Caps, closures, and lids are vital in the packaging industry. Closures not only secure products throughout the supply chain but also maintain their quality. This ongoing demand drives constant innovation in packaging closures.
With the public consuming more single portion snacks than ever, frozen food start-ups with the “next great” frozen dessert or culinary delight must figure out how to navigate the delicate balance between conserving precious capital and providing professional-grade packaged products.
World demand for caps and closures is projected to rise 5.3 percent per year to $46 billion in 2016. Value gains will be supported by raw material price increases and greater use of value-added closures such as dispensing, child-resistant, and tamper-evident types. Unit advances will be driven by the continued popularity of single-serving bottles in the beverage market and further inroads by plastic containers into closureless packaging segments such as metal cans. These and other trends are presented in World Caps & Closures, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.