Caps and Closures Market in North America 2016-2020
About Caps and Closures
Caps and closures are essential elements in the overall packaging of products, enhancing both the aesthetics and functionality of the products. They protect packaged products such as food and beverages from spoilage, dust, pollutants, and evaporation. They keep the contents fresh and make handling convenient. Today, caps and closures are also used for product differentiation and brand building. They are generally made of metal, plastic, rubber, or combinations of these materials. Some types of caps and closures are threaded caps, hinged caps, roll-on closures, twist-off closures, stoppers, corks, dispensing closures, lug caps, canning lids, and wine and spirit closures.
Technavio’s analysts forecast the caps and closures market in North America to grow at a CAGR of 4.49% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the caps and closures market in North America for 2016-2020. To calculate the market size, the report considers the revenue generated by caps and closures vendors in North America.
The market is divided into the following segments based on end-user:
Technavio Announces the Publication of its Research Report – Caps and Closures Market in North America 2016-2020
Technavio recognizes the following companies as the key players in the caps and closures market in North America: Amcor, Bericap, Berry Plastics, and Crown Holdings.
Other Prominent Vendors in the market are: Albéa, Alpla Werke, Aptar, Borealis, Global Closure Systems, Guala Closures, Meadwestvaco, Pelliconi, Rexam, Reynolds, Rieke Packaging Systems, RPC, and Silgan Holdings.
Commenting on the report, an analyst from Technavio’s team said: “Globally, the US is the largest wine consuming country, having held a share of 13% of the wine market in 2015. Consequently, the US also accounts for the largest share of the wine caps and closures market. A key trend for market growth that can be seen in this market is the growing preference for synthetic corks and screw caps over natural corks. In 2015, natural cork accounted for a share of 68% of the wine closures market, which is much less than its share of 92% in 2005, while screw caps accounted for around 15% of the wine closures market in 2015. The main reason behind the decline in the market share of natural cork is the high taint rate of wine bottles with natural corks and the advent of synthetic corks and screw caps that act as perfect substitutes for natural corks. It is estimated that 2%-6% of wine bottles using natural corks get tainted, while synthetic corks and screw caps have negligible taint rates and are cheaper. As a result, the use of screw caps in the wine industry is expected to grow at a rate of above 10% in North America during the forecast period.”
According to the report, demand for child-resistant and tamper-evident caps and closures will be the key driver as these features are turning out to be basic requirements in the caps and closure market. People consider these features before buying because of safety and convenience.
Further, the report states that packaging products without caps and closures have few advantages such as consumer convenience, less cost, and low weight. The demand for such packaging is expected to increase further during the forecast period, thus hindering demand for caps and closures. This factor will be a challenge for the market. The volume of stand-up pouches is expected to reach 26 billion units in the US by 2020.
Amcor, Bericap, Berry Plastics, Crown Holdings, Albéa, Alpla Werke, Aptar, Borealis, Global Closure Systems, Guala Closures, Meadwestvaco, Pelliconi, Rexam, Reynolds, Rieke Packaging Systems, RPC, Silgan Holdings.