A detailed study on Overcaps market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
In 2023, the overcaps market, which is currently valued at US$ 38.5 billion, is expected to grow at a CAGR of 5.1%. Because to improvements in packaging, the industry is anticipated to grow to US$63.3 billion by 2033.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Overcaps market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Overcaps in the coming 10-years.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Overcaps
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Overcaps market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Overcaps Market Takeaways and Projections
- The U.S. is expected to lead the North America Overcaps market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Overcaps Historical Market Analysis: The detailed survey by FMI, examines key factors in the Overcaps market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Overcaps market for the forecast period 2022-2032.
- Overcaps Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Overcaps Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Overcaps for the assessment period. As per the study, the demand for Overcaps will grow at a robust CAGR between 2022-2032.
- Overcaps Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Overcaps market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Overcaps Market Trend Analysis: The latest study by FMI on the Overcaps market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Overcaps market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition. It also provides a list of leading players and recent development in the global Overcaps market. Key players operating in the global overcaps market are Berry Global Group, Inc., O.Berk Company, Huhtamaki Oyj, Clayton Corp., AptarGroup, Inc., IPL, Inc., Precision Valve Corporation, Cobra Plastics, Dubuque Plastics, IntraPac International LLC, and Rieke. A TriMas Corporation Company, among others. Many local and unorganized market players are contributing to the overcaps market globally.
Overcaps Market: Market Segmentation
The global Overcaps market is segmented by material type, width, and end use. The pricing for Overcaps has being done based on material type segment in US$ million, and the volume is considered in tonnes.
On the basis of material, the global overcaps market has been segmented as:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Metal
- Aluminum
- Steel
On the basis of diameter, the global overcaps market has been segmented as:
- Up to 30 mm
- 31 to 40 mm
- 41 mm to 50 mm
- More than 50 mm
On the basis of application, the global overcaps market has been segmented as:
- Cans
- Bottles
- Spray Pumps
On the basis of end-use industries, the global overcaps market has been segmented as:
- Food & Beverages
- Automotive
- Paints & Coatings
- Personal Care and Cosmetics
- Healthcare and Pharmaceuticals
- Consumer Goods
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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