The primary function of caps and closures is to keep the container closed and the contents maintained for the specified shelf life. In addition, theyprovides a barrier for dirt, moisture, and oxygen and keeps the product secure from undesired premature opening. Caps and closures are mainly used in the packaging industry to preserve products to extend their shelf life. The caps and closures industry uses different types of materials to construct suitable product packaging, such as plastics, metals, rubber, and wood.
The caps and closures market is mainly driven by the packaging industry. The main motto of the packaging industry is to provide food and beverages with extended shelf-life and the products that preserve flavor, texture, and taste for a long time. Moreover, the increasing demand for the packaging market is driving the caps and closures market towards global growth. The other factors that contribute to the growth of the market include the pharmaceuticals market, cosmetics, fast-moving consumer goods (FMCG), and others. However, the major restraint limiting the growth of the caps and closures market is the unstable price of raw materials such as high-density polyethylene (HDPE) and polypropylene (PP). Eco-friendly caps and closures, with the use of natural ingredients and recycling processes, are expected to provide ample of opportunities for this market to grow across the globe.
The heavy promotion of go-green projects and eco-friendly concepts by the governments of all countries provides opportunities for the caps and closures market. The plastic and other chemicals widely used in the process of manufacturing caps and closures affect the environment. The requirement of eco-friendly caps and closures, which use recycled and natural ingredients such as wood and paperboard, is expected to increase. Moreover, the use of eco-friendly material such as paperboard, wood, bamboo, PCR (Post Consumer Resin), PIR (Post Industrial Resin), and PLA (Polymerized Lactic Acid), reduces wastage, which will drivethe market growth of caps and closures globally
The caps and closures market is segmented on the basis of product type, raw material, application, and region. On the basis of product type, the market is segmented into easy-open can end, metal lug closures, peel-off foils, screw closures, metal crowns, and corks. Byraw material, the market is segmented into plastic, metal, and wood. On the basis ofapplication, the industry is classified intobeer, wine, bottled water, carbonated soft drinks, dairy product, and condiments & sauces. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Russia, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India,Japan,South Korea, Australia, Taiwan and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The players operating in the global caps and closures market have adopted various developmental strategies to expand their caps and closures market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Allstates Rubber & Tool Corp, Amcor Plc, AptarGroup, Inc., Ball Corporation, BERICAP GmbH & Co. KG, Berry Global, Inc, Crown Holdings, Inc., GCL Holdings S.C.A., JELINEK CORK GROUP, and M.A. SILVA USA, LLC.
The caps and closures market is mainly driven by the packaging industry. The main motto of the packaging industry is to provide food and beverages with extended shelf-life and the products that preserve flavor, texture, and taste for a long time. Moreover, the increasing demand for the packaging market is driving the caps and closures market towards global growth. The other factors that contribute to the growth of the market include the pharmaceuticals market, cosmetics, fast-moving consumer goods (FMCG), and others. However, the major restraint limiting the growth of the caps and closures market is the unstable price of raw materials such as high-density polyethylene (HDPE) and polypropylene (PP). Eco-friendly caps and closures, with the use of natural ingredients and recycling processes, are expected to provide ample of opportunities for this market to grow across the globe.
The heavy promotion of go-green projects and eco-friendly concepts by the governments of all countries provides opportunities for the caps and closures market. The plastic and other chemicals widely used in the process of manufacturing caps and closures affect the environment. The requirement of eco-friendly caps and closures, which use recycled and natural ingredients such as wood and paperboard, is expected to increase. Moreover, the use of eco-friendly material such as paperboard, wood, bamboo, PCR (Post Consumer Resin), PIR (Post Industrial Resin), and PLA (Polymerized Lactic Acid), reduces wastage, which will drivethe market growth of caps and closures globally
The caps and closures market is segmented on the basis of product type, raw material, application, and region. On the basis of product type, the market is segmented into easy-open can end, metal lug closures, peel-off foils, screw closures, metal crowns, and corks. Byraw material, the market is segmented into plastic, metal, and wood. On the basis ofapplication, the industry is classified intobeer, wine, bottled water, carbonated soft drinks, dairy product, and condiments & sauces. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Russia, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India,Japan,South Korea, Australia, Taiwan and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The players operating in the global caps and closures market have adopted various developmental strategies to expand their caps and closures market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Allstates Rubber & Tool Corp, Amcor Plc, AptarGroup, Inc., Ball Corporation, BERICAP GmbH & Co. KG, Berry Global, Inc, Crown Holdings, Inc., GCL Holdings S.C.A., JELINEK CORK GROUP, and M.A. SILVA USA, LLC.
KEY MARKET SEGMENTS
By Product Type
- Easy-open Can End
- Metal Lug Closures
- Peel-Off Foils
- Screw Closures
- Metal Crowns
- Corks
- Others
By Raw Material
- Plastic
- Metal
- Wood
- Others
By Application
- Beer
- Wine
- Bottled Water
- Carbonated Soft Drinks
- Dairy Product
- Condiments & Sauces
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
The prominent players operating in this market are:
- Allstates Rubber & Tool Corp
- Amcor Plc
- AptarGroup, Inc
- Ball Corporation
- BERICAP GmbH & Co KG
- Berry Global, Inc
- Crown Holdings, Inc
- GCL Holdings S.CA
- JELINEK CORK GROUP
- MA SILVA USA, LLC
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Caps and Closures Market, by Product Type
Chapter 5: Caps and Closures Market, by Raw Material
Chapter 6: Caps and Closures Market, by Application
Chapter 7: Caps and Closures Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Caps and Closures Market by Product Type, Raw Material, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031” the global caps and closures market size was valued at $46,151.7million in 2020, and is projected to reach $81,330.4 million by 2031, registering a CAGR of 4.9% from 2022 to 2031. In 2020, the screw closure segment accounted for approximately 23% of the global market in terms of value.Caps and closures are mainly used in the packaging industry to preserve and extend the shelf life of products. The caps and closures industry uses different types of materials to construct suitable product packaging, such as plastic, metal, rubber, and wood.
Plastic is one of the major driving factors of the caps and closures for food & beverages market. The demand for plastic caps and closures for food & beverages is increasing as they are an important part of packaging for containers such as canisters, bottles, cans, beverage carton, and tubes. Plastic is gradually replacing the traditional raw materials used in manufacturing of caps and closures such as tinplate and aluminum. With the growing competition and adoption of high-tech enlargements, plastics caps, and closures have become more important in the caps and closures market. The increase in popularity of plastic caps and closures for aseptic cartons, stand-up pouches, and gable top drive the plastic caps and closures for food and beverages market.
The governments of all countries heavily promote go-green projects and eco-friendly concepts. The plastics and other chemicals widely used in the process of manufacturing caps and closures affect the environment. An increase in the requirement of eco-friendly caps and closures which use recycled and natural ingredients such as wood and paper board is expected in the future. The use of eco-friendly material such as paper board, wood, bamboo, post consumer resin (PCR), post industrial resin (PIR) , and polymerized lactic acid(PLA) reduces wastage, which will provide caps & closures market opportunities for growth.
In terms of value, Asia-Pacific and LAMEA collectively contributed approximately half share of the global market in 2020. Developing countries, such as Brazil, India, and China display a huge growth potential for this market on account of high manufacturing of food & beverage products in these countries to cater the market demand.
The caps and closures market is segmented on the basis of product type, raw material, application, and region. On the basis of product type, the market is segmented into easy-open can end, metal lug closures, peel-off foils, screw closures, metal crowns, corks, and others. By raw material, the market is segmented into plastic, metal, wood, and others. On the basis of application, the industry are broadly classified into beer, wine, bottled water, carbonated soft drinks, dairy product, condiments & sauces, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Russia, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Taiwan and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key Findings Of The Study
- On the basis of caps and closures market analysis for region, Asia-Pacificaccounted for the largest revenue share of the global market, registering a significant CAGR from 2022 to 2031, followed by North America
- On the basis of caps and closures market trends in 2020, the plastic, raw material segment accounted for approximately 39% share, in terms of value, and is expected to grow at the highest CAGR of 51%
- North America is anticipated to grow at the highest CAGR of 61% from 2022 to 2031 in the caps and closures market forecast period
- In 2020, the U.S generated the highest revenue, accounting for approximately 22% share of the global caps and closures industry
- Middle East is anticipated to grow at a significant CAGR of 40% during the study period
- The players operating in the global caps and closures market have adopted various developmental strategies to expand their caps and closures market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Allstates Rubber & Tool Corp, Amcor Plc, AptarGroup, Inc., Ball Corporation, BERICAP GmbH & Co. KG, Berry Global, Inc, Crown Holdings, Inc., GCL Holdings S.C.A., JELINEK CORK GROUP, and MA SILVA USA, LLC
Companies Mentioned
- Allstates Rubber & Tool Corp
- Amcor Plc
- AptarGroup, Inc.
- Ball Corporation
- BERICAP GmbH & Co. KG
- Berry Global, Inc
- Crown Holdings, Inc.
- GCL Holdings S.C.A.
- JELINEK CORK GROUP
- M.A. SILVA USA, LLC.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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