Global Caps & Closures Market Insights Forecasts to 2032
- The Global Caps & Closures Market Size was valued at USD 81.21 Billion in 2022.
- The Market is Growing at a CAGR of 6.18% from 2022 to 2032
- The Worldwide Caps & Closures Market Size is expected to reach USD 147.88 Billion by 2032
- North America is expected to grow the fastest during the forecast period
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The Global Caps & Closures Market Size is expected to reach USD 147.88 Billion by 2032, at a CAGR of 6.18% during the forecast period 2022 to 2032.
Caps and closures are used to seal containers and prevent product from leaking. They are an essential part of many packaging-related industries, including food and beverage items, cosmetics, and pharmaceuticals. However, caps and closures can be designed of a number of materials, the majority are made of plastic or metal. They are made to provide a reliable and secure closure that safeguards the contents of the package from moisture, air, and other impure substances. Caps and closures come in a variety of sizes and shapes. They can be formed of metal, plastic, rubber-based products, cork, or various other substances, according to the requirements and needs. They are an important component of packaging in numerous industries, including food and beverage, pharmaceutical, cosmetics, and household products. Caps and closures extend the shelf life of a product, allowing brands to maintain product quality and value in the marketplace. The global market is being pushed by rising demand for convenient packaging solutions and environmentally friendly packaging options. Because of its ease of use, durability, and low cost, plastic caps and closures are the most often used variety. Over the forecast period, the rising environmental sustainability inclination will provide profitable opportunities for market expansion.
Global Caps & Closures Market Report Coverage
|Market Size in 2022:||USD 81.21 Billion|
|Forecast Period 2022-2032 CAGR:||6.18%|
|2032 Value Projection:||USD 147.88 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Type, By Material, By Application, By Region and COVID-19 Impact Analysis|
|Companies Covered:||Silgan Holdings Inc., Aptar Group, UNITED CAPS, Nippon Closures Co., Ltd., Mold-Rite Plastics, LLC, O.Berk Company, LLC, BERICAP Holding GmbH, Guala Closures S.P.A, Closure Systems International, Inc., Amcor Plc, Pelliconi & C. Spa., Weener Plastics, Blackhawk Molding Co. Inc., C. L. Smith Company, and Other Market Players.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenges, Future, Growth, & Analysis|
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The increasing demand for caps and closures is closely related to growing urbanization. Urban consumers prefer convenient and on-the-go packaging solutions for food and beverage products. Caps and closures play an important role in providing convenience by ensuring that products are simple to open and close and that they can be consumed without spilling. Caps and closures provide an airtight seal, preventing bacteria from entering and keeping the product fresh for a longer period of time. They address the growing concern about food and beverage product safety and hygiene by preventing spoilage. Manufacturers also provide various customization options that are more appropriate for the product, which helps retain customers and expand their market globally. Furthermore, According to the International Bottled Water Association, the growing population of high-net-worth people (HNWI) is a major factor influencing bottled water premiumization. Such people prefer high-priced bottled water to regular bottled water. The consumer enthusiasm for products perceived as a healthier alternative to other beverages is driving demand for bottled water and, eventually, caps and closures.
The increased use of packages without seals, such as pouches and blister packages, harms the growth of the caps and closures market. These types of packaging provide numerous advantages to the packager, including lower material costs compared to traditional rigid packaging methods and concerns about sustainability. Another food and beverage packaging option is the pouch packaging format, which is being used by a number of FMCG companies as a packaging innovation tool to provide more convenience to consumers. Several new easy-open and easy-reclose options are being added to the vast array of design options available in all applications.
By Type Insights
The screw caps segment dominates the market with the largest revenue share over the forecast period.
On the basis of type, the global caps & closures market is segmented into tethered caps, push/pull caps, and screw caps. Among these, the screw caps segment is dominating the market with the largest revenue share over the forecast period. Screw caps have grown in popularity because they are extremely convenient. They do not require any unique opening equipment, unlike corks, and can be easily opened with your hands. This makes them perfect for outings, weekend getaways, or any other situation where a corkscrew is not required. Screw caps offer savings in the cost of storage in addition to lower production costs. Screw caps, on the other hand, can be maintained vertically without difficulty, saving money on storage.
By Material Insights
The plastic segment is witnessing significant CAGR growth over the forecast period.
On the basis of the material, the global caps & closures market is segmented into plastic, metal, and wood. Among these, the plastic segment is witnessing significant growth over the forecast period. Plastics are the most often recycled materials. Plastic caps, like most common plastic products, offer multiple advantages, including low cost, durability, customizability, and chemical stability. These benefits amount to unusual financial savings and business reliability in the many applications where plastic caps are appropriate. Plastic caps are used in a variety of industries including furniture design, chemical storage, medical supplies, and electronic supplies. A camera lens cap, for instance, is a specialized shape and design of a plastic cap. Another specialized design on medicine bottles provides both safety for kids and storage advantages.
By Application Insights
The food & beverages segment is expected to hold the largest global caps & closures market share during the forecast period.
On the basis of the protection level, the global caps & closures market is segmented into food & beverages, pharmaceuticals, consumer goods, personal care & cosmetics. Among these, the food & beverages segment is witnessing significant growth over the forecast period. Beverage packaging is used to extend the shelf life of products while preserving their flavor and texture. The packaging ideas such as pouches and cartons are increasingly being used in the beverage packaging industry. The market for premium caps in the beverage industry is driven by the demand for advanced differentiating closures from the world's leading beverage companies. Non-alcoholic beverages can be sealed or packaged using a variety of caps and closures.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific dominates the market with the largest share over the forecast. The APAC market is being driven by an increase in demand for packaged food and bottled beverages. APAC is a massive market for bottled water. Low-quality tap water, rising health consciousness, higher standards of living, and worldwide travel are some of the key factors driving the packaged water market in APAC, which ultimately propels the growth of the caps and closures market. The increased income, lifestyle changes, increasing popularity of packaged foods, and increased overall consumer demand for canned foods. Furthermore, China and India are two of the world's largest countries with large consumer bases, which increases demand for caps and closures in the packaging industry.
North America, on the contrary, is expected to grow the fastest during the forecast period. The dominant position can be attributed to key manufacturers, the processed food and healthcare sectors, as well as rising innovation. The United States is the region's leading country, with the largest global caps and closures market share. Because of the region's expanding food and beverage industries, Latin America will see consistent growth.
List of Key Market Players
- Silgan Holdings Inc.
- Aptar Group
- UNITED CAPS
- Nippon Closures Co., Ltd.
- Mold-Rite Plastics, LLC
- O.Berk Company, LLC
- BERICAP Holding GmbH
- Guala Closures S.P.A
- Closure Systems International, Inc.
- Amcor Plc
- Pelliconi & C. Spa.
- Weener Plastics
- Blackhawk Molding Co. Inc.
- C. L. Smith Company
Key Market Developments
- In March 2023, UNITED CAPS introduced the 23 H-PAK, a new carton packaging cap. Instead of costly line changes, the company's latest innovation, the 23 H-PAK, is tied to outstanding value and performance.
- In February 2023, Berry Global introduced a child-resistant PET bottle combination for the pharmaceutical syrup market that is fully accredited. The new Berry Healthcare bundle includes seven 28mm neck PET bottle ranges in sizes ranging from 20ml to 1,000ml and a variety of designs, as well as eight accompanying closures with tamper-evident and child-resistant features.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global caps & closures market based on the below-mentioned segments:
Caps & Closures Market, Type Analysis
- Tethered Caps
- Push/Pull Caps
- Screw Caps
Caps & Closures Market, Material Analysis
Caps & Closures Market, Application Analysis
- Food & Beverages
- Consumer Goods
- Personal Care & Cosmetics
Caps & Closures Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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