In 2015, the global caps & closures market size accounted for $39,200 million, and is estimated to grow at a CAGR of 5.3% to reach $59,057 million by 2022. Caps and closures for food and beverages market hold a substantial scope for growth globally. The market, is in its growth stage; however, its contribution to the global market would increase significantly within the next six years. Unstable price of raw material is a major limitation of the caps and closures market for food & beverages. However, due to increase in the consumption of packaged foods & beverages, this market is expected to rise in the subsequent year. Moreover, ready to eat food & beverages gain popularity in the present days and are expected have huge demand potential in coming future. The market of caps and closures for foods & beverages is expected to register an appreciable growth in the Asia-Pacific region and in emerging nation such as India and China.
The significant factor that drives the growth in demand for packaging industry, eco-friendly caps and closures, increase in demand for plastic caps and closures are the factors, which create opportunity for the market growth. However, unstable price of raw materials is a factor that poses limitation in the market. Moreover, each factor has a distinct impact on the caps and closures market analysis for the forecast period.
Caps and closures in food & beverage market is segmented on the basis of product type namely food caps and closures and beverages caps and closures. On the basis of application is segmented into alcoholic beverages and non-alcoholic beverages.
Based on geography, the global caps and closures in food & beverage market is segmented as North America (U.S., Mexico, and Canada), Europe (U.K., Russia, Germany, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Taiwan, and Rest of Asia Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players in the global caps and closures in food & beverage market are,
KEY MARKET SEGMENTS
BY PRODUCT TYPE
Other players active in the value chain include
*Above players are not profiled in the report, can be added as per client interest
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