Sports Analytics Market 2021 – 2026: Outlook, Industry Size, Share, Market Dynamics Demand, Market Challenges, Manufacturers and Forecast Research

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“Plastic Caps & Closures Market” is the process of conveying a good quality service to customers. focuses on identifying hidden needs or requirements of customers. Report defines the scope of the Plastic Caps & Closures market, identifying potential of the Plastic Caps & Closures markets and determining optimal pricing for the market, it encouraging potential customers to purchase, and finding the best distribution methods for delivering to customers.

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Market Overview:

  • The global plastic caps & closures market was valued at USD 2157.71 billion in 2018 and is expected to reach a value of USD 2993.80 billion by 2024 at a CAGR of 5.62%, over the forecast period (2019-2024).
  • – Plastic caps & closures serve a stretch of industries segment such as food & beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps & closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.
  • – Caps & closures use PET, PP, and PE as the primary raw materials for manufacturing. Industries rely heavily on the plastic caps & closures as they provide a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate and as an impact of this, the caps & closures market is also expected to record an increase in demand in the forecast period.
  • – However, this industry is comprehensively dependent on the suppliers of raw materials for manufacturing. PET and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the cost of production is dependent on this raw material, manufacturers find it difficult to maintain constant output.

    Key Market Trends:

    Polyethylene Terephthalate to Account for a Significant Demand for Plastic Caps

    – Polyethylene terephthalate (PET) is commonly used in food packaging due to its strong barrier properties against water vapor, dilute acids, gases, oils, and alcohols. PET is also shatter-resistant, slightly flexible and easy to recycle. Owing to several companies investing heavily in R&D to come up with unique and cost-effective products, the market is witnessing a large number of innovations. Dow Industries has come up with a new range of PET resins portfolio for manufacturing of caps & closures.
    – Moreover, with the advent of plastic PET bottles for beer packaging, plastic is gaining acceptance in alcohol and beer packaging as well. Breweries in Britain, Australia, and Switzerland have been marketing beer in PET bottles. This is due to the use of various barrier systems such as silicon oxides combined with PET, that provides better potential for stronger penetration of this massive market.
    – PET bottles are one of the major packaging material used globally. According to Plastics, shows a significant increase in demand for plastic over the years for PET bottles as PET is a preferred choice of increasing demand for plastic converters.

    North America to Occupy Major Share

    – The food industry is one of the major contributors to the caps and closures market in the region. Majority of the manufactured food products are packaged in PET containers, which are covered with metal lids and other plastic enclosures, to protect them from contamination.
    – Food products stored in bottles are being protected through various kinds of airtight plastic closures. Metal caps or closures are also used for the storage of food products, such as grains, typically stored in glass containers. The United States in the second largest food market across the globe and its expected to account for a considerably high share of the caps & closures market catering to in food industry end-user segment.
    – In the United States and Canada, retail shelf packaging is growing popular, owing to the changing lifestyles of the people. This faster pace of lifestyle is expected to further fuel the growth of sales through retail channels.
    – This trend is further bolstered by the growing millennial population in the workforce. Millennial population in the United States is found to work across flexible work hours, which further bolsters the demand for on-the-go foods, which is expected to drive the market for caps and closure (owing to increase in packaged food).

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    Major Key Players are as Follows

  • Albea Group
  • Amcor Ltd
  • Aptar Group Inc.
  • Ball Corporation
  • BERICAP GmbH & Co. KG
  • Berry Global, Inc
  • Crown Holdings Inc.
  • Evergreen Packaging Inc.
  • Global Closure Systems
  • Guala Closures Group
  • Pact Group
  • Silgan Holdings Inc.
  • Tetra Laval International

    Scope of the Report:

  • Plastics are mainly used for the closures of the plastic bottles. Closures are devices and techniques used to close or seal container such as a bottle, jug, jar, tube, can, etc. Closures can be a cap, cover, lid, plug, etc. Plastic bottle’s caps are usually made from different kinds of plastics. These caps may or may not have pour spouts.

    Geographical Regions:

    .

    Topics such as sales and sales revenue overview, production market share by product type, capacity and production overview, import, export, and consumption are covered under the development trend section of the Plastic Caps & Closures market report.

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    Reasons to Purchase Plastic Caps & Closures Market Report Covered:

    • The report examines how Plastic Caps & Closures market will develop in the future.
    • Studying various views of the Plastic Caps & Closures market with the help of Porter’s five forces analysis.
    • Analyzing the product type that is probable to control the market and regions that are likely to witness the fastest development during the forecast period
    • Identify the new developments, Plastic Caps & Closures market shares and strategies employed by the key market players.
    • Competitive landscape including the market share of major players along with the key strategies accepted for growth in the past five years
    • Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Plastic Caps & Closures market players

    Detailed TOC of Plastic Caps & Closures Market – Growth, Trends, and Forecast (2019 – 2024)

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Product Innovation to Aid Product Differentiation and Branding
    4.3.2 Rising Demand for Smaller Sized Packs
    4.3.3 Increasing Demand from Small and Medium Scale End-user Industries
    4.4 Market Restraints
    4.4.1 Regulations Putting the Onus of Environmental Degradation on Manufacturers and Charging Taxes
    4.4.2 Availability of Substitute Products
    4.5 Value Chain / Supply Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Application
    5.1.1 Food
    5.1.2 Pharmaceutical
    5.1.3 Beverage
    5.1.4 Cosmetics & Toiletries
    5.1.5 Other Applications
    5.2 By Raw Material
    5.2.1 PET
    5.2.2 PP
    5.2.3 HDPE
    5.2.4 LDPE
    5.2.5 Other Raw Materials
    5.3 Geography
    5.3.1 North America
    5.3.2
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Albea Group
    6.1.2 Amcor Ltd
    6.1.3 Aptar Group Inc.
    6.1.4 Ball Corporation
    6.1.5 BERICAP GmbH & Co. KG
    6.1.6 Berry Global, Inc
    6.1.7 Crown Holdings Inc.
    6.1.8 Evergreen Packaging Inc.
    6.1.9 Global Closure Systems
    6.1.10 Guala Closures Group
    6.1.11 Pact Group
    6.1.12 Silgan Holdings Inc.
    6.1.13 Tetra Laval International

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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