SEATTLE--(BUSINESS WIRE)--Caps and closures are used to seal and keep the container close in order to prevent contamination and preserve the quality of the product. Caps and closures prevent the penetration of moisture, oxygen, dust, and increase the shelf-life of the product. Caps and closures are produced from different materials such as paperboard, rubber, metals, and plastics. They can be used with almost all types of containers used to package beverages such as non-dairy milk, energy drinks, sports beverage, ready-to-drink (tea & coffee), fruit beverages, and other beverages.
The U.S. Caps & Closures market for non-carbonated beverages is estimated to account for US$ 3,209.9 Mn in terms of value and 117,506 Mn Units in terms of volume by the end of 2020
Market Drivers:
Growing health-conscious consumers is boosting demand for sports and energy drinks which is primarily fueling the market growth of the U.S. caps and closures. Growth in the demand for a non-carbonate beverage in the country due to rising awareness regarding the benefits of the caps closure. Increasing need to increase the shelf-life of the product in order to deliver fresh and nutritional beverage is further expected to augment the growth of the U.S. caps and closures.
Rising awareness regarding the negative health impact of the carbonated drinks is escalating demand for a non-carbonated drink among consumers of the U.S. Growing launch of smaller package bottles by manufacture in response to the rising demand for compact and easy to handle packages is also anticipated to foster the market growth of the U.S. caps and closures.
Market Opportunities:
Increasing use of polypropylene as material for caps and closure due to its easy availability and cost-efficiency is expected to open up new avenues to the market of the U.S. caps and closures. Polypropylene provides a cost-effective sealing solution to non-carbonate beverages.
Growing demand for seasonal beverages among consumers is expected to provide potential growth opportunities to the market of the U.S. caps and closures.
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Key Takeaways:
Among applications, bottled water dominated the U.S. caps & closures market in 2019 and accounted for 57.4% of market share in terms of value, followed by fruit beverages and sport beverages, respectively. Bottled water is a packaged beverage that needs to follow food safety, labeling, and inspection requirements. Bottled water can be categorized into distilled water, mineral water, spring water, and sparkling water. Bottled water is sold through different distribution channels such as supermarket, convenience stores, grocery stores, and online among others. Most of the bottle is produced from PET and HDPE materials. In the United States, bottled water is monitored and regulated by the U.S. Food and Drug Administration (FDA).
According to Coherent Market Insights Analysis, the U.S. bottled water market was valued at US$ 17,400 Mn in terms of revenue and was pegged at 10,600 million units in terms of volume in 2018.
Market Trends:
Changing lifestyle due to the growing disposable income of the consumer is increasing their purchasing power is encouraging them to spend on the healthy food products such as carbonated drinks. An increasing number of players coupled with the rising adoption of the advanced technologies for the production caps and closure is projected to propel the market growth. Moreover, the growing demand for milk beverage which is expected to continue to remain high in demand is further expected to foster the market growth of the U.S. caps and closures.
The growing popularity of the caps &closure due to easy to open tools and wide availability of the non-carbonated drinks is expected to bolster the market growth of the U.S. caps and closures. Growing health fitness trends coupled with the increasing number of people participating in sports activities is escalating demand for healthy beverages which is also fueling the market growth. Also, the expansion of the retail chain in the country is again expected to spur the market growth of the U.S. caps and closures.
Competitive Section:
1. Closure Systems International, Inc.
2. Silgan Plastic Closure Solutions
3. Bericap GmbH and Co KG
4. Global Closure Systems
5. AptarGroup, Inc.
6. Berry Plastics Group, Inc.
7. Amcor Limited
8. O.Berk Company, LLC
9. Blackhawk Molding Co. Inc.
10. Tecnocap S.p.A.
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Market Segmentation:
By Application
- Bottled water
- Fruit beverages
- Ready to drink (tea & coffee)
- Sports beverages
- Others (energy drinks, non-dairy milk, etc.)
By Cap Type
- Screw Caps
- Snap-On Caps
- Push-On Caps
By Material Type
- PP
- LDPE
- PS
- HDPE
- PVC
- PET
