The global caps and closures market is likely to experience remarkable growth over the assessment period. Much of the market’s expansion is attributed to the phenomenal rise in the popularity of the packaged beverages and food products worldwide.
Most of the demand for cap and closure in unit terms is meant for low-cost commodity types like metal crowns and plastic screw caps. The value growth of the global caps and closures market is projected to be stimulated by the rising utilization of better closure solutions in various packaging for beauty care and pharmaceuticals. Value gains of the global caps and closures market highly likely to fuelled by rising consumer preference for hassle-free yet highly secured closures.
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Pact Group Holdings, Silgan Holdings, Closure Systems International, Plastics Corporation, Aptar Group, and Plastics Corporation are few of the renowned companies in the global caps and closures market.
A report on global caps and closures market has been prepared by Transparency Market Research (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 and closures market is estimated to reach value worth US$ 51.57 bn through 2021.
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Value and unit gains of the global caps and closures market in the pharmaceutical sector are triggered by the constant increase in the output of the pharmaceutical sector. Along with that, drug manufacturers need to comply with the rules and regulations related to seniors friendly, child friendly lay down by the government. Security features are of utmost importance in the packaging of various drugs. Growth of the global caps and closures market is aloes likely to be supported by the augmented utilization high-end dispensing closures. These closures facilitate in the delivery of topical, oral liquid and some selected medicines.
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The global caps and closures market is segmented based on:
Product
- Food Caps and Closures
- Beverages Caps and Closures
Application
- Alcoholic Beverages
- Non Alcoholic Beverages
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