The plastic caps and closures market was valued at USD 38.83 Billion in 2017 and projected to reach USD 51.67 Billion by 2023. The market is projected to grow at a CAGR of 4.99% during the forecast period.
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Browse 220 market data Tables and 30 Figures spread through 185 Pages and in-depth TOC on “Plastic Caps and Closures Market”
The plastic caps and closures market is witnessing considerable growth due to increasing demand for convenience packaging and growing concerns about product safety and security in the beverage, food, and pharmaceutical industries. Moreover growing bottled water market where plastic closures are used on a large scale is one of the major factor driving the growth of plastic caps and closures market.
The key players in the plastic caps and closures market include Berry Group (US) Crown Holding (US), AptarGroup (US), Amcor (Australia), Coral Products (UK), Closure Systems International (US), Bericap (Germany), Silgan Holdings (US), RPC Group (UK), and O.Berk Company, LLC (US). Other players include United Caps (Luxembourg), Caps & Closures Pty Ltd (Australia), Caprite Australia Pty. Ltd (Australia), Pano Caps (Canada), Plastic Closures Limited (UK), Cap & Seal Pvt. Ltd (India), Phoenix Closures (US), ALUPAC-INDIA (India), Helicap Closures (China), and MJS Packaging (US). These players adopted strategies such as expansions & investments, agreements & contracts, and strategic alliance, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.
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Crown Holding is one of the largest packaging companies in the world. The company offers a large number of packaging solutions catering to various end-use industries such as food & beverages, pharmaceuticals, powered drinks, and confectionery packaging. It operates in segments such as beverage cans, food cans & closures, and others and offers plastic closures under the food caps & closures segment. The company has adopted organic and inorganic strategies such as expansions & investments, and mergers & acquisitions to expand its global presence. For instance, in February 2018, Crown Food Europe, a subsidiary of Crown Holdings, introduced a new capping solutions package which will help food manufacturers to lower the total cost of ownership. The package includes the sale of its capping technology, ancillary components, and expert technical support for the machine’s service life. Three of Crown’s capping solutions—Smart Capper, Euro Capper, and Global Capper—are available for sale as part of this package.
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