As per the report titled ‘Global Tube Closures Market Size study, by Product (Screw Closures, Snap Closures, Flip Flop Closures, Others), by Material (Plastic, Metal), by End-Use (Food, Cosmetic & Personal Care, Homecare, Pharmaceuticals, Chemicals, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global tube closures market is anticipated to register a healthy growth rate throughout 2021-2027.
 

Global tube closures market is anticipated to witness considerable expansion in the forthcoming years due to escalating demand for tubes as a convenient packaging solution and emergence of eco-friendly products in this space.
 

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For the uninitiated, tube closures are utilized as a closing mechanism for sealing or packaging a product. They seal or pack tubes that are used across various end-use industries.
 

Experts cite that rising focus of players towards production capacity expansion and product portfolio through mergers and acquisitions are anticipated to positively impact the business landscape. For Instance, Bericap Holding GmbH in June 2021 announced the acquisition of Mala Verschluss-Systeme GmbH with a goal of extending its product portfolio of aluminum closures.
 

Despite the positive outlook, government restrictions may impede progress in the forthcoming years, claims the study.
 

Considering the geographical viewpoint, the size and scope of global tube closures market are majorly defined by North America (U.S., Canada), Europe (U.K., Germany, Spain, France, Italy), Asia Pacific (India, China, Japan, South Korea, Australia), and Latin America (Mexico, Brazil).
 

North America market is expanding at a robust pace due to the high penetration of tube closures across various end-user industries. Parallelly, Asia Pacific market is touted to garner strong returns through 2027, creditable to the rapid growth of the cosmetic & personal care industry in the region.
 

Speaking of the competitive backdrop, Hicap Closures Co., Ltd., Closure Systems International, Aptar Group Inc., Bericap Holding GmbH, DWK Life Sciences, Giflor S.r.l., Silgan Holdings Inc., Berry Global Inc., Comar LLC, and Shandong Jiuxing Packing Co., Ltd. are the top contenders in the market.