Plastic Caps and Closures Market Research Report -Forecast 2027

Plastic Caps and Closures Market, By Type (Screw Caps, Dispensing Caps, and Closures), By Material (Polypropylene, Polyethylene and Polystyrene), By End-User (Food & beverages, Pharmaceutical and Personal Care), By Region – Forecast to 2027

ID: MRFR/PNT/3489-CR | July 2018 | Region: Global | 119 pages

Plastic Caps and Closures Market Overview


Plastic caps and closures market is projected to experience massive growth at a 5.22% CAGR during the assessment period (2018-2023).


Plastic caps and closures act as effective sealing devices of bottles and containers. Versatility, durability, and flexibility afforded by plastic coupled with its economical production rate make it a viable choice for packaging. The effectiveness against tampering of products acts in favor of caps and closures as a packaging method. As per a new and detailed report by Market Research Future (MRFR), the rise in convenience packaging is expected to augur the market growth till 2023. Various strides in packaging production methods can be a plus for the market as well.


Concerns regarding quality and safety in the food and beverage industry can act as a catalyst for the market. End-users of plastic caps such as pharmaceuticals, cosmetics, and toiletries offer vast opportunities. The mushrooming of ecommerce sites has resulted in a sharp rise in online shopping and will provide further impetus to the market. Rise in disposable income levels of consumers in developing economies can bolster market demand. But strict policies pertaining to the use of plastic materials can be a possible deterrent for market growth.


Report Overview


The report covers the latest trends in the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections. MRFR’s report includes a thorough analysis of the global plastic caps and closures marketsegmented on the basis of type, material, end-user, and region with astute insights.


Segment Overview


By type, the plastic caps and closures market is segmented into screw caps, dispensing caps, and closures. The screw caps segment is likely to capture a major share in the market by 2023 owing to its demand in various end-use industries.


Primary materials used in manufacture of caps and closures include polypropylene, polystyrene, and polyethylene. The polypropylene segment can perform exceptionally during the forecast period owing to the material possessing high impact resistance and ability to withstand high temperatures. Key end-users comprise personal care, pharmaceuticals, food & beverages, and others. The food & beverages segment is expected to accumulate significant revenue for the market owing to high consumption of carbonated beverages and ready-to-eat foods.


The segments and sub-segments covered in the report are analyzed under four major regions – Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA), with respective country-level market sizing. The benefits of the product “caps and closures” is included in the report for a comprehensive understanding of the market. The report discusses the various players involved in the supply and value chain to evaluate future opportunities within the market by delivering an unbiased growth assessment.


Players Covered


Prominent players outlined in the report include Amcor Limited (Australia), Silgan Holdings Inc. (U.S.), Global Closure Systems (France), Comar LLC (U.S.), AptarGroup (U.S.), Alcoa Corporation (U.S.), TriMas (U.S.), Phoenix Closures, Inc. (U.S.), J.L. CLARK (U.S.), Guala Closures Group (India), and others in the report. The trend of acquisitions and mergers in the market may portend a consolidation of companies in the coming years.


The report offers comprehensive profiles on these market players and assesses their current standing in the global plastic caps and closures market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.


Research Methodology


At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market and its various components. Use of primary research strategies such as interviews with top-level decision makers of various leading companies in the relevant market combined with secondary research provides a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the demand and supply-side. Credible resources are employed to help data analysts to understand nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameter in an effort to provide clients with a conclusive and dependable view of the future.


Analysis Period



  • Base Year - 2017

  • Projection Period - From 2018 to 2023

  • Market Denomination - USD Million

  • Conversion Rate - Considered as per the respective financial years


For the scope of research, the report offers a comprehensive analysis of the global plastic caps and closures market.


Type



  • Screw Caps

  • Dispensing Caps

  • Closures


Material



  • Polypropylene

  • Polyethylene

  • Polystyrene


End-user



  • Personal Care

  • Pharmaceutical

  • Food & Beverages

  • Others


Region



  • Americas

    • The U.S.

    • Canada





  • Europe

    • Germany

    • The U.K

    • France

    • Spain

    • Italy

    • Rest of Europe





  • Asia Pacific (APAC)

    • China

    • Japan

    • India

    • Rest of APAC





  • The Middle East and Africa (MEA)

    • The Middle East

    • Africa




Intended Audience



  • Distribution vendors

  • Research

  • End-Users

  • Government



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   5.22% CAGR(2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type , Material and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amcor Limited (Australia), Silgan Holdings Inc. (U.S.), Global Closure Systems (France), Comar LLC (U.S.), AptarGroup (U.S.), Alcoa Corporation (U.S.), TriMas (U.S.), Phoenix Closures, Inc. (U.S.), J.L. CLARK (U.S.), Guala Closures Group (India),
  Key Market Opportunities   Concerns regarding quality and safety in the food and beverage industry
  Key Market Drivers

  • Growing demand for food and beverage industry
  • Innovation in Packaging Industry


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    Frequently Asked Questions (FAQ) :


    The plastic caps and closures market is assessed to mark 5.22% CAGR.

    The eminent players are Amcor Limited (Australia), Silgan Holdings Inc. (U.S.), Global Closure Systems (France), Comar LLC (U.S.), AptarGroup (U.S.), Alcoa Corporation (U.S.), TriMas (U.S.), Phoenix Closures, Inc. (U.S.), J.L. CLARK (U.S.), and Guala Closures Group (India).

    The plastic caps and closures market is assessed to be valued at USD 61.71 Bn.

    By material, the segments are polyethylene, polypropylene, and polystyrene.

    The segments of plastic caps and closures market, by type, are dispensing caps, screw caps, and closures.

    The end-user segments of plastic caps and closures market are food and beverages, personal care, pharmaceutical, and others.

    The food & beverage segment is projected to dominate the plastic caps and closures market.

    Plastic Caps and Closures Market – Summary


    The global market for plastic caps and closures is mushrooming in size owing to a considerable demand purveyed by the food and beverage industry during the forecast period (2018-2023), asserts Market Research Future (MRFR) in an exhaustive study. Imbibing the latest technologies in the manufacturing process, the industry is now eyeing for a leap that would make it appropriate to meet the market demands fair and square.


    Rapid industrialization and urbanization have led to transference in the patterns of consumer behavior as they now prefer packaged foods and beverages. The changing lifestyles of consumers and well as their inclination towards ready-to-eat foods has been a plus for the market. This has resulted in a burgeoning food and beverage industry which has now increased its production of processed offerings sparking further the demand for plastic caps and closures. The sector is keener to utilize plastic caps and closures as it shows remarkable ability to preserve flavor, nutrition, and texture of the end-product. Furthermore, its applications are widespread, transport-friendly, and incur a lower cost.


    Manufacturers are also investing heavily in research and development to deliver products of superior quality. The focus is mainly on slashing the production cost but never compromising on the quality which has marshaled to better sealing capabilities, extended shelf life, leakage proof usage, and reusability. These features are gaining a lot of traction and helping the product garner accolades from all quarters.


    However, the market has a few deterrents such as the availability and price of the raw materials along with stringent government regulations. The market may experience a few bottlenecks but not stagnancy which is undoubtedly a positive sign.


    Segmentation:


    The global market for plastic caps and closures can be segmented by material, type, and end-user.


    Material-wise, the market relies on polypropylene, polyethylene, and polystyrene. Polypropylene is currently spearheading the pack with 49.4% market share and is expected to witness the fastest CAGR during the forecast period.   


    Type-based segmentation comprises screw caps, dispensing caps, and closures. Screw caps are currently the market leaders with 42.1% of the entire share and all set to enjoy a favorable tailwind during the review period.


    Based on end-users, the market consists of food and beverages, pharmaceutical, personal care, and others. Food and beverage are now dominating the market and expected to steer the market ahead in the foreseeable period. However, the pharmaceutical segment is also showing significant promises.


    Regional Analysis:


    Geographically the market covers the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).


    The Americas had dominated the market by generating almost 30.6% of the global revenue in 2017. The fast-tracked life in the U.S. has spurred the growth of food and beverage industry owing to which the plastic caps and closures market is gaining momentum. Also, the rising ecological concern is forcing the manufacturers to inflate their research & development expenditure.


    Europe plays a significant role as sectors such as personal care, hygiene and beauty products and packaging are driving the many innovations that the market is now implementing. Healthcare & pharmaceutical sectors are fueling the same market by showing an increasing demand for the caps and closures. The U.K. has the largest market as it has expanding customer base and supportive regulations.


    The APAC region is accelerating at a steady pace as the market is taking a firm grip over the global export industry. FDI in retail is also luring in a huge number of international players. China and India are also giving signs of increasing disposable income which spurs the growth of the food and beverage sector. These sectors are widening the business ambit for plastic caps and closures. Thus, making the APAC a significant market player.


    Market Dashboard:


    Countries such as Brazil, Indonesia, and India are experiencing some changing dynamics owing to varying preferences, a growing number of working women population and substantial foreign investment in retail outlets. These have caused a spurring growth in the food & beverage sector which primarily affects the plastic caps and closures market positively.


    Amcor Limited, Silgan Holdings Inc., Global Closure Systems, Comar LLC, Aptar Group, Reynolds Group Holdings, TriMas, Phoenix Closures, Inc., J.L. CLARK, Guala Closures Group, and others are some of the key companies operating in the global plastic caps and closures market.

    Global plastic caps and closures Market: Competitive Landscape


    The global plastic caps and closures market is characterized by the presence of many global, regional, and local players. The market is highly competitive with all the players competing to gain market share. Intense competition, and increasing demand for various grades of products are key factors that confront market growth. The vendors compete based on cost, product quality, and reliability. It is crucial for the vendors to provide cost-efficient and high-quality caps and closures to survive and succeed in an intensely competitive market environment.


    Amcor Limited is an Australia-based multinational packaging company with headquarters in Hawthorn, Victoria (a suburb of Melbourne). Amcor creates packaging solutions using flexible and rigid plastics packaging. Amcor products protect food, beverage, pharmaceutical, medical, personal, home, and personal care goods. The company has adopted expansion by way of mergers and acquisitions, key strategies.


    Silgan Holdings Inc. offers rigid packaging for shelf-stable food and other consumer goods. The company operates through three broad business segments, namely metal containers, closures, and plastic containers. The metal container segment is engaged in the manufacture and sale of steel and aluminum containers that are used by processors and packaging companies for food products, vegetables, fruits, meat, seafood, coffee, nutritional drinks, pet food, and other food products, and general line metal containers, primarily for chemicals. The company intends to continue to increase their market share in its product line through internal growth and acquisition. It uses a disciplined approach to make acquisitions that generate attractive cash returns. As a result, it expects to continue to expand and diversify the customer base, geographic presence, and product lines.


    TriMas is a diversified manufacturer of engineered products. It offers a variety of products to the commercial, consumer, aerospace, petrochemical, refinery, industrial and oil & gas end markets, worldwide. The company’s packaging segment manufactures specialty application, dispensing and closure applications for beauty and home care, industrial markets, health and food & beverage. The company offers products and services such as transportation, and storage facility. TriMas operates under high standards of health, safety, and environment. The company follows a strong disciplined approach and while looking at strategic acquisitions to build on core competencies. The company has adopted integration by acquiring its industry participants or contiguous product line that will increase the number of their product offerings, gain them new customers, distribution channels, and increased footprints.


    Phoenix Closures is one of the leading manufacturers in specializing injection-molded closures. The company is headquartered in Naperville, where its first plant was set up in the year 1890. The second plant in Davenport, of eastern Iowa and western Illinois, was incorporated in the year 2000. The third plant was set up in October, 2005 at Newport, Tennessee. The company established its distribution channel in Ontario, California to improve its customer service in the western half of the country. The company opened another plant in July, 2012 in Greencastle, Indiana. This has helped the company gain efficiencies for their stock closures. The company is focusing on business developments through sustained growth by offering its wide ranges of product and achieve higher growth and marginal profile. The company focuses on organic growth to compete in the environment. The company continues to focus on improvement in the performance of the operation.



    1. L. Clark is a leader in packaging design and manufactures specialty metal and plastic packaging products. The company is the part of CC Industries, Inc. and operates under the group. The company has a workforce of around 350 employees and an annual revenue of USD 77 million. The company invests in the latest technology so that it can provide innovative solutions to its customer. Recently, the company added a new 6-colour printing press electric injection molding presses, state-of-the-art vision systems, improved rapid prototyping, and high-speed fabrication machines to improve productivity. The company offers plastic packaging containers, flat sheet decorating products, decorative tin containers, and aluminum packaging containers to customers. J. L. Clark looks at the implementation of the latest technology in machines, as key strategy, to offer innovative solutions to consumers. Intensive product research and technical innovation has resulted in the development of environmentally sustainable business. The company is continuously working on its strategy of innovation in the areas of such as plastic packaging, decorated flat sheet and package development so that it can gain the customers loyalty.