U.S. caps and closures market to surpass $4.5 billion by end of 2027
The U.S. caps and closures market for non-carbonated beverages is estimated to account for $3.2 billion in value and about 117.5 billion units by the end of this year, and $4.5 billion by the end of 2027, according to a study by Coherent Market Insights (CMI).
Last year, production for caps and closures focused on use with water bottles, which accounted for 57.4 percent of market share in terms of value, followed by fruit beverages and sport beverages, respectively. Most bottles are produced from PET and HDPE materials.
Due to its wide availability and cost-efficiency, PP is increasingly being used for caps and closures, CMI said. It provides cost-effective sealing for non-carbonated beverages. Growing demand for seasonal beverages among consumers is expected to provide opportunities in the U.S. market.
Increasing awareness of the negative health impacts of carbonated drinks is escalating demand for non-carbonated drinks among U.S. consumers. Consumers are boosting demand for sports and energy drinks. This trend is primarily fueling the market growth for caps and closures in the U.S. The need to increase the shelf life of those products is expected to augment the growth of the U.S. caps and closures market.
A growing launch of smaller package bottles by manufacturers in response to the rising demand for compact and easy-to-handle packages also is anticipated to foster market growth.
