PUSH PULL CLOSURE MARKET ANALYSIS
Market Dynamics
The growth of push-pull closure market is driven by increasing consumer spending on products such as food & beverages, cosmetics & personal care, pharmaceutical, and household. For instance, as per Ministry of Food Processing Industries, India in 2017, the consumption of food and beverages in India was US$ 369 billion, which has increased and is expected to reach US$ 1.142 trillion by 2025. Therefore, push-pull closure market is expected to boost during the forecast period.
Furthermore, increased demand for small sports bottles due to its compactness is expected to fuel the push-pull closure market growth over the forecast period.
Market Outlook
Asia Pacific is expected to witness highest growth rate during the forecast period, owing to increasing disposable income and rising consumption of food and beverages. According to India Brand Equity Foundation (IBEF), India’s per capita GDP was US$ 1,942 in 2017, which is expected to reach US$ 3,273.85 by 2023.
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