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...