Posted By Uma Rajagopal
Posted on November 3, 2021
The global demand for plastics caps & closures is expected to soar during the forecast period of 2021 and 2025, predicts Fairfield Market Research. The boom in the market will be a result of changing packaging designs in the cosmetics, pharmaceutical, and food and beverage industries. The use of caps and closures allows easy handling of the product during transport and while in use. This means the product can remain intact for a longer period. The growing preference for bottles and cans instead of packets has created a wider demand for polyethylene terephthalate (PET) and high-density polyethylene (HDPE) polymers.
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Dispensing and Pump Closures Gain Popularity
Convenience is a large part of the packaging. Driven by this trend, the demand for closure for dispensers and pumps is expected to spike in the coming years. A skyrocketing usage of sanitisers has created a huge demand for pump closures since the outbreak of COVID-19. Its user-friendliness has won the design a huge consumer base. The demand for dispensing and pump closures will also be seen in the FMCG sector. Several cosmetic companies are using the pump and dispensing closures to prevent contamination of product, usage of an equal amount of product with each press, and avoid counterfeiting and tampering.
Tubes and Bottles Used by Pharmaceutical Industry Hold Promise
The pharmaceutical industry is expected to be the key end user of plastics caps & closures as the demand for tubes and bottles is slated to rise between 2021 and 2025. The growing healthcare demand has accelerated the use of plastic for packaging a wide range of medical products. Furthermore, the uptake of plastic is expected to remain significant as it is light in weight, easier to handle, and affordable. Furthermore, plastics caps & closures do not rust, which makes them ideal for preventing contamination.
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Asia Pacific to be Highest Consumer of Plastic Caps & Closures
Geographically, the sheer population volume of Asia Pacific is expected to be the key driver for the regional plastics caps & closures market between the forecast years of 2021 and 2025. The indispensable nature of plastic closures in a wide range of industries from cosmetics to chemicals has pushed their sales in packaging. Increasing use of bottles for packaging water, cosmetics, and medicines are expected to drive up the demand in the next five years. Analysts anticipate that the global plastic bottles and containers market is likely to be worth US$200 Bn by 2025, showing signs that it will fuel the need for plastics caps and closures. Increasing sales of packaged drinks are also expected to be an important factor for the regional market.
Some of the key players defining the competitive landscape in the global plastic caps & closures market are Crown Holding, Berry Group, BERICAP, Amcor, Coral Products, AptarGroup, Silgan Holdings, O. Berk Company, LLC, United Caps, and Guala Closures. Players are expected to focus on mergers and acquisitions during the forecast period to expand their geographic footprint. For instance, in 2019, Berry Group acquired RPC Group, which will allow it to increase its presence to 290 locations across the globe.
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