Caps & closure has become a vital part for beverages packaging as it protects the product from any type of damage or contamination during transit, consumption or storage. The major concern for beverage manufacturers is to achieve the highest degree of product safety at every stage of product lifecycle.
Double wall caps & closures is primarily used for packaging cosmetics products & perishable goods such as food & beverages items, pharmaceutical products and chemicals. Generally, double wall caps & closure consist of two caps, one is inside and other cap appear to be the same diameter as the bottle. Double wall caps & closures are primarily made with plastic and metal. The rising demand for packaging from cosmetics and beverages industry is anticipated to fuel the growth of double wall caps & closure market over the forecast period.
Double Wall Caps & Closures Market- Market Segmentation:
The global double wall caps & closures market can be segmented on the basis of material, product type and end use. On the basis of material, double wall caps & closures market can be segmented into Plastic, Metal and Others (wood, rubber, paper). Adding to this plastic is further segmented into Polypropylene, Polyethylene, Polystyrene, and other resins. Metal is further segmented into aluminum and steel. Plastic currently accounts for majority of share both in terms of value and volume in the global double wall caps & closure market and is expected to hold its dominating position over the forecast period. On the basis of product type, double wall caps & closure can be segmented into flip top, push down and push pull. On the basis of end use double wall caps & closure is segmented into food & beverages industry, cosmetic industry, pharmaceutical and chemical industry. Among the end use segment food & beverages is expected to register the strong revenue growth over the forecast period.
Double Wall Caps & Closures Market - Market Dynamics:
One of the significant factors contributing towards the growth of the double wall caps & closures market is the growing demand from food & beverages sector and is expected to grow at the same rate as the beverages industry. Moreover, the growing preference for easy to use cosmetics across the globe has escalated the demand for plastic & metal cosmetic packaging, which in turn is expected to augment the sale of double wall caps & closure market over the forecast period. Furthermore, burgeoning trend of ready to drink beverages is further expected to propel the demand for double wall caps and closure market.
The recent trend in the caps and closures market including the double wall caps & closures market is the customization, as manufacturer across the globe are focusing on innovative technology & are engaged in providing customized service for different shape, size and ingredients. Largely, manufacturers develops double wall caps & closure for bulk orders.
However, global double wall caps & closure market is highly fragmented in nature, due to ease of entrance. The availability of double wall caps & closure at a lower price by local and regional player is hampering the growth of multinational players.
Double Wall Caps & Closures Market - Regional Outlook
Geographically, the global double wall caps and closure market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global double wall caps and closure market is expected to witness a significant CAGR over the forecast period of 2016-2024. APAC is expected to dominate the global double wall caps and closures market due to growing food & beverages market. Moreover, the growth of the retail sector in the developing economies such as India & China is expected to further boost the sales of double wall caps & closure market in Asia Pacific by the end of the forecast period of 2016-2024. Europe and North America are expected to witness a healthy growth in the double wall caps & closures market over the forecast period. MEA is expected to witness a steady growth during the forecast period.
Double Wall Caps & Closures Market - Major Players:
Some of the major players identified across the globe in the double wall caps & closures market are Verbeeck Packaging NV, IntraPac International Corporation, Olcott Plastics, Inc., Phoenix Closures, Inc., Plastic Closures Ltd., Weener Plastik GmbH, Maynard & Harris Group Limited, Parkway Plastic Inc.
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
- 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.
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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.
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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?
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