Future Market Insights
Caps & Closures play a vital role in sealing of containers such as bottles, tubes, stand-up pouches and beverage cartons. They clasp containers and avert them from leaking internal materials, which in turn has become an integral component of packaging. They not only provide attractive appearance, but also forms a brand diversification factor for a product. It enhances the life of the product and also preserves them. Food & Beverage industries relies on caps and closures to induce customers, preserve their product and also drive sales by providing unique features. Increasing demand for quality and safe products coupled with rising consumer demand for beverage products such as beer and bottled water are the major reasons for growing demand for food & beverage industries. Sports caps & closures are the perfect solution for plastic bottles in the beverage industry. These caps have anti-tampering capabilities and child resistant features, which are driving the growth in the sport caps & closures market. They are mostly made of plastic materials, which are resealable, and thus ideal solution for sport drinks, water bottles, juices and other carbonated and non-carbonated beverages.
Sport Caps & Closures: Dynamics
The ongoing trend by end-users to accustom new configurations and versions of caps & closures to their containers stimulates the demand in the sport caps & closures market. Demand for sport caps & closures is anticipated to grow at around 4% over the forecast period. This growth is expected to be further fuelled by a shift in the product mix towards high technology type closures, such as tamper- evident closures and child resistant closures. Changing lifestyle, urbanisation, growing disposable income, health consciousness among customers are some of the factors that are accelerating the growth in the sports caps & closures market. However,stringent government regulations over usage of plastics may hinder the growth of sport caps and closures in the near future.
Sport Caps & Closures Market: Segmentation
On the basis of materials, the global sport caps & closures market is segmented into,
On the basis of product type, the global caps & closures is segmented into,
On the basis of end-use industry, the global sport caps & closures market is segmented into,
Sport Caps & Closures: Region Wise Outlook
On the basis of geography, the global sport caps & closures market is segmented into five regions which includes North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific region is anticipated to witness the maximum market growth opportunities, registering a CAGR of around 5% over the forecast period. The developing economies like India and China are expected to drive the growth in Asia Pacific. Growing packaging industry, changing demographics, growing retail industry are some of the factors that are fuelling the growth in the developing economies of Asia Pacific. In addition, increasing investments by prominent caps & closures manufacturers in Asia Pacific has also been a recent trend in the sport caps & closures market and is expected to continue over the forecast period. In Europe region, Germany is anticipated to be the most lucrative market, witnessing high growth rate during the forecast period. North America is anticipated to experience an above average growth in the sport caps & closures market, while MEA is expected to witness a moderate growth in the sport caps & closures market over the forecast period.
Sport Caps & Closures: Key Players
Some of the key players of the global sport caps & closures market are EuroPlast Ltd., Global Closure Systems, AptarGroup, Inc., Nampak, UNITED CAPS LUXEMBOURG S.A., BERICAP, Viscose Closures Ltd., Carrick Packaging, SILGAN CLOSURES and many more.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments such as application, material, printing technology and geographies.