Rapidly expanding food and beverages industry and rapid advancements in caps and closures packaging are key factors expected to drive global market growth.

PUNE, MAHARASHTRA, INDIA, February 10, 2023 /EINPresswire.com/ -- Globally, the Caps & Closures Packaging Market is expected to expand at a significant CAGR over the next few years due to its growing scope and applications. Revenue growth of the global market is attributed to increasing demand for caps and closures across various sectors such as food and beverages, cosmetics and personal care, home care, pharmaceutical and automotive, rising inclination towards packaged food, alcoholic and non-alcoholic beverages, and increasing investments for developing more enhanced products.

Caps and closures play an important role in packaging sector in terms of product protection and shelf life extension. They act as a barrier and prevent the products from getting exposed to light, ambient air, and dust particles and thereby increasing their shelf life. In addition, these offer beneficial properties such as stress crack, impact performance, odor-restraining properties, and scalability. These caps and closures are designed to fit specific types of bottles, jar neck or containers and are commonly made from fit product packaging such as plastic, metal, rubber, or glass, widely used for pharmaceutical products, personal care, consumer goods, food & beverages, electronic goods and paint and dyes.

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However, factors such as stringent government norms regarding recycling of caps and closures, availability of cheaper substitutes, and rising demand for blister packages and pouches are expected to hamper overall market growth to a certain extent during the forecast period.

Plastic Segment To Register Rapid Revenue CAGR:

The plastic segment is expected to register rapid revenue CAGR owing to unique properties such as high mechanical strength, better resistance to wear and tear, and high stiffness along with cost-effectiveness, growing demand for plastic caps and closures across various industrial sectors, and increasing investments for developing advanced plastic products.

Food & Beverage Segment to Account for Largest Revenue Share:

The food and beverages segment is expected to account for largest revenue share throughout the forecast period owing to rapidly expanding food and beverages sector, rising demand for advanced differentiating caps and closures for different food products and beverages, rising preference for packaged food products, ready-to-eat meals, and non-alcoholic beverages. In addition, emergence of novel functional beverages, energy and sports drinks, meal replacers, and probiotic beverages is expected to drive segment revenue growth going ahead.

Asia Pacific to Register Robust Revenue Growth:

Asia Pacific is expected to register robust revenue growth over the forecast period owing to growing demand for various types of caps and closures across various industrial sectors, rising disposable income, increasing demand for packaged food and bottled beverages and cosmetic products, and rising investments in developing advanced products.

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Caps & Closures Packaging Market By Company:

• Amcor
• Albéa
• Janco
• Huhtamaki
• Constantia Flexibles
• Dupont
• Multivac
• Winpak
• Essel Propack

The global caps & closures packaging market has been segmented based on type, application, and region:

Caps & Closures Packaging Market Segment by Type:

• Paper
• Metal
• Glass
• Plastic

Caps & Closures Packaging Market Segment by Application:

• Pharmaceuticals
• Personal Care
• Consumer Goods
• Food & Beverage
• Electronic Goods
• Paint and Dyes

Caps & Closures Packaging Market Segment by Region:

• North America (USA, Canada)
• Europe (Germany, France, UK, Italy, Russia)
• Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
• Latin America (Brazil, Argentina)
• Middle East & Africa (Turkey, Saudi Arabia, U.A.E)

Reasons to Purchase:

• Estimates 2023 to 2028 caps & closures packaging market current market trends and development trends
• Market dynamics along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the caps & closures packaging market
• Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
• Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
• Brief about impact of COVID-19 on the global caps & closures packaging market

Key Question Answered:

• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global caps & closures packaging market?
• What is the expected market size of the global caps & closures packaging market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?

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