by Corinne Gangloff
October 24, 2017
Global demand for caps and closures in beverage applications is projected to increase 3.5% annually to 1.5 trillion units in 2021. Among the most significant factors affecting the beverage industry overall is the shift in consumer preferences toward beverages that are healthy and convenient, with bottled water the primary beneficiary in volume terms. According to analyst Mike Richardson, “Premium beverages are also seeing outsized gains in developed markets.” These and other trends are presented in Global Caps & Closures Market, 9th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm:
Subpar gains are expected for beer, wine, and carbonated soft drinks (CSDs). The Asia/Pacific region will not only remain the most important regional market for caps and closures in beverage applications but will also see the fastest advances through the forecast period.
Plastic closures will experience rapid gains, reflecting the continued penetration of PET bottles – which mainly utilize plastic closures – in many beverage applications, particularly the sizable bottled water and CSD segments, although demand in value terms will be constrained to some extent by the commodity nature of most types of beverage closures.
Global Caps & Closures Market, 9th Edition (published 09/2017, 277 pages) is available for $6500 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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