Global Caps and Closures Market to Exceed US$29 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Caps and Closures markets. The global market for caps and closures is projected to surpass US$29 billion by the year 2015, led by the rising demand for closure-intensive plastic packaging, as replacement for closureless containers. Steady economic growth, robust demand for consumer products, and subsequent rise in demand for varied packaging products are fuelling demand for caps and closures in developing markets.

Caps and Closures: A Global Strategic Business Report

Caps and closures have become an integral constituent of packaging, offering convenience, enhancing visual appeal, and facilitating brand diversification. The market continues to evolve led by rising consumer demand for higher protection and freshness standards. Though the recession significantly affected the closures market, as evident by the decline in sales volumes and reduction in demand of bottled beverages, consumers are expected to continue consuming packaged products that involve caps and closures. Owing to adverse economic conditions, manufacturers face additional pressure to lower costs while maintaining the level of innovation in the products. The industry, under the pressure of minimizing costs, is expected to focus on lowering energy and water expenses and ensure provision of competitive products at affordable prices. The recession has also forced manufacturers to put on hold diversification and expansion strategies.

The United States, Europe and Asia-Pacific dominate the global market for caps and closures with over 75% share of value sales, as stated by the new market research report on caps and closures. The move away from metallic caps and closures towards plastic products is presenting new opportunities for designing of innovative caps and closures. A potential area of opportunity lies in the pharmaceutical industry, which continues to rely excessively on glass-based packaging. Global caps and closures market is also expected to benefit from the growing popularity of organized retail formats, wherein products’ shelf appeal forms a critical constituent of overall marketing strategy. Such a trend is likely to shift manufacturer focus on the development of new, innovative, and designer caps and closures, for plastic containers and bottles. The industry, however, is expected to face tough competition from packaging formats such as stand-up pouches and blister packs. Further, growing environmental concerns pertaining to the use of plastic waste is also expected to affect overall demand.

The US continues to hold on to its leading position driven by enhanced demand for high-end, value-added and innovative products. However, other developed regions such as Japan and Europe are expected to grow at a relatively slower pace, due to stagnant population growth and mature conditions. Global market for caps and closures is expected to witness accelerated demand from emerging markets, particularly Asian economies such as China and India. Steady growth in developing markets, trend towards urbanization, and rising consumer income levels in emerging economies, and the subsequent rise in demand for non-durable goods favor growth in sales of closures and other types of packaging materials in these markets.

Plastic caps and closures represents the largest and fastest growing segment in the global caps and closures market and is expected to benefit from the continued substitution of glass and metal containers by plastic packaging, particularly in the food and beverage industry. The market is also expected to gain from the rapid use of plastic/synthetic corks, as against natural corks, in the wine market. The increasing use of closure-based plastic packaging for closureless products such as plastic pouches and drink cartons is a major factor fuelling demand for caps and closures across the world. The sales of metal caps and closures are witnessing slowdown or decline in majority of the developed markets. The decreasing demand for aluminum roll-ons, lug caps and metal screw is likely to restrain the overall unit demand for metal closures. Also, the declining demand from leading winemaking nations is expected to contribute to a fall in demand for smaller rubber and cork closures.

Major players profiled in the report include AptarGroup Inc., Bericap GmbH & Co., Berry Plastics Corporation, Closure Systems International Inc., Crown Holdings Inc., Pelliconi & C. SpA, Phoenix Closures Inc., Portola Packaging Inc., Rexam PLC, Silgan White Cap Americas LLC, Supreme Corq LLC, and Taensa S. A.

The research report titled “Caps and Closures: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for the years 2000 through 2015 by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key products segments analyzed include Plastic, Metal, and Others, while end-use segments analyzed include Beverages, Cosmetics & Toiletries, Food, Household & Automotive Chemicals, Pharmaceuticals, and Others.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Caps_and_Closures_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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