Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The global caps and closures market size was valued at USD 69.88 billion in 2022 and is projected to grow from USD 73.49 billion in 2023 to USD 111.02 billion by 2030, exhibiting a CAGR of 6.07% during the forecast period.
There is an enormous range in the shapes and sizes of caps and closures. Depending on the specifications and intended application, they can be made of cork, metal, plastic rubber, or other materials. The growing demand for convenient and environmentally friendly packaging alternatives is driving the global market. Fortune Business Insights presents this information in their report titled "Global Caps and Closures Market, 2023–2030."
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List of Key Players Profiled in the Caps and Closures Market Report:
- BERICAP Holding GmbH (Germany)
- Guala Closures S.p.A (Italy)
- Closure Systems International, Inc. (U.S.)
- Amcor Plc (Australia)
- Silgan Holdings Inc. (U.S.)
- Aptar Group (U.S.)
- UNITED CAPS (Luxembourg)
- Nippon Closures Co., Ltd. (Japan)
- Mold-Rite Plastics, LLC (U.S.)
- O.Berk Company, LLC (U.S.)
- Pelliconi & C. Spa. (Italy)
- Weener Plastics (Netherlands)
- Blackhawk Molding Co. Inc. (U.S.)
- C. L. Smith Company (U.S.)
- Elmoris, Jsc (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.07% |
| 2030 Value Projection | USD 111.02 billion |
| Market Size in 2022 | USD 69.88 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 230 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Caps & Closures Market Growth Drivers | High Income Changing Lifestyle Boosts Market in Europe |
| Safety and Convenience Offered by Caps & Closures to Increase Demand |
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Segments:
Several Features Offered by Plastic Propels Demand
Based on the material, the market is segmented into plastic, metal, and others. Due to plastics’ chemical stability and cost-effectiveness, it dominates the caps & closures market.
Screw Caps Leads the Market due to Safety Features
Based on the product type, the market is segmented into tethered caps, push/pull caps, screw caps, and others. High sealing capability, child-resistant, and convenience primarily drive the screw caps market.
Brand Recognition due to Attractive Packaging Drives Segmental Growth
Based on the end-use industry, the market is segmented into food & beverages, pharmaceutical, consumer goods, personal care & cosmetics, and others. The food & beverages segment dominates the market as caps and closures create brand awareness among consumers.
Geographically, the caps & closures market is studied across North America, South America, Europe, Asia Pacific, and the Middle East and Africa.
COVID-19 Impact:
Market Observed Growth During Pandemic Due to Increased Demand from Cosmetic Industry
The supply chain was interrupted by the mandated closures and lockdowns during the early phases of the pandemic. The manufacturing and delivery of raw materials and completed goods were both delayed. The market for caps and closures witnessed growing demand from sectors including food & beverage and pharmaceuticals, while demand declined in some sectors like cosmetics and personal care.
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Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Safety and Convenience Offered by Caps & Closures to Increase Demand
The urban population tends to consume food and beverages available in packaged form as they keep the product fresh, are convenient, and offer an air-tight seal to keep the food items safe from bacteria. Therefore, during the projected period the caps & closures market share is anticipated to increase. On the contrary, alternative packaging options like blisters, pouches, and others that are cost-effective may stifle the caps & closures market.
Regional Insights
High Income Changing Lifestyle Boosts Market in Europe
Europe is one of the dominating regions of the caps and closures market as changing lifestyles and increased disposable incomes have led to a huge demand for alcoholic beverages, carbonated drinks, and other items. Increased demand from the cosmetics industry also drives the caps & closures market. North America also has a large share due to rising innovations, key manufacturers, and the processed food and healthcare sector.
Competitive Landscape
Companies Focus on Producing Creative Packaging Solutions to Foster Growth
Much fragmentation and competition exist in the caps & closures global market. Due to their creative packaging offerings in the packaging sector, a select few significant businesses control a considerable market share. The market's leading companies concentrate on innovation, grow the market's revenue, and diversify their client base across the geographies.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Caps & Closures Market
- Global Caps and Closures Market Analysis (Billion Units, USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Plastic
- Metal
- Others
- Market Analysis, Insights and Forecast – By Product Type
- Tethered Caps
- Push/Pull Caps
- Screw Caps
- Others
- Market Analysis, Insights and Forecast – By End-use Industry
- Food & Beverages
- Pharmaceutical
- Consumer Goods
- Personal Care & Cosmetics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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Key Industry Development:
- August 2022 - Weener Plastics launched a revolutionary spray system for aerosol spray caps with an insert: the Ultimate Spray System (USS). This excellent performance and sustainability are the result from material used for the insertion and the smart design of the spray cap.
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