Wilmington, Delaware, United States, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The global child-resistant closures market is projected to flourish at a CAGR of 5.1% from 2022 to 2027. As per the report published by Transparency Market Research, a valuation of US$ 2.4 billion is anticipated for the market in 2031. As of 2023, the market for child-resistant closures is expected to close at US$ 2.1 billion.
Growing awareness among consumers and parents about the importance of child safety has driven the demand for child-resistant closures. Parents and caregivers seek products with child-resistant packaging to reduce the risk of accidental poisonings or access to hazardous materials.
The pharmaceutical and healthcare sectors are major users of child-resistant closures due to the need to protect patients, especially children, from accidental ingestion of prescription medications and over-the-counter drugs. A rise in awareness about the safety of children while dealing with pharmaceutical products is expected to boost the demand for child-resistant packaging solutions. Child-resistant closures are the preferred option for safe and secure packaging in pharmaceuticals in order to cut down on intoxication cases.
Industries dealing with chemicals, cleaning products, pesticides, and other hazardous materials require child-resistant closures to protect both children and adults from accidental exposure or ingestion, driving the market demand.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.8 Bn | |
| Estimated Value | US$ 2.4 Bn | |
| Growth Rate - CAGR | 5.1% | |
| Forecast Period | 2022-2027 | |
| No. of Pages | 204 Pages | |
| Market Segmentation | By Material, Closure Type, Tamper Evidence, End Use | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
| Companies Covered | Closures Systems International, Inc., Silgan Plastic Closures Solutions, BERICAP GmbH & Co. KG, Parekhplast India Limited, Aptar Group, Inc., Berry Global, Inc., Amcor plv, Blackhawk Molding Co. Inc., CL Smith Company, Georg MENSHEN GmbH & Co. KG, Mold-Rite Plastics LLC, United Caps Luxembourg S.A., Guala Closures S.p.A., Plastic Closures Limited, Weener Plastik GmbH, Tecnocap S.p.A. | |
Key Takeaways from the Market Study
- As of 2022, the child-resistant closures market was valued at US$ 1.9 billion
- By material, the polypropylene segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on closure type, the push and turn segment is anticipated to dominate the industry during the forecast period
- Based on end-users, the pharmaceutical segment is expected to generate high revenue during the forecast period.
Child Resistant Closures Market: Key Trends and Opportunistic Frontiers
- The rise of e-commerce and online retailing has increased the need for secure packaging that meets child-resistant standards. Products sold online often require tamper-evident and child-resistant closures to ensure safety during shipping and storage.
- Ongoing advancements in closure technology have led to the development of more user-friendly child-resistant closures that meet regulatory requirements. These innovations have expanded the market by addressing the concerns of manufacturers and consumers.
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Child Resistant Closures Market – Regional Analysis
- North America is projected to dominate the global child-resistant closures market during the forecast period due to the increase in demand for safe and child-resistant packaging for different pharmaceutical, chemical, and household and personal care products in the region. The United States Consumer Product Safety Commission (CPSC) sets stringent regulations for child-resistant packaging, especially for pharmaceuticals and cannabis products.
- Asia Pacific is expected to account significant market for child-resistant closures has been growing due to increased manufacturing activities and the pharmaceutical industry's expansion. Regulations related to child-resistant packaging have become more stringent. India's market is evolving, with pharmaceutical companies adopting child-resistant closures in line with global safety standards.
Competitive Landscape
The global child-resistant closures market is fragmented, with the presence of large numbers of manufacturers that control the majority of the share. Mergers and acquisitions and the development of product portfolios are prominent strategies adopted by key players. Transparency Market Research has profiled the following players in its global child-resistant closures market report:
- Closures Systems International, Inc.
- Silgan Plastic Closures Solutions
- BERICAP GmbH & Co. KG
- Parekhplast India Limited
- Aptar Group, Inc.
- Berry Global, Inc.
- Amcor plv
- Blackhawk Molding Co. Inc.
- CL Smith Company
- Georg MENSHEN GmbH & Co. KG
- Mold-Rite Plastics LLC
- United Caps Luxembourg S.A.
- Guala Closures S.p.A.
- Plastic Closures Limited
- Weener Plastik GmbH
- Tecnocap S.p.A.
Key Developments in the Child-Resistant Closures Market
- Berry Global has been active in developing child-resistant closures, including push-and-turn caps and squeeze-and-turn closures. They focus on user-friendly designs while meeting stringent child-resistant requirements.
- Amcor offers a range of child-resistant packaging solutions, including closures for pharmaceuticals and cannabis products. They emphasize sustainable packaging and recyclability.
- AptarGroup specializes in innovative packaging solutions, including child-resistant closures with various opening mechanisms. Their focus is on ease of use for adults while ensuring child safety.
- BERICAP provides child-resistant closures for various industries, including pharmaceuticals, chemicals, and personal care. They have worked on improving tamper-evident features and senior-friendly designs.
Partial Table of Content (ToC):
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. TMR Analysis and Recommendations
2. Market Viewpoint
2.1. Market Definition
2.2. Market Taxonomy
3. Child Resistant Closures Market Overview
3.1. Introduction
3.2. Global Child Resistant Closures Market Overview
3.3. Child Resistant Closures Market (US$ Mn) and Forecast
3.4. Value Chain Analysis
3.4.1. Exhaustive List of Active Participants
3.4.1.1. Raw Material Suppliers
3.4.1.2. Child Resistant Closures Manufacturers/Distributor
3.4.1.3. End Users/Customers
3.4.2. Profitability Margins
3.5. Macro-economic Factors – Correlation Analysis
3.6. Forecast Factors – Relevance & Impact
4. Impact of COVID-19
4.1. Current Statistics and Probable Future Impact
4.2. Impact of COVID-19 on Target Market
5. Child Resistant Closures Market Analysis
5.1. Pricing Analysis
5.1.1. Pricing Assumption
5.1.2. Price Projections By Region
5.2. Market Size (US$ Mn) and Forecast
5.2.1. Market Size and Y-o-Y Growth
5.2.2. Absolute $ Opportunity
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Child Resistant Closure Market – Key Segments
Material
- Polypropylene
- Polyethylene
- Other Plastics
Closure Type
- Push & Turn
- Squeeze & Turn
- Others (Dropper Caps)
Tamper Evidence
- Tamper Evident
- Non Tamper Evident
End Use
- Pharmaceuticals
- Household & Personal Care
- Chemicals & Fertilizers
- Others (Food & Beverage, Automotive, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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