Global Beverage Caps and Closures Market: Snapshot

Caps and closures meet the packaging needs of various types of beverages. The growth in the market rides on the back of the diversity of beverages consumed worldwide, including the extensive consumption of bottled water. The shifts in the beverage caps and closures market has been underpinned by the use of caps and closure plastics that can meet variety of characteristics, such as flavor retention, products’ shelf life, and design parameters. Changing consumer preferences, especially in developing regions, have led to the demand for health-promoting beverages, which, in turn, spurred the demand for beverage caps and closures. 

Chemical producers serving the beverages packaging industry are coming out caps and closures made of high-performance resins with good barrier properties and excellent puncture and impact resistance. There is a need for beverage caps and closures to meet food safety requirements by resisting attack by wide range of chemicals, increasingly in carbonated soft drinks and bottled water. 

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Global Beverage Caps and Closures Market: Notable Developments 

Numerous packaging manufacturers serving the beverages industry are focusing on capacity expansion. In recent times, a few of them are teaming up with raw material manufacturers to help them source sustainable materials at ease for making caps and closures. The global beverage caps and closures market is witnessing promising avenues from this. 

A case in point is plans made by BG Packaging to expand its line of flexible plastics and biodegradable packaging for the beverages industry. The company aims to consolidate its domestic production and also capture overseas markets in the next few years. To this end, the company has planned several new investments, which in aggregate accounts for 1 bn baht. The details of the plan will be disclosed tentatively in 2020. Specifically, the company is trying to collaborate with local sugar producers who will offer biodegradable plastics used in beverages caps and closures. Particularly, it will focus on wide range of demand of beverages producers in Myanmar, Cambodia, and Vietnam. 

A conscious shift from soda to bottled water is likely to offer vast opportunities to PET plastic recyclers. According to International Bottled Water Association (IBWA), bottled water packaging is fully recyclable. This bodes well for the beverage caps and closures market. 

Some of the well-entrenched players in the beverage caps and closures market are Tetra Laval International, Pact Group, Guala Closures Group, Silgan Holdings Inc., Evergreen Packaging Inc., and Berry Global, Inc.

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Global Beverage Caps and Closures Market: Key Growth Dynamics

Strides made by the bottled water industry have imparted considerable momentum to the beverage caps and closures market. The demand is prominent in developed regions particularly in North America. Rapid advances being made in sealing technologies for carbonated soft drinks, beer, and wine have been made by adoption of PET bottles for packaging. Beverage caps and closures meant for carbonated drinks must ensure prolonged carbonation retention and should allow easy processing to beverages manufacturers. 

Substantially rising demand for mineral water, especially in developing and developed countries, has accentuated the prospects of the beverage caps and closures market. Significant impetus has come from the use of halogen-free liners in metal beverage crowns. This has also spurred the demand for beverage cups and closures. 

The beverages packaging industry is constantly seeking caps and closures made of resins with array of promising characteristics. For instance, this has bolstered demand for low-temperature seal-ability caps and closures. Focus on anti-counterfeit activities has propelled the demand for tamper-safe closures and caps, thereby fueling the prospects of the beverage caps and closures market. 

Global Beverage Caps and Closures Market: Regional Assessment

On the regional front, North America has been a promising market for beverage caps and closures quite some time. In recent years, developing regions most notably Asia Pacific has made its mark in the global beverage caps and closures market. Rising consumption of nutritional and flavored beverages has spurred the use of beverage caps and closures. Notable strides made in the beverages industry in the region have accentuated the production of caps and closures for different types of beverages, including bottled water.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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