand from Asia Pacific. As per Transparency Market Research (TMR), a paradigm shift in consumer preference from unpackaged to more convenient and packaged food products is fuelling the demand for caps and closures from the region’s packaging industry. The market is also gaining from the rising use of caps and closures in the alcoholic beverages segment. 

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Despite witnessing favorable growth opportunities, the advent of flexible packaging is likely to dampen the market’s growth to an extent. Nevertheless, the increasing investment by manufacturers in novel technologies, designs, and materials is expected to boost the market in the near future. 

According to TMR, the global caps and closures market, which stood at US$36.23 bn in 2014, is expected to reach US$51.57 bn by the end of 2021. If these figures hold true, the global caps and closures market will exhibit a CAGR of 5.2% between 2015 and 2021. 

Rising Consumption of Alcoholic Beverages to Fuel Demand for Caps and Closures 

In terms of revenue, the alcoholic beverages segment held over 57.35% of the overall caps and closures market in 2014. The rising consumption of beer around the world has been fuelling demand from the alcoholic beverages segment. While this has led to the increasing use of metal crowns for beer bottles, metal closures are fast replacing corks used in wine bottles. The segment is also expected to gain impetus from the rising consumption of wine across emerging economies. 

The non-alcoholic segment includes caps and closures manufactured for the packaging of bottled water and carbonated soft-drinks. The shifting demand of consumers from carbonated soft drinks to bottled water is expected to fuel the demand for caps and closures in this segment. Bottled water is calorie-free, which is the key factor boosting its sales worldwide. This will, in turn, fuel the demand for caps and closures. 

Increasing Purchasing Power of Consumers Puts Asia Pacific at the Fore 

Regionally, Asia Pacific led the global caps and closure market in 2014, with China and India emerging as lucrative markets. The rising demand for canned food and beverages is the primary factor driving the Asia Pacific caps and closures market. Furthermore, due to rising purchasing power and improving living standards, consumers in this region have become more willing to spend on packaged products and convenient foods. The consumption of alcoholic beverages has increased as well. Spurred by these factors, the market for caps and closures in Asia Pacific is expected to reach US$18.75 bn by the end of 2021.

Besides this, TMR also projects that the market will witness considerable growth in developed economies across Europe and North America. The rising demand for plastic packaging in these regions is fuelling the demand for plastic caps, which in turn, boosts sales opportunities for caps and closures manufacturers. 

Some of the leading companies operating in the global caps and closures market are Silgan Holdings, Plastics Corporation, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.

Caps and Closures Market: Thriving Packaged Foods & Beverages Sector to Drive Market

The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the global caps and closures market. The market is currently witnessing impressive demand from Asia Pacific. As per Transparency Market Research (TMR), a paradigm shift in consumer preference from unpackaged to more convenient and packaged food products is fuelling the demand for caps and closures from the region’s packaging industry. The market is also gaining from the rising use of caps and closures in the alcoholic beverages segment. 

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Despite witnessing favorable growth opportunities, the advent of flexible packaging is likely to dampen the market’s growth to an extent. Nevertheless, the increasing investment by manufacturers in novel technologies, designs, and materials is expected to boost the market in the near future. 

According to TMR, the global caps and closures market, which stood at US$36.23 bn in 2014, is expected to reach US$51.57 bn by the end of 2021. If these figures hold true, the global caps and closures market will exhibit a CAGR of 5.2% between 2015 and 2021. 

Rising Consumption of Alcoholic Beverages to Fuel Demand for Caps and Closures 

In terms of revenue, the alcoholic beverages segment held over 57.35% of the overall caps and closures market in 2014. The rising consumption of beer around the world has been fuelling demand from the alcoholic beverages segment. While this has led to the increasing use of metal crowns for beer bottles, metal screw closures are fast replacing corks used in wine bottles. The segment is also expected to gain impetus from the rising consumption of wine across emerging economies. 

The non-alcoholic segment includes caps and closures manufactured for the packaging of bottled water and carbonated soft-drinks. The shifting demand of consumers from carbonated soft drinks to bottled water is expected to fuel the demand for caps and closures in this segment. Bottled water is calorie-free, which is the key factor boosting its sales worldwide. This will, in turn, fuel the demand for caps and closures. 

Increasing Purchasing Power of Consumers Puts Asia Pacific at the Fore 

Regionally, Asia Pacific led the global caps and closure market in 2014, with China and India emerging as lucrative markets. The rising demand for canned food and beverages is the primary factor driving the Asia Pacific caps and closures market. Furthermore, due to rising purchasing power and improving living standards, consumers in this region have become more willing to spend on packaged products and convenient foods. The consumption of alcoholic beverages has increased as well. Spurred by these factors, the market for caps and closures in Asia Pacific is expected to reach US$18.75 bn by the end of 2021. 

Besides this, TMR also projects that the market will witness considerable growth in developed economies across Europe and North America. The rising demand for plastic packaging in these regions is fuelling the demand for plastic screw caps, which in turn, boosts sales opportunities for caps and closures manufacturers. 

Some of the leading companies operating in the global caps and closures market are Silgan Holdings, Plastics Corporation, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.

Caps and Closure Market size and Key Trends in terms of volume and value 2015-2021

The increasing demand for effective packaging to ensure the longer shelf life of food and beverages is the key factor driving the global caps and closures market. The market is currently witnessing impressive demand from Asia Pacific. As per Transparency Market Research (TMR), a paradigm shift in consumer preference from unpackaged to more convenient and packaged food products is fuelling the demand for caps and closures from the region’s packaging industry. The market is also gaining from the rising use of caps and closures in the alcoholic beverages segment.

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Despite witnessing favorable growth opportunities, the advent of flexible packaging is likely to dampen the market’s growth to an extent. Nevertheless, the increasing investment by manufacturers in novel technologies, designs, and materials is expected to boost the market in the near future.

According to TMR, the global caps and closures market, which stood at US$36.23 bn in 2014, is expected to reach US$51.57 bn by the end of 2021. If these figures hold true, the global caps and closures market will exhibit a CAGR of 5.2% between 2015 and 2021.

Rising Consumption of Alcoholic Beverages to Fuel Demand for Caps and Closures

In terms of revenue, the alcoholic beverages segment held over 57.35% of the overall caps and closures market in 2014. The rising consumption of beer around the world has been fuelling demand from the alcoholic beverages segment. While this has led to the increasing use of metal crowns for beer bottles, metal screw closures are fast replacing corks used in wine bottles. The segment is also expected to gain impetus from the rising consumption of wine across emerging economies.

The non-alcoholic segment includes caps and closures manufactured for the packaging of bottled water and carbonated soft-drinks. The shifting demand of consumers from carbonated soft drinks to bottled water is expected to fuel the demand for caps and closures in this segment. Bottled water is calorie-free, which is the key factor boosting its sales worldwide. This will, in turn, fuel the demand for caps and closures.

Increasing Purchasing Power of Consumers Puts Asia Pacific at the Fore

Regionally, Asia Pacific led the global caps and closure market in 2014, with China and India emerging as lucrative markets. The rising demand for canned food and beverages is the primary factor driving the Asia Pacific caps and closures market. Furthermore, due to rising purchasing power and improving living standards, consumers in this region have become more willing to spend on packaged products and convenient foods. The consumption of alcoholic beverages has increased as well. Spurred by these factors, the market for caps and closures in Asia Pacific is expected to reach US$18.75 bn by the end of 2021.

Besides this, TMR also projects that the market will witness considerable growth in developed economies across Europe and North America. The rising demand for plastic packaging in these regions is fuelling the demand for plastic screw caps, which in turn, boosts sales opportunities for caps and closures manufacturers.

Some of the leading companies operating in the global caps and closures market are Silgan Holdings, Plastics Corporation, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.

Global Caps and Closures Market: Asia Pacific to Stay Frontrunner through 2021, finds TMR

The global caps and closures market features a highly fragmented vendor landscape. To sustain the high competitive rivalry that a fragmented arena invariably bears, key players are adopting strategies that cater to the changing consumer requirements and help them in establishing a strong presence in the market. According to the research by Transparency Market Research (TMR), Berry Plastics, Global Closure Systems, Silgan Holdings Inc., Crown Holdings Inc., Bericap, and Reynolds Group Holdings Ltd. Are among the torch bearers in the global marketplace.

“Mergers and acquisition and product innovation are some of the go-to strategies for the majority of these players to expand their product portfolio and stay relevant in the global caps and closure market,” says TMR’s lead analyst. The market is anticipated to rise to a valuation of US$51.57 bn by 2021, expanding at a 5.2% CAGR between 2015 and 2021.

Demand for Caps and Closures to Remain High for Alcoholic Beverages through 2021

By application, the alcoholic beverages segment will continue to account for the leading share in the market in terms of revenue until 2021. The growing consumption of beer and wine is supplementing the growth of the segment. On the basis of geography, Asia Pacific will continue to dominate the market until 2021, reaching a valuation of US$18.75 bn. The increasing sales of canned food and beverages due to the improving living standards and rising purchasing power are fuelling the demand for caps and closures in the region.

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Flourishing Growth of Packaging Industry to Provide Fillip to Caps and Closures Market

With the booming packaging industry worldwide, the global market for caps and closures is expected to tread along a phenomenal growth trajectory. Packaging helps in extending the shelf life of food and beverages and also in retaining their flavor and texture for a longer duration. “The rising health and hygiene consciousness among the populace in countries such as Brazil, China, and India are causing a shift in preference from unpackaged to packaged food items. This is working in favor of the packaging industry, thus triggering the demand for caps and closures,” says a TMR analyst.

The soaring demand for plastic caps and closures in the beverages sector is allowing the overall market to gain impetus. The spiraling use of PET-based disposable bottles is translating into the greater sales of plastic caps and closures.

Burgeoning Adoption of Flexible Packaging to Hamper Growth Prospects

The stiff competition from the flexible packaging industry is jeopardizing the presence of caps and closures. Flexible packaging systems such as pouches are making inroads into the shares of containers using caps and closures, especially in the food and beverage industry. In addition to this, flexible packaging is lighter in weight due to materials such as aluminum, paper, PVC, and polypropylene used for manufacturing it. This is allowing it to emerge as a strong substitute for caps and closures.

Due to the dynamic nature of the packaging industry, manufacturers are constantly under the pressure of changing designs of their offerings. The recent trend of lightweight packaging is prompting them to manufacture lightweight and cost-effective caps and closures. However, lightweight caps are highly susceptible to cracking and contamination. This, in turn, is impeding the upward climb of the market.

The above preview is based on the report by TMR, titled “Caps and Closures Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2021.”

Global Caps and Closures Market, by Food Closures Type 

• Peel-off foils
• Easy-open can ends
• Metal lug closures
• Plastic screw closures
• Others

Global Caps and Closures Market, by Beverage Closures Type

• Plastic screw closures
• Metal crowns
• Metal screw closures
• Corks
• Others

Global Caps and Closures Market, by Application

• Alcoholic Beverages
• Non Alcoholic Beverages

Global Caps and Closures Market, by Alcoholic Beverages type

• Beer
• Wine
• Others

Global Caps and Closures Market, by Non Alcoholic Beverages type

• Bottled water
• Carbonated soft drinks
• Others

High Consumption of Beer and Wines to Boost Caps and Closures Market

Effective packaging has become extremely essential so as to give long life to food and beverages. An important part of safe packaging for canisters, bottles, tubes, beverages cartons, and cans is the use of caps and closures. The caps and closures market is estimated to witness a high demand in the near future as there has been a shift in the consumer preference from unpackaged to packaged food products, as they offer more convenience. This shift in preference can be observed especially among the emerging nations of China, India, and Brazil. According to a recently published report by Transparency Market Research (TMR), a market intelligence company, the global caps and closure market will rise from US$36.23 bn in 2014 to US$51.57 bn by the end of 2021, witnessing a modest growth of 5.2% CAGR between 2015 and 2021.

Given below are three important questions regarding the caps and closures market, which experts from TMR answer:

Q. How is the use of plastic benefitting the global caps and closures market?

There has been a steady increase in the use of PET-based disposable bottles. The main reason behind the increase in the uptake of PET based disposable bottles is their light weight and low cost. These benefits of plastic caps and closures have resulted in them being used on gable top, stand-up pouches, and aseptic cartons. Technological advancements are also behind the growth of the use of plastic in caps and closures, as they improve the hot-fill processing. This in turn is creating a favorable environment for the manufacturers of plastic caps and closures.

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Q. What are the challenges faced by manufacturers of caps and closures?

Manufacturers are under the pressure of lowering the cost of caps and closures as flexible packaging is gaining traction and impacting the market. Pouches are one form of flexible packaging, which is becoming increasingly popular owing to their light weight, and since it eliminates the need to use caps and closures, the market is becoming affected. Thus, manufacturers in the caps and closures industries are attempting not only to reduce the cost but also to manufacture light weight caps and closures. This in turn is negatively impacting the quality of caps and closures as they are more prone to cracking. Weak caps and closures can lead to food and beverage contamination and not provide effective sealing and this can further affect the market for caps and closures.

Q. Which application segment is anticipated to lead in the coming years and why?

Among the two applications of caps and closures market for food and beverages, namely alcoholic and non-alcoholic beverage type, the alcoholic beverage segment accounted for 57.35% of the market in 2014. The alcoholic beverages segment is likely to continue to lead in the coming years on account of the high rate of beer being consumed across the globe. The consumption of wines has also increased in recent times and this will also help the market to grow.

Global Caps and Closure Market: Asia Pacific to Remain Leading Consumer through 2021, finds TMR

The global caps and closures market is a highly fragmented arena. Transparency Market Research (TMR) observes that several players in the market are pouring sizeable funds into the research and development of new products and fine-tune existing products in order to better serve their customer base. Some of the leading players in the market are Silgan Holdings Inc., Bericap, Global Closure Systems, and Crown Holdings Inc. “The majority of the prominent players have adopted mergers and acquisitions as a part of their key business strategies in order to enhance their product portfolio and consolidate market position,” says TMR’s lead analyst.

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Beverage Caps and Closures to Retain Dominance Until 2021

The global caps and closure market stood at approximately 1429 bn units in 2016 and is expected to reach 1702.17 bn units by 2021, progressing at a CAGR of 3.5% from 2015 to 2021. On the basis of product, the market will continue to be dominated by beverage caps and closures until 2021, primarily owing to the rising consumption of alcoholic and non-alcoholic beverages. The food caps and closures segment is anticipated to rise at a higher CAGR of 4.0% in terms of volume during the forecast period.

Asia Pacific will continue to be the leading regional segment until 2021, accounting for more than 35% of the overall market volume. The growth of the region can be attributed to the increasing demand for metal food cans, rapid urbanization, and rising purchasing power. The growth of the market will be majorly stimulated by the growing demand for caps and closures from China and India. Latin America is poised to exhibit a CAGR of 6.1% during the same period. The rising consumption of non-alcoholic beverages is contributing to the growth of the region.

Growing Demand from Packaging Industry to Propel Growth Prospects

Packaging aims at providing extended shelf life to food and beverages and other end-products, retaining their taste, texture, and flavor for a long period of time. Since caps and closures play a crucial role in extending the shelf life of food and beverages, their demand across the packaging industry is increasing sharply. In addition, the shifting preference of consumers in emerging countries such as India, Brazil, and China from unpackaged to packaged goods is triggering the demand for caps and closures.

Moreover, the growing demand for plastic caps and closures is working in favor of the growth of the overall market. “The light weight, high convenience, and cost effectiveness of plastics is driving their adoption for the manufacturing of caps and closures,” says a TMR analyst.

Rising Adoption of Flexible Packaging to Hamper Market Growth

The growth of the market is threatened by the increasing adoption of flexible packaging. Flexible packaging includes pouches, which are increasingly replacing caps and closures, due to their convenience and durability of raw materials used. Moreover, manufacturers are focusing towards the production of lightweight and cost effective caps and closures due to the increasing pressure from consumers regarding cutting down the cost. However, this is adversely affecting the growth of the market as light weight products are more susceptible to contamination, cracking, and sealing failure, thereby resulting in leakage.

The above data is collated from a research report released by TMR, titled “Caps and Closures Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”

The report segments the global caps and closures market as follows:

Global Caps and Closures Market, by Product Type

Food Caps and Closures

• Peel-off foils
• Easy-open can ends
• Metal lug closures
• Plastic screw closures
• Others

Beverages Caps and Closures

• Plastic screw closures
• Metal crowns
• Metal screw closures
• Corks
• Others

Uptake of Flexible Packaging to Negatively Impact Sales of Caps and Closures, Reports TMR

With the top six players including Silgan Holdings Inc, Global Closure Systems, Bericap, Crown Holdings, Inc., Berry Plastics, and Reynolds Group Holdings Ltd. barely accounting for 19.7% in 2014 the global caps and closures market exhibits a highly fragmented vendor landscape. Competition prevailing in the market is therefore considerably high and there are little chances of it declining in the next few years. According to Transparency Market Research, (TMR), key players have been adopting competitive strategies to cater to the dynamic consumer demand and establish a strong presence in the market. A majority of the companies operating in the caps and closures market are considering mergers and acquisitions to expand their footprint in emerging markets and expand their product portfolio. Besides this, product development has also become a part of their business strategy for strengthening their market position.

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According to TMR, the global caps and closures market was valued at US$36.23 bn in 2014. Rising at a CAGR of 5.2%, the market is expected to reach US$51.57 bn by the end of 2021. By application, the alcoholic beverages segment led the market in 2014, holding a share of 57.35% in terms of revenue. Regionally Asia Pacific is expected to maintain its dominance in the market through the forecast period.

Demand from Packaging Industry to Emerge as Major Growth Driver

“The caps and closures market is significantly gaining from the increasing demand from the packaging industry,” said a lead TMR analyst. Packaging extends the shelf life of food and beverages and helps retain their texture and flavor for a longer time. “A paradigm shift in consumer preference from unpackaged to packaged food items in countries such as India, China, and Brazil will augur well for the packaging industry, thus fuelling the demand for caps and closures,” added the TMR analyst.

The market will also gain impetus from the rising demand for plastic caps and closures as their demand has recently surged in the beverages industry. The increasing use of PET-based disposable bottles will translate into lucrative sales opportunities for manufacturers of plastic caps and closures. Ensuring cost-effectiveness and light weight are crucial aspects in the production of PET-based disposable bottles. The use of plastic caps and closures in the industry is therefore expected to increase in the forthcoming years.

Demand for Lightweight and Cost-effective Packaging Could Dampen Market’s Growth

Despite witnessing favorable growth opportunities, competition from the flexible packaging industry will dampen the market’s growth to an extent. Flexible packaging such as pouches is fast replacing containers that require caps and closures in the food and beverages industry. This is expected to negatively affect the sales of caps and closures. Moreover, flexible packaging is lighter in weight because it is made using materials such as PVC, paper, aluminum, and polypropylene. This is helping flexible packaging emerge as a potential substitute for caps and closures.

Due to recent changes in the packaging industry, manufacturers are under pressure to lower the cost of caps and closures. The trend of lightweight packaging is compelling them to produce cost-effective and lightweight caps. Contrary to this, lightweight caps are more prone to cracking, sealing, and contamination. This could negatively impact the market’s trajectory.

Nevertheless, a dynamic consumer demand has impelled manufacturers to invest in product innovation. The emergence of novel technologies, designs, and new materials is expected to create growth opportunities for the market.

This review is based on a report published by TMR, titled “Caps and Closures Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”

Key Takeaways:

• Product development is the key strategy adopted by leading players to cater to a dynamic consumer demand.
• Spurred by demand from the packaging industry, global caps and closures market to expand at 5.2% CAGR from 2015-2021.
• Holding over 57.35% of the market in terms of revenue, alcoholic beverages emerged as the leading segment in 2014.

Latin America Shows the Fastest Growth Rate in Global Caps and Closures Market

Caps and closures form a crucial segment of the packaging industry. Their primary usage is to protect a product within its holding container and to extend its shelf life. The two primary raw materials used in the global caps and closures market are metal and plastic. The global caps and closures market also makes use of other raw materials such as paper, wood, and glass.

The global caps and closures market is growing at a CAGR of 5.2% from 2015 to 2021. The market’s value at the end of 2014 was US$36.23 bn. By the end of 2021, the global caps and closures market is expected to reach US$51.57 bn. According to volume, the global caps and closures market is growing at a CAGR of 3.5% from 2015 to 2021, going from a 2014 volume of 1,345.2 bn units to a predicted 1,702.1 bn units in 2021.

Latin America the Fastest-Growing Region in Global Caps and Closures Market

In terms of revenue, the Latin America caps and closures market for food and beverages is expected to grow at a CAGR of 7.1% from 2015 to 2021. The same market is expected to show a CAGR of 6.1% for volume in the same forecast period. It is the fastest growing regional segment of the global caps and closures market. Within Latin America, Brazil is the fastest growing national caps and closures market. The key growth driver for the Latin America caps and closures market for F&B is the increasing consumption of packaged soft drinks, alcoholic drinks, and bottled water. The increase in consumption of carbonated water and soft drinks is especially predicted to be a major driving force for the growth of the plastic screw closures segment in Brazil.

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Asia Pacific Largest Region in Global Caps and Closures Market

While Latin America is set to be the fastest growing region in the global caps and closures market, Asia Pacific is currently its largest region. Experts believe that the current rate of growth in terms of revenue and volume is expected to help Asia Pacific retain its leading position in the global caps and closures market. The region is propelled by an increase in demand for screw closures in the dairy industry, especially in India, Japan, and China. The growing number of Asia Pacific consumers of bottled water and fruit drinks is also boosting the global caps and closures market.

Beverage Caps and Closures Dominate Global Market

The shift from unpackaged to packaged goods is creating a growth in demand from the global caps and closures market in developing regions. These regions have shown a high preference to beverages that use caps and closures that will extend the product’s longevity, and ensure the taste and safety of the beverage. On the other hand, plastic screws dominate the beverage closures segment due to their high rate of use in major drinks, condiments, and dressings.

The top companies operating in the global caps and closures market are Crown Holdings, Inc., Bericap, Global Closure Systems, and Siligan Holdings, Inc

Global Caps and Closures Market to Reach US$51.6 bn by 2021, Increasing Need for Durable Packaging Drives Growth

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

Caps & Closures Market - Demand and Sales Forecasts, Market Size, Market Leaders

Transparency Market Research has published a new report, titled “Caps and Closures Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021”. According to this report, in terms of value, the global caps and closures market for the food and beverages industry is projected to expand at a 5.20% CAGR during the forecast period. In 2014, the global caps and closures market was worth more than US$36.2 bn and by 2021, the market is expected to be worth over US$51.5 bn.

Volume-wise, the global caps and closures market for the food and beverages industry is projected to expand at a 3.50% CAGR during the forecast period. In 2014, the global caps and closures market for the food and beverages industry recorded 1,342.2 bn units and by 2021, the market is projected to record 1,702.1 bn.

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By product type, the global caps and closures market for the food and beverages industry is segmented into food caps and closures and beverages caps and closures. Within the food closures type, the global caps and closures market for the food and beverages industry is divided into peel-off foils, metal lug closures, easy-open can ends, plastic screw closures, and others. Within the beverage closures type, the global caps and closures market for the food and beverages industry is classified into metal crowns, plastic screw closures, metal screw closures, corks, and others. In 2014, the segment of plastic screw closures held the largest share in the global caps and closures market for the food and beverages industry and is projected to continue its dominance in the foreseeable future.

Application-wise, the global caps and closures market for the food and beverages industry is divided into non-alcoholic beverages and alcoholic beverages. Some of the alcoholic beverage types covered in the study are beer and wine. Some of the non-alcoholic beverage types analyzed in the study are carbonated soft drinks and bottled water.

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Region-wise, the global caps and closures market for the food and beverages industry is divided into Latin America, the Middle East and Africa, Asia Pacific, Europe, and North America. In 2014, Asia Pacific dominated the global caps and closures market for the food and beverages industry in terms of volume and value. However, by volume and revenue, Latin America is the fastest growing market in the global caps and closures market for the food and beverages industry.

In Latin America, Brazil is the fastest growing national market. The Latin America caps and closures market for the food and beverages industry benefits from the growing consumption of non-alcoholic beverages such as carbonated soft drinks and bottled water. The Latin America caps and closures market for the food and beverages industry is projected to expand at a CAGR of 7.20% and 6.10% in terms of revenue and volume, respectively, during the forecasting horizon.

Players in the global caps and closures market for the food and beverages industry will benefit from the growing demand for packaged food and beverages items. Some of the key companies operating in the global caps and closures market for the food and beverages industry are Berry Plastics Corporation, Closure Systems International, Crown Holdings, Silgan Holdings, Aptar Group, and Pact Group Holdings.

Key Segments of the Global Caps and Closures Market

Global Caps and Closures Market for Food and Beverages Industry by Product Type

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

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