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Category Intelligence on Caps and Closures covers the following
Functional and User-friendly Closures: As a result of growing consumer pressure, especially from mature markets, brands are switching to more user-friendly designs. Features, such as child resistance, are becoming regulatory requirements. These factors are expected to foster a multitude of innovations that offer many user-friendly functionalities, such as dosage measuring, dual-spout closures, etc
The report analyzes the value chain for plastic caps and metal caps individually. The manufacturing process of caps and closures are organized into tiers in the value chain. The proportional contribution to the overall value at each stage of the process is stated. The value chain also has a power shift at each level that has been described in the report. The key global suppliers involved in the value chain are also listed.
The caps and closures market is expected to grow at the rate of 4–4.5 percent by volume during 2022–2024, with plastic caps and closures driving the demand
In the next five years, beverages, especially bottled water, will drive the volume growth, whereas user-friendly and functional closures in personal and home care and pharma are likely to drive the value growth
Plastic caps contribute to 75 percent of the entire caps and closures market and drive the market with a CAGR of 4.5–5 percent during 2018–2023
The increasing demand across beverages, especially in the emerging markets, is the main caps and closures market growth driver
The bottled water segment is expected to drive volume growth in the near future, with a CAGR of 7–8 percent, during 2022–2024
The market share of metal closures is expected to decrease from 24 percent to 22 percent by 2020, as plastic closures replace metal in multiple segments across beverages, cosmetics, and pharma
Corks expected a decline of around 3 percent CAGR
Rubber stoppers are expected to witness a significant growth of 7–8 percent, with growing parenteral route administration in the pharma market
The value growth is expected to be driven by increasing demand for user-friendly closures, especially in the personal and home care segment
The APAC is the largest market for caps and closures and is likely to experience strong growth in the next five years, with growing beverages in the domestic market
The E.U. and North America are expected to grow at a CAGR of about 2.53 percent and 2–2.5 percent, respectively, driven by bottled water and beverage segments
APAC, with a market share of about 36 percent, is the fastest-growing market, with an estimated CAGR of about 5–6 percent over the next four years
–The growth is driven by a rapidly growing market for beverages, especially bottled water, beer, and other juices
–The market share is likely to surpass 40 percent by 2024
Africa and the Middle East are expected to witness a similar growth as that of Asia, due to the growing disposable income and penetration of beverages
–In Africa, demand for metal caps and closures is expected to grow at about 4.5–5 percent CAGR during 2018–2023, compared to the global growth of 2–2.5 percent CAGR
China accounts for over 15 percent of the global plastic caps and closure market –China would continue to grow at about 7–7.5 percent CAGR in the segment, owing to increasing domestic and export demand
–Exports from China have been growing at about 6–6.5 percent CAGR over the last three years
Volume growth in North America and the E.U. is considerably slow, owing to the slowing down of key end-use markets, like CSD and beer
–The bottled water market is growing at 7–8 percent CAGR, sustaining growth in the next five years
The downstream segments drive the demand for caps and closures, while other factors from the end-user drive innovations. The report details caps and closures market research information with global demand classified by the application of the caps and closures. The downstream demand outlook driven by different demand dynamics is described. Advancement in technology and an increase in the application and usage of the product also affect the demand for the products.
The balance of imports and exports in each region are wildly varied. Some regions remain the top importers of caps and closures while others are in decline. The fastest-growing importers are also listed in the report. The value of the imports and exports in each region is illustrated. The reasons for the changing status of the region are also analyzed and described.
Global Exports of Caps and Closures
Certain countries are the largest exporters of caps and closures and dominate the global market. This caps and closures market report illustrates the export market share of each country. It also details which countries each region exports to, with facts and figures pertaining to export volumes.
Global Imports of Caps and Closures
The market share of imports is illustrated country-wise. The countries from which each country imports alongside the import volumes are listed.
This section of the report analyses the market of each region individually. The regions that are studied are North America, EU, APAC, and LATAM. The report gives a detailed analysis of the regional market information, market maturity, takeaways, market demand by material, demand by the industry as well as the export and import data.
The report goes into in-depth analysis and studies globally and regionally. The developed regions and emerging regions are described separately. The report analyses the supplier and buyer dynamics in each market. The challenges and constraints are also described.
Industry Drivers and Constraints
This section of the report clearly lists the different factors that drive industry growth. The innovations and increasing applications of caps and closures that help the industry grow are described. Likewise, the factors that pose a challenge to and that constrain the industry are listed.
Key Industry Trends: Plastic Caps and Closures
The caps and closures market news and important trends are detailed. The innovative closure or cap is described and the details of how the market is likely to react to and apply the innovations are analyzed. Examples of how and where the new trends are applied are given.
Innovations in Personal and Cosmetics
The highly competitive and challenging world of personal care and cosmetic products is constantly innovating in response to customer expectations and competition. This has fostered advancements in the design as well as applications of caps and closures. In some cases, the very purpose of a cap/closure has been reinvented. The timelines of these innovations and their details have been explained and illustrated. Some of these innovations are in response to eco-friendliness and sustainability trends. Caps and closures include pumps that are integrated into the caps of some products. Some companies have innovated and created signature dispensing cap and closure solutions.
Key Industry Trends: Food and Beverage
The food and beverage industry is also very competitive and highly innovative. many of the new designs of closures and caps improve the customer experience, improve sustainability, are multipurpose, or fulfill the other demands based on application.
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