Bottle Closures Market expected to grow at 5.22% CAGR by forecast 2023

Summary

Bottle Closures Market Statistics, 5.22% CAGR, Research Report and Industry Forecast 2023 | Global Plastic Caps and Closures Industry By Type (Screw Caps, Dispensing Caps, and Closures), By Material (Polypropylene, Polyethylene and Polystyrene), By End-User (Food & beverages, Pharmaceutical and Personal Care), By Region – Forecast to 2023

Bottle Closures Market Overview

The global Bottle Closures Market is expected to exhibit a strong 5.22% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global Bottle Closures Market is mainly driven by the growing demand for plastics in the global packaging industry, but held back by the increasing awareness about the adverse effects of plastic waste on the environment.

The global Bottle Closures Market is mainly driven by the growing demand for consumer products such as packaged food and beverages (especially beverages), pharmaceuticals, and personal care products. These products are often sold in plastic bottles or small plastic containers and use a plastic cap or closure to seal the product from environmental contamination. The strong temperature resistance and weather resistance of plastics makes them the perfect material for use in bottles and corresponding caps and closures. This has been the major driver for the global Bottle Closures Market, as other materials, such as metals and glass, are much more expensive to manufacture and shape into the desired shape. The easy moldability of plastics is also a major driver for the global Bottle Closures Market, as a large variety of containers can easily be fitted with plastic caps and closures.

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Competitive Analysis

Leading players in the global Bottle Closures Market include

Guala Closures Group

J.L. Clark

Phoenix Closures Inc.

TriMas

Alcoa Corporation

AptarGroup

Comar LLC

Global Closure Systems

Silgan Holdings Inc

Amcor Limited

Recycling efforts are likely to be crucial in the Bottle Closures Market over the forecast period, as several governments around the world are coming down hard on the excessive discarding of plastic waste. In fall 2018, students of Concord Intermediate School near Elkhart, Indiana started a project to collect discarded plastic caps and turn them into benches for the school’s playground. Deliveries of the recycled benches began in mid-2019. Community projects such as this could provide a direction for the global Bottle Closures Market in the coming years.

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Plastic Caps and Closures Market Segmentation

The global Bottle Closures Market is segmented on the basis of type, material, end use, and region.

By type, the global Bottle Closures Market is segmented into screw caps, dispensing caps, and closures. The screw caps segment is likely to dominate the global Bottle Closures Market over the forecast period due to the widespread use of screw plastic caps.

By material, the market is segmented into polypropylene, polyethylene, and polystyrene. The polypropylene segment is likely to play a key role in the development of the Bottle Closures Market over the forecast period due to its growing demand.

By end use, the global Bottle Closures Market is segmented into personal care, pharmaceuticals, food and beverages, and others. The food and beverage industry is expected to be the major end user in the global Bottle Closures Market over the forecast period due to the growing demand for bottled beverages.

Regional Analysis

The Americas segment dominates the global Bottle Closures Market and is likely to retain the lead over the forecast period due to the growing demand for bottled beverages, personal care products, and healthcare products in the U.S. and Canada.

Europe is also a leading regional market for plastic caps and closures, due to the growing demand for bottled healthcare and personal care products.

Asia Pacific is expected to exhibit rapid growth in the global Bottle Closures Market over the forecast period due to the growing fast food industry in the region and the growing demand for bottled beverages of various kinds.

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