Theglobal caps andclosures market is likely to experience remarkable growthover the assessment period. Much of the market’s expansion is attributed to thephenomenal rise in the popularity of the packaged beverages and food productsworldwide.
Most of thedemand for cap and closure in unit terms is meant for low-cost commodity typeslike metal crowns and plastic screw caps. The value growth of the global capsand closures market is projected to be stimulated by the rising utilization ofbetter closure solutions in various packaging for beauty care andpharmaceuticals. Value gains of the global caps and closures market highlylikely to fuelled by rising consumer preference for hassle-free yet highlysecured closures.
Pact GroupHoldings, Silgan Holdings, Closure Systems International, Plastics Corporation,Aptar Group, and Plastics Corporation are few of the renowned companies in theglobal caps and closures market.
A report onglobal caps and closures market has been prepared by Transparency MarketResearch (TMR), which predicts the market to register a growth rate of 5.2%CAGR during the assessment period, from 2015 to 2021. The global caps andclosures market is estimated to reach value worth US$ 51.57 bn through 2021.
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Growing Popularity of Packaged Foodand Beverage Products will Fuel North America Market
LatinAmerica, Asia Pacific, Middle East and Africa, Europe, and North Americacomprise the major regions in the global caps and closures market.
NorthAmerica his estimated to hold the position of one of the leading producers ofthe global caps and closures market during the period of assessment. Growingpopularity for beverages like packaged juices, alcoholic drinks, and energydrinks are likely to accelerate the growth of the market in the next few yearsto come. In addition to that, caps and closures also find increased use in thepharmaceutical industry, which is likely to offer copious expansion opportunityof the caps and closures market in NorthAmerica.
Augmenteduse of caps and closures in the pharmaceutical and beauty care products isprojected to offer growth opportunities to the market in the Europe region. Themarket is likely to experience growth in Latin American, driven by Brazil overthe period of review. Food and Beverage sector together with beauty care productswill spearhead the growth of the caps and closures market in the region.
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Strict Government Regulations inthe Pharmaceutical Industry to Accentuate Demand
Value andunit gains of the global caps and closures market in the pharmaceutical sectorare triggered by the constant increase in the output of the pharmaceuticalsector. Along with that, drug manufacturers need to comply with the rules andregulations related to seniors friendly, child friendly lay down by thegovernment. Security features are of utmost importance in the packaging ofvarious drugs. Growth of the global caps and closures market is aloes likely tobe supported by the augmented utilization high-end dispensing closures. Theseclosures facilitate in the delivery of topical, oral liquid and some selectedmedicines.
Increasedconsumption of alcoholic drinks such as beer has across the globe is triggeringdemand in the alcoholic beverage market, which in turn is necessitating the useof caps and closures to secure the content. Metal screw closures and metalcrowns for bottles are rapidly substituting corks that are found in the winebottles. Therefore, the global caps and closures market are likely to getconsiderable value gains from this segment over the review period.
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Furthermore,the non-alcoholic segment including products like carbonated soft drinks,bottled water are also likely to offer considerable growth opportunities forthe caps and closures market. Growing preference over bottled water overcarbonated drink is another trend that is projected to influence the market inthe forthcoming years.
On the flipside, the entry of flexible packaging solutions is likely to adversely affectthe expansion of the global caps and closures market over the assessmentperiod. Notwithstanding, the market is expected to gather momentum form theincreased investment in discovering new designs, materials, and technologies ofcaps and closures are likely to encourage growth of the market.
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