Between 2022 and 2028, the global plastic caps and closures market is expected to increase at a CAGR of 5.2 percent, from USD 44.3 billion in 2020 to USD 57.0 billion in 2025. The market for plastic caps and closures is being driven by rising demand for bottled water, convenience, concerns about product safety and security, product distinctiveness and branding, and shrinking package sizes.
The influence of COVID-19 on the global market for plastic caps and closures
In 2020-2021, the worldwide plastic caps & closures market is predicted to have a modest slowdown in growth, as demand for plastic caps & closures used in personal & home care, automotive, and chemicals falls significantly. During COVID-19, however, demand for plastic caps and closures will rise in the food and beverage and pharmaceutical industries.
Due of the threat of lockdowns, people are panic-buying and bulk stocking. The need for plastic caps and closures is increasing as more individuals acquire daily essentials and fresh food via online channels. Many impacted countries’ governments, such as India’s, have requested food sector stakeholders to increase output in order to avoid supply-side shocks and shortages and ensure uninterrupted supply. More of these packaging products are being demanded by FMCG industries. Britannia Industries, for example, has requested the Indian government to ensure interstate movement of raw material and packaging material providers.
As hospitals, pharmaceuticals, and PPE makers respond to the crisis, demand for plastic caps and closures in the pharmaceutical business is projected to continue strong. The need for domestic staples, healthcare, and medical items is unlikely to decline significantly, and retail distribution of these products via online delivery is likely to expand. As a result, demand for plastic caps and closures rises in order to meet the demand for prompt delivery of raw materials and completed items to their respective end-users.
The Report Lists the Key Companies in the Long Term Care Insurance Market:
New York Life, Pacific Life, Lincoln Financial Group, Mutual of Omaha, Brighthouse Financial, OneAmerica Hybrid, GoldenCare, National Guardian Life, LTC Consumer, Minnesota Life, Transamerica, Nationwide, Thrivent, Bankers Life and Casualty, Prudential, UNUM, John Hancock, CNA, Genworth, AXA, State Life, and MassMutual.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other Long Term Care Insurance market trends. The report is available for sale on the company website.
Further, the report acknowledges that in these growing and promptly enhancing market circumstances, the most recent advertising and marketing details are very important to determine the performance in the forecast period and make essential choices for profitability and growth of the Long Term Care Insurance. In addition, the report encompasses an array of factors that impact the growth of the Long Term Care Insurance in the forecast period. Further, this specific analysis also determines the impact on the individual segments of the market.
Product Types: Between 18 and 64 ,Over 65 Years Old
On the Basis of Application: Traditional Long Term Care Insurance, Hybrid Long Term Care Insurance
Regional Analysis for Long Term Care Insurance Market :
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Long Term Care Insurance Market :
4.Key Long Term Care Insurance Market Insights
5.Global Market Analysis, Insights and Forecast, 2015-2027
6.North America Market Analysis, Insights and Forecast, 2015-2027
7.Europe Market Analysis, Insights and Forecast, 2015-2027
8.Asia Pacific Market Analysis, Insights and Forecast, 2015-2027
9.The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2027
10.Latin America Market Analysis, Insights and Forecast, 2015-2027
12.Global Long Term Care Insurance Market Revenue Share Analysis, By Key Players, 2021
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