The demand for caps & closures is positively impacted by the popularity of single serving containers, particularly in the beverage industry. This is encouraging more caps & closure manufacturers to produce value-added dispensing closures with additional properties such as tamper evident closures, child resistant closure amongst others. Caps & closure manufacturing companies are shifting their focus towards consumer convenience, where innovative closures such as measuring caps & closures have a pivotal role to play in the industry. Demand for measuring caps & closures for home care, toiletries and cosmetic application, is expected to witness significant growth over the forecast period. Measuring caps & closures are primarily used to measure the volume of liquid or powder present in the container.
The measuring caps & closure market is segmented on the basis of material type, application type, features and size. On the basis of material type, the global measuring caps & closures market is segmented into plastic and metal. Furthermore, the plastic caps & closure segment is further sub segmented into polypropylene (PP), polyethylene (PE), polystyrene (PS) and other plastic resins. The metal caps & closure segment is further sub segmented into steel, tin and aluminum. On the basis of application the global measuring caps and closures market is segmented into beverages, pharmaceuticals, cosmetics, toiletries and homecare applications.
The global demand for measuring caps and closures is driven by various macro-economic factors. Firstly, global growth in the manufacturing output, increased consumer spending on packaged food products and the use of measuring caps & closures on popular container types such as bottles, cans, cartons and pouches is expected to drive the demand for measuring caps and closures over the forecast period. Most of the cap & closure manufacturers are providing customized solutions to most of the customers. Measuring caps & closures makes sure than the consumer is making use of the exact required amount of content, ultimately reducing the wastage. Moreover, the closure industry has not standardized the dimensions to that extent in comparison to the container industry, and this requires the consumers to purchase both container and the closure from the same supplier. In addition to this, high cost of manufacturing measuring caps & closures is a challenge faced by the global caps & closures market. On the basis of features, the global measuring caps & closures market is segmented into plug seal caps, foil liner caps, continuous threaded caps and tamper evident caps.
Geographically, the measuring caps & closures market can be segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The growth of the global measuring caps & closures market is expected to witness a steady CAGR over the forecast period of 2016-2024. North America is expected to witness a steady growth in measuring caps & closures market. However, the region showcases lucrative opportunities for growth in terms of revenue in the toiletries and homecare application segment. Moreover, the emerging cluster of the globe such as China, Brazil, ASEAN and India is expected to heavily contribute to the global measuring caps & closures market. Asia-Pacific region is anticipated to witness maximum growth rate in the global measuring caps & closures market and is likely to maintain its dominance in terms of market share over the forecast period.
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Some of the players identified across the globe in the measuring caps & closures market are Torrent Closures, BERGI-PLAST GmbH, and Seashell Plastics amongst others.