Plastics Caps & closures Market Forecast With Potential Impact, Despite Covid-19 Pandemic, Finds FMI 2022 - 2029

 The global plastic caps & closures market is estimated at US$ 44 Bn in 2022 and is projected to reach US$ 61 Bn by 2029, at a CAGR of 5.0% from 2022 to 2029.

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.

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. 

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).

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.

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


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