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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Caps and closures are used to seal or close the container such as a bottle, jar, can, and tube. They are widely used across the beverage industry to package the non-carbonated drink in order to prevent the entry of any foreign particles. They provide barrier to moisture, dust, and oxygen, in turn, keep the product fresh and also enhance the shelf-life of the product. Caps and closures are produced from different materials such as rubber, plastic, metals, and paperboard. Moreover, they are also beneficial for packaging of beverage in order to preserve the flavor and taste in the food &beverage industry. Bottled water, fruit beverages, ready to drink (tea & coffee, and sports beverages are some of the major application of caps and closure in beverage

U.S. caps & closures market 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.

Drivers:

Rising demand for single-serve beverages coupled with the hot fill process which increase the shelf-life of the packaged beverage is expected to fuel the growth of the U.S caps and closures market. The growing popularity of the hot-fill side in the closure business especially in the ready-to-drink segment is projected to augment the market growth over the forecast timeframe.

Growing demand for sports drink in the U.S. country due to the increasing number of health-conscious consumer in the region is expected to accelerate market growth. For instance, in May 2016 – BioSteel Sports Nutrition Inc. has introduced it's highly sought after High Performance Sports Mix in a Ready-to-Drink format (‘BioSteel Sports Drink’) in the United States. The new drink is sugar-free, gluten free, vegan and diabetic friendly. 

Market Restraints

According to the Coherent Market Insights analysis, the processors in the U.S. are shifting from using compressed molding, PE-based two-piece closure to injected molded, HDPE one-piece closures which are also lightweight. However, this switch from a two-piece to a one-piece closure involves changing material and the complete manufacturing process. This could be challenging because of the lack of awareness regarding PE in closure applications. Moreover, this transition would also impact the overall supply chain in the industry. This is expected to hinder the growth of the U.S. caps and closure market.

Market Opportunities

Various manufacturers are targeting the bottled water segment as it is the most common beverage consumed. The U.S. consumers have become more health-conscious and this is expected to fuel the growth of the U.S. caps and closure market for a non-carbonated beverage. For instance, in October 2019, Drinking water brand Nestlé Pure Life has introduced a new 330ml bottles for kids made from 100% recycled plastic (rPET). The new bottles feature four DC characters such as Batman, Wonder Woman, Superman, and Shazam.

Key players are introducing lightweight closure in order to enhance the ease of use of the product. This will provide immense growth opportunity to the market of U.S. caps and closure. Lightweight caps & closures manufacturers can focus on developing innovative products and also save the use of material saving. This will enable manufacturers to invest more on new and innovative products. 

Figure 1. U.S. Caps & Closures Market – Opportunity Analysis

U.S. Caps & Closures  | Coherent Market Insights

Market Trends/Key Takeaways

Injection molding is gaining traction in the market as it offers improved consistency due to its ability to obtain tighter part tolerances on the complex structure. It is also useful for easily changing size and uptime efficiency during the production of caps and closure. Thus, the rising popularity of injection molding in the production of caps and closure is expected to favor market growth over the forecast period.

Figure 2. U.S. Caps & Closures Market, Revenue Share (%), By Application, in 2019

U.S. Caps & Closures  | Coherent Market Insights

On the basis of application, bottled water dominated the U.S. caps & closures market in 2019 with around 57.4% of market share in terms of revenue, followed by fruit beverages and sport beverages, respectively.

Competitive Section:

Company Names 

  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.

Few Recent Developments

  1. Closure Systems International, Inc.

Key Developments:

  • In May 2016, it was stated that the company along with its sister companies Graham Packaging Co. and Evergreen Packaging Inc., would be combining into one consolidated global headquarters in Memphis, U.S.
  • In January 2015, the company was awarded the ‘best beverage closure manufacturer in Brazil’ by plastics industry publication Premio Plasticos Em Revista
  • In June 2015, Closure Systems International, Inc. opened a new creative space called Studio C which provided a stimulating environment for ideation and innovation

Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, crown cap, snap on, friction fit, tamper evident, and dispersing. Caps and closures find a broad range of application in numerous industries such as beverages, cosmetics, chemicals, and pharmaceuticals. The material used to manufacture caps and closures must possess excellent balance of stiffness and toughness along with good chemical resistance. Generally, caps and closures of lightweight and high toughness are preferred in the market.

Significant demand for product safety, rising demand from end-use industries, product differentiation, and a large product scope are the major drivers for caps and closures market. Rising implementation of stringent environmental regulations and availability of substitutes in the market are projected to be the factors hindering market growth.

Market Dynamics

The market of U.S. caps & closures market for non-carbonated beverages is witnessing continuous consolidation owing to the several major players are acquiring smaller ones in order to expand their market presence. For instance, in March 2016, Global Closure Systems was acquired by RPC Group Plc., (a plastic products design and engineering company) for US$ 714.6 Mn. Thus, a growing merger and acquisition in the market are expected to accelerate market growth.

Players operating in the U.S. caps & closures market are focusing on various strategies such as partnerships & collaboration in order to expand their product portfolio. For instance, in August 2019, AptarGroup, Inc. entered in to a partnership with Nippon Closures Co., Ltd (manufacturer of bottle closures based in Japan). Under the partnership the companies will cross-license their technologies for producing tethered beverage closures. The partnership will help AptarGroup to expand its product portfolio of dispensing closures.

The market of caps and closure market is facing competition from closure-less packaging along with the development of flexible packaging is expected to curb the growth of U.S. caps & closures market for non-carbonated beverages. According to the flexible packaging association, “as of June 2015, the flexible packaging market in the U.S. was the second leading packaging segment and represented a share of 19% in the total packaging market valued at US$ 164 Bn..

Key features of the study:

  • This report provides in-depth analysis of U.S. caps & closures market and provides market size (US$ Million & Mn Units) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the U.S. caps & closures market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes, Closure Systems International, Inc., Silgan Plastic Closure Solutions, Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., and Tecnocap S.p.A.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
  • The U.S. caps & closures market report caters to various stakeholders in this industry including investors, suppliers, alcohol manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the U.S. caps & closures market

Detailed Segmentation:

  • U.S. Caps & Closures Market, By Cap Type:
    • Screw Caps
    • Snap-on Caps
    • Push-on Caps
  • U.S. Caps & Closures Market, By Application:
    • Bottled water
    • Fruit beverages
    • Ready to drink (tea & coffee)
    • Sports beverages
    • Others (energy drinks, non-dairy milk, etc.)
  • U.S. Caps & Closures Market, By Material Type:
    • Plastic
      • PP (Polypropylene)
      • LDPE (Low-density Polyethylene)
      • PS (Polystyrene)
      • HDPE (High-density Polyethylene)
      • PVC (Polyvinyl Chloride)
      • PET (Polyethylene Terephthalate)
    • Metal
  • Company Profiles
    • Closure Systems International, Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Silgan Plastic Closure Solutions
    • Bericap GmbH and Co KG
    • Global Closure Systems
    • AptarGroup, Inc.
    • Berry Plastics Group, Inc.
    • Amcor Limited
    • O.Berk Company, LLC
    • Blackhawk Molding Co. Inc.
    • Tecnocap S.p.A.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Cap Type
      • Market Snippet, By Application
      • Market Snippet, By Material
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. U.S. Caps & Closures Market, By Cap Type, 2017- 2027 (US$ Million & Million Units)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Screw Caps
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Snap-on Caps
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Push-on Caps
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
  5. U.S. Caps & Closures Market, By Application, 2017- 2027 (US$ Million & Million Units)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Bottled water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Fruit beverages
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Ready to drink (tea & coffee)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Sports beverages
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
    • Others (energy drinks, non-dairy milk, etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
  6. U.S. Caps & Closures Market, By Material Type, 2017- 2027 (US$ Million & Million Units)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Plastic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
      • Sub-segment Trends
        • PP (Polypropylene)
        • LDPE (Low-density Polyethylene)
        • PS (Polystyrene)
        • HDPE (High-density Polyethylene)
        • PVC (Polyvinyl Chloride)
        • PET (Polyethylene Terephthalate)
    • Metal
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million & Million Units)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Closure Systems International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Silgan Plastic Closure Solutions
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bericap GmbH and Co KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Global Closure Systems  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • AptarGroup, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Berry Plastics Group, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Amcor Limited  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • O.Berk Company, LLC 
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Blackhawk Molding Co. Inc. 
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Tecnocap S.p.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for caps & closures is forecast to surpass 4,504.2 million by 2027 witnessing a CAGR of 5.6% between 2020 and 2027.
Rising demand for single-serve beverages coupled with the hot fill process which increase the shelf-life of the packaged beverage is expected to fuel the growth of the U.S caps and closures market.
The caps & closures market has been segmented by Cap Type, Material, and Application.
The U.S. caps & closures market is expected to exhibit a CAGR of 5.6%, in terms of revenue, during the forecast period (2020-2027).
Major players operating in the U.S. caps & closures market include Closure Systems International, Inc., Silgan Plastic Closure Solutions, Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., and Tecnocap S.p.A.
Injection molding is gaining traction in the market as it offers improved consistency due to its ability to obtain tighter part tolerances on the complex structure. It is also useful for easily changing size and uptime efficiency during the production of caps and closure. Thus, the rising popularity of injection molding in the production of caps and closure is expected to favor market growth over the forecast period.
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