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Increasing use in the packaging of beverages is anticipated to drive the expansion of the plastic caps and closures market in the forthcoming years. The rising sales of beverages owing to the increasing purchasing power are projected to lead the growth of the market in the foreseeable future. Also, the inclination towards the recycling of plastic waste is expected to impact the plastic caps and closures market greatly in the forthcoming years.
Segmentation:
Based on type, the segments of the plastic caps and closures market are dispensing caps, screw caps, and closures.
On the basis of material, the segments of the plastic caps and closures market are polyethylene, polypropylene, and polystyrene.
The end-user segments of the plastic caps and closures market are pharmaceutical, food & beverages, and personal care.
Regional Analysis:
The global plastic caps and closures market has been studied on the basis of regions. The regional segments identified are - Americas, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA). Americas dominated the market in 2017 and is poised to maintain its holding of the maximum market share over the next few years. Increasing demand for convenience food and beverages in the region is projected to lead the expansion of the plastic caps and closures market in the region. In addition, the increasing developments in recycling technologies are also poised to have a positive impact on the growth pattern of the regional market. Asia Pacific is anticipated to mark a steady CAGR during the review period. Increasing purchasing power is likely to motivate the growth of the plastic caps and closures market in the region by boosting sales in the end-user industries.
Competitive Dashboard:
Amcor Limited (Australia), Global Closure Systems (France), Silgan Holdings Inc. (U.S.), Comar LLC (U.S.), Alcoa Corporation (U.S.), AptarGroup (U.S.), TriMas (U.S.), J.L. CLARK (U.S.), Phoenix Closures, Inc. (U.S.), and Guala Closures Group (India)
Industry News:
In October 2019, Coca-Cola, a food & beverage company, has made the first-ever plastic bottle from the recycled pecan waste.
In October 2019, Ambev SA, a Brazilian beverage firm, has announced that it will launch its first canned water in plastic containers.
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