PETpla.net Insider 03 / 2017

7 NEWS PET planet Insider Vol. 18 No. 03/17 www.petpla.net U.S. caps & closures market for non-carbonated beverages The growth in the demand of single-serve beverages is cur- rently the leading factor driving the market for caps and closures for non-carbonated beverages in the U.S. This is the result of a study by Transparency Market Research (TMR) which further argues that the demand for these caps and closures is also specifically on the rise due to a growing aversion to carbonated beverages amid the growing obesity crisis. The increasing number of consumers demanding smaller bottles and convenience packaging is also driving the U.S. caps and closures market for non-carbonated beverages. The market is being spurred by the increasing favour- ability of seasonal beverages as well. However, the U.S. caps and closures market for non-carbonated beverages is currently being restricted by the high costs of replac- ing manufacturing equipment and the switching costs associated with changing from two piece to one piece caps. Conventional manufacturers are also facing a solid competition from closure-less packaging. The U.S. caps and closures market for non-carbonated beverages is also being restricted by the stringent regulations by FDA and the high number of cases against companies regarding sealing breaches. The U.S. caps and closures for non-carbonated beverages market was valued at around USD2.64bn in 2016, registering a CAGR of 4.3% over 2016 to 2024. By the end of 2024, this re- venue is expected to reach USD3.82bn. Among material types used in the manufacture of caps and closures for non-carbonated beverages in the U.S., PP accounted for leading market share of 60.2% in 2016 and is expected to retain its lead as well as gain a maximum incremental opportunity in terms of market revenue over the coming years. However, HDPE is anticipated to witness the leading CAGR of 13% over the forecast period from 2016 to 2024, due to the cost advantages of HDPE over others as well as its easier availability, and the increasing adoption of HDPE one piece injection-moulded closures. The U.S. caps and closures market for non-carbonated bev- erages is segmented on the basis of cap types, into screw caps, snap on caps, and push on caps. On the basis of material, the market is segmented into PP, LDPE, HDPE, PVC and PET. On the basis of application, the U.S. caps and closures market for non-carbonated beverages is segmented into bottled water, fruit beverages, ready-to-drink milk, sports beverages and others. Bottled water industry leads demand The bottled water segment is estimated to account for the leading share in the U.S. caps and closures market for non- carbonated beverages in 2016, and is anticipated to expand at a CAGR of 6.1% over the given forecast period. Bottled water is expected to witness maximum increase in basis points during the forecast period, expectedly accounting for 69.3% of the U.S. caps and closures market for non-carbonated beverages by 2024. The ready-to-drink segment was calculated to account for 8.4% in 2016 and is expected to expand at a CAGR of 9.8% from 2016 to 2024. Key players in the U.S. caps and closure market for non- carbonated beverages so far have included Closure Systems International, Inc., Silgan Plastic Closure Solutions, Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., and Tecnocap S.p.A. www.transparencymarketresearch.com CHOOSE THE NUMBER ONE. BA C K T O LIFE. VAC U R E M A ® – F o o d Co nt ac t Ap pr ov ed Recycling :LWK KLJKO\ HˈFLHQW GHFRQWDPLQDWLRQ %()25( WKH H[WUXVLRQ SURFHVV Bottle-to-bottle Pelletising Inline Applications