Richmond, Jan. 22, 2024 (GLOBE NEWSWIRE) -- According to a research report "Caps & Closures Market”, By Source (Single Strain, Multi Strain, Dropper Caps, Anti-Counterfeit Caps, Others), Material, Application (Cosmetics/Beauty Care, Pharmaceuticals) and Region - Global Forecast to 2030.
Global Caps & Closures Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 8.9 Billion |
| Market size value in 2030 | USD 13.1 Billion |
| CAGR (2023-2030) | 5.3% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Source, Material, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
| |
| |
| Sample of Companies Covered |
|
| |
|
Download the Sample - https://www.marketdigits.com/request/sample/3433
TOC Covers in Depth & Breath on Caps & Closures Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global caps and closures market is witnessing robust growth, driven by evolving consumer preferences, technological advancements, and a surge in end-use industries such as food and beverage, pharmaceuticals, and personal care. The market is characterized by a dynamic landscape, with several trends shaping its trajectory. Key market dynamics include a growing emphasis on sustainable and eco-friendly packaging solutions, a rise in demand for tamper-evident and child-resistant closures, and a continuous innovation in materials and design to enhance product functionality and aesthetics.
One of the notable trends in the caps and closures market is the increasing adoption of smart packaging technologies. Smart closures equipped with RFID tags and other sensors are gaining traction, providing manufacturers and consumers with real-time information on product integrity and freshness. This trend aligns with the broader industry shift towards digitization and the Internet of Things (IoT), contributing to improved supply chain management and enhanced consumer experiences.
Geographically, Asia-Pacific dominates the caps and closures market, owing to the rapid expansion of end-use industries, urbanization, and a burgeoning middle-class population. China and India emerge as key growth drivers, with a rising demand for packaged goods and an increasing focus on product safety and convenience. North America and Europe also play significant roles, driven by consumer preferences for convenience packaging and stringent regulations related to product safety and tamper-evident closures.
Leading players in the caps and closures market include multinational companies such as Crown Holdings Inc., Berry Global Group Inc., Amcor Limited, and AptarGroup Inc. These companies continue to invest in research and development to introduce innovative solutions, expand their product portfolios, and strengthen their market presence. Collaborations, mergers, and acquisitions are prevalent strategies among key players to capitalize on emerging opportunities and address evolving market demands.
The caps and closures market is poised for sustained growth, fuelled by technological advancements, changing consumer preferences, and the increasing importance of sustainable packaging solutions. The dominance of Asia-Pacific, coupled with ongoing innovation by key players, positions the industry for continued expansion in the coming years.
Major vendors in the global Caps & Closures Market :
- RPC Group PLC
- Crown Holdings Incorporation
- Amcor Limited Plc
- Rexam PLC
- Berry Plastics Corporation
- Silgan Holdings Inc.
- AptarGroup Incorporated
- Guala Closures Group
Request for Discount @ https://www.marketdigits.com/request/discount/3433
Rising Demand for Convenience Packaging
The cap and closures market has experienced a surge in demand, primarily driven by the growing preference for convenience packaging. In recent years, consumers have increasingly sought products that offer ease of use, portability, and reseal ability, leading to a significant uptick in the adoption of convenience-oriented packaging solutions. One notable instance highlighting this trend is the increased demand for single-serve and on-the-go packaging formats across various industries, including food and beverages. Consumers' busy lifestyles and a heightened focus on convenience have prompted companies to invest in innovative cap and closure designs that enhance product accessibility and freshness while minimizing spillage and waste. As a result, the cap and closures market has become a pivotal player in addressing consumer needs for efficient and user-friendly packaging solutions, reflecting a broader shift in preferences towards convenience in the modern marketplace.
Consumers are increasingly gravitating towards natural and organic cosmetics, which often require specialized packaging to maintain their quality and freshness. Closures that offer excellent barrier properties and airtight seals are crucial for these products. Convenient packaging can improve patient adherence to medication regimens. This is especially important for chronic conditions where patients need to take medication multiple times a day. Easy-to-open closures and child-resistant options are key features in this regard. In instance, Rieke introduces a new line of child-resistant caps. These caps, designed specifically for nutraceutical products, come in 53mm and 63mm diameters. Rieke's Child Resistant Caps prioritize reduced plastic usage while maintaining a strong emphasis on durability and functional performance.
Growing Focus on Sustainability and Light weighting
The cap and closures market is experiencing a significant drive towards sustainability and light weighting, propelled by an increasing global awareness of environmental concerns and a growing emphasis on eco-friendly practices. As consumers become more environmentally conscious, there is a heightened demand for packaging solutions that prioritize sustainability throughout their lifecycle. This has led to a shift in the cap and closures industry towards the development of lightweight and recyclable materials, reducing the overall environmental impact. Companies are increasingly choosing sustainable materials for their caps and closures, such as bio-based plastics, recycled content, and compostable materials. This reduces the environmental impact of packaging and aligns with consumer preferences for eco-friendly products. For example, Coca-Cola has developed a PlantBottle cap made from sugarcane-derived plastic, which reduces its carbon footprint by 30%.
Manufacturers are increasingly investing in research and innovation to create packaging solutions that not only meet functional requirements but also align with sustainability goals. Light weighting, in particular, has become a key focus area, as it not only minimizes material usage but also reduces transportation-related emissions, contributing to a more eco-efficient supply chain. By incorporating sustainable materials and manufacturing processes, the cap and closures market aims to address concerns related to plastic pollution and waste, catering to a consumer base that values environmentally friendly products. Lightweighting is a key strategy for reducing the environmental impact of caps and closures. By using less material, manufacturers can reduce energy consumption and greenhouse gas emissions during production and transportation. For example, Closure Systems International has developed a lightweight sports cap that uses 20% less plastic than traditional designs.
Market Dynamics
Drivers:
- Rising Consumer and Industrial Goods Demand
- Technological Advancements and Innovation
- Increasing Sales in the Beverage Sector
- Increasing Emphasis on Sustainability
Opportunities:
- Material Innovations: Paving the Way for Advanced Caps and Closures
- Sustainability Drive: Eco-Friendly Caps and Closures on the Rise
- Smart Packaging Revolution: Caps and Closures with Tech Integration
- Branding Power: Customization Trends in Caps and Closure Solutions
Exploring the Versatility and Functionality of Flip-Top Caps in Packaging Solutions
The Flip Top Cap serves as a closure mechanism designed for bottles and containers, allowing effortless one-handed opening and closing. This innovative design facilitates the dispensing of the product within the container without the need for unscrewing or fully removing the cap. Widely utilized in the packaging of personal care items like shampoos, body washes, and hand sanitizers, the flip-top cap is a popular choice for its user-friendly functionality. It is also commonly employed in the packaging of food products such as sauces, dressings, and condiments. Apart from its convenient operation, the flip-top cap ensures a secure seal to prevent any leakage or spills during usage. Typically crafted from lightweight, durable, and cost-effective plastics like polyethylene or polypropylene, these caps are designed to offer both practicality and reliability in packaging solutions.
The flip-top cap finds frequent application in the medical and pharmaceutical industry, particularly for pill bottles and liquid medications. Its secure closure not only preserves the freshness of the product but also shields it from potential contamination. Meanwhile, turn-on caps are commonly employed in various personal care items like shampoo, conditioner, body wash, and lotion. Aside from facilitating easy product dispensing, their hinged lids play a crucial role in averting spills and leaks, ensuring a mess-free and convenient user experience. In instance October 2022, Takemoto Yohki Co., Ltd. Two new Single Strain and a pump over cap have been added to lineup of matte-finish accessories. The soft and tactile matte texture presents a refined image and can add value to product. A flip-top bottle cap serves as a closure mechanism for bottles and containers, featuring a hinged top that can be effortlessly opened and closed with just one hand. This design streamlines the dispensing process, eliminating the need to unscrew or fully remove the cap. Widely applied in packaging various personal care products, such as shampoos, body washes, and hand sanitizers, the flip-top closure is valued for its convenience and user-friendly operation.
Designed with ease of use in mind, turn-on caps offer a practical solution for on-the-go situations, allowing swift, one-handed opening and closing. This design is particularly advantageous for quick and hassle-free dispensing of products contained within the bottle. Beyond convenience, flip-top closures can incorporate safety features like child-resistant mechanisms, mitigating the risk of accidental ingestion or exposure to potentially harmful substances. In addition to user convenience and safety, these caps provide a reliable protective seal, guarding the product against contamination, moisture, and environmental factors that could compromise its quality. This Source of cap majorly used in cosmetics products.
Innovative Trends in North America's Caps and Closures Market: Catering to Specific Needs in Consumer Packaging
The robust growth of the consumer and industrial goods sectors in North America is driving an increasing demand for advanced packaging materials capable of withstanding challenging conditions without compromising product quality. Significant investments are being directed towards the development of plastic caps and closures, specifically tailored to meet the unique needs of end-users, particularly in sectors like household chemicals.
Plastic caps and closures play a crucial role in preserving the freshness and characteristics of packaged products, offering features such as leak resistance and protection against contamination. Additionally, they contribute to factors such as visual appeal, brand differentiation, and consumer convenience. Their significance is highlighted in the packaging industry, acting as a key driver for market growth. The North American market is poised to maintain a steady momentum, fueled by the increasing demand for packaged products, with the food and beverage industry emerging as a major contributor to the caps and closures market in the United States.
According to data from the US-based National Retail Solutions (NRS), independently owned convenience stores in North America experienced a noteworthy 4.6% year-on-year growth in July 2021. The use of caps and closures is further accelerated by heightened sales of beverages, with beer, flavored malt beverages (FMBs), and hard cider witnessing a remarkable 10.7% growth in July 2021 across nearly 12,000 individual outlets, compared to a 7.5% year-to-date basis.
The caps and closures market in North America displays a notable degree of fragmentation, with innovation in design, technology, and application serving as a key avenue for establishing a sustainable competitive advantage. Over the past decade, market penetration levels have seen substantial growth, driven by increasing demand from the cosmetics and pharmaceutical industries in the region. The market is also witnessing various mergers and acquisitions, signaling strategic developments within the industry.
In October 2021, a collaboration between Albéa, Berry, and Verfora resulted in the creation of a cap specifically tailored for joint pain relief, intended for Verfora's PERSKINDOL DOLO GEL 100ml tube. This innovative cap aims to streamline the opening of pain relief ointment tubes for individuals dealing with arthroses or arthritis, ensuring ease, comfort, and a painless experience. Launched in the Swiss market, the product garnered attention at Pharmapack in Paris, reflecting the commitment of the North American market to addressing specific needs through inventive solutions.
Inquire Before Buying: https://www.marketdigits.com/request/enquiry-before-buying/3433
Browse Similar Reports:
Plastic Caps & Closures Market 2030 By Material (Thermoplastic, Thermosets), By Caps Type (Screw Closures, Snap Closures, Push-Pull Closures, and Others), By End Use Industry (Food & Beverages, Pharmaceutical, Consumer Goods, Personal Care & Cosmetics, and Others), and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Molded Fiber Pulp Packaging Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Packaging Foams Market 2030 By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
About MarketDigits:
MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.
We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.
Contact Us:
MarketDigits
1248 CarMia Way Richmond,
VA 23235,
United States.
USA: +1 847 450 0808
Email: sales@marketdigits.com
Web: https://www.marketdigits.com
Follow Us on: | Twitter | LinkedIn |
