May 30, 2022   SOURCE: BusinessWire

Insights on the Plastic Caps & Closures Global Market to 2027 - Featuring Amcor, Portola Packaging and Crown Holdings Among Others - ResearchAndMarkets.com

The "Global Plastic Caps & Closures Market, By Type, Polypropylene, High-Density Polyethylene, Low-Density Polyethylene, Others), Application & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global plastic caps & closures market was valued at USD 63,558.67 Million in 2021, and it is expected to reach a value of USD 86,349.50 Million by 2027, at a CAGR of more than 5.24% over the forecast period (2022 - 2027).

An increase in demand for bottled water, the need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are driving the market for plastic caps & closures.

The rising popularity of dispensing closures and pump closures in various product groups such as body care, skincare, beverages, and liquid food products is likely to spur the growth of the plastic caps & closures market, globally. The health and wellness trend is now shifting toward preventive healthcare, propelling the demand for FMCG products that target improved lifestyles. Plastic caps & closures that prevent contamination, tampering, and counterfeiting are becoming increasingly important to reassure consumers about the safety and authenticity of the products that they are buying.

Developing countries such as China, India, and Brazil are poised to witness high demand for plastic caps & closures in the next few years. The growth is driven mainly by favorable demographics and a rise in household incomes. Convenience and hygiene are becoming highly valued attributes as packaged food products take up a growing share of the consumer's expenditure due to changing lifestyles. Other emerging economies, such as Mexico, Turkey, South Africa, and Indonesia, are promising markets for plastic caps & closures owing to the growth of the FMCG sector in these countries. Cap manufacturers are adopting aggressive growth strategies in these countries by diversifying their product offerings and strengthening their distribution base.

The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.

Aspects covered in this report

  • Based on type, this market is segmented into Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Others
  • Based on application, this market is segmented into Food & Beverages, Pharmaceuticals, Cosmetics & Household, Others
  • Based on region, this market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).

Companies Mentioned

  • Amcor
  • Reynold Group
  • Aptar Group
  • Portola Packaging
  • Berry Plastics
  • Crown Holdings
  • Bericap
  • William Beckett Plastic (Mocap)
  • Mold Rite Plastics (Clearlake Capital Group)
  • Silgan Plastics
  • Westrock Mwv, LLC

For more information about this report visit https://www.researchandmarkets.com/r/4ip9j2