Flat Valve Caps and Closures Materials Market Overview
Flat valve caps and closures are considered to be the most important part of packaging and containers such as bottles, tubes, canisters, cans and beverage cartons. Owing to the elevation in consumer preference and huge market potential, the flat valve caps and closures market is anticipated to perceive a significant growth worldwide during forth coming years. Global flat valve caps and closures market is contemplated to grow on the heels of factors such as constant growth in healthcare and personal product globally.
Market Size and Forecast
The Global Flat valve caps and closures market is anticipated to exist at USD 10 billion in 2017. Additionally, the Flat valve caps and closures market anticipated to attain a CAGR of 7% during the forecast period.
The Asia pacific Flat valve caps and closures market evince significant growth owing to the developing countries such as India and China due to increasing consumer base. Increasing disposable income and per capita income along with the high penetration of food and beverage items in the market has led to the increased in the customer base. Additionally, due to increase in penetration of Food and Beverage industry & increase in number of companies indulged in manufacturing of flat valve caps and closures is expected to fuel demand for such products all across the world. Europe and North America Flat valve caps and closures market is also anticipated to exist as high volume market with most of the established players have their presence in this region. Hence, such regions are anticipated to observe a nominal growth in the flat valve caps and closures market. MEA and Latin America are anticipated to perceive normal growth in flat valve caps and closures market in forth coming years.
The growing population in countries such as India, China, Brazil, South Africa, South East Asian Region and the African region situated to Mediterranean Sea manifest significant growth in consumption of FMCG products. The accelerating consumption of such products delineates significant growth in Flat valve caps and closures market across these regions. The developed countries such as U.S, U.K., France, Japan, Germany and many more emanates considerable market volume of Flat valve caps and closures market on the advent of high sustenance capacity to premium FMCG products.
Drivers and Challenges
Surge in Food and Beverage Industry
Flat valve caps and closures manifests high demand amongst various sectors which includes food and beverage sector, cosmetic and personal care, healthcare and toiletries products. Additionally, pertinent innovations among caps and closures are also responsible for the subsequent growth of flat valve caps and closures market. Various innovations include the dripless valves which are primarily used in food packaging, SimpliSqueeze cap from Seaquist Closures that allow controlled dispensing.
Prevalence of Inverted Packaging
The forthcoming trend in this market suggests the increasing prevalence of inverted packages using flat valve caps and closures. Inverted packages of various types are gaining attraction in food and personal care industry and are expected to accelerate flat valve caps & closures market globally.
Standardization in Packaging
The demand for global flat valve caps and closures market is anticipated to witness significant growth owing to the consumer attraction towards convenient packaging. The demand of consumer towards the facilitation of storage and the simplification of obtaining product from the containers.
Addition of Cost
Flat valves caps and closures adds up additional cost to the packing of various products. The cost of packaging adds to price of the product and make it expensive. The rising price of various products is responsible for offsetting the growth of flat valves caps and closure market especially in developing and developed regions.
Our-in depth analysis of the global flat valves caps and closure market includes the following segments:
By Material Used
On the basis of regional analysis, global flat valves caps and closures market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The Asia pacific Flat valve caps and closures market ensue noteworthy surge on the heels of the developing countries such as India and China and their consumer base. Europe and North America Flat valve caps and closures market is also expected to exist as the high volume market with most of the established players having their presence in this region.
Global flat valves caps and closures market is further classified on the basis of region as follows:
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