Dublin, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The "Caps And Closures Market Size, Share & Trends Analysis Report by Product (Dispensing Caps, Screw, Crown), by Material (Plastic, Metal), by Application (Food, Cosmetics & Toiletries), by Region and Segment Forecasts, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global caps and closures market size is expected to surpass USD 143,699.6 million by 2030., expanding at a CAGR of 5.0% over the forecast period. The market is projected to be driven by the growth in the food & beverage industry across the globe, contributing to an increased usage of packaging products.
Rising counterfeiting activities in the alcoholic beverages market are likely to boost demand for anti-tamper or tamper-evident closure. For instance, Everledger launched a new line of anti-tamper closures for wine and spirit bottles in April 2020, wherein the bottle cap is provided with Near Field Communication (NFC)-powered tamper detection label. The label, in turn, will allow the beverage manufacturer to track the bottle during shipping. This is anticipated to fuel the need for tamper-evident bottle closures of alcoholic beverages.
Peanut butter, jellies, ketchup and other spreadable & condiments are widely used in households and foodservice restaurants in countries, such as the U.S and Canada. As per YouGov America's survey result published in August 2019, about 66% of the surveyed individuals 'really like' or 'somewhat like' the peanut butter & jelly sandwich. This, in turn, is expected to boost demand for dispensing caps & screw closures used for sealing containers of various spreadable items.
Closures play an important part in protecting canned food from moisture and dust particles. As per data released by the U.S. Department of Agriculture, about 31.4 pounds of tomatoes were available per person for consumption, after adjusting for losses, in the U.S. in 2019, of which 60% were available in canned form. Consumer preference for canned foods due to their multiple benefits is anticipated to augment demand for can metal ends.
The screw closures segment accounted for the second-highest share of 29.1% in 2020. Screw caps are used for closing containers of liquid products, such as beverages, edible oils, syrups and motor oil. As per the Department of Food and Public Distribution, Government of India, the net availability of edible oils from all domestic sources was 8,630 thousand tons in 2015-16, which increased to an estimated volume of 10,655 thousand tons in 2019-20 in India. Therefore, the increasing demand for liquid product packaging solutions is expected to drive the segment growth.
The cosmetics & toiletries application segment held a significant market share and is expected to register the fastest CAGR from 2021 to 2030. Cosmetic usage is increasing worldwide, which is expected to propel the demand for cosmetic packaging products. Players are focusing on developing new closures designs that are convenient to open and close as well as offer excellent seals. For instance, Berry Global Inc. introduced PalmSoft child-resistant closure for beauty and personal care products in 2018. This closure provides soft rubber feel at the top with an enhanced grip for patients with arthritis and other individuals facing difficulty in opening the bottle.
Players are focusing on making plastic closure sustainable by using recycled packaging materials. For instance, in September 2020, Coca-Cola North America introduced caps made from recycled High-Density Polyethylene (HDPE) plastic for DASANI bottles. Similarly, 20-oz., half-liter and 1-liter PET bottles of Reyes Coca-Cola have re-sealable closures that are derived from 30% recycled content.
Caps And Closures Market Report Highlights
- The metal segment is projected to grow at a CAGR of 4.8% from 2021 to 2030 due to rising usage of metals on account of higher durability and sustainability than plastic
- As per CAN manufactures Institutes' 2019-20 Annual Report, total metal cans shipped from the U.S. were 125,123 million in 2018 that increased to 127,042 million in 2019 that are used for various food and beverage products
- Furthermore, the COVID-19 pandemic is expected to increase the demand for energy-boosting drinks, protein shakes and dietary supplements that promote health and improve the immune system
- This, in turn, is expected to fuel demand for food-grade packaging solutions including caps & closures in the near future
- Companies in the caps & closures industry are adopting various strategies, such as capacity expansion and strengthening market presence through mergers & acquisitions
- For instance, in June 2020, Silgan acquired Albea Group's 10 manufacturing facilities under its dispensing operations. This acquisition is expected to aid Silgan to expand its closures franchise along with dispensing systems operations
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook: Packaging Market
3.1.2 Related/Ancillary Market Outlook: The Food Packaging Market
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.1.1 MaJor Raw Material Analysis
3.3.1.2 Manufacturing Trends
3.4 Technology Overview
3.4.1 Technology Timeline
3.5 Regulatory Framework
3.5.1 Food and Drug Administration
3.5.1.1 CGMP, CPSC and USP Requirements on Containers and Closures
3.5.1.2 General Considerations
3.5.2 The Therapeutic Goods Administration
3.5.2.1 Requirements for tamper-evident packaging
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Rising Consumption of Non - Alcoholic Beverages
3.6.1.2 Growing Demand from Expansive Asia Pacific Consumer Markets
3.6.2 Market Restraints
3.6.2.1 Limited Recycling of Caps & Closures
3.6.3 Market Challenges
3.6.3.1 Senior-friendly/Child-resistant Closures for the Healthcare Industry
3.7 Business Environment Analysis: Caps & Closures Market
3.7.1 Industry Analysis: Porter's
3.7.2 Pestel Analysis
3.7.3 Major Deals & Strategic Alliances
Chapter 4 Caps & Closures Market: Material Estimates & Trend Analysis
4.1 Definition & Scope
4.2 Material movement & market share analysis, 2020 & 2030
4.3 Plastic
4.3.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
4.4 Metal
4.4.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
4.5 Others
4.5.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5 Caps & Closures Market: Product Estimates & Trend Analysis
5.1 Definition & Scope
5.2 Market share analysis, 2020 & 2030
5.3 Dispensing Caps
5.3.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
5.4 Screw Closures
5.4.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
5.5 Crown Closures
5.5.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
5.6 Aerosol Closures
5.6.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
5.7 Others
5.7.1 Market Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6 Caps & Closures Market: Application Estimates & Trend Analysis
6.1 Definition & Scope
6.2 Market share analysis, 2020 & 2030
6.3 Food
6.3.1 Market Estimates and Forecasts, By Food Application, 2017 - 2030 (USD Million)
6.4 Beverages
6.4.1 Market Estimates and Forecasts, By Beverages Application, 2017 - 2030 (USD Million)
6.4.2 Functional Beverages
6.4.2.1 Market Estimates and Forecasts, By Functional Beverages Application, 2017 - 2030 (USD Million)
6.4.2.1.1 CBD Beverages
6.4.2.1.1.1 Market Estimates and Forecasts, By Cbd Beverages Application 2017 - 2030 (USD Million)
6.5 Healthcare
6.5.1 Market Estimates and Forecasts, By Healthcare Application, 2017 - 2030 (USD Million)
6.6 Cosmetics & Toiletries
6.6.1 Market Estimates and Forecasts, By Cosmetics & Toiletries Application, 2017 - 2030 (USD Million)
6.7 Automotive
6.7.1 Market Estimates and Forecasts, By Automotive Application, 2017 - 2030 (USD Million)
6.8 Pharmaceutical
6.8.1 Market Estimates and Forecasts, By Pharmaceutical Application, 2017 - 2030 (USD Million)
6.8.2 Dietary Supplements
6.8.2.1 Market Estimates and Forecasts, By Dietary Supplements Application, 2017 - 2030 (USD Million)
6.9 Others
6.9.1 Market Estimates and Forecasts, By Others Application, 2017 - 2030 (USD Million)
Chapter 7 Caps & Closures Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Analysis
8.1 Key Players, Recent Developments, and Their Impact on the Industry
8.2 Participant Categorization
8.3 Vendor Landscape
8.3.1 List Of Key Distributors & Channel Partners
8.4 Public Companies
8.4.1 Company Market Position Analysis
8.4.2 Key Company Market Ranking Analysis, 2020
8.4.3 Competitive Dashboard Analysis
8.4.3.1 Market Differentiators
8.4.4 SWOT
8.4.4.1 Berry Global, Inc.
8.4.4.2 Amcor plc
8.4.4.3 Crown
8.4.4.4 Silgan Holdings Inc.
8.4.4.5 AptarGroup, Inc.
8.4.4.6 Ball Corporation
8.4.4.7 Sonoco Product Company
8.4.4.8 Nippon Closures Co., Ltd.
8.5 Private Companies
8.5.1 List of Key Emerging Companies/Technology Disruptors/Innovators
8.5.2 Company Market Position Analysis
8.5.3 Geographical Presence
Chapter 9 Company Profiles
9.1 Crown
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Amcor plc
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 Closure Systems International
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 Ball Corp.
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 Silgan Holdings Inc.
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 Berry Global, Inc.
9.6.1 Company Overview
9.6.2 Financial Performance
9.6.3 Product benchmarking
9.6.4 Strategic Initiatives
9.7 AptarGroup, Inc.
9.7.1 Company Overview
9.7.2 Financial Performance
9.7.3 Product benchmarking
9.7.4 Strategic Initiatives
9.8 BERICAP
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 Nippon Closures Co., Ltd.
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.10 Sonoco Products Company
9.10.1 Company Overview
9.10.2 Financial Performance
9.10.3 Product benchmarking
9.10.4 Strategic Initiatives
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