Overview and Scope
Plastic caps and closures are the final elements of the packaging process, consisting of a structure or device designed to cover a container’s opening and prevent the contents from spilling out, thereby reducing leakage of goods packed inside the container and product degradation inside the bottle. These are used in a variety of applications such as beverage packaging, non-food packaging, and cosmetic packaging.
Sizing and Forecast
The plastic caps and closures market size has grown strongly in recent years. It will grow from $46.92 billion in 2023 to $50.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to competition driving innovation, market globalization impact, consumer preferences influence, innovative closure designs.
The plastic caps and closures market size is expected to see strong growth in the next few years. It will grow to $66.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rise in packaged product demand, sustainability focus, preference for lightweight solutions, customization and branding needs, adaptation to consumer preferences. Major trends in the forecast period include competition and product differentiation, global market expansion, market response to consumer preferences, regulatory compliance, demand for convenience.
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Segmentation & Regional Insights
The plastic caps and closures market covered in this report is segmented –
1) By Product Type: Screw Caps, Dispensing Caps, Other Product Types
2) By Materials: Polypropylene, Polystyrene, Polyethylene, Other Materials
3) By End-User: Pharmaceutical, Personal Care, Food And Beverages, Other End-Users
Asia-Pacific was the largest region in the plastic caps and closures market in 2023. The regions covered in the plastic caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in demand for bottled water from consumers across the globe is driving the plastic caps and closures market. Bottled water essentially refers to drinking water packaged in plastic or glass bottles. The bottled water is sealed with plastic caps and closures to prevent spillage, facilitate easy transportation and extend shelf life. For instance, in May 2023, according to the International Bottled Water Association, a US-based trade organization, Americans consumed, on average, 46.5 gallons of bottled water in 2022, which approached $46 billion, up from $40.8 billion in 2021. This is expected to continue in the forecast period, thus driving demand for plastic caps and the closure market.
Key Industry Players
Major companies operating in the plastic caps and closures market report are Berry Global Inc., Amcor plc, Crown Holdings Inc., Silgan Holdings Inc., AptarGroup Inc., Berlin Packaging LLC, Albea SA, BERICAP GmbH & Co KG, Closure Systems International Inc., CL Smith Company, O.Berk Company, TricorBraun Ltd., Pretium Packaging LLC, United Caps Luxembourg S.A., Mold-Tek Packaging Ltd., Phoenix Closure Inc., Mold-Rite Plastics LLC., United States Plastic Corp, Tim Plastics Inc., Kaufman Container, Pano Cap Limited, Blackhawk Molding Co Inc., Comar LLC., MJS Packaging Services Ltd., Plastic Closures Ltd., Caps & Closures Pty Ltd., Weatherchem Corporation, Guala Closures Group India Pvt Ltd., Cap & Seal Pvt Ltd., Hicap Closures Co Ltd., All American Containers Inc., Alpha Packaging Pvt Ltd., CKS Packaging Inc.
The plastic caps and closures market report table of contents includes:
1. Executive Summary
2. Plastic Caps And Closures Market Characteristics
3. Plastic Caps And Closures Market Trends And Strategies
4. Plastic Caps And Closures Market – Macro Economic Scenario
5. Global Plastic Caps And Closures Market Size and Growth
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32. Global Plastic Caps And Closures Market Competitive Benchmarking
33. Global Plastic Caps And Closures Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plastic Caps And Closures Market
35. Plastic Caps And Closures Market Future Outlook and Potential Analysis
36. Appendix
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