Overview and Scope
Caps and closures refer to a structure designed to cover a container’s opening and guard against the leakage of its contents. The main objective of caps and closures is to protect items and improve shelf life by retaining contents sealed and fresh for a specific shelf life with proper content dispense.
Sizing and Forecast
The caps and closures market size has grown strongly in recent years. It will grow from $73.17 billion in 2023 to $77.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer packaging trends, food and beverage industry growth, pharmaceutical packaging needs, environmental concerns.
The caps and closures market size is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to e-commerce packaging, sustainability initiatives, healthcare industry growth, innovations in tamper-evidence. Major trends in the forecast period include smart packaging, customization and personalization, child-resistant innovations, improved dispensing systems.
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Segmentation & Regional Insights
The caps and closures market covered in this report is segmented –
1) By Type: Screw Caps; Dispensing Caps; Other Types
2) By Raw Material: Plastic; Metals; Others Raw Materials
3) By Technology: Injection Molding; Compression Molding; Post-Mold Tamper-Evident Band
4) By End-User: Food; Beverage; Healthcare; Cosmetics And toiletries; Other End-Users
Asia-Pacific was the largest region in the caps and closures market in 2023. The regions covered in caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising demand for alcoholic beverages is expected to propel the growth of the caps and closures market going forward. Alcoholic beverage refers to any fermented liquor containing ethyl alcohol or ethanol (CH3CH2OH), as an intoxication agent, such as beer, wine, or distilled spirit. Cap and closures are used in alcoholic beverages for safe and effective sealing solutions to guarantee product freshness, avoid leakage and assure regulatory compliance. The caps and closures aid in the preservation of alcoholic drinks by protecting them from external pollutants and keeping carbonation. For instance, in February 2023, according to Distilled Spirits Council of the United States, a US-based national trade association, spirits sales in the United States increased by 5.1% to reach a new high of $37.6 billion in 2022, while volumes increased by 4.8% to reach 305 million (9-liter cases). Therefore, the rising demand for alcoholic beverages will drive the caps and closures market.
Key Industry Players
Major players in the caps and closures market are Reynolds Group Holdings Limited, WestRock Company, Ball Corporation, Amcor PLC, Crown Holdings Incorporation, Sonoco Products Company, Silgan Holdings Inc., Nippon Closures Co. Ltd., AptarGroup Incorporated, Berlin Packaging LLC, Pact Group Holdings Ltd., Alkem Laboratories Ltd., Bericap GmbH Co. & Kg, Guala Closures Group Inc., Weener Plastics Inc., United Caps Holding SA, Pelliconi & C. Spa., Crown Seal Public Company Limited, C. L. Smith Company, Mold-Rite Plastics LLC, O.Berk Company LLC, Elmoris JSC, Closure Systems International Inc., Blackhawk Molding Co. Inc., Phoenix Closures Inc., Berry Global Group Inc., Innovative Polymers Pvt. Ltd.
The caps and closures market report table of contents includes:
1. Executive Summary
2. Caps And Closures Market Characteristics
3. Caps And Closures Market Trends And Strategies
4. Caps And Closures Market – Macro Economic Scenario
5. Global Caps And Closures Market Size and Growth
….
30. Caps And Closures Market Competitive Landscape And Company Profiles
31. Caps And Closures Market Other Major And Innovative Companies
32. Global Caps And Closures Market Competitive Benchmarking
33. Global Caps And Closures Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Caps And Closures Market
35. Caps And Closures Market Future Outlook and Potential Analysis
36. Appendix
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