Global Caps & Closures Market Poised for Significant Growth, Projected to Reach USD 108.32 Billion by 2030

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caps closures market

Caps & Closures Market

Caps & Closures Market size was USD 73.87 billion in 2022 and is expected to Reach USD 108.32 billion by 2030 and grow at a CAGR of 4.9 % over the forecast period of 2023-2030.”

— Sr. Researcher Sushant Kadam

AUSTIN, TEXAS, UNITED STATES, February 2, 2024 /EINPresswire.com/ — The Caps & Closures market, valued at USD 73.87 billion in 2022, is set to experience substantial growth, projecting a robust Compound Annual Growth Rate (CAGR) of 4.9% over the forecast period from 2023 to 2030. A comprehensive market analysis reveals key insights into the industry landscape, highlighting market scope, in-depth analysis, segment breakdown, regional developments, and recent trends.

Prominent Players In Study Are

• Crown Holding Inc
•  Amcor Plc
•  Nippon Closures Co Ltd
•  Weener Plastics
•  Secure Industries Private Limited
•  UNITED CAPS
•  Guala Closures S.p.A
•  Aptar Group
•  Berry Global Inc
•  Samhwa Crown & Closure
•  and other players.

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Market Report Scope:

The Caps & Closures market report offers an extensive scope, covering various facets influencing market dynamics. It provides a comprehensive overview of industry trends, market drivers, challenges, and opportunities. The report also includes a competitive analysis, shedding light on strategies employed by key players to maintain a competitive edge.

Market Analysis:

In-depth market analysis unveils a promising trajectory for the Caps & Closures market, fueled by increasing demand across diverse end-use industries. The report explores current market conditions and future prospects, considering factors such as technological advancements, regulatory influences, and emerging trends. Insights into consumer preferences, innovative technologies, and macroeconomic impacts are provided for a holistic understanding.

Segment Analysis:

Segmentation analysis breaks down the Caps & Closures market based on product types, materials, applications, and end-user industries. This detailed examination allows stakeholders to identify growth segments and tailor strategies accordingly. The report outlines market share, revenue, and growth potential for each segment, offering valuable insights for strategic decision-making.

KEY MARKET SEGMENTS & SUB-SEGMENTS

By Raw Material
• Plastic
• Metal
• Others

By Product type
• Roll-On Balls
• Plastic Caps
• Closures
• Other Caps

By End Use
• Food
• Pharmaceutical
• Cosmetics
• Beverage
• Automotive
• Packaged Water Bottle
• Others

Key Regional Developments:

The Caps & Closures market exhibits notable regional variations influenced by economic factors, consumer behaviors, and regulatory landscapes. The report highlights key regional developments, including market size, growth trends, and major players’ activities in each region. Understanding regional dynamics is crucial for businesses aiming to capitalize on specific market opportunities and navigate challenges effectively.

Key Takeaways:

• The caps & closures market is expected to witness steady growth due to rising demand for packaged goods, focus on convenience and functionality, and increasing adoption of sustainable materials.

• Innovation in closure design and functionality, such as child-resistant and tamper-evident features, will continue to drive market expansion.

Recent Developments

1. In June 2020, Silgan Holdings completed the acquisition of the dispensing business from Albea, a prominent packaging company based in France. Albea’s dispensing business specializes in providing pumps, sprayers, and foam dispensing solutions to major consumer goods companies within the personal care and beauty markets. Operating across 10 manufacturing plants located in North America, Europe, South America, and Asia, this strategic acquisition is anticipated to contribute modestly to Silgan Holdings’ earnings in 2020.

2. In July 2020, Berry Global Group successfully acquired RPC Group, a move that positioned the company as a leading global supplier of value-added protective solutions and one of the largest plastic packaging companies worldwide. This acquisition significantly expanded Berry Global Group’s global footprint, boasting over 290 locations across North and South America, Europe, Asia, Africa, and Australia.

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Table of Contents

1. Introduction
➔Market Definition
➔Scope
➔Research Assumptions

2. Research Methodology

3. Market Dynamics
➔Drivers
➔Restraints
➔Opportunities
➔Challenges

4. Impact Analysis
➔Impact of Ongoing Recession
➔Impact of Covid-19

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Caps & Closure Market Segmentation, By Raw Material
➔Plastic
➔Metal
➔Others

9. Caps & Closure Market Segmentation, By Product Type
➔Roll-On Balls
➔Plastic Caps
➔Closures
➔Other Caps

10. Caps & Closure Market Segmentation, By End Use
➔Food
➔Pharmaceutical
➔Cosmetics
➔Beverage
➔Automotive
➔Packaged Water Bottle
➔Others

11. Regional Analysis
➔Introduction
➔North America
➔USA
➔Canada
➔Mexico
➔Europe
➔Asia-Pacific
➔The Middle East & Africa
➔Latin America

12. Company Profile

13. Competitive Landscape
➔Competitive Benchmarking
➔Market Share Analysis
➔Recent Developments

14. Use Cases and Best Practices

15.Conclusion

Read Our Related Report

Plastic Caps & Closures Market

Aluminium Caps & Closures Market 

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SNS Insider
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