How Global Plastic Caps And Closures Market Players Should Strategize For 2022-2031

The global plastic caps and closures market size is expected to grow from $39.74 billion in 2021 to $43.71 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The plastic cap and closure market is expected to grow to $55.17 billion in 2026 at a CAGR of 6%.

What is the Global Plastic Caps And Closures Market?

The plastic caps and closures market consists of sales of plastic caps and closure products by entities (organizations, sole traders, or partnerships) that are mainly produced from high-density polyethylene (HDPE) and polypropylene (PP). Plastic caps and closures are the final elements of the packaging process that are used in a variety of applications such as beverage packaging, non-food packaging, and cosmetic packaging.

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What drives the Global Plastic Caps And Closures Market?

An increase in demand for bottled water from consumers across the globe is driving the plastic caps and closures market. The bottled water is sealed with plastic caps and closures to prevent spillage, facilitate easy transportation and extend shelf life. The demand for bottled water is increasing due to the rise in awareness of water contamination and safety concerns. For instance, according to a 2019 study by Water Quality Association in the USA, around 78% of the respondents confirmed that they regularly consume bottled water, averaging 12 bottles daily per household. Moreover, as per the Bottled water statistics, in 2021 the volume of bottled water climbed by 4.2%, compared to 3.7% in 2019. This is expected to continue in the forecast period thus driving the demand for plastic caps and the closures market.

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Global Plastic Caps And Closures Market Segments
The global plastic caps and closures market is segmented:
By Product Type: Screw Caps, Dispensing Caps, Others
By Material: Polypropylene, Polystyrene, Polyethylene, Others
By End-User: Pharmaceutical, Personal Care, Food and Beverages, Others
By Geography: The regions covered in the plastic caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Plastic Caps And Closures Global Market Report 2022 provides market size and growth forecasts for the global plastic caps and closures market, global plastic caps and closures market share, plastic caps and closures market segments and geographies, plastic caps and closures market competitive landscape including leading competitors’ revenues, profiles and market shares. The plastic caps and closures market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Plastic Caps And Closures Industry Players include Berry Global Inc, Guala Closures Group, BERICAP, O.Berk Company, United Caps, Caps & Closures Pty Ltd., Pano Cap Limited, Plastic Closures Ltd., Cap & Seal Pvt. Ltd, and MJS Packaging. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.