Over the past few years, the packaging industry is observing an impressive growth, mainly driven by the changing needs of brand owners along with rising customization based on the customer’s need. Moreover, one of the important role of packaging is to protect the product as well as to enhance the brand value of that particular product by providing innovative and aesthetic look. Caps & closure are also considered to be one of the important packaging solution among the manufactures of beverages & cosmetic & personal care products. One of the most widely used caps & closure serving the purpose for most of the brand owners is side score caps & closure. Side score caps & closure is gaining popularity among various end user industries owing to the growing preference towards the luxury packaging. The anti-counterfeit property of side score caps & closure is expected to create a positive impact in the global side score caps & closure market during the forecast period.
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Side score caps & closure: Market Dynamics
The global side score caps & closure market is driven by the increasing growth of beverages industry during the forecast period. Increasing number of middle income population in developing economies is expected to intensify the growth of beverages that in turn is expected to escalate the demand of side score caps & closure. Moreover, changing life styles of the people is also expected to fuel the sales of alcoholic beverages that is further propelling the sales of side score caps & closure during the forecast period. In addition, rising chances of counterfeiting and other threats in the supply chain is also anticipated to fuel the sales of side score caps & closure in the upcoming decade. Cosmetic & personal care industry is also witnessing an impressive growth owing to manufactures preference to create luxury packaging in order to enhance the new customer base along with the existing customers. Moreover, side score caps & closure are used widely in the cosmetic & personal care industry to further stimulate the sales of side score caps & closure in the near future.
In terms of geography, the global side score caps & closure market has been segmented into five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Among these region, Asia Pacific is expected to retain its dominance throughout the forecast period owing to the impressive growth in beverages & pharmaceuticals market. Moreover, many beverages, and cosmetic & personal care industries are exploring the innovative packaging solutions. Furthermore, India, China and Japan markets are expected to be the most lucrative destination for the side score caps & closure manufactures. North America is also anticipated to witness healthy growth during the forecast period due to the rising growth of pharmaceuticals along with the beverages. However, Latin America and Middle East & Africa are expected to witness sluggish growth and over the forecast period.
Side score caps & closure Market: Key players
Some of the key players in the global side score caps & closure market are Nippon Closures Co Ltd., Closure Systems International, Kornelis, McKernan Packaging Clearing House, Valspar Corporation, and others.
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