The global caps and closures market is driven by emerging economies. China and India are two of the key caps and closures markets in the world. Caps and closures are used mainly in the packaging industry to preserve products to extend their shelf life. In the past, North America dominated the global packaging industry. However, the change in manufacturing trends has led to key companies to shifting their manufacturing bases from developed economies to emerging economies.

These trends have, in turn, substantially driven the packaging sector in emerging economies. Caps and closures being a significant segment in the global packaging industry will witness strong growth in emerging markets. Broadly, the global caps and closures market is segmented on the basis of product type, application, and geography.

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The research study on the global caps and closures market offers strategic market forecasts. These forecasts will help businesses understand the growth framework of the global caps and closures market for the food and beverages industry. Forecasts for the period of 2015 to 2021 are available in the report for both volume and value. In addition to this, the report delivers valuable forecasts for various segments of the market, which will help firms gauge the growth prospects of these segments.

Overview of the Global Caps and Closures Market

In terms of value, the global caps and closures market is projected to expand at a CAGR of 5.20% during the forecast period. In 2014, the market was worth more than US$36.2 bn and by 2021, the market is expected to be worth over US$51.5 bn. In terms of volume, the global caps and closures market is expected to expand at a 3.50% CAGR. In 2014, the market recorded 1342.2 bn units and by 2021, it is projected to record 1702.1 bn units.

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On the basis of product type, the global caps and closures market is divided into beverage caps and closures and food caps and closures. Some of the caps and closures used in the beverage closures segment are metal screw closures, corks, metal crowns, and plastic screw closures. In 2014, plastic screw closures led the beverage closures type segment in the global caps and closures market both in terms of value and volume in 2015. The rising consumption of beer and bottled water is driving the plastic screw closures segment in the global caps and closures market.

Region-wise, the global caps and closures market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Asia Pacific dominated the global caps and closures market both in terms of revenue and volume in 2014. The Asia Pacific market for caps and closures benefits from the rising demand for metal food cans. Nevertheless, it is Latin America that is projected to expand at the highest CAGR of 7.2% in terms of revenue during the forecast period.

Companies mentioned in the research report

Players in the global caps and closures market are eyeing emerging economies of Asia Pacific and Latin America. Some of the key players operating in the global caps and closures market are Berry Plastics, Crown Holdings, Silgan Holdings, Closure Systems International, Reynolds Group Holdings, AptarGroup, and Pact Group Holdings.

Product types covered under this research study are:
Food caps and closures
Beverages caps and closures

Global Caps and Closures Market for Food and Beverages Industry by Food Closures Type
Product types covered under this research study are
Peel-off foils
Easy-open can ends
Metal lug closures
Plastic screw closures
Others

Global Caps and Closures Market for Food and Beverages Industry by Beverage Closures Type
Plastic screw closures
Metal crowns
Metal screw closures
Corks
Others

Global Caps and Closures Market for Food and Beverages Industry by Application
Alcoholic Beverages
Non Alcoholic Beverages

Global Caps and Closures Market for Food and Beverages Industry by Alcoholic Beverages type
Beer
Wine
Others

Global Caps and Closures Market for Food and Beverages Industry by Non Alcoholic Beverages type

Bottled water
Carbonated soft drinks
Others

Global Caps and Closures Market for Food and Beverages Industry by Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

This report gives you access to decisive data such as:
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for the coming years

Key highlights of this report

Overview of key market forces propelling and restraining market growth
Up-to-date analyses of market trends and technological improvements
Pin-point analyses of market competition dynamics to offer you a competitive edge
An analysis of strategies of major competitors
An array of graphics and SWOT analysis of major industry segments
Detailed analyses of industry trends
A well-defined technological growth map with an impact-analysis
Offers a clear understanding of the competitive landscape and key product segments

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