Global Caps and Closures Market Growth 2023-2029

Global Caps and Closures Market Growth 2023-2029

The primary function of caps and closures is to keep the container closed and the contents contained for the specified shelf life. In addition, it provides a barrier to dirt, moisture, and oxygen and keeps the product secure from undesired premature openingCaps and closures are mainly used in the packaging industry to preserve products to extend their shelf life. Caps and closures industry uses different type of materials to construct suitable product packaging, such as plastics, metals, rubber, and paperboard among others.

LPI (LP Information)' newest research report, the “Caps and Closures Industry Forecast” looks at past sales and reviews total world Caps and Closures sales in 2022, providing a comprehensive analysis by region and market sector of projected Caps and Closures sales for 2023 through 2029. With Caps and Closures sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Caps and Closures industry.

This Insight Report provides a comprehensive analysis of the global Caps and Closures landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Caps and Closures portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Caps and Closures market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Caps and Closures and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Caps and Closures.

The global Caps and Closures market size is projected to grow from US$ 53100 million in 2022 to US$ 74250 million in 2029; it is expected to grow at a CAGR of 74250 from 2023 to 2029.

Global caps & closures industry is expected to grow over the forecast period on account of high demand from food & beverages and chemical industries. Caps & closures are used for preserving products and extending their life. Thus, global caps & closures market is expected to grow significantly. Increasing caps & closures application in home care products and cosmetics industries is further expected to augment global market growth. Increasing application in pharmaceutical industry is expected to further fuel the global caps & closures market growth. Increasing childcare products demand is expected to have a positive impact global caps & closures market. Plastics caps & closures are expected to grow at a faster rate than metal caps over the forecast period owing to its superior properties and low cost. Within metal caps, tin and aluminum are expected to witness significant growth. Extensive R&D in markets such as paper and rubber are further expected to augment global market growth in the next six years. Increasing concerns regarding biodegradability and carcinogenicity of plastics is expected to hinder the market growth over the forecast period. Stringent regulatory policies by agencies such as U.S. EPA, REACH and European Commission regarding plastics usage are expected to further pose challenges to the market growth.

This report presents a comprehensive overview, market shares, and growth opportunities of Caps and Closures market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Easy-Open Can Ends
Metal Lug Closures
Peel-Off Foils
Plastic Screw Closures
Metal Crowns
Metal Screw Closures
Corks
Others

Segmentation by application
Beer
Wine
Bottled Water
Carbonated Soft Drinks
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Global Closure Systems
Silgan Holdings
Reynolds Group Holdings
Crown Holdings
Berry Plastics Corporation
Berlin Packaging
Guala Closures Group
Manaksia

Key Questions Addressed in this Report

What is the 10-year outlook for the global Caps and Closures market?

What factors are driving Caps and Closures market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Caps and Closures market opportunities vary by end market size?

How does Caps and Closures break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.