The Global Plastic Caps and closures Market Valued at 1584.63 Billion Units in 2019, and it is estimated to reach 2049.6 Billion Units by the end of 2026, expanding at an annual rate of about 4.6% between 2021 and 2026.
Plastic Bottle Caps: Introduction
The closure for the top opening of a Bottle is called as a bottle cap or bottle top. It is sometimes colourfully decorated and designed with the logo of the company or brand. Commonly plastic caps are used with plastic bottles, and they are made from PE or PF. For the manufacturing of plastic caps and plastic bottles, different material is used.
The Global Plastic Bottle Caps Market Forecast:
A heat induction cap liner can be applied to a variety of plastic bottles, such as PVC, HDPE, and PP. This protects the container against leakage and gives it tamper-proof characteristics, which will help to grow the market in the future.
The Global Plastic Bottle Caps Market Overview:
Plastic caps can be found in many industries, including food and beverages, pharmaceuticals as well as household goods. Caps are the last packaging components, and they are responsible for protecting the product packaging.
Plastic caps are made from PP or PE as their primary raw material. Plastic caps are a cost-effective seal solution that industries rely on. As a result, both the demand for pharmaceutical drugs and packaged food has been growing steadily. The caps market will also see increased demand over the forecast period.
This industry is dependent on suppliers of raw materials. PP and PE are both raw materials that have highly fluctuating prices in the market. Manufacturers find it difficult to keep constant production because the cost of production is affected by this raw material.
The plastic bottle caps market studies the different segments involved in the production process and end consumers. The plastic caps are made from plastic. There are many opportunities for plastic caps from the end-users, such as pharmaceuticals, cosmetics and toiletries. Online shopping has seen a rapid rise, and there will be more growth in the future.
Market Trend and Dynamics of the Global Plastic Bottle Caps Market:
Polypropylene to Account for a Significant Market Share in the Global Market
The heart of the plastics sector is the plastics converter. The thermoplastic polypropylene (PP) is reversible and can be reheated or reshaped. Caps made of polypropylene are well-known for their impact resistance, durability, cost-effectiveness, thermal resistance, and cost-effectiveness. Caps made of polypropylene are easily autoclavable. Caps made of PP with a wide mouth are ideal for dry products.
Food and drink is the EU’s largest manufacturing sector in terms both of jobs and added value. This is why the demand for plastic converters has been increasing. The EU’s food and drink exports have doubled in the past 10 years to reach over EUR 90 billion. This contributes to a positive balance of nearly EUR 30 billion. This is why PP demand is experiencing rapid growth.
Germany is considered as Europe’s largest beverage industry, which also symbolizes the fourth largest industry sector in Germany. Due to the high demand for beverages such as energy drinks and mocktails, the demand for PP increases faster.
North America to Occupy Major Share in Global Market
The region’s caps and closures market is largely driven by the food industry. Consuming healthier beverages is becoming more popular. This has made bottled water more convenient for consumers and is driving the growth of the caps markets.
Different types of plastic closures are used to protect food products that have been stored in bottles. For food products such as grains, metal caps and closures can be used. The United States is the world’s second-largest food market and is expected to hold a significant share of the caps market.
Retail shelf packaging is becoming more popular in the United States and Canada due to changing lifestyles. This lifestyle change will likely drive sales growth through retail channels.
The growing number of millennials population in the workforce further supports this trend. The flexible work schedules of the millennial population in the United States have boosted the demand for quick meals. This will drive the Market for caps (due to the increase in packaged foods).
Market Dynamics: Market Value Share Analysis
Global Plastic Bottle Caps Market Value Share Analysis, by Type:
Based on Type, The Market is segmented into PP Caps, PE Caps And Other Materials
The PE Caps segment dominates the market. PE caps are made from polypropylene, which is thermoplastic. Thermoplastic can be reversible, and It has several attributes, such as it can be reheated and reshaped. Therefore PP bottle caps are autoclavable. Wide mouth PP caps are easily suitable for many dry products. The PE caps segment hold the largest market shares, which exceeds 60% of the total Global Plastic Bottle Caps Market.
Global Plastic Bottle Caps Market Value Share Analysis, by Application:
Based on Application, The Market is segmented into Beverage Industrial, Pharmaceutical Industrial, Personal Care Products, and Others
The beverage segment has been showing significant growth with considerable CAGR during the forecast period.
The Food and drink industry is responsible for the growing demand for PP bottle caps in Europe. Europe has registered double growth in food and drinks exports in the last 10 years, and the exports market value has reached over 90 Billion Euro.
Germany is considered to be Europe’s largest beverage industry. It is also the fourth widest sector in Germany. Therefore, there has been high demand of beverages products such as mocktails, energy drinks etc. which is accounted for the rising demand for PP Caps.
Global Virtual Data Room Market Value Share Analysis, by Geographical Outlook:
Based on Regional Analysis, The Global Plastic Bottle Caps Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
North America is to occupy a major share that exceeds 55% of the global plastic bottle caps market. The food and beverage industry is the primary contributor to the plastic caps market in this region. Over time consumers have become more health-conscious, and demand for healthy drinks has been growing. Bottled water has become a more accessible convenience due to a rise in personal income. These factors are responsible for the growth of the plastic bottle caps market.
By product type, The PE Caps segment dominates the market. It holds the largest market shares, which exceeds 60% of the total Global Plastic Bottle Caps Market.
By application, the beverage segment has been showing significant growth with considerable CAGR during the forecast period. It holds the largest markets share, which exceeds 70% of the total Global Plastic Bottle Caps Market.
By Geographical landscape, North America accounted for a large revenue share in the global plastic bottle caps market. In 2019, North America was accounted for a big revenue share, which is about exceeding 55%.
Companies considered and profiled in this market study: CSI, Bericap, Berry Plastics, Alila, Mocap, Zijiang, Jinfu, ZhongFu, Silgan, Crown, GCS, Aptar Group, Oriental Containers, Mold Rite Plastics, and Blackhawk Molding
Major key market players have been deploying various strategies, expansion, technological advancements, and agreements to gain an advantage in the highly competitive market.
Segments Covered in the report:
This report includes forecasts and revenue growth for a global, regional, and country-level. Besides, it also provides an analysis of market trends for segments as well as sub-segments for the period between 2021 to 2030.
The Key Market Segmentation of the Global Plastic Bottle Caps Market:
This Research Report Categorized The Global Plastic Bottle Caps Market Based on Types, Applications, and Geographical Landscape.
Plastic Bottle Caps Market Segmentation By Types:
Plastic Bottle Caps Market Segmentation By Application:
Personal Care Products
Plastic Bottle Caps Market Segmentation By Geographical Landscape:
Middle East and Africa
Major Key Players in the Global Plastic Bottle Caps Market Are:
• Berry Plastics
• Aptar Group
• Oriental Containers
• Mold Rite Plastics
• Blackhawk Molding
Key Benefits for Stakeholders:
The report offers a comprehensive analysis of current and emerging Global Plastic Bottle Caps Market trends and dynamics.
Extensive research of markets is carried out through constructing market estimates for the most important segments of the Market between 2021 and 2030.
A comprehensive study of market trends is done through the analysis of key positioning for products and monitoring the leading competitors within the framework of the Market.
An extensive analysis of each region is offered to help determine the current market opportunities for the Global Plastic Bottle Caps Market.
The Global Plastic Bottle Caps Market forecast analysis for 2021 to 2030 is contained in the report.
The main key players within the Market are profiled in this report, and their strategies are extensively analyzed, and it helps to determine the future competitive landscape of the Market.”