NEW YORK, July 18, 2016 /PRNewswire/ -- "Increasing demand by the beverages industry to drive the caps & closures market"
The caps & closures market size is estimated to grow from USD 49.78 billion in 2015 to USD 68.71 billion by 2021, at a CAGR of 5.62%. The caps & closures market is driven by factors such as rising demand from end-use industries such as healthcare, food, and beverage as well as rising concerns toward quality and safety of the product.
"Plastic to gain maximum growth during the forecast period"
Plastic as a raw material is projected to be the fastest-growing segment in the next five years. Plastic caps & closures are made from a wide range of polymers such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). Plastic caps & closures can be easily formed, are of high quality, are cost-effective, and provide excellent barrier properties and the freedom of design; hence, they are preferred for sealing products.
"Asia-Pacific region is set to witness healthy growth during the forecast period"
The Asia-Pacific market is projected to be the fastest-growing market during the forecast period. It is also projected to have the largest market share due to increasing commercialization and increased demand for packaged goods in the region. The markets of China and India are projected to be lucrative due to their rising middle-class population and rising consumer spending on packaged products.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the caps & closures market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as packaging manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1 –35%, Tier 2 – 30%, Tier 3 – 35%
By Designation: C-level – 65%, Manager level – 35%
By Region: North America – 33%, Europe – 30%, Asia-Pacific – 20%, RoW – 20%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2013.
Tier 1: Revenue > USD 10 billion; Tier 2: USD 1 billion > Revenue > USD 10 billion; Tier 3: Revenue < USD 1 billion
The various key caps & closures providers profiled in the report are as follows:
1. RPC Group PLC (U.K.)
2. Crown Holdings Incorporation (U.S.)
3. Amcor Limited Plc (Australia)
4. Rexam PLC (U.K.)
5. Berry Plastics Corporation (U.S.)
6. Silgan Holdings Inc. (U.S.)
7. AptarGroup Incorporated (U.S.)
8. Guala Closures Group (Italy)
9. BERICAP GmbH Co. & KG (Germany)
10. Reynolds Group Holdings Limited (New Zealand)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the caps & closures market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes the competitor ecosystem, new product developments, agreements, partnerships and joint ventures, and mergers & acquisitions.
Read the full report: http://www.reportlinker.com/p03984705-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/caps--closures-market-by-type-metal-caps--closures-other-caps--closures-raw-material-end-use-industry---global-forecast-to-2021-300300151.html