SAN FRANCISCO, A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Caps and Closures – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Global competitiveness and key competitor percentage market shares Market presence across multiple geographies – Strong/Active/Niche/Trivial Online interactive peer-to-peer collaborative bespoke updates Access to our digital archives and MarketGlass Research Platform Complimentary updates for one year
Edition: 20; Released: February 2022
Executive Pool: 5670
Companies: 441 – Players covered include Amcor plc; AptarGroup, Inc.; BERICAP GmbH & Co. KG; Berry Global Inc.; Closure Systems International, Inc.; Crown Holdings, Inc.; Guala Closures S.p.A; Manaksia Limited; RPC Bramlage Division GmbH & Co.KG; Silgan Holdings Inc. and Others.
Coverage: All major geographies and key segments
Segments: Material (Plastic, Metal, Other Materials); Type (Caps, Closures, Other Types); Application (Food & Beverage, Pharmaceutical, Cosmetics, Automotive, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Caps and Closures Market to Reach $69.7 Billion by 2026
Caps and closures are very essential in the packaging sector as they are used to close or seal the containers such as jars, cans, bottles, and tubes. Caps and closures offer convenience, enhancing visual appeal, and facilitating brand diversification. Caps and closures are preferred for their stress crack, creep resistance, impact performance and sealability properties, as well as excellent odor and taste restraining properties. Global demand will be led by rapidly expanding market for packaged goods and rising concerns over product safety and quality. Amid the COVID-19 crisis, the global market for Caps and Closures estimated at US$55.5 Billion in the year 2022, is projected to reach a revised size of US$69.7 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Plastic Caps and Closures, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$52.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metal Caps and Closures segment is readjusted to a revised 4.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.5 Billion in 2022, While China is Forecast to Reach $10.8 Billion by 2026
The Caps and Closures market in the U.S. is estimated at US$13.5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.8 Billion by the year 2026 trailing a CAGR of 7.1% over the analysis period. Europe represents the largest regional market accounting for an estimated 25.9% share of the global total. The market, estimated at US$14.1 Billion in 2022 is projected to reach US$16.7 Billion by 2026. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5.2% respectively over the analysis period. An important growth driver in these regional markets is the increasing demand for sports drinks, which is gaining popularity among the rapidly expanding health-conscious consumer base. A number of companies are offering sports drinks in ready-to-drink format, which in turn leads to greater demand for caps and closures suitable for such packaging.
Metal Caps and Closures Segment to Reach $14.9 Billion by 2026
Metal has been in use as a packaging material for storage and preservation of perishable products since time immemorial. The material accounts for about 23.3% of the global beverage packaging materials market. Newer technologies of shaping, embossing and adding decorative finishes to the final product, which surfaced over the years, have only resulted in making metal more adaptable. Given their ability to maintain taste and quality, metal screw caps are currently used in wine and white wines bottles. Advent of advanced metal closures and dispensing caps is expected to fuel growth in this segment. Global market for Metal Caps and Closures is estimated at US$12.1 Billion in 2022, and is projected to reach US$14.9 Billion by 2026 reflecting a compounded annual growth rate of 4.9% over the analysis period. Europe constitutes the largest regional market for Metal segment, accounting for 26.2% of the global sales. China is poised to register the fastest compounded annual growth rate of 6.5% over the analysis period, to reach US$1.9 Billion by the year 2026.
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