DUBLIN--(BUSINESS WIRE)--The "Global Caps & Closures by Region, Product and Market, 9th Edition" report has been added to ResearchAndMarkets.com's offering.
This study presents historical demand data (2006, 2011 and 2021) and forecasts for 2021 by region, product (plastic, metal, rubber, and cork), and market (beverages, food, pharmaceuticals, and other).
The study also evaluates company market share and provides analysis on industry competitors, including:
- Berry Global
- Closure Systems International (Reynolds Group)
- Corticeira Amorim
- Global Closures Systems (RPC Group)
- Guala Closures
Advanced Products Drive Growth in Specialty Films Market
Value gains will be driven by growing consumer preference for closures that offer convenience and ease-of-use advantages, as well as product safety features. The Asia/Pacific (despite significant deceleration in China) and Africa/Mideast regions will offer the fastest growth opportunities, while most developed markets will present more modest gains.
However, advances through 2021 will generally decelerate from those of the 2011-2016 period, although growth in Eastern Europe will pick up. Bottled water will be the largest and fastest growing of the major applications for closures.
Plastic Caps and Closures Will Increase Their Already-Large Share of Demand
Plastic caps and closures will gain share primarily due to the shift in container mix generally favoring plastic over metal and glass. Plastic containers and closures offer a number of advantages, including lighter weight, reduced losses due to breakage, and a wider range of design options.
The declines of metal and glass are not universal, however. Metal closures retain a dominant share of the beer market in most regions, and metal screwcaps continue to grow in the wine market.
Bottled Water Leads Growth in Most Markets
Bottled water has become the leading closures market in unit terms. In developed markets, bottled water is viewed as a convenient on-the-go beverage option, and a healthier alternative to soft drinks and other more caloric beverage choices. In some developing areas, bottled water demand has been driven by substandard local water supplies, as well as rising personal incomes that have made bottled water a more accessible convenience.
Pharmaceutical Applications to Register Robust Growth
Gains in the pharmaceutical market will be driven by sustained growth in pharmaceutical output, as well as from ongoing efforts by drug makers to remain in compliance with government regulations and industry standards involving the child-resistant, senior-friendly, and security features of packaging systems. Growth in value terms will also benefit from increased use of high value-added dispensing and other functional closures that aid in the administration of oral liquid, topical, and other selected medicines.
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