Latin America Shows the Fastest Growth Rate in Global Caps and Closures Market

Transparency Market

Research

Caps and Closures Market - Global Industry Analysis, Size,

Share, Growth, Trends, and Forecast 2015 – 2021

Published Date

09-09-2015

70 Page Report

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Press Release

Global Caps and Closures Market to Reach US$51.6 bn by 2021,

Increasing Need for Durable Packaging Drives Growth

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Caps and Closures Market

REPORT DESCRIPTION

Caps and closures form a crucial segment of the packaging industry. Their primary usage is to protect a

product within its holding container and to extend its shelf life. The two primary raw materials used in the

global caps and closures market are metal and plastic. The global caps and closures market also makes

use of other raw materials such as paper, wood, and glass.

The global caps and closures market is growing at a CAGR of 5.2% from 2015 to 2021. The market’s value

at the end of 2014 was US$36.23 bn. By the end of 2021, the global caps and closures market is expected

to reach US$51.57 bn. According to volume, the global caps and closures market is growing at a CAGR of

3.5% from 2015 to 2021, going from a 2014 volume of 1,345.2 bn units to a predicted 1,702.1 bn units in

2021.

Latin America the Fastest-Growing Region in Global Caps and Closures Market

In terms of revenue, the Latin America caps and closures market for food and beverages is expected to

grow at a CAGR of 7.1% from 2015 to 2021. The same market is expected to show a CAGR of 6.1% for

volume in the same forecast period. It is the fastest growing regional segment of the global caps and

closures market. Within Latin America, Brazil is the fastest growing national caps and closures market. The

key growth driver for the Latin America caps and closures market for F&B is the increasing consumption of

packaged...