Caps & Closures Used for Beverages to Reach 1.5 Trillion Units in 2021

Plastic closures will experience rapid gains, reflecting the continued penetration of PET bottles

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Oct 11, 2017, 13:16 ET

CLEVELAND, Oct. 11, 2017 /PRNewswire/ -- Global demand for caps and closures in beverage applications is projected to increase 3.5% annually to 1.5 trillion units in 2021. Among the most significant factors affecting the beverage industry overall is the shift in consumer preferences toward beverages that are healthy and convenient, with bottled water the primary beneficiary in volume terms. According to analyst Mike Richardson, "Premium beverages are also seeing outsized gains in developed markets." These and other trends are presented in Global Caps & Closures Market, 9th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm:

The bottled water market for closures will register the strongest gains among major beverage types, especially in developing areas such as India and Indonesia.
Sports and energy drinks, RTD coffee and tea, and other niche beverages are expected to register the fastest gains in production worldwide and have a greater tendency to use premium or unique packaging as a marketing tool.

For more information: https://www.freedoniagroup.com/industry-study/global-caps-closures-by-region-product-and-market-9th-edition-3538.htm

Subpar gains are expected for beer, wine, and carbonated soft drinks (CSDs). The Asia/Pacific region will not only remain the most important regional market for caps and closures in beverage applications but will also see the fastest advances through the forecast period.

Plastic closures will experience rapid gains, reflecting the continued penetration of PET bottles – which mainly utilize plastic closures – in many beverage applications, particularly the sizable bottled water and CSD segments, although demand in value terms will be constrained to some extent by the commodity nature of most types of beverage closures.

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About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group