The packaging industry is undergoing a massive transformation; primarily fueled by uptight regulatory framework as well as changing consumers’ preferences. This ongoing sustainability drift has influenced manufacturers to accelerate their shift towards eco-friendly rigid and flexible plastic packaging formats.
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Global plastic caps market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The plastic caps are the products that play a major role in packaging and are responsible for upholding the integrity of the product packing. It is a cost-effective sealing solution.
The factors that are playing a major role in the growth of the market are the developing branding and product differentiation, the growing demand for bottled water from end-users, and the growing concern regarding product security and safety. However, the presence of alternatives may restrain overall market growth in the years to come. Market is segmented based on product type, container type, technology, material, end-user and region.
Dispensing caps and screw-on caps are the product types that could be explored in plastic caps market and is estimated to lead the overall market in the years to come. Screw-on caps sector accounted for the substantial market share of plastic caps market and is estimated to continue its dominance in the years to come. The reason could the growing demand from pharmaceutical and food & beverage industries.
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Glass, plastic, and other container types could be explored in the market in the forecast period. The plastic sector is estimated to grow at the highest CAGR in the years to come. The reason could be its lightweight, cost-efficient, and are economical. Based on technology, the post-old TE band, compression molding, and injection molding could classify plastic caps in the forecast period.
PVC, PP, PET, LDPE, HDPE, and other raw materials could be explored in plastic caps market in the forecast period. The market could be categorized based on end-users like personal care & homecare, beverages, pharmaceuticals & healthcare, food, chemical industry, automotive industry, and others could be explored in the forecast period.
Globally, Asia Pacific accounted for the substantial share of plastic caps industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be developing industries like personal care, beverage, and healthcare, the rising disposable income, and the growing population. The developing countries like India and China are the major consumer of plastic caps in this region. The key players of the plastic caps market are BERICAP GmBh & Co. KG, Berry Global, Inc., Silgan Holdings Inc., Aptar Group Inc., Global Closure Systems, and Evergreen Packaging Inc. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Prominent players in the global gable top caps and closures market are BERICAP GmbH & Co. KG, Evergreen Packaging Inc., UNITED CAPS LUXEMBOURG S.A, Tetra Pak, International S.A., Elopak Inc., Silgan Plastic Closure Solutions, Closure Systems International, Inc., Berry Global, Inc., and O. Berk.In order to grow their shares in the global gable top caps and closures market, most companies are banking on collaborations, acquisitions, and an enhanced product portfolio. Berry Global, Inc., for example, is not just trying to bolster sales through a diverse prod
uct portfolio but through collaborations and acquisitions, especially in the relatively untapped Asia Pacific market. Similarly Amcor Limited has been augmenting its market presence through both organic and inorganic route. It has increased its manufacturing capacity to offer a wide array of products and has been focused on acquisitions in the rigid plastic segment to tap into a larger customer pool.As per a report by Transparency Market Research, the global gable top caps and closures market will likely expand at a 5.7% CAGR from 2017 to 2025 to become worth US$79.1 mn in 2025 from US$48.5 mn in 2016.Beverages Segment to Create Cream Bottles Factory Maximum Opportunity in Leading Asia Pacific MarketDepending upon the type of product, the global gable top caps and closures market can be split into screw caps and flip caps, among others. Of the two, the segment of screw caps holds a majority of the share in the market and rising at a 5.9% CAGR between 2017 and 2025 is slated to grow its market share in the near future.Based on geography, the global gable top caps and closures market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific, of them, is a key market that accounts for a dominant share. The region grossed an overall revenue of US$19.4 mn by the end of 2016. The application segment of beverages is primarily driving the growth in the market in the region.
Industry Friendly Innovative Design in Plastic caps Manufacturers Gable Top Cartons Fuels DemandMajorly fuelling the global gable top caps and closures market is the industry friendly innovative design in gable top cartons. “The innovative design on gable top cartons has made it easy to print different product and brand related information on it. The gable top cartons provide large surface compared to other liquid packaging solutions such as bottles and cans. This coupled with their visually appealing characteristics goes a long way in drawing the attention of consumers. This is driving the demand for gable top cartons, which in turn is predicted to have a positive impact on the global gable top caps and closures market,” explains the lead analyst of the TMR report.A major drawback for the global gable top caps and closure market is the volatile petroleum products prices. Since caps and closures are manufactured from plastics such as PP, PE, etc., which in turn is extracted from petroleum products, price fluctuation of the latter impacts the overall production costs.
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