The plastic dispensing caps market was estimated to be worth USD 46.6 billion in 2021 and is anticipated to grow to USD 69.91 billion by 2029, recording a CAGR of 5.2% from 2022 to 2029. The Data Bridge Market Research team’s thorough expert research, import and export analysis, price analysis, production consumption analysis, patent analysis, and technical developments are all included in the market study.
Future demand for and market growth for plastic dispensing caps are favourable due to these products’ high levels of recyclability and practicality in packaging, as well as their expanding use in beverage packaging. Additionally, as consumers focus on suitable packaging alternatives, the need for plastic dispensing systems is rising.
Plastic dispensing caps are a type of packaging that is used to seal the top of containers, packages, or bottles. They may be threaded into different kinds of openings in order to provide additional visibility for finding the contents inside. There are various styles and shapes offered on these closure devices which range from being made with plastic materials up to metal ones. Plastic dispensing caps often include screwcaps, snap lids, dispensing caps, push-pull disc tops, and more.
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Plastic Dispensing Caps Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Need for convenience and concerns about product safety & security
The requirement for convenience and better operability act as important drivers for plastic dispensing caps. A plastic cap plays major role in safeguarding the product from dust and other microbes. Plastic dispensing caps are profitable as compared to metal dispensing caps. Consumers are on the lookout for user-friendly dispensing caps, easy to open, and convenient to use.
Increase in demand of caps due to prevention
The increasing popularity of dispensing caps in different product groups such as body care, skincare, beverages, and liquid food products is probably spurring the global growth of the plastic dispensing caps market. The health and wellness trend is now shifting towards preventive healthcare, which prevents contamination, tampering, and counterfeiting is becoming important to reassure consumers about the safety of the products they are buying.
COVID-19 Impact on Plastic Dispensing Caps Market
The global plastic dispensing caps market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the plastic dispensing caps used for personal care, automotive, and chemicals will witness a significant decline in its demand. However, there will be a rise in the demand for plastic dispensing in the beverage and pharmaceutical sectors during COVID-19. The demand for plastic dispensing caps in the pharmaceutical industry is expected to remain robust as hospitals, drugs, and PPE manufacturers respond to the crisis. The need for domestic healthcare, staples, and medical items is not predicted to fall drastically, and retail distribution of these products through online delivery is expected to expand.
Global Plastic Dispensing Caps Market Scope
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Competitive Landscape and Plastic Dispensing Caps Market Share Analysis
Some of the major players operating in the plastic dispensing caps market are:
Coral Products PLC (UK)
Silgan Holdings Inc. (US)
O.Berk Company, LLC (US)
Guala Closures s.p.a (Italy)
United Caps (Luxembourg)
Dun & Bradestreet Inc. (Australia)
Caprite Australia (Australia)
Pano Cap (Canada)
Plastic Closures (UK)
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This release was published on openPR.