U.S. demand for caps & closures to approach $12 billion
Demand for caps and closures in the US is expected to grow 4.2% per year to $11.8 billion in 2020, with gains bolstered primarily by the growing use of high value dispensing and child-resistant closures (CRCs). A mitigating factor for value growth will be continued lightweighting, which drives down the costs of raw material and keeps prices low. These and other trends are presented in Caps & Closures, a new study from The Freedonia Group (freedoniagroup.com), a Cleveland-based industry research firm.
Continued efforts to make foods and beverages more convenient to consume on the go, as well as to control portion sizes, will drive unit demand for caps and closures. Single serving beverage bottles are seeing greater use in fruit juices and drinks, flavored and enhanced waters, and other ready-to-drink beverages as consumers look for substitutes for carbonated soft drinks that can be easily transported and consumed while away from home.