Plastic Caps and Closures Market Estimated To Lock An Ineffaceable Growth By 2023

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Plastic Caps & Closures are extensively used as a part of packaging or containers, like bottles, cans, tubes, stand-up Pouches etc. Besides serving as access to open the container and providing protection to the product against spillage and damage; they also add elegance and reflect the exclusivity & luxury nature of the product, convey a brand’s image while establishing emotional connection with the consumer. For instance, Plastic Caps & Closures of a skincare product; are usually given the glossy surfaces through metallization processes to give it a sleek look allowing it to reflect smoothening & glowing benefits of that product. Similarly Dark and sturdy Plastic Caps & Closures are assigned to shampoo bottles to actually convey that the containing product will help hair to grow strong & thick.
Accrediting the growing traction the Plastic Caps & Closures market is enjoying globally and the prominent growth prospect the market is demonstrating currently; the Market Research Future has recently published a brilliant study report giving out the market insights up till 2023. In its analysis MRFR asserts that the global Plastic Caps and Closures market is expected to reach the market size of ~USD 61.71 billion by 2023 posting a striking CAGR of ~5.2% between 2017 and 2023.

Gone are the days when Elite liquors/wines and alcoholic beverages were packaged in glass bottles capped with the natural cork. PET bottles with the complementing caps have taken over the glass packaging long ago due to the shortage of natural cork. Thus allowing the drinks & beverages industry to foster the Plastic Caps & Closures market growth. Trend of packaged food and drinking water owing to the need of the modern & heady lifestyle coupled with the convenience Plastic Caps & Closures offer is driving the Plastic Caps & Closures market growth globally.

Segments

For the convenience of the report and enhanced understanding; MRFR has segmented the Plastic Caps & Closures Market in to 4 key dynamics.
Segmentation by Raw Material  :  Comprises Polypropylene, Polyethylene, Polystyrene, and other Resins.
Segmentation by Product Type  : Comprises Screw Caps, Dispensing Caps and other Plastic Caps.
Segmentation by End Use           : Comprises Food & Beverage, Pharmaceutical, and others.
Segmentation By Regions            : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Regional Analysis

On the basis of geography, the market has been segmented as North America, Europe, Asia Pacific and RoW. Geographically, Asia Pacific dominates the global plastic caps & closures packaging market with the largest market share.


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