Westford, USA, July 31, 2023 (GLOBE NEWSWIRE) -- The global Plastic Caps and Closures market size is expected to reach USD 111.03 billion by 2030 and exhibit a CAGR of 5.5% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing aesthetic consciousness, increasing prevalence of obesity and overweight population, advancements in technology and treatment options, rising disposable incomes, expanding beauty and wellness industry, growing demand for non-invasive and minimally invasive procedures, the influence of social media and celebrity culture, improving safety and efficacy of Plastic Caps And Closures, rising focus on personal appearance and self-confidence, increasing awareness about the benefits of body contouring procedures is fueling the market's growth.
According to SkyQuest's latest global research of the Plastic Caps And Closures market, growing demand for non-surgical body contouring treatments, rise in combination therapies for enhanced results, increasing popularity of non-invasive fat reduction techniques, development of portable and home-use Plastic Caps And Closures, advancements in radiofrequency and ultrasound technologies, the emergence of cryolipolysis as a popular treatment modality, expanding market for Plastic Caps And Closures in emerging economies, integration of artificial intelligence and machine learning in body contouring technology, focus on personalized treatment plans and customization options, are the trends that aid in the market's growth.
Browse in-depth TOC on "Plastic Caps and Closures Market"
- Pages - 157
- Tables - 66
- Figures -75
Plastic caps and closures are the final components of the packaging process, used to seal and secure containers. They are typically made of plastic, but can also be made of metal or other materials. Plastic caps and closures are used in a variety of industries, including food and beverage, pharmaceutical, and cosmetic
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Prominent Players in Plastic Caps and Closures Market
- AptarGroup
- Berry Global Group
- Closure Systems International (CSI)
- RPC Group
- Silgan Holdings
- WestRock
- Amcor
- Guala Closures Group
- Huhtamaki
- Linpac Group
- Mold-Rite Plastics
- Nampak
- O.Berk
- Plastipak Holdings
- PreciPack
- RPC Brambles
- Silgan Containers
- Tetra Pak
- Uflex
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 68.58 Billion |
| 2030 Value Projection | 111.03 Billion |
| CAGR | 5.5% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Screw-On Caps Demand to Grow Substantially in the Forecast Period
Screw-On Caps dominated the global online market as they are widely used in various industries, including beverages, food, pharmaceuticals, and personal care. Their popularity is attributed to their simple and effective sealing mechanism, which provides a secure closure for bottles and containers.
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Beverage Industry is the Leading Application Segment
In terms of application, beverage industry are the leading segment as they offer convenience for beverage packaging, allowing for easy opening, resealing, and pouring. The user-friendly design of closures, such as screw-on caps, sports caps, and flip-top caps, enhances the overall beverage consumption experience for consumers.
Asia-Pacific is the leading Market Due to the Increasing Urbanization and Disposable Incomes
Region-wise, Asia-Pacific is one of the largest growing markets with increasing urbanization and disposable ncomes. As a result, there is a significant demand for packaged beverages, food products, and personal care items that utilize plastic caps and closures. The region's expanding middle-class consumer base and fast-paced lifestyles drive the demand for convenient and portable packaging solutions, contributing to the growth of the market.
A recent report thoroughly analyzes the major players operating within the Plastic Caps And Closures market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Plastic Caps and Closures.
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Key Developments in Plastic Caps and Closures Market
- In January 2023, Berry Global Group acquired RPC Group for $6.3 billion. This acquisition created a global leader in plastic packaging with a strong presence in both food and beverage and pharmaceutical packaging.
- In February 2023, Silgan Holdings acquired PreciPack for $1.1 billion. This acquisition gave Silgan a strong position in the pharmaceutical packaging market, as PreciPack is a leading provider of child-resistant closures.
Key Questions Answered in Plastic Caps and Closures Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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