Future Market Insights (FMI) provides key insights on the snap-on closures market in its latest report titled “Snap-on Closures Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2027”. In terms of revenue, the global snap-on closures market is projected to expand at a CAGR of 5.1% during the forecast period.
The global snap-on closures market is experiencing growth due to the increased demand from personal care & cosmetics, pharmaceuticals, and food & beverages packaging industry growth. The Asia Pacific region is estimated to be the largest marketplace for snap-on closures. The industrial development and evolving purchasing power of individuals from China, India, and ASEAN countries are the key factors which play a vital role in the Asia Pacific snap-on closures market. According to the 2017 annual report of L’Oréal, around 37% of the global cosmetics market is covered by the Asia Pacific. The global pharmaceutical packaging market is estimated to be about US$ 72 Bn in 2018, in which the Asia Pacific accounts for more than 24% of the global market. The improved market share of cosmetics and pharmaceutical packaging industry is expected to boost the demand for snap-on closures market.
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The global market for snap-on closures is segmented on the basis of neck diameter, material, and end use.
In the Asia Pacific snap-on closures market, the polypropylene (PP) snap-on closures segment is estimated to be highly attractive in terms of market share and CAGR during the forecast period. By diameter type, snap-on closures of 34 – 44 mm neck diameter are expected to be the majorly preferred in 2018. Snap-on closures for the beverage industry in the Asia Pacific is projected to register highest CAGR among other end-use segments during the forecast period.
North America snap-on closures market include country level analysis for the U.S. and Canada. In which, the U.S snap-on closure market is expected to dominate the regional market throughout the forecast period. The Latin America snap-on closures market include country-level analysis for Brazil, Mexico, Argentina and Rest of Latin America. In the Latin America snap-on closures market, Argentina is projected to witness fast-pace growth, while Brazil is estimated to be a prominent snap-on closures market in terms of market value during the forecast period. In the Western Europe snap-on closures market analysis, prominent countries such as Germany, Italy, France, Spain, U.K., and Rest of Western Europe are analysed. Spain snap-on closures market is projected to grow at the highest CAGR among other countries in the Western Europe region. Germany and France are estimated to be highly attractive snap-on closures markets in terms of market value share. In the Eastern Europe snap-on closures market, Russia, Poland, and the rest of Eastern Europe are taken under consideration for analysis. The Asia Pacific snap-on closures market includes country-level analysis for China, India, ASEAN, Australia & New Zealand, Japan, and Rest of Asia Pacific.
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The Middle East and Africa (MEA) snap-on closures market include country-level analysis for North Africa, GCC Countries, South Africa, Turkey, Israel, and Rest of MEA. In the Middle East & Africa snap-on closures market, Turkey is projected to expand at the highest CAGR during the forecast period while GCC countries segment is the largest marketplace for snap-on closures throughout the forecast period.
Key players operating in the global snap-on closures market include Alpha Packaging, Inc., Amcor Limited, AptarGroup, Inc., Bericap GmbH and Co KG, Berry Plastics Group, Inc., Blackhawk Molding Co. Inc., CL Smith Company, Closure Systems International, Inc., Comar LLC, Georg MENSHEN GmbH & Co. KG, Global Closure Systems, Mold-Rite Plastics, LLC, O.Berk Company, LLC, RPC M&H Plastics Ltd, Silgan Plastic Closure Solutions, and Weener Plastics Group BV.
In this report, FMI has discussed individual strategies followed by analysing the recent developments related to the snap-on closures product segments by these companies. To provide a comparative analysis of profiled key players of the snap-on closures market, a competition dashboard is provided in the report.
Summary: In terms of revenue, the global snap-on closures market is projected to expand at a CAGR of 5.1% during the forecast period.
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