To create repeat customers, brands must consistently deliver on their product promises. As beverage SKU proliferation continues, manufacturers and their caps and closures suppliers must stay up-to-date with the latest market and consumer trends in order to do so. According to Cleveland-based The Freedonia Group’s 2017 “Global Plastic Caps & Closures by Product, Market and Region” report, beverage caps and closures accounted for 66 percent of the overall global caps and closures market in 2016, and will continue to account for a majority of the demand in the future.
However, the market research firm notes that several major caps and closures applications for beer and carbonated soft drinks will lag, while bottled water applications will continue to grow.