2014-01-30 05:01:02 - Global Caps and Closures Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Caps and Closures market is to grow at a CAGR of 5.2 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for packaged foods and beverages. The Global Caps and Closures market has also been witnessing an increasing preference to use plastic material in packaging. However, rising raw materials prices could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Caps and Closures market is the growing concern for sustainable packaging. Many consumer product manufacturers prefer eco-friendly packaging to promote environment sustainability. For instance, smaller caps and closures those are lightweight and eco-friendly. As a result of the increasing environment
concerns, more emphasis is expected to be laid on sustenance of environment, recyclability of materials used in caps and closures, and use of resins that are derived from renewable resources. Factors like these are expected to drive caps and closures manufacturers to research and develop new materials or incorporate new designs of caps and closures.
One of the main factors driving the market is the increase in technological innovations. Manufacturers are looking for higher performance while keeping the costs low at the same time. For instance, manufacturers are producing plastic caps and closures with performance features such as anti-counterfeiting.
One of the main challenges is the adoption of retort pouch packaging. They are designed without any caps or closures such as packaging for juices, milk, and ready-to-eat food, which poses threat towards growth of the market.
The key vendors dominating this space include Bericap GmbH & Co., Berry Plastics Corp., Closure Systems International Inc., Crown Holdings Inc., and Silgan Holdings Inc.
The other vendors mentioned are AlbÃ©a Group, Amcor Ltd., AptarGroup Inc., Borealis AG, Global Closure Systems Ltd., Guala Closures SpA, Nampak Ltd., and Oricon Enterprises Ltd.
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