Customized Capping Technology Market – Global Industry Analysis, Growth, Trends, Forecast 2024
Customized capping technology is a significant part of packaging and is widely used in manufacturing containers such as bottles, cans, tubes, cans and beverages cartons. Customized capping is gradually replacing the traditional capping technology because of its demand in current market. Nowadays, customization in packaging has become a trend for competition and security purposes. Demand for customized capping technology is expected to be driven by increasing adoption of packaging technology across developing geographies of the globe.
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Customized Capping Technology Market- Market Segmentation:
Global customized capping market is segmented on the basis of product, material and end use industry. On the basis of product the global customized capping technology market can be segmented as screw caps, dispensing caps and other plastic caps. On the basis of material type, the key segments include plastic, metal and others. On the basis of end use, customized capping technology market can be segmented into food & beverages, personal and home care, pharmaceuticals, industrial chemicals and others.
Customized Capping Technology Market – Market Dynamics:
One of the significant factors contributing towards the growth of customized capping technology market is renewable natural material of some products. Moreover, customized capping technology market is expected to grow because newer beverage categories including ready-to-drink tea and coffee, sports drinks, and other healthy beverage alternatives will fuel overall demand for this market. Easy availability of raw materials like resins and advanced machinery is also expected to positively influence the demand for customized capping technology market. The growing use of dispensing plastics closures, along with the growth of hypermarket, supermarket, and online retail sales are other key factors driving the demand for customized capping technology market. Evolving regulatory framework in some countries can influence the growth of the market during the forecast period.
Customized Capping Technology Market – Regional Outlook
Geographically, the global customized capping technology market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global customized capping technology market is expected to witness a stable CAGR over the forecast period of 2016-2024. Moreover, Asia-Pacific was the largest revenue contributor in the market as consumption of alcoholic beverages has been increased. The demand of the customized capping technology market is expected to witness an above average growth in North America for commercial and industrial use.
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Customized Capping Technology Market – Major Players:
Some of the major players identified across the globe in the customized capping technology market are Silgan Holdings, Plastics Corporation, Guala Closures Group, Crown Holdings, Closure Systems International, Aptar Group, and Pact Group Holdings.
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