Asia-Pacific Plastic Caps and Closures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia-Pacific Plastic Caps and Closures Market is Segmented By Material (PET, PP, LDPE, and HDPE), End-User Industry (Beverage, Food, Pharmaceutical and Healthcare, Cosmetics and Toiletries, Household Chemicals), and Country.

Market Snapshot

apac
Study Period: 2018-2026
Base Year: 2020
CAGR: 4.9 %

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Market Overview

The Asia-Pacific Caps and Closures Market is expected to reach a CAGR of 4.9% during the forecast period 2021-2026. With the recent outbreak of COVID-19, the packaging market may witness a decline in the growth due to restrictions on the movement of goods and severe disruptions in the supply chain. Countries, such as China and Japan, enforced strict lockdown policies, and production and movement of critical raw materials used for the advanced packaging market

  • Plastic caps and closures serve a range of industries, including food and beverages, pharmaceuticals, household goods, and cosmetic products. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.​
  • Asia-Pacific is increasingly drawn toward consuming more healthy food and beverage options, which is likely to influence sports drinks consumption and increased innovation over time. The region is also home to major manufacturing units of food and beverages, which constitutes a major global production portion. Such trends are expected to boost the adoption of plastic caps and closures in the region.​
  • According to APFI, Asia-Pacific Food Industry, India is the biggest producer of milk, globally, with a volume of 176.35 million metric ton per year. It makes up 21% of the world’s milk production and exhibits an annual growth of more than 6%.​
  • Growing disposable incomes and market penetration opportunities have led to improved investment by organizations involved in both manufacturing and distribution of flat valve caps and closures.​

Scope of the report

The report on the global plastic caps and closures market studies various segments that are part of manufacturing different types of plastic materials such as PET, PP, HDPE, LDPE, and other materials.​ The end-user industry of the caps and closure market includes beverage, food, pharmaceuticals and healthcare, cosmetics and toiletries, and other end-users, such as household chemicals, such as detergents, cleaners, soaps, and polishes, automotive cleaners, paints and coatings, and chemicals, among others. ​The average price of the cap/closure has been considered to remain constant over the forecast period owing to fewer fluctuations in prices.​

Material
PET
PP
LDPE and HDPE
Other Materials
End-user Industry
Beverage (Bottled Water, Beer, Dairy, RTD, Wine, Spirits, etc.)
Food
Pharmaceutical and Healthcare
Cosmetics and Toiletries
Household Chemicals (Detergents, Cleaners, Soaps, and Polishes)
Other End-user Industries (Automotive Cleaners, Paints and Coatings, Chemicals, etc.)
Country
China
India
Japan
Rest of Asia-Pacific

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Key Market Trends

PET is Expected to Witness Significant Growth

  • The industry is heavily dependent on the inputs for manufacturing. PET and PE, which are used as raw materials, have highly fluctuating costs in the market. As the cost of production is dependent on these raw materials, manufacturers are finding it difficult to maintain constant output.​
  • Recently, the Chinese beverage producer Jin Mai Lang installed two Sidel complete aseptic PET lines, integrating Tetra Pak Processing System technologies and its Aseptic Combi Predis. These lines deliver a production output of 60,000 bottles per hour, making them one of the fastest aseptic PET lines with dry preform decontamination for low acid products, globally.​
  • These solutions, alongside newly designed PET bottles, aim to assist the Chinese beverage market in increasing the production capacity of its low and high acid products packaged in PET while lowering the total cost of ownership (TCO). Such initiatives by regional players are expected to boost the adoption of plastic caps and closures in the region.​
  • Additionally, the increasing focus on recyclability and sustainability across the sectors is expected to boost the adoption of recyclable materials for the plastic caps and closures in the region.​
apac caps graph1.png

China is Expected to Witness Significant Growth

  • The high demand for bottled water and packaged beverages is driving the growth of this market in the beverage industry. The Chinese government announced a plan to build a sports economy worth USD 850 billion by 2025. Hence, sports drinks and energy drinks are expected to witness huge growth over the coming years.​
  • As the Chinese economy is taking a leap forward, the incomes of Chinese middle-class families are growing. Hence, a considerable segment of the well-educated Chinese population can spend on pharmaceuticals, and they are demanding better government provision.​
  • Plastic caps and closures are an important aspect of medical devices. A growing pharmaceutical market, despite unfavorable policies, is also driving the demand for plastic caps and closures.​
  • In May 2020, Dow introduced a newly formulated post-consumer recycled (PCR) plastic resin designed for collation shrink film applications in Asia-Pacific. ​The new resin is designed with 40% PCR content, which creates a film with performance comparable to those made with virgin resins. The product is made with recycled plastics that are domestically collected within China, and it is manufactured at Dow’s external manufacturing site in Nanjing, China.​
Plastic 2.png

Competitive Landscape

The market for caps and closures in Asia-Pacific is highly competitive due to the presence of major international and local players in the region. The competition in terms of cost and innovation serves as a major barrier for new entrants in the market.

  • February 2020 - The company announced its plan to open the 327,000 sq. ft facility in the Kentucky Transpark in spring 2021. Its subsidiary, Crown Cork & Seal USA Inc., is expected to own and operate the advanced-manufacturing plant. The facility plant may initially manufacture 1.3 billion cans/year, at a rate of 2,800 cans/minute.

Recent Developments

  • June 2020 - Silgan Holdings Inc., a leading supplier of sustainable rigid packaging solutions for consumer goods products, acquired the dispensing business of the Albea Group for $900 million.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

      1. 4.4.1 Growing Consumption of Single Serve Beverages

      2. 4.4.2 Advent of Innovative Products

    5. 4.5 Market Restraints

      1. 4.5.1 Regulations on Usage of Pet Bottles/Caps in Pharmaceutical Drugs and Food Packaging

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material

      1. 5.1.1 PET

      2. 5.1.2 PP

      3. 5.1.3 LDPE and HDPE

      4. 5.1.4 Other Materials

    2. 5.2 End-user Industry

      1. 5.2.1 Beverage (Bottled Water, Beer, Dairy, RTD, Wine, Spirits, etc.)

      2. 5.2.2 Food

      3. 5.2.3 Pharmaceutical and Healthcare

      4. 5.2.4 Cosmetics and Toiletries

      5. 5.2.5 Household Chemicals (Detergents, Cleaners, Soaps, and Polishes)

      6. 5.2.6 Other End-user Industries (Automotive Cleaners, Paints and Coatings, Chemicals, etc.)

    3. 5.3 Country

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 Rest of Asia-Pacific

  6. 6. COMPETITIVE INTELLIGENCE

    1. 6.1 Company Profiles

      1. 6.1.1 Albea Group

      2. 6.1.2 Amcor Ltd

      3. 6.1.3 AptarGroup Inc.

      4. 6.1.4 BERICAP GmbH & Co. KG

      5. 6.1.5 Crown Holdings Inc.

      6. 6.1.6 Berry Global Inc.

      7. 6.1.7 Evergreen Packaging Inc.

      8. 6.1.8 Guala Closures Group

      9. 6.1.9 Silgan Holdings Inc.

      10. 6.1.10 Tetra Pak International SA

      11. 6.1.11 Closure Systems International

      12. 6.1.12 Comar LLC

      13. 6.1.13 Coral Products PLC

      14. 6.1.14 MJS Packaging

      15. 6.1.15 O. Berk Company LLC

      16. 6.1.16 Nippon closures Co. Ltd

      17. 6.1.17 SKS Bottle & Packaging Inc.

      18. 6.1.18 Pelliconi & C. Spa

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The APAC Plastic Caps and Closures Market market is studied from 2018 - 2026.

The APAC Plastic Caps and Closures Market is growing at a CAGR of 4.9% over the next 5 years.

Albea Group, Amcor Ltd, AptarGroup Inc., Crown Holdings Inc., Berry Global Inc. are the major companies operating in APAC Plastic Caps and Closures Market.

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