Asia Pacific Plastic Caps and Closures Market

Asia Pacific Plastic Caps and Closures Market Outlook

The Asia Pacific Plastic Caps and Closures Market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.9% during 2023–2031. The growth of the market is attributed to growing disposable income.

Plastic caps and closures are important components in product packaging as they play a vital role in enhancing the aesthetics and functionality of the products, fitting, longevity, and design. They are usually made from metal and rubber. Plastic is more economical, versatile, durable, light, and resistant to corrosion.

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Asia Pacific Plastic Caps and Closures Market Trends, Drivers, Restraints, and Opportunities

• Rising usage of packages without closures such as blister and pouches packages is projected to boost the market growth in the coming years.

• Increasing demand for plastic caps and closures due to their characteristics such as versatility, easy availability, durability, and flexibility is anticipated to the market growth during the forecast period.

• Growing trend of e-commerce shopping is estimated to spur the market growth in the coming years.

• The COVID-19 pandemic positively impacted the plastic caps and closures market due to increasing demand for packaged food products in the year 2020.

• Rising emphasis on health and hygiene is anticipated to drive the market growth during the forecast period.

• Increasing consumer health concerns and government taxes on the use of plastic caps and closures is projected to boost the market growth in the coming years.

• Growing urbanization and busy lifestyles is anticipated to the market growth during the forecast period.

• Rising demand for ready-to-drink tea, coffee, juices and sports drinks is estimated to spur the market growth in the coming years.

• High cost of cork and metal is estimated to restrict the market growth.

• Increasing utilization of plastic caps and closures in the packaging of disinfectants, acids, fuels, and lubricants is anticipated to drive the market growth during the forecast period.

Scope of Asia Pacific Plastic Caps and Closures Market Report

The report on the Asia Pacific plastic caps and closures market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Asia Pacific Plastic Caps and Closures Market Segment Insights

HDPE segment to hold a significant market share

On the basis of materials, the market is divided into PET, PP, LDPE, and HDPE. The PET segment is anticipated to hold a key share of the market in the coming years. They significantly use less energy and natural resources during the manufacturing process as compared to glass packaging production. However, the HDPE segment is anticipated to expand at a rapid pace during the forecast period as they are safe and are not known to transmit any chemicals in foods or drinks, making the plastic a low health risk variety, according to chemical safety facts.

Pharmaceuticals segment is projected to expand at a considerable CAGR

Based on end user industries, the market is segregated into beverage, foods, pharmaceuticals and healthcare, cosmetics and toiletries, household chemicals, and others. The beverages segment is divided into bottled water, beer, dairy, RTD, wine, and spirits. The household chemicals segment includes detergents, cleaners, soaps, and polishes. The others segment is segregated into automotive cleaners, paints and coatings, and chemicals.

The cosmetics and toiletries segment is expected to represent a key share of the market in the upcoming years due to the usage of closures and caps in producing hair preparations products, face creams, lotions, and perfumes. On the other hand, the healthcare and pharmaceutical segment is anticipated to expand at a rapid pace during the forecast period owning to better health outcome, low price, and intense growth and competition.

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India is estimated to account a major market share

On the basis of geography, the Asia Pacific plastic caps and closures market is classified as China, Japan, India, Australia, and Rest of Asia Pacific. China is expected to constitute a key share of the market during the projected period due to increasing demand for sports drinks and energy drinks. However, the market in India is anticipated expand at a rapid pace during the forecast period owing to growing pharmaceutical market.

Segments

The Asia Pacific plastic caps and closures market has been segmented on the basis of

Materials

• PET
• PP
• LDPE
• HDPE

End-users

• Beverage
  • Bottled Water
  • Beer
  • Dairy
  • RTD
  • Wine
  • Spirits
• Foods
• Pharmaceuticals and Healthcare
• Cosmetics and Toiletries
• Household Chemicals
  • Detergents
  • Cleaners
  • Soaps
  • Polishes
• Others
  • Automotive Cleaners
  • Paints and Coatings
  • Chemicals

Geography

• China
• Japan
• India
• Australia
• Rest of Asia Pacific

Key Players

• Albea Group
• Amcor Ltd.
• Aptar Group Inc.
• Crown Holdings Inc.
• Berry Global Inc.

Competitive Landscape

Key players competing in the Asia Pacific plastic caps and closures market includes Albea Group; Amcor Ltd.; Aptar Group Inc.; Crown Holdings Inc.; and Berry Global Inc.

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.