LONDON, March 7, 2018 /PRNewswire/ -- Global demand for plastic caps and closures will advance due to a worldwide trend favoring plastic food and beverage containers, which usually use plastic closures. Value gains will be driven by growing consumer preference for closures that offer convenience and ease-of-use advantages, as well as safety features. The Asia/Pacific and Africa/Mideast regions will offer the fastest growth opportunities, due to above average increases in food production and processing activity. In developed regions, growth will be more modest for plastic closures, although these products will continue to grow their share of the overall market for caps and closures.
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Key Findings in the Global Plastic Caps & Closures Study
Bottled Water Leads Growth in Most Markets
Bottled water has become the leading plastic 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. Even in developed countries that continue to have low per capita consumption rates for bottled water, growth will usually be faster than average.
In 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. These factors have not only boosted demand for high volume plastic screw caps on single-serve containers, but for dispensing closures and other closures used with larger water containers.
Pharmaceutical Applications to Register Robust Growth
Gains for plastic closures 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 pharmaceutical packaging systems. Value growth will also result from increased use of high value-added dispensing and other functional closures that aid in the administration of oral liquid, topical, and other drugs.
Threaded Closures Lead Due to Dominance of Beverage Markets
Threaded plastic closures will continue to account for a large majority of demand – 67% in 2021. However, the smaller dispensing and child-resistant closure segments will register slightly faster growth, due to trends favoring higher value closures in such applications as over-the-counter pharmaceuticals, health and beauty products, and household cleaning products.
Study Coverage
This industry study presents historical demand data (2006, 2011 and 2016) and forecasts for 2021 by region, product (threaded, unthreaded, dispensing, and child resistant), and market (beverages, food, pharmaceuticals, and other). The study also evaluates company market share and provides analysis on industry competitors including Amcor, AptarGroup, BERICAP, Berry Global, Closure Systems International (Reynolds Group), Global Closures Systems (RPC Group), and Silgan.
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