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. Factors such as the need for convenience and better operability act as important drivers for plastic caps & closures. A plastic cap plays a key role in safeguarding the product from dust and other microbes. Plastic caps & closures are cost-effective as compared to metal caps & closures. Consumers are on the lookout for closures that are user-friendly, easy to open, and convenient to use.
The rising popularity of dispensing closures and pump closures in various product groups such as body care, skincare, beverages, and liquid food products is likely to spur the growth of the plastic caps & closures market, globally. The health and wellness trend is now shifting toward preventive healthcare, propelling the demand for FMCG products that target improved lifestyles. Plastic caps & closures that prevent contamination, tampering, and counterfeiting are becoming increasingly important to reassure consumers about the safety and authenticity of the products that they are buying.
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Recent Developments
- In July 2019, Berry Global Group acquired RPC Group for approximately USD 6.5 billion. This acquisition helped create a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies. Also, the company has broadened its global footprint consisting of over 290 locations worldwide, including in North and South America, Europe, Asia, Africa, and Australia.
- In June 2019, Amcor acquired Bemis Company Inc. The combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis has brought additional scale, capabilities, and footprint that has strengthened Amcor’s industry-leading value proposition and generate significant value for shareholders.
Berry Group (US), Crown Holding (US), AptarGroup (US), Amcor (Australia), BERICAP (Germany), Coral Products (UK), Silgan Holdings (US), O.Berk Company, LLC (US), Guala Closures (Italy), United Caps (Luxembourg), Caps & Closures Pty Ltd. (Australia), Caprite Australia Pty Ltd. (Australia), Pano Cap (Canada) Limited (Canada), Plastic Closures Ltd. (UK), Cap & Seal Pvt. Ltd. (India), Phoenix Closures (US), Alupac India (India), Hicap Closures (China), MJS Packaging (US), J.L. Clark (US), TriMas (US), and Comar, LLC (US) are some of the players operating in the global plastic caps & closures market.
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