U.S. caps and closures market to hit $9.5 billion by 2014: study
Demand for plastic caps and closures in the U.S. is forecast to increase 4.0 per cent per year to US$9.5 billi...
October 13, 2010 by Canadian Plastics
Demand for plastic caps and closures in the U.S. is forecast to increase 4.0 per cent per year to US$9.5 billion in 2014, reaching 275 billion units, according to a new study by market research firm The Freedonia Group.
According to the study, entitled “Caps and Closures”, advances will be aided by greater use of more expensive dispensing closures and child-resistant closures (CRCs). Unit gains will be supported by the continued popularity of single-serving containers, especially in the beverage market, and further inroads by plastic containers in applications formerly dominated by glass and metal containers.
The study also noted that pharmaceutical applications will register the fastest gains through 2014, aided by above-average growth among older segments of the population, which comprise many of the most intensive consumers of pharmaceuticals, and the need to comply with regulations and standards governing the child-resistant, senior-friendly and security features of pharmaceutical packaging.
For more information on the caps and closures report, click on this link.