Caps and Closures: A Global Strategic Business Report
San Jose, CA (PRWEB) March 12, 2008
Global market for caps and closures is projected to witness steady growth and reach US$27.1 billion in sales by 2010. 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. Advent of innovative value-added products that offer enhanced convenience and safety, such as dispersers and child resistant varieties, are also expected to drive sales. However, the market for caps and closures is threatened by growing utilization of closureless packaging formats such as stand-up pouches and blister packs. Also, the market faces challenges in the form of escalating prices of raw materials and energy.
The United States represents the largest caps and closures market in the world, with sales estimated at US$6.5 billion in 2007, as stated by Global Industry Analysts, Inc. Asia-Pacific is projected to drive sales (volume and value) in the global caps and closures market in the long run. Growth in developed countries would be driven by increased demand for value added products such as dispensing closure systems and child-resistant closures (CRCs). Higher demand for dispensing closures is expected due to increased convenience offered to the consumer, both in terms of improved control over product release as well as usage.
Growing preference for plastic, as ideal substitutes for traditional cork or metal closures, is expected to result in high demand for plastic caps and closures for packaging applications, particularly in pharmaceutical and soft drink sectors. In Europe, plastic caps and closures market is projected to capture about 48% share of the volume sales by 2010.
Metals segment continues to lose its share to plastics due to the ongoing transition from metal closures to plastic across a broad range of applications. Global metal caps and closures market is estimated to account for over 18.8% share of value share in 2008.
Beverages, the leading end-use sector for caps and closures market, continue to retain dominance driven by strong demand from sub-segments such as bottled water and sports drinks, among others. Household cleaners and cosmetics and toiletries are other segments that are expected to foster the use of packaging products involving closures. Increasing demand for child-resistant, tamper-evident and dispensing closures is expected to drive sales in the worldwide pharmaceutical closures market.
Key participants in the global caps and closures market include Alcoa Closure Systems International, Inc., Amcor Limited¸ AptarGroup, Berry Plastics Corporation, Bericap GmbH & Co., Crown Holdings, Kerr Group, Pelliconi & C. SpA, Portola Packaging, Phoenix Closures, Rexam PLC, Silgan White Cap Americas, and Supreme Corq, LLC.
The report titled "Caps and Closures: A Global Strategic Business Report" published by Global Industry Analysts, Inc., presents comprehensive analyses of the global caps and closures market with incisive insights into trends, business opportunities, and challenges. The report provides analyzes caps and closures market by both product and end-use segments, and in value and unit terms. The study analyzes recent past, current and future market data and analytics over the period 2001-2010, historical data (1991-2000) and long term projections (2011-2015) for regions including the United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World.
For more details about this 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 more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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