Global Plugs and Closures Market Overview to 2030 – By Product, Material, Application & Region – ResearchAndMarkets.com

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DUBLIN – (COMMERCIAL THREAD) – The “Caps and Closures Market Size, Share and Trend Analysis Report by Product (Dispensing Plugs, Screws, Crown), by Material (Plastic, Metal), by Application (Foods Cosmetics & Toiletries), by Region and Segment Forecast, the 2021-2030 report has been added to ResearchAndMarkets.com offer.

The global caps and closures market size is expected to exceed USD 143,699.6 million by 2030, growing at a CAGR of 5.0% during the forecast period. The market is expected to be driven by the growth of the food industry across the world, contributing to increased use of packaging products.

The increase in counterfeit activity in the alcoholic beverage market is expected to stimulate demand for tamper-evident or tamper-evident closures. For example, Everledger launched a new line of burglar-resistant closures for wine and spirits bottles in April 2020, in which the bottle cap features a burglary detection label powered by Near Field Communication ( NFC). The label, in turn, will allow the beverage maker to track the bottle during shipping. This should fuel the need for tamper-proof closures on alcoholic beverage bottles.

Peanut butter, jellies, ketchup, and other spreads and condiments are widely used in households and food service restaurants in countries such as the United States and Canada. According to YouGov America’s survey results released in August 2019, around 66% of respondents “really like” or “like a little” the peanut butter and jelly sandwich. This, in turn, is expected to drive demand for dispensing caps and screw closures used to seal containers of various spreads.

Closures play an important role in protecting canned foods from moisture and dust particles. According to data released by the United States Department of Agriculture, approximately 31.4 pounds of tomatoes were available per person for consumption, after adjusting for losses, in the United States in 2019, of which 60% were available in canned form. . Consumer preference for canned foods due to their multiple benefits is expected to increase the demand for metal tips.

The screw cap segment accounted for the second highest share of 29.1% in 2020. Screw caps are used to seal the containers of liquid products, such as beverages, edible oils, syrups and oil motor. According to the Department of Food and Public Distribution of the Government of India, the net availability of edible oils from all national sources was 8,630,000 tonnes in 2015-16, which rose to an estimated volume of 10,655. 000 tons in 2019-2020 in India. Therefore, the growing demand for liquid product packaging solutions is expected to drive the growth of the segment.

The cosmetic and toiletry applications segment held a large market share and is expected to register the fastest CAGR from 2021 to 2030. The use of cosmetics is increasing worldwide, which is expected to propel the demand for cosmetic packaging products. . Players are focused on developing new closure designs that are convenient to open and close while providing excellent seals. For example, Berry Global Inc. introduced the PalmSoft Child Safety Zipper for beauty and personal care products in 2018. This closure provides a soft rubber feel at the top with a better grip for patients with pain. arthritis and other people who have difficulty opening the bottle.

Highlights Of The Caps And Closures Market Report

  • The metals segment is expected to grow at a CAGR of 4.8% from 2021 to 2030 due to the increasing use of metals due to superior durability and durability compared to plastic.

  • According to the 2019-2020 annual report of CAN manufactures institutes, the total number of metal cans shipped from the United States was 125,123 million in 2018, and then 127,042 million in 2019, which are used for various food and beverage products. .

  • In addition, the COVID-19 pandemic is expected to increase demand for energy drinks, protein shakes, and dietary supplements that promote health and improve the immune system.

  • This, in turn, is expected to fuel demand for food grade packaging solutions including caps and closures in the near future.

  • Firms in the bottlenecks and closures industry adopt a variety of strategies, such as expanding capacity and strengthening market presence through mergers and acquisitions.

  • For example, in June 2020, Silgan acquired the 10 manufacturing facilities of the Albea Group as part of its distribution operations. Acquisition Expected to Help Silgan Expand its Closures Franchise as well as Distribution Systems Operations

Market dynamics

Conductors

  • Increased consumption of non-alcoholic beverages

  • Growing demand from expanding Asia-Pacific consumer markets

Constraints

  • Limited recycling of caps and closures

Challenges

  • Age-friendly / child-resistant closures for the healthcare industry

Companies mentioned

  • Crown

  • Amcor plc

  • International locking systems

  • Ball Corp.

  • Silgan Holdings Inc.

  • Berry Global, Inc.

  • AptarGroup, Inc.

  • BERICAP

  • Nippon Closures Co., Ltd.

  • Sonoco products company

For more information on this report, visit https://www.researchandmarkets.com/r/kkb7p6

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