That’s according to Strategic Analysis of the U.S. Plastic Closures Market, a new analysis from Frost & Sullivan.
The report says revenues in this market reached $2.93 billion last year, with that figure expected to climb to $3.89 billion in 2013. The beverage segment accounts for almost 33% of that demand, with soft drinks, bottled water, and coffee setting the pace. The analysis says that maturation in the U.S. beverage industry is causing beverage manufacturers to look for offshore growth, leading cap and closure makers to build capacity outside of the U.S. Food is the
next-largest segment, with the household and industrial chemical segment reported as one of the fastest-growing market segments for both dispensing and child-resistant closures.
Frost & Sullivan Research Analyst Urmilla Kishore adds, “Evolving customer needs are forcing plastic closure suppliers to constantly improve and enhance their product offerings.”
For more information, visit Frost & Sullivan.
