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NEW YORK , May 18, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Caps & Closures Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Plastic, Metals, Others); By End-Use (Food, Beverage, Healthcare, Cosmetics & Toiletries, Others); By Type; By Region; Segment Forecast, 2022 - 2030" in its research database.
According to recent research study published by Polaris Market Research, the global caps & closures market share and trends is expected to register a CAGR of 5.4% growth and industry revenue is expected to increase from USD 65.25 billion in 2021 to reach USD 104.04 billion by 2030.
What are Caps & Closures? What is the valuation of the caps and closures market?
Caps and closures act as a closing system and keep the container sealed and expand the product's shelf life. It also prevents the products from getting exposed to dust particles, moisture, and oxygen. It is majorly used to seal and pack products such as bottles, jars, containers, cartons, and other packaging formats. Tight seals are necessary for food & beverage packaging and thus the packaging industry primarily uses caps and closures to seal and package applications and to increase shelf life. Growing production output across various end-use industries and better design of caps and closures are boosting the sales of caps & closures in the market.
Materials such as plastic, metal, rubber, and wood are used in the caps and closures sector to serve proper packaging. Caps & closures are also used in several other end-use industries, such as pharmaceutical, personal care & home care, and automotive. others. Furthermore, recyclability, production, and introduction of recyclable and sustainable caps and closures are some of the factors creating lucrative opportunities for key manufacturers in the market.
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Key Pointers Covered in this Research Report:
Top Manufacturers in the Global Market Are:
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Caps & Closures Market: Report Scope
AptarGroup Incorporated, RPC Group PLC, Amcor Limited Plc, Rexam PLC, Crown Holdings Incorporation, Berry Plastics Corporation, Silgan Holdings Inc., and Guala Closures Group.
By Raw Material, By Type, By End-Use, By Region
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Caps & Closures Market: Driving Factors
Growing awareness about the health consciousness, which is boosting the demand for dietary supplements, is expected to drive the demand for packaging products. The increasing demand for bottled water across the globe is another key factor fueling the growth of the caps & closures market. Bottled water is gaining huge popularity among the population and is among the fastest-growing beverage types. The continuously fluctuating lifestyles and rising per capita consumption are the essential factors propelling the growth of the bottled water industry.
Moreover, rising technological developments in packaging solutions are also anticipated to fuel the demand for caps and closures. In addition, increasing investments in the R&D activities for developing advanced products with qualities such as enhanced shelf life, reusability, better sealing capabilities, and leakage proof are further expected to foster market growth during the forecast period.
Caps & Closures Market: Segmentation
Geographic Overview: Caps & Closures Market
Based on geography, North America witnessed the largest market share in the global & market owing to the growing technological developments in packaging solutions and fluctuating lifestyle of the population. Factors such as the development of the food industry and rising demand for packed food are expected to contribute to market growth. Also, an increase in the consumption of alcoholic and non-alcoholic beverages in countries, such as the U.S. and Canada is supporting the growth of the market.
Furthermore, the Asia Pacific market is expected to account for the highest CAGR owing to rising disposable income and growing consumption of processed and packaged food and beverage items. In addition, the presence of highly populated countries, such as China and India is anticipated to boost the growth of the caps and closures market. India is one of the major countries having large consumer bases, which is likely to surge the demand for caps & closures in the industry.
Browse the Detail Report "Caps & Closures Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Plastic, Metals, Others); By End-Use (Food, Beverage, Healthcare, Cosmetics & Toiletries, Others); By Type; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/caps-closures-market
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Key Questions Resolved Through This Market Research Report Include:
Polaris Market Research has segmented the caps & closures market report on the basis of raw material, type, end-use, and region:
Caps & Closures Market: By Raw Material Outlook
Caps & Closures Market: By Type Outlook
Caps & Closures Market: By End-Use Outlook
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