The global caps and closures market size is expected to be worth around US$ 148,699.6 million by 2030, according to a new report by Vision Research Reports.
The global caps and closures market size was valued at US$ 89,042.2 million in 2020 and is anticipated to grow at a CAGR of 6.0% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 148,699.6 million by 2030 |
| Growth Rate | CAGR of 6.0% From 2021 to 2030 |
| Base Year | 2021 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Material, Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Crown; Amcor plc; Closure Systems International; Ball Corp.; Silgan Holding, Inc.; Berry Global, Inc.; AptarGroup, Inc.; BERICAP; Nippon Closures Co. Ltd.; Sonoco Products Company |
Growth Factors
The market is projected to be driven by the growth in the food & beverage industry across the globe, contributing to an increased usage of packaging products.
Rising coutterfeiting activities in the alcoholic beverages market are likely to boost demand for anti-tamper or tamper-evident closure. For instance, Everledger launched a new line of anti-tamper closures for wine and spirit bottles in April 2020, wherein the bottle cap is provided with Near Field Communication (NFC)-powered tamper detection label. The label, in turn, will allow the beverage manufacturer to track the bottle during shipping. This is anticipated to fuel the need for tamper-evident bottle closures of alcoholic beverages.
Key Players
Market Segmentation
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