- The key vendors in the global caps and closures market 2015-2019 are Amcor, Bericap, Berry Plastics Corp., Closure Systems International Inc., Crown Holdings Inc., Global Closure System (GCS), Reynolds Group Holdings and Silgan Holdings Inc.
London, 22 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global caps and closures market 2015-2019. Manufacturers are focusing on lighter packaging without compromising on their in-seal and barrier qualities and performance properties, like functionality and convenience. Reducing the weight of materials and modifying formats to lighter configurations allow vendors to reduce energy consumption and transportation costs. The global caps and closures market is expected to grow at a CAGR of 4.07% in terms of volume and 6.35% in terms of revenue during 2015-2019.
Manufacturers of caps and closures are increasingly introducing cost-effective products in new designs. The market is likely to grow in terms of volume sales primarily because of increasing demand from consumers, especially those in urban areas, preferring convenient products for on-the-go consumption and the increasing demand from manufacturing industries across the world.
“The pharmaceutical industry will likely be the fastest-growing market for caps and closures during the forecast period primarily due to the high demand for medications for older individuals and a growing preference for medication over surgical procedures, which can be costlier, can require healing time, and can involve considerable pain,” says Faisal Ghaus, Vice President of Technavio Research.
“Also, the growing use of single-serve bottles for products such as juices, alcoholic beverages, flavored milk, and health drinks, will further augment volume sales in the caps market in the next five years.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
