US Caps and Closures Market Analysis for Non carbonated Beverages, By Cap Type (Screw Caps, Snap-on Caps, Push-on Caps), By Application (Bottled water, Fruit beverages, Ready to drink (tea & coffee), Sports beverages, Others (energy drinks, non-dairy milk, etc.)), By Material Type (Plastic (PP (Polypropylene), LDPE (Low-density Polyethylene), PS (Polystyrene), HDPE (High-density Polyethylene), PVC (Polyvinyl Chloride), PET (Polyethylene Terephthalate)), Metal) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, crown cap, snap on, friction fit, tamper evident, and dispersing. Caps and closures find a broad range of application in numerous industries such as beverages, cosmetics, chemicals, and pharmaceuticals. The material used to manufacture caps and closures must possess excellent balance of stiffness and toughness along with good chemical resistance. Generally, caps and closures of lightweight and high toughness are preferred in the market.
Significant demand for product safety, rising demand from end-use industries, product differentiation, and a large product scope are the major drivers for caps and closures market. Rising implementation of stringent environmental regulations and availability of substitutes in the market are projected to be the factors hindering market growth.
The market of U.S. caps & closures market for non-carbonated beverages is witnessing continuous consolidation owing to the several major players are acquiring smaller ones in order to expand their market presence. For instance, in March 2016, Global Closure Systems was acquired by RPC Group Plc., (a plastic products design and engineering company) for US$ 714.6 Mn. Thus, a growing merger and acquisition in the market are expected to accelerate market growth.
Players operating in the U.S. caps & closures market are focusing on various strategies such as partnerships & collaboration in order to expand their product portfolio. For instance, in August 2019, AptarGroup, Inc. entered in to a partnership with Nippon Closures Co., Ltd (manufacturer of bottle closures based in Japan). Under the partnership the companies will cross-license their technologies for producing tethered beverage closures. The partnership will help AptarGroup to expand its product portfolio of dispensing closures.
The market of caps and closure market is facing competition from closure-less packaging along with the development of flexible packaging is expected to curb the growth of U.S. caps & closures market for non-carbonated beverages. According to the flexible packaging association, “as of June 2015, the flexible packaging market in the U.S. was the second leading packaging segment and represented a share of 19% in the total packaging market valued at US$ 164 Bn..
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