Sport Cap and Closure Market
Sport cap and closure are referred to the caps which provide tightening solution for bottled water. It means packaging that is designed or constructed significantly for sealing the liquid bottles. Moreover, the trend of adopting sustainable sport cap and closure due to environmental concerns is uplifting the market of sport cap and closure.
Market Size and Forecast
The global sport cap and closure market is expected to grow at a robust CAGR over the forecast period i.e. 2017-2024. Further, the market of sport cap and closure is driven by the changing lifestyle of the consumer coupled with rising personal disposable income.
The sport cap and closure market is segmented into cap type, material, application and region. Further, the cap type segment is sub-segmented into cinch, push pull, oriented, pilot, xtreme and others, out of which cinch sport cap and closure segment is projected to attain lion share in the overall market of sport cap and closure. In addition to this, the growth of cinch sport cap and closure segment is attributed to the rising introduction of innovative designed cinch sports caps. Apart from this, push pull segment is expected to seize an outstanding CAGR by the end of 2024. Furthermore, polypropylene (PP) segment by material captured the largest stake in the market of global sport cap and closure and is envisioned to grow significantly during the forecast period.
North America and Europe region are the notable markets for sport cap and closure market in 2016. North America is poised to grow rapidly over the forecast period owing to presence of urban population. Further, wide product availability in this region is also helping the sport cap and closure market to garb noteworthy revenue. Further, U.S. is the major contributor in the market of sport cap and closure market in this region. Further, rising number of health awareness programs have encouraged the population to involve in sports activities which in turn expected to boost the demand for sports water drinking bottles. This factor is believed to foster the growth of sport cap and closure market.
Europe sport cap and closure market is attaining remarkable s and collecting considerable revenue. Further, Western Europe countries such as U.K. Germany, France and others are the major countries witnessing the augmenting demand for sport cap and closure. Furthermore, presence of numerous vendors in this region is predicted to upsurge the growth of sports cap and closure market.
In Asia-Pacific, sport cap and closure market is anticipated to show a robust growth over the forecast period with the booming of cap and closure industry in this region. Additionally, China is the dominating country in this region. Further, increasing adoption of sport cap and closure by the fitness people in this region is projected to boost the growth of sport cap and closure market.
Our in-depth analysis segmented the sport cap and closure market in the following segments:
By Cap Type
- Push Pull
- Plastics (Polyethylene Terephthalate) (PET)
- High-Density Polyethylene (HDPE)
- Linear Low-Density Polyethylene (LLDPE)
- Polypropylene (PP)
- Bottled Water
- Non-Carbonated Beverages
- Liquid Detergents
Global sport cap and closure market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
Introduction of advanced sport cap and closure by major key players in order to fulfill various demands of the consumers is projected to foster the growth of sport cap and closure market over the forecast period. Moreover, advancement such as smooth liquid flow rate, easy to open and close, secure seals to prevent leakage and others are believed to be the dynamic factor behind the rapid growth of sport cap and closure market.
Rapid urbanization is one of the major factors propelling the market of sport cap and closure. In addition to this, population in urban region are more inclined towards fitness and wellness coupled with changing lifestyle of the consumers have pushed them to adopt innovative design bottles integrated with sport cap and closure. This factor is envisioned to foster the growth of sport cap and closure market all across the globe. Moreover, swelled disposable income has led the consumers to spend more on advanced products for drinking water, supplements and others beverages.
Expansion of beverage industry along with introduction of numerous health drinks has augmented the demand for sport cap and closure which is anticipated to trigger the growth of sport cap and closure market. Likely, rising health consciousness among consumers is expected to supplement the growth of sport cap and closure market.
However, high cost associated with sport cap and closure as compared to normal caps and presence of other caps are anticipated to dampen the growth of sport cap and closure market globally.
Top Featured Companies Dominating The Market
The major key players for sport cap and closure are as follows
- EuroPlast Ltd
- Company Overview
- Key Product Offerings
- Business Strategy
- SWOT Analysis
- Global Closure Systems
- Creative International
- Nilkanth Polyplast
- Caps & Closures Pty Ltd
- Portola Packaging Ltd.
- Closure Systems International
- Pro-Pac Packaging Limited