dispensing caps designed

Market Overview

The "Global Plastic Caps and Closures Market" is expected to grow at a CAGR during the forecast period (2021-2028).

 Plastic Caps and Closures are the final components of the packaging process used in various industries such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. for maintaining the quality of the products, freshness, and increasing the shelf life.

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 Market Dynamics:

The market growth is driven by the rising demand for plastic caps and closures due to their characteristics such as versatility, easy availability, durability, and flexibility. The growing trend of e-commerce shopping is also influencing the use of plastic caps and closures. Plastic caps and closures are widely used in toiletries for producing hair preparations products, face creams, lotions, and perfumes due to the rising emphasis on health and hygiene.

 Several companies are preferring plastic caps and closures due to their lower transportation cost, cost-effectiveness, durability, customizability, and chemical stability. New product launches and product diversification shall have a positive impact on the market. For instance, in March 2019, Aptar Beauty has launched a new dispensing closure made from 50% post-consumer recycled resin (PCR) to be used on Ecover washing up liquid. It would ensure a leading position in the global transition to a circular economy and a sustainable future.

 However, consumer health concerns and government taxes on the use of plastic caps and closures are hindering the market growth.

 Segment Analysis

The global plastic caps and closures market is segmented based on the material type as High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polyethylene Terephthalate (PE), and Others. Polypropylene accounts for a significant market share due to the high usage of polypropylene plastic caps and closures in the food & drink industry and pharmaceutical industry due to its stability when exposed to high temperatures and low moisture vapor transmission. Polypropylene closures with foamed polyethylene liners have excellent sealing characteristics and offer good chemical resistance including acids, alcohols, alkalis, aqueous products, cosmetics, household oils, and solvents.

 High-Density Polyethylene (HDPE) segment is one of the fastest-growing segments due to rising awareness regarding the environmental hazards associated with disposed plastics and recyclability.  It is used for producing caps and closures for carbonated soft drinks, juices, teas, and bottled water owing to its durability and strength properties.

 The market is also fragmented based on product types as screw caps, dispensing caps, liquid carton closures, plastic aerosol sprays, plastic lotion pumps, and others. Screw caps segment dominates the market due to the high demand for screw caps because of its characteristics such as being lightweight, cost-effective, and user-friendly. It is also used as an alternative to cork for sealing wine bottles.

 Further, the market is also classified on the basis of food & beverages, pharmaceuticals, cosmetics & toiletries, and others. Food and beverage industry dominate the market as it is one of the fastest-growing industry with rising needs and changing habits. Consumers are preferring packed goods instead of unpacked goods especially in developing countries such as India and China. Expansion of the beverage industry and the increasing demand for online food delivery shall have a positive impact on the market. Hence, the food and beverage segment is expected to maintain its dominance over the forecasted period.

 The pharmaceutical segment shall have a positive market share as plastic caps and closures have become an essential part of the final packaging of pharmaceutical products. There is an increase in the demand for plastic caps and closures due to the high usage of refillable syringes, vials, and parenteral containers.

 Geographical Presentation

By region, the global plastic caps and closures market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global plastic caps and closures market due to the rising growth in the food and beverage industry. As per the Committee for Economic Development, the food and beverage industry is meeting the continuous needs of 320 million American consumers, as well as many consumers overseas. The food and beverage industry alone generates USD 164 billion in value-added and accounts for 15.3 cents out of every consumer food dollar. Hectic lifestyles have led to a shift from the trend of cooking to the trend of snacking, ready-to-eat food, and processed foods. Consumers are buying packed processed and ready-to-eat foods. This has resulted in increasing the demand for plastic caps and closures for packing and storing those foods. Different kinds of airtight plastic closures are used for storing food in bottles. Metal caps or closures are also used for the storage of grains in a glass container.

 European countries are also witnessing the high usage of plastic caps and closures in product packaging to enhance the aesthetics and functionality of the products. Plastic caps and closures are widely used in alcoholic and non-alcoholic beverages. Europe is the largest exporter of food and drink products in the world. According to FoodDrinkEurope, the food and drink industry has a turnover of Euros 1.1 trillion and Euros 230 billion in value-added in Europe. The majority of the companies are using injection-molded HDPE closures for packaging pharmaceutical products. There is a shift from two-piece closures to one-piece closures due to their less weight, large seal angle, and require less torque.

  Growing urbanization, rising per capita income, booming food & beverages, and growing purchasing power are fuelling the market growth in the Asia Pacific region including China, and India.

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 Competitive Analysis

The global plastic caps and closures are witnessing high competition with the presence of several local and international players. Amcor Limited, Silgan Holdings Inc., Comar LLC, AptarGroup, Alcoa Corporation, Phoenix Closures, Inc., and Guala Closures Group are the leading market players with a prominent market size.

 Companies are using different strategies such as portfolio expansion, product diversification, new product launch to increase their market penetration. Different processes such as injection molding, compression molding, and others are used for the production of plastic caps and closures.

 The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for plastic caps and closures and their expansion across the globe. For instance, in January 2020, Silgan Holdings Inc. had acquired Albea’s dispensing business for USD 900 million. It would enable Silgan to enhance the scope of our leading closures franchise by introducing the new products and capabilities in the highly engineered dispensing category. In August 2019, AptarGroup, Inc. had entered into an exclusive partnership with Nippon Closures Co., Ltd. (NCC) to cross-license technology for tethered beverage closures. This is the first cross-license, registered intellectual property exchange between NCC and Aptar. It would allow Aptar to grow the portfolio of dispensing closures that are more convenient for consumers and more sustainable for the environment.

 The companies are also investing to increase their production capabilities around the globe. For instance, in January 2020, Berry Global Group Inc. had raised an investment of USD 20 million to add capacity for breathable films. The company would add capacity at plants in Augusta, Ky., Nashville, Tenn., McAlester, Okla., and Washington, Ga.

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Convenience and concerns about product safety drives the Plastic Caps and Closures Market

The global plastic caps and closures market size is projected to grow from USD 44.3 billion in 2020 to USD 57.0 billion by 2025, at a CAGR of 5.2% between 2020 and 2025. Factors such as the need for convenience and better operability act as important drivers for plastic caps & closures. A plastic cap plays a key role in safeguarding the product from dust and other microbes. Plastic caps &…