According to the Fortune Business Insights in a report, titled “Caps & Closures Market, Share and Industry Analysis, By Material (Plastic, Metal, and Others), and by Application (Food & Beverage, Pharmaceuticals, Consumer Goods, Cosmetics & Personal Care Products and Others) and Geography Forecast till 2026” the market size stood at USD 54.32 billion in 2018. The report offers informative insights into all the prevailing trends of the caps & closures market analysis. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market.
Information Source- https://www.fortunebusinessinsights.com/caps-closures-market-102542
Rising Demand for Beverages to Augment Growth in the Asia Pacific
North America generated a revenue of USD 15.34 billion in 2018 and is likely to witness a high growth rate during the forecast period. The growth in the region is attributed to the surge in health-conscious consumers. The rising inclination towards juices and health drinks will also aid growth in the region. The Asia Pacific is predicted to grow rapidly in the forthcoming years owing to the rising demand for beverages. Moreover, the low production cost in China and India will create new opportunities for the market in the foreseeable future.
Launch of SyLon Sports Closure by Coca-Cola Amatil to Foster Growth
Coca-Cola Amatil Limited, world-renowned bottlers of non-alcoholic ready-to-drink beverages, launched SyLon Sports closure, an innovative solution for Powerade bottles. These Australian-grown innovative bottles are designed, tested, and prototyped by the Amatil Services Division in Sydney. The introduction of SyLon Sports closure will contribute positively to the caps & closures market trends due to the improved quality and recyclability of the closure through its component.