According to Custom Market Insights (CMI), the global caps and closures market was valued at approximately USD 67.14 billion in 2021 and is projected to reach USD 97.98 billion by the end of 2030, growing at a compound annual growth rate (CAGR) of approximately 5.1% during the forecast period from 2022 to 2030.

You can browse the full “Caps and Closures Market Size, Trends and Insights By Material Used (Plastic, Metals, Others), By Product (Dispensing Caps, Screw Closures, Aerosol Closures, Crown Closures, Other), By Application (Food and Beverages, Cosmetics and Toiletry, Healthcare, Pharmaceutical, Automotive, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at: https://www.custommarketinsights.com/report/caps-and-closures-market/

Market Dynamics

Drivers

The demand for bottled water in the beverage industry is expected to continue growing in the coming years. This increase is driven by the fact that there has been little change in consumer lifestyles across the globe, combined with rising per capita income. As income levels have increased, so has the demand for bottled water, particularly premium bottled water. This growth has created a need for packaging that prevents contamination and duplication of packaging, and tamper-evident seals have played a critical role in ensuring the integrity of the product.

Restraints

The growing preference for alternative packaging solutions that do not require caps or closures is expected to hinder the market's growth in the coming years. The rise of blister packaging and pouches is creating challenges for the traditional caps and closures market. These alternatives not only reduce packaging costs but are also more convenient for consumers, as they are easy to open and reseal. Many fast-moving consumer goods (FMCG) companies are increasingly using these pouches for packaging, which could impede the growth of the caps and closures market in the near future.

Opportunities

Increasing awareness of personal health is expected to drive demand for healthier food options, which will, in turn, create more opportunities for growth in the caps and closures market. The growing population, particularly in the Asia-Pacific region, will play a crucial role in this expansion. Additionally, the rising demand for child-safe containers is expected to create significant opportunities for market growth in the coming years.

Challenges

The increasing amount of packaging waste has negatively affected the ecosystem, as the decomposition of packaging materials takes decades. A large portion of caps and closures is made from plastic, which is a major pollutant and poses a significant environmental challenge. The degradation of plastic is a lengthy process, and recycling plastic products remains a challenge. Governments worldwide are imposing stricter regulations to reduce plastic use, further complicating the market's future growth.

In addition, the operational costs associated with the production of caps and closures are expected to increase as the use of plastic declines. The cost of procuring alternative raw materials will rise, which will impact the overall manufacturing costs in the future, presenting a challenge to market growth.

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Report Highlights

By Material Used

The plastic segment is expected to hold a larger market share in the coming years. Plastic is the most widely used material for manufacturing caps and closures due to its accessibility and low cost. Although the production of plastic caps and closures results in higher carbon dioxide emissions, the demand for these products has been rising in recent years. Governments are actively working to reduce plastic use in manufacturing caps and closures to lower the carbon footprint.

By Application

Caps and closures are widely used in the food industry, particularly in the food and beverages sector, and this demand is expected to continue growing. The increasing demand for a variety of beverages, including energy drinks and sports drinks, will significantly drive market growth in the years to come.

The pharmaceutical industry also relies on caps and closures for sealing bottles and medications to prevent contamination. These products are essential in ensuring the safety and integrity of pharmaceutical products. The automotive, cosmetics, and toiletries industries also use caps and closures extensively, with plastic closures being a popular choice due to their cost-effectiveness.

By Product Type

The dispensing caps are expected to see increased demand in the coming years. These caps come in various forms, such as triggers, pumps, and flip-tops, and offer the added advantage of controlled flow. The convenience of using dispensing caps, coupled with their ability to provide precise amounts of product, makes them a favorable choice for both manufacturers and consumers. This convenience and functionality will drive further growth in this segment.

Regional Snapshots

Asia-Pacific Region

The Asia-Pacific region is expected to hold a larger market share in the coming years. This region accounted for about 41% of the global market revenue in previous years. The high population density in many countries in the Asia-Pacific region, particularly in emerging economies such as South Korea, China, and India, will continue to fuel demand for caps and closures. Furthermore, the expansion of the food and beverages industry in this region, driven by the increasing population and rising disposable incomes, will be a key factor in the market's growth.

There is also growing demand for toiletries and cosmetics in the Asia-Pacific region, particularly in countries like South Korea and Japan. These factors will contribute to the continued growth of the caps and closures market in the region during the forecast period.

North American Region

The North American region has experienced a notable increase in the demand for both alcoholic and non-alcoholic beverages. Countries like the United States and Canada have seen a rise in the consumption of these beverages. The introduction of new beverages into the market is expected to help drive the growth of the caps and closures market in North America during the forecast period. Health-conscious consumers in North America are increasingly opting for juices and other healthy drinks, further boosting the demand for caps and closures.

Key Players

The market analysis includes an in-depth examination of key players operating in the caps and closures industry. The report provides financial statements, product benchmarking, and SWOT analysis for each of the major competitors. The competitive landscape section also includes an analysis of market share, key development strategies, and market positioning for these companies.

Prominent players in the caps and closures market include:

  • Crown

  • Ball Corp.

  • Silgan Holding, Inc.

  • BERICAP

  • Nippon Closures Co. Ltd.

  • Berry Global Inc.

  • AptarGroup Inc.

  • Sonoco Products Company

  • Amcor plc

  • Closure Systems International

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