Selbyville, Delaware, Sept. 27, 2023 (GLOBE NEWSWIRE) --
Caps and Closures Market size is expected to be worth USD 119 billion by 2032. Growing environmental awareness and regulatory pressures have accelerated the shift towards more sustainable packaging solutions. This includes the development of eco-friendly caps and closures made from recyclable or biodegradable materials, as well as reducing material usage through weight reduction. Sustainability concerns are influencing consumer choices and manufacturers to adopt more environmentally friendly practices.
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For instance, Arla Foods, a Denmark-based dairy company, partnered with Blue Ocean Closures in July 2023, to create innovative caps made of fiber for its milk cartons. This pioneering collaboration is poised to reduce Arla's plastic consumption by more than 500 tonnes annually, marking a potential industry-first achievement. Under this joint venture, Arla will provide funding to support the development and testing of the fiber-based caps. Blue Ocean Closures aims to deliver a fully functional prototype, with testing scheduled to conclude by early next year.
Rubber caps and closures to witness high sales
The rubber caps and closures market size will expand dramatically over 2023-2032, driven by the versatile sealing properties of rubber caps and closures, ensuring product integrity across various industries. For instance, in the pharmaceutical sector, the need for airtight closures to maintain drug efficacy fuels demand. Likewise, the automotive industry relies on rubber caps to seal critical components, preventing contamination. Additionally, in food packaging, rubber closures enhance freshness and extend shelf life. Overall, the reliability and effectiveness of rubber caps make them indispensable in preserving product quality and safety across diverse applications.
Demand for flip-top caps to gain traction
The flip-top caps segment could dominate the caps and closures market share by 2032. Flip-top caps and closures are experiencing increased sales due to their user-friendly design and convenience. Consumers prefer these closures as they offer easy one-handed operation, making them ideal for on-the-go use. For instance, in the personal care industry, flip-top caps are commonly used for shampoo and lotion bottles, enhancing user experience. Additionally, their resealable nature preserves product freshness, reducing waste. This popularity has extended to various sectors, including food and beverage, where flip-top caps are chosen for their practicality and hygiene.
Europe to dominate the regional landscape
Europe caps and closures market is experiencing robust increase due to several key factors. Stringent quality and safety regulations have prompted increased adoption of tamper-evident and child-resistant closures, particularly in the pharmaceutical and food sectors. For instance, in January 2023, Berry introduced a tethered closure for Coca-Cola in compliance with the EU Single-Use Plastics Directive. These closures use Berry's CompactFlip hinge to stay connected to bottles up to three liters, in line with the directive starting in July 2024. Over 400 million of these closures have already been utilized in Germany, Spain, and the UK, with further deployment planned across Coca-Cola's European facilities.
Besides, growing consumer awareness of sustainability has driven demand for eco-friendly closures made from recyclable materials. European companies are adopting innovative closure technologies to meet these demands, such as the development of biodegradable closures for packaging in response to environmental concerns, contributing to the industry's expansion in the region.
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Caps and Closures market leaders
Notable companies in this business vertical include Silgan Holdings Inc. Crown Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Pact Group Holdings Ltd., Bericap GmbH & Co. KG, Reynolds Group Holdings Limited, Berry Global Group, Inc., Amcor plc, AptarGroup, Inc., Comar, LLC, RPC Group Plc, Guala Closures Group, O.Berk Company, LLC, TriMas Corporation (Rieke Packaging Systems), Closure Systems International, Inc.
These companies prioritize strategic partnerships, the launch of new products, and effective commercialization strategies to expand their caps and closures market presence. For instance, in December 2022, Blue Ocean Closures received a second investment from co-owner ALPLA Group to expedite the advancement of environmentally friendly caps and lids. The company's screw caps, made from cellulose and water-resistant paper fiber, are not only durable but also easily recyclable within existing paper recycling systems. They boast complete biodegradability in both soil and the ocean, achieving this feat within a matter of weeks.
Partial Table of Contents (ToC) of the report:
Chapter 3 Caps and Closures Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By material type
3.3.2 By technology
3.3.3 By closure size
3.3.4 By product type
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of Russia Ukraine war
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Strategy dashboard
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