Embedded Files
Caps & Closures are essential for packaging. Therefore, they not only include containers that help to extend shelf-life of the products; they also act as a barrier to dirt, moisture, and oxygen. Market Research Future (MRFR) has published a research report on the global plastic bottle closures market that assays increase for this market at 5.2% CAGR between 2017 and 2023. By value, the market has been figured to be worth the USD 65.12 bn by the end of the forecast period.
The vital factor extending the global Plastic Bottle Closures Market is the surging demand for bottled water and smaller packaging sizes from the end-user industries. Other factors forming the abutment for the market growth include rising concerns toward product quality as well as safety, technological improvements, increased consumption of processed foods & beverages, innovation in packaging, and replacement of metal closures with glass or plastic food containers. However, strict government regulations on packaging material waste can slow down market growth. Market growth can also be hindered by rules related to recycling and fluctuating raw material prices.
Market Segmentation
The global Plastic Bottle Closures Market segmentation cover end-users, material, and type. MRFR is exploring the features of these segments to understand market trends.
Regarding end-users, the segmentation of this market covers cosmetics, automotive, pharmaceutical, food & beverage, and others.
As per the material-based segmentation, the market has been segmented into metal, plastic resins, and others. The plastic resins have been sub-segmented into polypropylene (PP) & polyethylene (PE).
By type, the market is being segmented into caps, corks, stoppers, closures, and others.
Regional Segmentation
The regional segmentation of the global Plastic Bottle Closures Market covers Asia Pacific, Europe, North America, and the Rest of the World (RoW).
The Asia Pacific region has the largest share in the global market due to hygiene consciousness, use of closures on popular container types, and changing lifestyle. Other factors contributing to the market growth in this region include growing consumer goods manufacturing, presence of some key market players, growing packaging industry, a shift in preference from unpackaged to packaged food items, rise in purchasing power, growing demand for packaged products, and expanding production capacities. Major revenue contributors to the Asia Pacific market include India, China, and Japan. Other countries of this region also contribute significantly to the market revenue.
North America is the second largest regional market due to the surging entry of end-user industries in this region, especially in the USA. Other factors enhancing the market growth in this region are technological advancement, the presence of many key market players, and strict regulations set by the government regarding hygiene. After the USA, Canada is the most important country-specific market in this region.
Europe is emerging as the fastest growing regional market as it has a substantial share in the global market due to the high demand for the caps & closures technologies. Some of the vital market players are based in Europe as well. In Europe, the relevant country-specific markets are Germany, France, Italy, and the United Kingdom (UK). Other countries in Europe are increasing their contribution to market revenue.
Key Players
Major players in the global Plastic Bottle Closures Market include AptarGroup Inc. (USA), Amcor Limited (Australia), Berry Plastics Corporation (USA), BERICAP GmbH Co. & KG (Germany), Crown Holdings Inc. (USA), Guala Closures Group (Italy), RPC Group PLC (UK), Rexam PLC (UK), Reynolds Group Holdings Limited (New Zealand), and Silgan Holdings Inc. (USA).
Read More :
Google Sites
Report abuse