Caps & Closures Market Report, published by Allied Market Research, projects that the global market is expected to reach $56,057 million by 2022 from $39,200 million in 2015, registering a CAGR of 5.3% from 2016 to 2022. The bottled water and non-alcoholic beverage application segments are expected to grow at significant CAGRs of 5.9% and 5.6%, respectively, in terms of revenue.