The prediction comes from World Caps & Closures, a new study from The Freedonia Group (www.freedoniagroup.com).
Globally, sales are forecast to rise 4.8% annually between 2004 and 2009 (see StatShots, page 17). Behind the increased cap and closure sales, says the report, are accelerating economic growth and rising personal incomes, especially in the world’s emerging economies.
Increased use of closures in traditionally “closure-less” packaging, such as gable-top and aseptic drink cartons and plastic pouches, will help U.S. sales. Globally, the report says, above-average gains are expected in emerging markets, Asia in particular. China is expected to surpass the U.S. as the largest closure market in terms of number of units.
The study says that beverages will remain the dominant end-use market, accounting for two-thirds of closure demand three years from now. Sports drinks and flavored milks will help drive closure usage. Another healthy growth area, particularly in developing countries, is anticipated in consumer chemical markets such as cosmetics, toiletries and household cleaners. Call 440/684-9600 for the 313-page report, available for $5겨.