Over the past few years, packaging industry is experiencing a robust growth, mainly driven by the changing packaging solutions along with the increasingly changing the customer’ needs. Packaging is not only restricting to protect the products during transportation but also it is used to enhance the brand visibility that in turn increases the brand value of the product. Caps & closure is considered to be one of the important packaging solution among the personal care & cosmetic and beverage manufacturing companies. One of the most widely used caps & closure serving the purpose for most of the brand owners is smooth hinge caps & closure. Smooth hinge caps & closure is gaining momentum as a packaging solutions owing to it innovative and aesthetic look. Finally smooth hinge caps & closure offers anti counterfeit property which is expected to enforce the brand owners to use smooth hinge caps & closure as a packaging solutions.
Smooth Hinge Caps & Closure: Market Dynamics
Smooth hinge caps & closure market growth is attributed by impressive growth in consumer products market across different geographies. Cosmetic & personal care industry which reported over 10% annual growth in developed nations of Asia Pacific regions, anticipated to be the key contributor to smooth hinge caps & closure demand. On the other hand, luxury packaging acted as a substantial factor to the accelerated demand for smooth hinge caps & closure across the globe.
Due to the mounting growth of organized retail sector, smooth hinge caps & closure plays a pivotal role because consumers makes the decision making process not only by the quality of the products but also packaging of the product is considered. Now a days, consumers are also interested pay higher amount of money to obtain the cosmetic & personal care products having attractive and aesthetic look. Thus, a larger chunk of pharmaceutical manufacturers are expected to adopt smooth hinge caps & closure to minimize the chances of counterfeiting. Apart from cosmetic & personal care industry and pharmaceutical industry, smooth hinge caps & closure are widely used as packaging solutions for the various food products like condiments that is expected to create a positive impact in the global smooth hinge caps & closure market.
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Smooth Hinge caps & closure Market: Regional outlook
In terms of geography, the global smooth hinge caps & closure market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The global smooth hinge caps & closure market is expected to witness an impressive CAGR over the forecast period of 2016- 2024. Among all the regions, Asia Pacific region is expected to account maximum market share in the global smooth hinge caps & closure market during the forecast period. Growth in Asia Pacific is contributed by the mounting growth of cosmetic & personal care sectors during the forecast period. Within the Asia pacific region, India and China are expected to be the attractive destinations for the smooth hinge caps & closure manufacturer. Furthermore, North America, particularly US will continue to post an impressive growth, largely contributed by the growing organized retail sectors coupled with the introduction of new products. However, Middle East & Africa region which is poised to reflect least growth across all geographies.
Smooth Hinge caps & closure Market: Key players
Some of the key players in the global smooth hinge caps & closure market are Nippon Closures Co Ltd., Interpac International Corporation, B&C PLASTICS LTD., RPC Group Plc, Closure Systems International, Inc., Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc. etc.
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