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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Demand for cosmetics from the youth population is expected to drive the market for cosmetic packaging

 

The global cosmetic packaging market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a CAGR of 4.03% from 2020 to 2025. The market is projected to grow in accordance with the growth of the cosmetic industry across the globe. The growth of this market is attributed to the change in the style of packaging, innovative & premium package designs, and boost in the demand for cosmetics due to the rising youth population.

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Skin care is estimated to be the largest segment in the cosmetic packaging market

Skin care, by application, accounted for the largest demand for cosmetic packaging in 2019, in terms of value and volume. This dominant market position is attributed to the boost in the demand for new and innovative skin care ranges such as face creams, anti-aging creams, sunscreens, and others. With the boost in the demand for personal grooming products, the demand for its packaging product has also gone up, which has created an opportunity for the growth of the skin care segment in the cosmetic packaging market.

Bottles are estimated to lead the cosmetic packaging market

Bottles, by type, accounted for the largest market share among all the types of cosmetic packaging because of the increase in demand for bottles from the personal care and hair care manufacturers. Bottles can be customized according to the requirements of the customers and maybe printed with unique ideas & patterns. The bottles are an ideal choice for most of the cosmetic products such as lotions, body wash, shampoos, conditioners, and many more.

The Asia Pacific region accounted for the largest market share in 2019. The increase in demand in the region for cosmetic packaging can be largely attributed to the growing population, urbanization & disposable income of the population. Besides, there are less stringent norms and standards for the use of raw materials or ingredients for the manufacturing of packaging products, along with the easy availability of cheap labor, which is attracting the major players to expand their operations in the region. Furthermore, the increase in demand for cosmetics from the emerging economies of Asia Pacific is expected to boost the market for cosmetic packaging as well.

Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Albea SA (France), and DS Smith PLC (UK) are the key players operating in the cosmetic packaging market. Expansions, acquisitions, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the cosmetic packaging market.

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Asia-Pacific to play a key role in the inventory tags market

The inventory tags market size is expected to grow from USD 4.08 Billion in 2016 to reach USD 5.07 Billion by 2021, at an estimated CAGR of 4.43%. The implementation of inventory tags technologies is an important strategy taken up by many manufacturing companies and regulatory bodies in recent years. Increasing awareness toward protection against theft, loss, and counterfeiting; scope for technology integration; identification of products without human intervention or need of line-of-sight; and adoptions of real time tracking systems are some of the factors that contribute to the growth in the demand for inventory tags in packaging. Additionally, strict laws pertaining to counterfeiting activities, need for efficient use of supply chain, and availability of cost-efficient counterfeiting technologies have propelled packaging companies to opt for inventory tags technologies, which enabled cost savings. Developing markets such as China, Brazil, and India are emerging as growth frontiers for the inventory tags market.

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Factors such as strong government support, efforts towards standardization, expanding application segments, convergence of technologies, rising awareness of using inventory tracking technologies, increasing urbanized population in China and India along with the growth in the disposable income in these countries are driving the growth of the Asia-Pacific inventory tags market. Rapid industrialization and imposition of strict laws pertaining to secure packaging are also major factors contributing to the growth of the inventory tags market.

Track & trace and authentication technologies such as barcodes and RFID are some of the technologies used by companies to track their inventory. Barcode technologies are the most conventional and prominent technologies used in the inventory tags market. This segment dominated the inventory tags market in 2015, and this trend is projected to continue through 2021. In current economic conditions, retailers and manufacturers recognize that additional investments in loss prevention is necessary to combat the increasing level of inventory loss due to theft and counterfeiting. Logistics & transportation companies also benefit by using track & trace technologies as they can locate the package at any point during the delivery process. Track & trace technologies such as RFIDs and barcodes help in identifying the product as well as help in tracing the product across the supply chain.

RFID technologies include readers, and software services and are used extensively in the packaging industry. With the help of readers, products can be traced in seconds; this helps to improve and track the supply chain process from production through distribution and retailing. The RFID technology segment is growing tremendously and is opted for by many industries as it reduces manual costs and improves visibility and planning.

Zebra Technologies Corporation (U.S.) has maintained its leadership position through its strong distribution network across Asia Pacific, Europe, and the Americas. Zebra Technologies Corporation has strengthened its position as a leading provider of visibility solutions across the world. The company has adopted mergers and acquisitions as its key strategies to capture the market. In October 2014, Zebra Technologies Corporation acquired the enterprise business of Motorola Solutions, Inc. (U.S.) which strengthened Zebra’s product portfolio, geographic reach, go-to-market channels, and industries served. The company plans to enter into new and emerging markets given its stable financial position and a strong customer base.

Key Findings in the Global Smart Labels Market

The report “Smart Labels Market by Technology (EAS, RFID, Sensing, ESL, NFC tags), Components (Batteries, Transceivers, Microprocessors, Others), Application (Retail Inventory, Perishable Goods, Electronic & IT asset, Others), End-use Industry – Forecast to 2021″, The market for smart labels is projected to grow from USD 4.45 Billion in 2016 to USD 10.03 Billion by 2021, at an estimated CAGR of 17.65%. The market for smart labels is growing due to increasing demand in industries such as retail, healthcare, FMCG, packaging, construction, and automotive. Along with the same, the need for automated and streamlined operations in the enterprises has fostered the market for smart labels.

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Smart labels market is segmented on the basis of application into electronics & IT asset, equipment, retail & inventory tracking, pallets, perishable goods, and others. In 2015, the retail & inventory tracking segment accounted for the largest share of the application segment. The perishable goods segment is projected to grow at a highest CAGR during the forecast period. Changes in temperature, oxygen, carbon dioxide, and other environmental factors could degrade the quality of the perishable goods; therefore, smart labels, especially sensing labels, are preferred heavily in the food & beverages and healthcare industries.

RFID labels are highly preferred to maintain the synchronized supply chain management and inventory management systems in the organization. Due to the traceability property of RFID labels, they are used in a variety of end-use industries such as automotive, retail, healthcare, manufacturing, and FMCG. Combined with an asset tracking software program, RFID labels are the foundation for a synchronize process of repairs, maintenance, and inventory control for enterprises. In addition, RFID labels are very crucial label types when it comes to maintaining the true authenticity of products.

On the basis of key regions, the market for smart labels is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The low labor costs, excellent industrialization, a huge scope for FDI, emerging economic conditions, and an excellent hold on industries such as automotive, retail, manufacturing, construction, and healthcare have played a key role in the growth of the market for smart labels in the Asia-Pacific region.

The global smart labels ecosystem comprises of smart labels manufacturers, vendors, and service providers such as CCL Industries, Inc. (Canada), Checkpoint Systems, Inc. (U.S.) (U.S.), Avery Dennison Corporation (U.S.), Sato Holdings Corporation (Japan), Smartrac N.V. (The Netherlands), and Zebra Technologies (U.S.). Others include companies such as Thin Film Electronics ASA (Norway), ASK S.A. (France), Graphic Label, Inc. (U.S.), and Muhlbauer Holding Ag & Co. Kgaa. (Germany).

The scope of the report covers detailed information regarding the major factors influencing the growth of the market for smart labels such as drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, agreements, and recent developments associated with the market for smart labels.

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