CAPS AND CLOSURES MARKET ANALYSIS

Caps And Closures MarketSize and Trends

• Asia Pacific is the largest and estimated to be the fastest growing market due to increasing demand in end-use industries such as alcoholic beverages, beer, food & soft beverages, and pharmaceuticals due to their low production cost and ability to keep the beverages safe
• North America and Europe are also expected to grow due to increasing rate of beer consumption in the region, during the forecast period. Also, it is expected that the consumption of liquor will increase in forecast period. Pharmaceutical industry in these regions drives the demand for highly chemical resistance caps and closures for various uses within the industry
• High disposable incomes of the Middle East population drives consumerism. The consumption of electronics and consumer goods are increasing rapidly, driving the market growth of caps and closures. Decline in markets of Syria and Iran have been compensated by high growth rate in the GCC countries
• The Latin America market is witnessing robust growth in the caps and closures market, which is mainly driven by the increase in per capita income of middle class population. Significant reduction in cost, excellent performance, lightweight, and low operational costs are some of the benefits offered by caps and closures, which fuel the market demand

Caps and Closures Market Taxonomy

The global caps and closures market is segmented as follows:

On the basis of raw material;

• Plastic
• Polypropylene
• Polyethylene
• PVC
• Other Plastic Films
• Full Card Blister
• Metal
  • Aluminum
  • Stainless Steel
• Others

On the basis of end-use industry;

• Food
• Beverage
  • Non-Alcoholic Beverages
  • Alcoholic Beverage
• Healthcare
• Cosmetic & Toiletries
• Others End Uses

Metal as a raw material is mostly used in the pharmaceutical industry, for storage of liquor, and for certain high temperature applications. Plastics caps and closures are used in everyday items, such as food containers and cosmetics bottles, and for non-reacting chemicals storage.