Rising Demand from End-Use Industries dominating caps & closures market.
The "Caps & Closures Market" is expected to witness high growth as a result of the growing end-use industry such as beverage and healthcare as well as the rising concerns toward product quality and safety. Caps & closures seal the content within the container and allows appropriate dispense of the contents.
The segmentation for this report is based on raw material, type, end-use industry, and region. Plastic caps & closures are projected to form the fastest-growing type in the caps & closures market as it is light weighted, cost effective, and can be used to package various types of products belonging to different industries
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Plastic resin such as polypropylene (PP) and polyethylene (PE) are widely used with PP expected to be the fastest-growing subsegment. The other types of raw materials that are used for manufacturing caps & closures include wood, glass, paperboard, and rubber & elastomer.
Target Audience:
• Raw material suppliers
• Packaging manufacturer
• End users
• Consulting firms
Market By End-use Industry:
• Beverage industry (alcoholic and non-alcoholic beverages)
• Healthcare industry
• Food industry
• Cosmetics & toiletries
• Others
Market By Region:
• North America
• Europe
• Asia-Pacific
• RoW
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Caps & closures are used in various industries and their utility across industries includes maintaining the quality of the products, increasing the shelf life of the commodity, and keeping the products fresh. These are some of the main reasons which have led to the increase in its share in the packaging industry.
The caps & closures market size is estimated to grow from USD 49.78 Billion in 2015 to USD 68.71 Billion by 2021, at a CAGR of 5.62%. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021.
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The global market for caps & closures is dominated by players such as RPC Group PLC (U.K.), Crown Holdings Incorporation (U.S.), Amcor Limited Plc (Australia), Rexam PLC (U.K.), Berry Plastics Corporation (U.S.), Silgan Holdings Inc. (U.S.), AptarGroup Incorporated (U.S.), and Guala Closures Group (Italy).
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