Global plastic caps and closures demand is projected to advance 4.1% per year to nearly 1.9 trillion units in 2021. Gains will be driven by bottled water, which has become the largest application for plastic closures and offers the greatest growth opportunities through 2021. These and other trends are presented in “Global Plastic Caps & Closures Market,” a new study from The Freedonia Group (freedoniagroup.com), a Cleveland-based industry research firm.
Threaded plastic caps and closures accounted for the largest share of plastic caps and closures demand in 2016 and will continue to do so going forward, totaling 67% of the market in 2021. Advances for threaded plastic caps and closures will be affected to some extent by competition from value added closure types such as dispensing and child-resistant varieties. Dispensing caps are becoming increasingly popular in applications once dominated by standard threaded caps, such as single-serve bottled water and sports drinks. These beverages are often packaged in plastic bottles featuring flip-top or push-pull caps that enable easy, on-the-go dispensing without requiring the removal of the cap.
The Asia/Pacific region will see the fastest demand growth of any global region through 2021. Increased food, beverage, and pharmaceutical production will drive above average growth for every product type.