Plastic Caps & Closures Market Important Changes in Industry Dynamics during 2022-2029
Press Release from Future Market Insights
Soaring consumption of carbonated and non-carbonated drinks has been translating into improving prospects of bottles, jars, and other similar packaging formats, which in turn, lead to increasing sales of plastic caps & closures. The global plastics caps & closures market is projected to clock an impressive CAGR of 5% during 2022 – 2029, majorly driven by the consistent demand for plastics caps & closures of bottles, jars, tubes, and containers. The thriving trend of convenience packaging is further driving sales of different types of plastics caps & closures such as screw, snap, and push & pull caps & closures.
Key Takeaways – Plastics Caps & Closures Market Study
Screw caps & closures are experiencing the unmatchable demand, especially in the beverage industry as this packaging solution maintains the optimum air levels in bottles and provides convenient opening and closing.
Thermoplastics such as polyethylene (PE), polypropylene (PP), and others dominate the global plastics caps & closures market in terms of material. Use of these plastics for manufacturing plastics caps and closure offers advantages such as low processing cost as well as lightweight and high strength products.
The beverage industry has been identified as the key end user of the plastics caps & closures, as this sector generates a constant demand for plastics caps & closures to pack a wide variety of carbonated and non-carbonated drinks.
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Plastic Caps & Closures Market by Category By Caps Type:
Screw Closures
Snap Closures
Push-Pull Closures
Others
By Material Type:
Thermoplastic
PE
LDPE/LLDPE
HDPE
PP
Others (PS, PET etc.)
Thermosets
By End Use:
Beverage
Food
Pharmaceutical
Household
Cosmetics & Personal Care
Looking at the growth of food & beverages industry across developing Asian economies and the subsequent rise in demand for convenient packaging formats, manufacturers of plastics caps & closures are most likely to spot profits in Asia Pacific (excluding Japan).
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Rising Demand for Convenience Packaging and Small Bottles
Consumers prefer to bring their favorite products with them when they go to different places. Millennials across the globe are more inclined towards convenience packaging as these packaging solutions are easy to carry, easy to dispose, and have better flow control. High preference for these convenience packaging products over conventional packaging products, especially from the Generation Z, boosts the demand for plastics caps & closures. The rapidly rising adoption of smaller bottles due to the current “on-the-go and breakfast bottles” trend in the beverage industry is another factor that propels growth of the plastics caps & closures market.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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