The caps and closures market is expected to grow at a CAGR of 5.24% over the analyzed period to reach a market size of US$86.736 billion by 2028.

NOIDA, UTTAR PRADESH, INDIA, August 22, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the caps and closures market is projected to grow at a CAGR of 5.24% between 2021 and 2028 to reach US$86.736 billion by 2028.

The prime factors propelling the caps and closures market growth are the rising demand for packaged beverages coupled with the increasing trend in health and wellness which is shifting towards preventative healthcare, thus fueling demand for FMCG items that promote healthier lifestyles.

The demand for caps and closures is on the rise, driven by increasing food consumption and heightened concerns about product safety and quality. This has led to a growing necessity for effective caps and closures. As the packaged food and consumer goods markets expand, the demand is further fueled. Consequently, there's a surge in the requirement for innovative packaging materials that can safeguard products in challenging conditions while maintaining their quality.

The caps and closures market is undergoing substantial growth, attributed to collaborative endeavors and advancements in technology. For example, in 2021, Crown Holdings, Inc. introduced a range of inventive caps and closures within its product packaging lineup, encompassing both metal and plastic closures, among other options.

Access sample report or view details: https://www.knowledge-sourcing.com/report/caps-and-closures-market

The caps and closures market is segmented into caps, closures, corks, stoppers, cans, and others, based on type. The caps and closures market comprises various types of sealing solutions for containers and packaging. Caps, including screw caps, twist-off caps, and flip-top caps, are used to seal threaded neck containers, while closures encompass a wider range of sealing mechanisms like press-on caps and snap-on lids. Corks, often made from natural or synthetic materials, seal wine bottles and premium beverage containers. Stoppers, made from rubber, plastic, or metal, are used in laboratories, pharmaceuticals, and chemicals. Cans are sealed during manufacturing with pull-tab or intricate lids. The "Others" category includes specialized and innovative sealing solutions.

The market is segmented into plastic, metal, and others, based on raw materials. Plastics, a prevalent category, include materials like polyethylene (PE), polypropylene (PP), and polyethylene terephthalate (PET). These materials are popular due to their versatility, lightweight nature, and cost-effectiveness. On the other hand, metals, predominantly aluminum, and steel, are chosen for their durability, premium appearance, and ability to provide excellent protection to the contents.

The market is segmented by application, encompassing food, beverages, cosmetics, pharmaceuticals, and other sectors. In the food and beverage domain, various companies involved in raw material processing, packaging, and distribution rely on caps for packaged food, alcoholic and non-alcoholic beverages, and more. The growing demand for bottled water also significantly influences the market's trajectory.

In terms of geography, North America is anticipated to hold a substantial share of the caps and closures market over the projected period. Within North America, the United States is a dominant market owing to the high demand for caps and closures across diverse industries including pharmaceuticals, food, beverages, and cosmetics. Moreover, the increasing need for caps and closures in packaged beverages and related products is a key driver for growth in the US market. To meet evolving market needs, numerous industry players are expanding their operations to provide enhanced services and solutions. Noteworthy market developments include collaborations between major players; for example, Amcor's partnership with MGJ resulted in the development of IMPRESSIONS, an advanced liner technology featuring unique PE-PP formed-based liners, as well as innovative sealing solutions for caps across various designs.

The research study includes coverage of Amcor PLC, AptarGroup, Inc., Crown Holdings, Inc., Ball Corporation, Saint-Gobain, Silgan Holdings, Cerberus, Berry Global, Inc., BERICAP Holdings GmbH, and SIG among other significant market players in the caps and closures market.

The market report segments the caps and closures market as below:

• By Type

o Caps
o Closures
o Corks
o Stoppers
o Cans
o Others

• By Raw Material

o Plastic
o Metal
o Others

• By Application

o Food
o Beverages
o Cosmetics
o Pharmaceuticals
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• France
• Germany
• Spain
• Others

o The Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Indonesia
• Thailand
• Others

Explore More Reports:

• Global Cosmetic Packaging Market: https://www.knowledge-sourcing.com/report/global-cosmetic-packaging-market

• Global Glass Packaging Market: https://www.knowledge-sourcing.com/report/global-glass-packaging-market

• Food And Beverages Anti-Counterfeit Packaging Market: https://www.knowledge-sourcing.com/report/food-and-beverages-anti-counterfeit-packaging-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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