In-Depth Analysis of the Covid-19 Impact on Global Plastic Caps & Closures Market

 Soaring consumption of carbonated and non-carbonated drinks has been translating into improving prospects of bottles, jars, and other similar packaging formats, which in turn, lead to increasing sales of plastic caps & closures. The global plastics caps & closures market is projected to clock an impressive CAGR of 5% during 2022 – 2029, majorly driven by the consistent demand for plastics caps & closures of bottles, jars, tubes, and containers. The thriving trend of convenience packaging is further driving sales of different types of plastics caps & closures such as screw, snap, and push & pull caps & closures.

As per FMI estimates, the plastic caps & closures market is anticipated to create an incremental opportunity of US$ 18 Bn by the end of 2029.The plastic caps & closures market totaled to US$ 41 Bn by market value in 2021, according to FMI. The overall plastic caps & closures market is likely to expand 1.4x the current market value by the end of 2029.

Looking at the growth of food & beverages industry across developing Asian economies and the subsequent rise in demand for convenient packaging formats, manufacturers of plastics caps & closures are most likely to spot profits in Asia Pacific (excluding Japan).

Top Key Players Covered –

Berry Global, Inc.,

Amcor plc,

Silgan Plastics,

Aptar, Inc.,

O.Berk Company, LLC

Bericap GmbH & Co KG

UNITED CAPS

CL Smith Company

Closure Systems International, Inc.

BLACKHAWK MOLDING CO., Inc.

Georg MENSHEN GmbH & Co. KG

Mold-Rite Plastic, LLC

Plasticap Inc.

Guala Closures S.p.A

Weener Plastik GmbH.

Key Takeaways – Plastics Caps & Closures Market Study

Screw caps & closures are experiencing the unmatchable demand, especially in the beverage industry as this packaging solution maintains the optimum air levels in bottles and provides convenient opening and closing.

Thermoplastics such as polyethylene (PE), polypropylene (PP), and others dominate the global plastics caps & closures market in terms of material. Use of these plastics for manufacturing plastics caps and closure offers advantages such as low processing cost as well as lightweight and high strength products.

The beverage industry has been identified as the key end user of the plastics caps & closures, as this sector generates a constant demand for plastics caps & closures to pack a wide variety of carbonated and non-carbonated drinks.

Rising Demand for Convenience Packaging and Small Bottles

Consumers prefer to bring their favorite products with them when they go to different places. Millennials across the globe are more inclined towards convenience packaging as these packaging solutions are easy to carry, easy to dispose, and have better flow control. High preference for these convenience packaging products over conventional packaging products, especially from the Generation Z, boosts the demand for plastics caps & closures. The rapidly rising adoption of smaller bottles due to the current “on-the-go and breakfast bottles” trend in the beverage industry is another factor that propels growth of the plastics caps & closures market.

Plastic Caps & Closures Market by CategoryBy Caps Type:

Screw Closures

Snap Closures

Push-Pull Closures

Others

By Material Type:

Thermoplastic

PE

LDPE/LLDPE

HDPE

PP

Others (PS, PET etc.)

Thermosets

By End Use:

Beverage

Food

Pharmaceutical

Household

Cosmetics & Personal Care

Others (Chemicals, Fertilizers etc.)

By Region:

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific

MEA

Japan

About Plastics Caps & closures Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global plastics caps & closures market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study provides growth projections on the plastics caps & closures market on the basis of cap type (screw closures, snap closures, push-pull closures, and other), material type (thermoplastics and thermoset) and by end-use (beverage, food, pharmaceuticals, household, cosmetics & personal care, and others (chemicals & fertilizers, etc.) across seven major regions.

Read More @ https://www.futuremarketinsights.com/reports/plastic-caps-and-closures-market

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