Significant Opportunities In The Plastic Caps and Closures Market

Plastic caps & closures are used to seal contents within containers, safeguard the packaged product, and to extend the shelf life of the product. The cost-effectiveness, low weight, and compatibility of plastic caps & closures play a crucial role in the growth of the overall market. The plastic caps & closures find their application in various end-use sectors, such as beverage, pharmaceutical, food, and personal & home care, among others. Increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are major factors driving the plastic caps & closures market.

The global plastic caps and closures market size is projected to grow from USD 44.3 billion in 2020 to USD 57.0 billion by 2025, at a CAGR of 5.2% between 2020 and 2025.

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Developing countries such as China, India, and Brazil are poised to witness high demand for plastic caps & closures in the next few years. The growth is driven mainly by favorable demographics and a rise in household incomes. Convenience and hygiene are becoming highly valued attributes as packaged food products take up a growing share of the consumer’s expenditure due to changing lifestyles.

Other emerging economies, such as Mexico, Turkey, South Africa, and Indonesia, are promising markets for plastic caps & closures owing to the growth of the FMCG sector in these countries. Cap manufacturers are adopting aggressive growth strategies in these countries by diversifying their product offerings and strengthening their distribution base.

Pharmaceutical to be a promising end-use industry of the plastic caps & closures market.

It is very important to maintain the quality of pharmaceutical products during the manufacturing process. Pharmaceutical products can be contaminated through air particles, dust, and microorganisms. To avoid contamination, plastic caps & closures are used to seal the medicines in the pharmaceutical industry. The packaging of healthcare products is of utmost importance to protect the contents from air, dust, and moisture. An increase in chronic ailments, an increase in the aging population, and a rise in disposable income in developing nations drive the demand for healthcare products, thereby driving the need for plastic caps & closures.

The screw-on caps segment is projected to be the fastest-growing product type in the market during the forecast period.

A plastic screw closure is a well-engineered product that is screwed on and off on a container. These closures contain either continuous threads or lugs. It must be engineered and designed to be cost-effective, compatible with contents, easy to open; provide an effective seal; and should comply with the product, package, and environmental laws and regulations. In the beverages industry, plastic caps & closures are tamper-resistant, which further helps tackle the issues of counterfeiting. A tamper-evident band is a common tamper warning for screw caps of bottles.

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Increasing Sustainable Packaging Trend are Expected to Support Bag-In-Box Market

 

The global bag-in-box market size is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 3.8% from 2019 to 2024. The growth of this market is attributed to the need for innovative and sustainable packaging as well as the increase in the consumption of alcoholic beverages in developing and developed economies. Other factors driving the market include ease of handling and transportation of bag-in-box packaging, which has resulted in its use in e-commerce retail with the benefits of enhanced protection, leading to extended shelf life of the product.

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In Terms of Value and Volume, the 5–10 Liters Segment Is Projected to Lead the Bag-In-Box Market

Based on capacity, the 5–10 liters segment is projected to be a faster-growing market during the forecast period. The use of 5–10-liter bag-in-boxes in dispensing systems by beverage manufacturers, foodservice operators, and quick-serve restaurants has contributed to the significant growth of this segment. On the other hand, the < 1 liter segment is expected to grow at the highest CAGR during the forecast period, due to the increasing use of these bag-in-boxes for packaging wines and juices for consumer use.

The beverages segment is estimated to be a largest end-use market in the bag-in-box market in 2019.

The beverages segment, by end-use sector, accounted for a larger market size for bag-in-box in 2018, in terms of both value and volume. This dominant market position is attributed to the exponential growth of wine production in developed countries globally. With the boost in wine production, the prefered sustainable packaging for wine consumption has also gone up, which has created an opportunity for the of bag-in-box systems in these market.

The European region is projected to account for the largest share in the bag-in-box market

The European region is projected to lead the bag-in-box market, in terms of both value and volume, from 2019 to 2024. The growing demand for box wine is fragmented in Europe, which helps to engage with big players in the global market, providing cost advantages and introduction of innovative products in the market. The market also has a good mix of regional players, which eliminates any risk of supply shortage.Wine packaging is the primary driver for bag-in-box packaging within Europe.

Smurfit Kappa (Ireland), DS Smith PLC (UK), Liqui-box corp (US), Scholle IPN Corp(US), and CDF Corporation Inc. (US) are the key players operating in the bag-in-box market. Acquisitions and new product developments are some of the major strategies adopted by these key players to enhance their positions in the bag-in-box market.

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Rising Demand for Convenient and Safe Food Shaping the Future of Fresh Food Packaging Market

With the rise in demand for food that fresh, appealing, and safe to consume, the packaging industry has been trying to improvise from all aspects, ensuring the quality and freshness of food as well as minimizing the impact on environment. The main focus is on dealing with the environmental issues like reduction of waste material and facility to detect any tampering with the package. Thus, the fresh food packaging market is evolving in line with the packaging industry.

Market Drivers and Opportunities

Increasing awareness about global warming and environment-related issues has led to the packaging industry adopting various eco-friendly ways of packaging, thereby increasing the demand for packaged fresh food. The rising demand for good-quality and convenience food and extended shelf-life of fresh food are the primary driving factors for the growth of this market. Apart from these, the increasing population coupled with increasing incomes is also fueling the market growth.

Market at a Glance

The global fresh food packaging market size is estimated to grow from USD 79.9 billion in 2020 to reach USD 94.7 billion by 2025, at a CAGR of 3.5% during the forecast period. The fresh food packaging sector has been growing in tandem with the packaging industry. The increasing population, rising demand for convenience food, and the extended shelf life of packaged food are the main drivers for the fresh food packaging industry.

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The major giants competing in the market for fresh food packaging are

• Amcor Limited (Australia)
• Coveris Holdings S.A (U.S.)
• Smurfit Kappa Group (Ireland)
• E. I. du Pont de Nemours and Company (U.S.)
• Mondi Plc (South Africa)
• Bemis Company, Inc. (U.S.)
• International Paper Company (U.S.)
• D.S. Smith Plc (U.K.)
• Silgan holdings Inc. (U.S.)
• RockTenn Company (U.S.)
• Sealed Air Corporation (U.S.), among others.

These companies are adopting strategies like new product launches, mergers & acquisitions, and expansions in order to maintain a competitive edge in the whole market.

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Research Scope

As per the researchers, the market for fresh food packaging has been analyzed and forecasted on the basis of the following segmentation:
• Package Material: Polyethylene, Polypropylene, Paper, Aluminum, BOPET, Poly-vinyl Chloride, Others (glass, wood, and textiles)
• Pack Type: Flexible Pack, Converted roll stock, Gusseted bags, Flexible paper, Corrugated box, Boxboard, Cans, Others (stand-up pouches & wicketed bags)
• Application: Meat & Meat Products, Vegetables, Seafood, Fruits, Others (dairy and poultry)
• Geography: North America, Europe, Asia-Pacific, RoW

Summary
The fresh food packaging market is primarily driven by the rising demand for convenience but safe food and increased shelf-life of fresh food products.

Demand for packaged food and ready-to-eat meals are expected to drive the market for self-adhesive labels

 

The global self-adhesive labels market size is projected to grow from USD 46.5 billion in 2020 to USD 59.2 billion by 2025, at a compound annual growth rate (CAGR) of 4.9% during the forecast year. The growth is attributed to the change in style of labeling, innovative & sustainable labeling solutions, increasing urban population leading to the increase in demand for home & personal care products, and boost in demand for packaged food and ready-to-eat meals, due to the rising working population.

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A large number of self-adhesive labels are used in the food industry for fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. Increase in demand for convenience and quality food products has led the market for self-adhesive labels.

In terms of volume, the release liner segment led the self-adhesive labels market in 2019

Release liners, by type, accounted for the largest market share in the self-adhesive labels market. Release liner labels are normal self-adhesive labels with an attached liner; they can be made available in different shapes and sizes, as they have the release liner in place to hold labels when they are die-cut. Release liner labels can be easily cut into any shape, whereas linerless labels are restricted to squares and rectangles. However, the market for linerless labels is projected to grow at a steady rate, as is the market for release liner labels. This is because linerles labels are preferred from an environmental point of view as their production generates less wastage and requires less paper consumption.

The APAC region is projected to lead the self-adhesive labels market, in terms of both value and volume from 2020 to 2025. The usage of self-adhesive labels in the region has increased due to cost effectiveness, easy availability of raw materials, and demand for product labeling from highly populated countries such as India and China. The increasing scope of applications of self-adhesive labels in the food & beverage, healthcare, and personal care industries in the region is expected to drive the self-adhesive labels market in APAC. The growing population in these countries presents a huge customer base for FMCG products and food & beverages. Industrialization, growing middle-class population, rising disposable income, changing lifestyles, and rising consumption of packed products are expected to drive the demand for self-adhesive labels during the forecast period.

CCL Industries Inc. (Canada), Avery Dennison Corporation (US), Multi-Color Corporation (US), Coveris Holdings S.A. (Austria), Huhtamaki OYJ (US), and Fuji Seal International (Japan) are the key players operating in the self-adhesive labels market. Expansions & investments, mergers & acquisitions, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the self-adhesive labels market.

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