Caps and closures are produced from different materials such as rubber, plastic, metals, and paperboard. Moreover, they are also beneficial for packaging of beverage in order to preserve the flavor and taste in the food &beverage industry. Bottled water, fruit beverages, ready to drink (tea & coffee, and sports beverages are some of the major application of caps and closure in beverage

U.S. caps & closures market is estimated to account for US$ 3,209.9 Mn in terms of value and 117,506 Mn Units in terms of volume by the end of 2020.

Drivers:

Rising demand for single-serve beverages coupled with the hot fill process which increase the shelf-life of the packaged beverage is expected to fuel the growth of the U.S caps and closures market. The growing popularity of the hot-fill side in the closure business especially in the ready-to-drink segment is projected to augment the market growth over the forecast timeframe.

Growing demand for sports drink in the U.S. country due to the increasing number of health-conscious consumer in the region is expected to accelerate market growth. For instance, in May 2016 – BioSteel Sports Nutrition Inc. has introduced it's highly sought after High Performance Sports Mix in a Ready-to-Drink format (‘BioSteel Sports Drink’) in the United States. The new drink is sugar-free, gluten free, vegan and diabetic friendly.

Market Restraints

According to the Coherent Market Insights analysis, the processors in the U.S. are shifting from using compressed molding, PE-based two-piece closure to injected molded, HDPE one-piece closures which are also lightweight. However, this switch from a two-piece to a one-piece closure involves changing material and the complete manufacturing process. This could be challenging because of the lack of awareness regarding PE in closure applications. Moreover, this transition would also impact the overall supply chain in the industry. This is expected to hinder the growth of the U.S. caps and closure market.

Market Opportunities

Various manufacturers are targeting the bottled water segment as it is the most common beverage consumed. The U.S. consumers have become more health-conscious and this is expected to fuel the growth of the U.S. caps and closure market for a non-carbonated beverage. For instance, in October 2019, Drinking water brand Nestlé Pure Life has introduced a new 330ml bottles for kids made from 100% recycled plastic (rPET). The new bottles feature four DC characters such as Batman, Wonder Woman, Superman, and Shazam.

Key players are introducing lightweight closure in order to enhance the ease of use of the product. This will provide immense growth opportunity to the market of U.S. caps and closure. Lightweight caps & closures manufacturers can focus on developing innovative products and also save the use of material saving. This will enable manufacturers to invest more on new and innovative products.

Market Trends/Key Takeaways

Injection molding is gaining traction in the market as it offers improved consistency due to its ability to obtain tighter part tolerances on the complex structure. It is also useful for easily changing size and uptime efficiency during the production of caps and closure. Thus, the rising popularity of injection molding in the production of caps and closure is expected to favor market growth over the forecast period.
On the basis of application, bottled water dominated the U.S. caps & closures market in 2019 with around 57.4% of market share in terms of revenue, followed by fruit beverages and sport beverages, respectively.

Competitive Section:

Company Names

Closure Systems International, Inc.
Silgan Plastic Closure Solutions
Bericap GmbH and Co KG
Global Closure Systems
AptarGroup, Inc.
Berry Plastics Group, Inc.
Amcor Limited
O.Berk Company, LLC
Blackhawk Molding Co. Inc.
Tecnocap S.p.A.
Few Recent Developments

Closure Systems International, Inc.
Key Developments:

In May 2016, it was stated that the company along with its sister companies Graham Packaging Co. and Evergreen Packaging Inc., would be combining into one consolidated global headquarters in Memphis, U.S.
In January 2015, the company was awarded the ‘best beverage closure manufacturer in Brazil’ by plastics industry publication Premio Plasticos Em Revista
In June 2015, Closure Systems International, Inc. opened a new creative space called Studio C which provided a stimulating environment for ideation and innovation

For more information do visit our site:
https://www.coherentmarketinsights.com/market-insight/us-caps-and-closures-market-analysis-for-non-carbonated-beverages-3847