Caps and Closures Market to reach USD 119.4 Billion by 2032, Says Global Market Insights inc.
Caps and Closures Industry size is expected to register 5.8% CAGR between 2023 and 2032 propelled by development of the packaging industry.
Selbyville, Delaware , June 12, 2024 (GLOBE NEWSWIRE) — Caps and Closures Market size will be worth USD 119.4 billion by 2032, as per a
Europe to witness positive market transformation
Europe caps and closures market will expand at a decent pace through 2032, driven by robust packaging regulations, technological advancements, and evolving consumer preferences. The region’s thriving food and beverage industry, coupled with a strong emphasis on sustainability, fosters the adoption of innovative caps and closure solutions. Moreover, increasing investments in R&D activities contribute to continuous innovation and product differentiation within the European market. With a focus on eco-friendly packaging solutions and stringent quality standards, the region remains at the forefront of shaping the future landscape of the market.
Caps and Closures Market Players
Major companies in the market include Amcor plc, Crown Holdings Inc., Silgan Holdings Inc., AptarGroup Inc., Reynolds Group Holdings Limited, Closure Systems International, Inc., BERICAP Holding GmbH, Guala Closures Group, Pelliconi & C. SpA. Their key growth strategies include product innovation, expansion of product portfolios, strategic partnerships and collaborations, geographic expansions, and mergers and acquisitions.
By continuously investing in R&D, companies aim to develop innovative caps and closure solutions that meet evolving consumer demands, particularly in terms of convenience, safety, and sustainability. Strategic collaborations with packaging manufacturers and end-use industries enable companies to expand their customer base and offer comprehensive packaging solutions. Geographic expansions into emerging markets allow companies to tap into new opportunities and cater to the growing demand for caps and closures globally.
Citing an instance, in 2023, PolyCycle Innovation LLC (PolyCycle Innovation) introduced PolyCycle®, a post-consumer recycled (PCR) resin derived from recycled plastics, sourced from North American recycling organizations. This proprietary technology allows the production of PCR resin suitable for use in food and beverage closures.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]
