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Europe Plastic Caps and Closures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)

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  • 120 Pages
  • October 2021
  • Region: Europe
  • Mordor Intelligence
  • ID: 5458967

The Europe plastic caps and closures market is expected to grow at a CAGR of 4.5% during the forecast period (2021-2026). The impact of COVID-19 on the plastic caps and closures market is very minimal as it supports the end-user industries such as beverages, food, pharmaceutical and healthcare, cosmetics and toiletries, etc., which comes under essential services and were not discontinued even amidst the lockdown restrictions. However, the supply chain disruptions caused in starting four months of 2020 has resulted in order delays and lead time across the supply chain.

Key Highlights

  • Food consumption has been witnessing high growth. This has led to a demand for packaged food products with longer shelf life and sterility. Various companies in Europe around manufacturing packages, which help in achieving these objectives so that manufacturers of food products can transport and sell their products to the end-customers. Also, the pharmaceuticals industry is anticipated to generate demand for tamper-evident caps and closures, as they offer child-resistant and contamination-free packaging.
  • Although the majority of caps and closures demand in unit terms is for low-cost commodity types such as plastic screw caps and metal crowns, market value growth will be driven by the growing use of more sophisticated closure products in packaging for pharmaceuticals and beauty care products. While gains in the developing countries will generally be faster than those in developed markets, growth opportunities will also exist in the large West European markets.
  • Some of the key trends in the beverage sector include shifting to larger pack sizes in some categories, such as beer and carbonates, impacting the size and type of closure used. Meanwhile, in the still drinks, packaged water, and sports drinks categories, where on-the-go consumption is a primary driver of demand, smaller individual pack sizes are becoming more common.
  • The food and beverage insudtry is the largest manufacturing sector in the United Kingdom, larger than the automotive and aerospace sector combined. The total food and beverage export figures worth more than GBP 23 billion, with an industry turnover of GBP 104 billion, accounting for 19% of the total UK manufacturing. The revenue generated from the manufacturing of food products in the United Kingdom amounted to USD 106.58 billion in 2018, and it is expected to reach USD 117.72 billion by 2024.
  • Some end users already start moving towards lighter weight closures, which contribute to meeting beverage companies' environmental targets and saving material and energy costs. In an effort to reduce pollution, European Union recently banned a range of single-use plastic products on Saturday, including straws, plates, cutlery, etc. whereas drinking bottles must contain 30% recycled plastics.

Key Market Trends

Beverage Industry is Expected to Grow Significantly

  • Bottled water in Europe holds a steady market share among other packaged non-alcoholic drinks, with 82% of consumers preferring to drink natural mineral water, and 15% of these consumers indicating their spring water preference. According to European Federation of Bottled Waters, of all the non-alcoholic beverages, 48% is consumed as packaged water, 38% as soft drinks, 7% as juice and nectars, and 6% as dilutable . Due to such high consumption of beverages, the demand for plastic caps and closures is expected to increase.
  • In addition, millions of bottles of beverages are being counterfeited, leading to adverse consequences. Such consequences drive the need for anti-counterfeit resistant caps and closures with additional features, such as ease of opening, sealing and closing, and multiple design possibilities at optimal rates. Thus, there is a growth in demand for caps and closures.
  • Beer, carbonated soft drinks (CSD), and bottled water are the largest segments. While the beer production is advancing slowly but CSD consumption is declining in many areas, whereas bottled water consumption will continue to increase in most parts of the Europe, primarily benefiting plastic caps used on PET bottles. The most established beverage categories such as milk and fruit juice will offer subpar growth opportunities, while newer beverage categories including ready-to-drink tea and coffee, sports drinks, and other healthy beverage alternatives will lift overall demand for beverage closures.
  • In Europe, the per capita consumption of plastic caps & closures is high, which will result in limited future growth. The growing trend of consuming healthy beverages, including juices and functional drinks among health-conscious consumers, has also led to the decline in carbonated soft drinks in a few mature markets. The declining soft drink sales in the last five years have hampered the growth of the beverage packaging sector, which is the largest end-user.

United Kingdom is Expected to Hold Significant Market Share

  • The United Kingdom is one of the biggest wine consuming countries in Europe. According to International Organization of Vine and Wine, in 2020, United Kingdom ranked 4th with share of 6% of the total worldwide wine consumption. The growing preference for plastic/synthetic corks and screw caps over natural corks is the new trend that can seen in this market. In addition, synthetic/plastic corks are not prone to TCA taint, providing predictable oxygen transfer rates and a tight immovable seal and can be up to three times cheaper than natural cork.
  • Since consumers are becoming more health-conscious, and the demand for healthy beverages is on the rise, along with rising personal incomes. This has made bottled water more accessible to individuals and is a boosting factor for the growth of the caps and closures market. According to European Federation of Bottled Water, per capita consumption of bottled water in United Kingdom is 37 litres which is far less than European Union average of 118 litres but in future the bottled water consumption will rise.
  • The primary closures used in the bottled water industry are standard plastic threaded caps and dispensing closures. However, some bottled waters both in single-serving PET and bulk containers made from high-density polyethylene (HDPE) utilize both a dispensing closure (such as a push-pull sports cap or bulk waterspout) and a protective overcap.
  • According to British Soft Drinks Association, United Kingdom soft drink market was growing at a CAGR of 2.62% (2015-2019), but in 2020, first time in seven years soft drink market witnessed a sharp decline of 10.5% in market value. With most of the country lived in lockdown conditions for months, a radical change in purchasing patterns explains the decline in value sales in the Total Soft Drinks market in 2020.

Competitive Landscape

The Europe plastic caps and closures market is moderately concentrated due to higher initial investments. It is dominated by a few major players like Albea Group, Tetra Pak International SA, BERICAP GmbH & Company KG, Berry Global Inc. and among others. These significant players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.

  • June 2021 - Bericap Global Inc. acquired Mala Verschluss-Systeme GmbH, a manufacturer of aluminum roll-on caps. Mala gains access to new markets and BERICAP’s product portfolio is extended to include aluminum closures. The acquisition will allow BERICAP to continue on its growth trajectory and, with Mala on board, it has the opportunity to open up new market segments and to develop innovative closure technologies combining plastic and aluminum.
  • June 2021 - AptarGroup Inc., partnered with REBO, a smart bottle manufacturer, to advance its market knowledge on emerging trends and leverage its manufacturing, regulatory and innovation expertise. REBO launched a water bottle that uses Bluetooth technology embedded in the cap to track the amount of water consumed. A personalized hydration app (iOS and Android) syncs with the REBO bottle’s smart cap to track health goals. The bottle lights up and sends consumers reminders to stay hydrated. This water bottle makes consumers aware of their personal contribution in avoiding plastic bottles ending up in the environment.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Intensity of Competitive Rivalry
4.3.5 Threat of Substitute Products
4.4 Assessment of COVID-19 Impact on the Industry
4.5 Market Drivers
4.5.1 Product Innovation to Aid Product Differentiation and Branding
4.5.2 Rising Demand for Smaller-sized Packs
4.6 Market Restraints
4.6.1 Lightweight and Cost-effective Stand-up Pouch Packaging Alternatives
6.1 Material
6.1.1 PET
6.1.2 PP
6.1.3 LDPE and HDPE
6.1.4 Other Materials
6.2 End-user
6.2.1 Beverage (Bottled Water, Beer, Dairy, RTD, Wine, Spirits, etc.)
6.2.2 Food
6.2.3 Pharmaceutical and Healthcare
6.2.4 Cosmetics and Toiletries
6.2.5 Household Chemicals (Detergents, Cleaners, Soaps, and Polishes)
6.2.6 Other End-user Industries(Automotive Cleaners, Paints and Coatings, Chemicals, etc.)
6.3 Geography
6.3.1 United Kingdom
6.3.2 Germany
6.3.3 Italy
6.3.4 Rest of Europe
7.1 Company Profiles
7.1.1 Albea Group
7.1.2 Amcor PLC
7.1.3 Crown Holdings Inc.
7.1.4 BERICAP GmbH & Company KG
7.1.5 Berry Global
7.1.6 Guala Closures Group
7.1.7 AptarGroup Inc.
7.1.8 Coral Products PLC
7.1.9 Pelliconi & C. SPA
7.1.10 Nippon closures Co. Ltd
7.1.11 Tetra Pak International SA
7.1.12 SKS Bottle & Packaging Inc.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Albea Group
  • Amcor PLC
  • Crown Holdings Inc.
  • BERICAP GmbH & Company KG
  • Berry Global
  • Guala Closures Group
  • AptarGroup Inc.
  • Coral Products PLC
  • Pelliconi & C. SPA
  • Nippon closures Co. Ltd
  • Tetra Pak International SA
  • SKS Bottle & Packaging Inc.