NEWARK, Del, March 26, 2024 (GLOBE NEWSWIRE) -- The bottle cap market is estimated to reach a size of US$ 3.95 billion in 2024 and US$ 5.7 billion by 2034. The market share is expected to grow at a CAGR of 3.70% from 2024 to 2034, with the increasing demand for sealed or packaged products being a major contributor.
The food and beverage industries are major contributors to the production and demand for bottle caps, as consumers prefer products that have a longer shelf life and can be stored easily. Ongoing research and technological advancements in manufacturing high-quality and efficient caps have also accelerated their demand in multiple industries. With the growth of eCommerce, bottle caps have become an important part of the packaging process for products sold online, as they protect the products from spoilage, damage, and deterring.
Changing consumer preferences and market trends, such as the demand for sustainable and eco-friendly packaging, pose challenges for manufacturers. Heavy investments in existing and new market players to upgrade their manufacturing processes may cause depreciation, while the increasing regulations and environmental concerns regarding the disposal and recycling of plastic and other non-biodegradable bottle caps require more attention.
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The inherent design of roll-on pilfer-proof (ROPP) closures provides tamper-evident packaging solutions that generate trust among consumers that their product is untouched. ROPP closures also allow more branding elements to pop in, making the product stand out on the shelf.
“The market for bottle caps is expected to grow in the coming years due to increasing demand from the beverage industry and the rising popularity of convenience packaging. The adoption of eco-friendly and sustainable materials in the production of bottle caps is also likely to create new opportunities in the market,” Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study
- The bottle cap market in India can potentially increase at a 4.5 % CAGR through 2034.
- The market in China is projected to inflate at a CAGR of 4.2% through 2034.
- The market in Thailand is predicted to rise at a 4.2% CAGR through 2034.
- The market in the United States is estimated to rise at a 3.5% CAGR through 2034.
- The market in Spain is anticipated to develop at a CAGR of 3.1% through 2034.
- Based on the application, the packaging segment is expected to account for a share of 85.00% in 2024.
- ROPP or roll-on pilfer-proof material holds a share of 65.00% of the market in 2024.
Competitive Landscape
Major companies and manufacturers are expanding the bottle cap market by investing in research to create innovative and sustainable designs. Some are also partnering with startups focused on developing environmentally friendly bottle caps. The aim is to meet the growing demand for eco-friendly packaging options and stay competitive.
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Key Companies in the Market:
- E2Global
- Glassnow
- Auberst
- MJS Packaging
- Caplugs
- Illing Company
- Autronic Plastics
- Advantech Plastics
- Kaufman Container
- Canyon Plastics
- Valencia Plastics
- Containers Plus
- W.R. Kershaw
- Inmark
- Bulk Apothecary
- Genesis Industries
- Dahl-Tech
- Mr. Nozzle
- MATERIAL MOTION
Recent Developments
- In March 2024, Beyond Plastic launched a biodegradable bottle cap made of PHA, which was recyclable and compostable, thus revolutionizing sustainability in the beverage industry.
- Brandon B. and Denton B. from Clinton, UT invented The Mister Saver bottle cap, featuring two connected caps for transferring viscous products.
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Market Segmentation
By Material:
- ROPP
- PE
- PP
- PET
- Glass
By Application:
- Food & Beverages
- Pharmaceuticals
- Personal Care Products
- Cosmetic Products
- Household and Cleaning Products
By Neck Size:
- Up to 20 mm
- 21-28 mm
- 29-32 mm
- Above 32 mm
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About the Packaging Division at Future Market Insights.
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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