According to the latest market report published by Transparency Market Research titled “Gable Top Caps & Closures Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025,” beverages market is expected to be the largest contributor to the global gable top caps & closures over the forecast period. Globally, the revenue generated from sales of gable top caps & closures in global market has been estimated to be over US$ 51.0 Mn in 2017, and is projected to increase at a CAGR of 5.7% during forecast period 2017-2025.
Gable top caps & closures products include range of product types such as screw caps, flip caps, and others (twist caps) etc. Gable top caps & closures has application in diverse market segments including food, beverages, laundry and detergent, paint and lubricants, and pet food.
Flexibility, durability and protective properties of the gable top caps & closures products have influenced the gable top caps & closures segment to emerge as a crucial element of growth in the global liquid packaging market wherein the North America region has gained immense strategic significance. The global gable top caps & closures market has exhibited market dynamics particularly driven by industry friendly innovative design in gable top cartons, and product safety features exhibited by them.
The global gable top caps & closures market is expected to witness a CAGR of 5.7% over the forecast period, 2017-2025, due to factors such as less chances of spillage, tamper evident and re sealable features. Beverages in the global region accounts for over half of the gable top caps & closures market share. Resultantly, product development activities undertaken by packaging manufacturers in the region are targeted towards major clients in beverages markets.
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The global gable top caps & closures market is expected to witness a shift in opportunities from polyethylene gable top caps & closures to bio plastics such polylactic acid (PLA).
On the basis of region, Asia Pacific is estimated to be valued at US$ 20.4 Mn by 2017 and is expected to expand at a CAGR of 6.6% during the forecast period.
Some of the key players in global gable top caps & closures market include BERICAP GmbH & Co. KG, Evergreen Packaging Inc., UNITED CAPS LUXEMBOURG S.A, Tetra Pak, International S.A., Elopak Inc., Silgan Plastic Closure Solutions, Closure Systems International, Inc., Berry Global, Inc., and O.Berk.