According to the report, published by Fortune Business Insights in a report, titled “Caps and Closures Market Size, Share & Industry Analysis, By Material (Plastic, Metal, and Others), and By Application (Food & Beverage, Pharmaceuticals, Consumer Goods, Caps and Closures & Personal Care Products and Others) and Regional Forecast, 2019-2026” the market size stood at USD 54.32 billion in 2018. The report offers informative insights into all the prevailing trends of the Caps and Closures Market analysis. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. It is designed to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.
List of Key Companies Profiled in the Global Caps and Closures Market Research Report Includes:
Closure Systems International, Inc.
Silgan Closures GmbH
Pact Group Holdings
Berry Plastics Corporation
Guala Closures S.p.A.
SIG Combibloc Group Ltd.
Browse Detailed Insights of This Research with TOC: https://www.fortunebusinessinsights.com/caps-closures-market-102542
Stringent Government Regulations to Hamper Market Revenue
The growing environmental threats and concerns can be a crucial factor in hampering the growth of the Caps and Closures Market during the forecast period. The increasing government policies for disposal of landfills will consequently dampen the growth of the market. Moreover, the rising plastic waste from various industries such as food & beverages, Caps and Closures, and consumer goods will impel the government to take strict actions, which in turn will hamper the market growth.
For instance, as per Plastic Industry Association, America used about 50 billion plastic water bottles in 2016, and the recycling was only 23%, signaling the need to focus on industry efforts to reduce plastic waste.
Rising Demand for Beverages to Augment Growth in Asia Pacific
North America generated a revenue of USD 15.34 billion in 2018 and is likely to witness a high growth rate during the forecast period. The growth in the region is attributed to the surge in health-conscious consumers. The rising inclination towards juices and health drinks will also aid growth in the region. Asia Pacific is predicted to grow rapidly in the forthcoming years owing to the rising demand for beverages.
Moreover, the low production cost in China and India will create new opportunities for the market in the foreseeable future.
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Plastic Compounding Market: https://www.globenewswire.com/news-release/2020/04/07/2012596/0/en/Plastic-Compounding-Market-to-Exhibit-6-5-CAGR-High-Demand-from-Food-Beverage-Industry-to-Skyrocket-Sales-says-Fortune-Business-Insights.html