Plastic Caps and Closures Market Size: 2021 Analysis, Future Plans, Growth Prospects Predicted by 2025
Market Analysis The plastic caps and closures market is projected to touch USD 61.71 billion at a 5.2% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Plastic caps and closures are effective sealing devices for containers and bottles. Various factors are propelling the global plastic caps and closures market share. According to the recent MRFR report, such factors include growing demand for bottled water, concerns regarding product security and safety, need for convenience, decreasing package sizes, use in product differentiation and branding, use in the production of closures for packaging of daily items, medicine packaging, and industrial packaging, highly versatile, durable, flexible, and economical, and growing demand for hand sanitizers and hand wash liquids during the COVID-19 pandemic. On the contrary, strict policies about the use of plastic materials may limit the global plastic caps and closures market growth during the forecast period.