In this report, Transparency Market Research presents a detailed overview of the present state of development of the U.S. market for caps and closures for non-carbonates beverages. The report also includes vast forward-looking statements suggesting the course of development the market and its key segments will take over the period between 2016 and 2024. The report provides historic market data for 2015 and forecast from 2016 to 2024 based on revenue (US$ mn/bn) and volume (mn/bn units). A detailed analysis of drivers, restraints, and key trends, expected to influence the future growth prospects of the market are also analyzed.
U.S. Caps & Closures Market for Non-carbonated Beverages: Trends and Opportunities
The report examines the U.S. market for caps and closures for non-carbonated beverages on the basis of criteria such as cap type, material, and application. On the basis of cap type, the market has been segmented into screw caps, push on caps, and snap on caps. On the basis of the material used to manufacture caps and closures for beverage packages, the U.S. market has been examined for low density polyethylene (LDPE), polypropylene (PE), polyethylene terephthalate (PET), high density polyethylene (HDPE), and polyvinyl chloride (PVC). Of these, the segment of polypropylene presently dominates, accounting for a massive 60% of the overall market and is expected to remain the most preferred material in the next few years as well.
The segment of HDPE is expected to witness immense rise in demand over the report’s forecast period, owing to factors such as the easier availability and cost effective nature over other popular materials. The material will also benefit from the increased adoption of injection-molded closures made from HDPE.
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The key areas of application of caps and closures for non-carbonated beverages include sports beverages, bottled water, ready-to-drink milk, and fruit beverages. Of these, the segment of bottled water is expected to lead to the most prominent share of revenue to the U.S. market. The segment is expected to account for a massive 69% of the overall market by 2024, registering an excellent 6.1% CAGR from 2016 through 2024. The ready-to-drink milk segment will also witness a promising incremental opportunity over the said period, exhibiting an 8.4% CAGR.
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