Sun, 28 Nov 2021

The rise in demand for bottled drinks and beverages, increasing focus on product security and safety, and the elevated emphasis on branding and product differentiation has resulted in boosting the plastic caps and closures market. The global plastic caps and closures market is forecast to reach USD 58.50 Billion by 2026, according to a new report by Reports and Data. A combination of different market factors are supporting the growth of the market. One of the mentionable factor in this context is expanding the beverages industry and increasing market competition among industry players. The elevated competition among market players has resulted in an increasing emphasis on branding and product differentiation among packaged water and drinks manufacturers. As a result of the growing focus on branding and product differentiation, there is an increased demand for plastic caps and closures with different colors and altered company logo, which in turn propells the market growth.

The increasing emphasis on health and hygiene has also resulted in the growth of the toiletries industry. The expansion of the toiletries industry is propelling the demand for plastic closures and caps. Different initiatives taken by the market players is another mentionable factor. As an instance, Klöckner Pentaplast Group had entered into a marketing alliance with Berry Plastics Group, Inc., a market player of plastic closures and caps. Such initiatives taken by industry players helps in supporting the expansion of the market.

Companies considered and profiled in this market study

Amcor

Berry Global

Silgan Holdings

Crown Holdings

Bericap

RPC Group

Closure Systems International

Aptar Group

Berk Company

LLC and Coral Products.

For Exclusive Sample Report https://www.reportsanddata.com/sample-enquiry-form/1790 Further key findings from the report suggest:

The plastic caps and closures market held a market share of USD 41.17 Billion in the year 2018 with a growth rate of 4.4% during the forecast period.

In regards to Product type, the Screw-On Caps segment yielded the highest revenue of USD 20.58 Billion in 2018 with the fastest growth rate of 5.0% during the forecast period. The revenue generated by the Screw-On Caps segment is the result of its extensive use in different industries because of its traits like lightweight, cost-effective, user-friendly, can be tamper-evident and provides with enhanced security to the product within the bottle.

In context to Raw Materials, the HDPE (High-Density Polyethylene) segment is projected to witness the fastest growth rate of 5.1% during the forecast period, which is expected to occupy 22.2% of the market by 2026. The growth rate experienced by the HDPE segment is attributed to rising awareness about environmental hazards associated with disposed plastics and recyclability of HDPE, which contributes to its increasing popularity.

Customization on the report is available according to the requirements of the user to ensure maximum utility to the reader and an increased level of comprehensibility.

In context of End-use, the Foods and Beverages segment holds the largest market share of 51.0% in 2018 with the second-highest growth rate of 4.6% during the forecast period. The market share occupied by the Foods and Beverages segment is the result of the continuous expansion of the beverage industry and the increasing demand for online food delivery sector.

In regards to region, North America holds the second-largest market share of 23.0% in 2018 with a CAGR of 3.5% during the forecast period. Lifestyle changes, the increasing popularity of retail shelf packaging, and rising demand for on-the-go foods are some of the contributing factors for the market share occupied by this region.

You Can Buy The Complete Report At https://www.reportsanddata.com/checkout-form/1790

Why should buy this report?

Provides in depth research analysis of the overall Plastic Caps and Closures market. which can help save time for start-up businesses related to the Plastic Caps and Closures Market.

The Plastic Caps and Closures markets latest news, forecast analysis as well as the key competitors of the market are easily available with all the necessary information.

The Plastic Caps and Closures report comprises of graphs, pie charts and other representations that can help the reader understand the information at a glance.

Through the Plastic Caps and Closures report the manufacturers can understand the consumer behavior, business segments as well as sell products-based information provided.

COVID-19 impact on the market and industry as well as the recovery analysis.

Download Summary of This Report https://www.reportsanddata.com/request-customization-form/1790

Similar Research reports by Reports and Data:

Anti-Counterfeit Packaging Market By Technology (Barcodes, Holograms, Taggants, RFID, Packaging Designs, and Others), By Usage Features (Overt Feature and Covert Feature), and By End-Use Industry, 2016-2026.

Commodity Plastics Market Size, Share, Demand By End Usages (Packaging, Construction, Consumer Goods), By Type (Low Density Polyethylene, Polyvinyl Chloride, Polyester), By Type of Plastic (Reusable and Recyclable, Recyclable), And Segment Forecasts To 2028

Spun Bond Non-Woven Market Analysis, By Material (Polyester Spun Bond Nonwoven, Polypropylene Spun bond non-woven, Polyethylene Spun bond non-woven, Polyurethane non-woven, Polyamide Spun bond non-woven) forecasts to 2028

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

More Massachusetts News

Access More

Sign up for Massachusetts State News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!