views
The cap
and closure market is estimated to reach a valuation of US$
81.1 billion in 2024. The industry is projected to be worth US$
137.2 billion by 2034, rising at a CAGR of 5.3% between 2024
and 2034. The dynamic market is witnessing significant growth driven by diverse
industries and evolving consumer preferences. Caps and closures play a critical
role in preserving the integrity of packaged products, ensuring freshness,
safety, and convenience.
The market encompasses a wide range of closures, including
screw caps, flip-tops, dispensing caps, and tamper-evident closures, tailored
to meet the specific needs of various applications. One key factor contributing
to the expansion of the market is due to the rising demand in the food and
beverage industry. As consumer awareness regarding food safety and quality
increases, manufacturers prioritize innovative cap and closure solutions to
enhance product shelf life and maintain freshness.
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Similarly, in the pharmaceutical and healthcare sector,
stringent regulatory requirements drive the adoption of secure and tamper-proof
closures to safeguard the integrity of medical products. The packaging
industry’s focus on sustainability has also influenced the market.
Manufacturers are increasingly exploring eco-friendly materials and designs,
responding to the growing consumer inclination towards sustainable and
recyclable packaging. This trend aligns with the broader industry shift towards
environmental consciousness and corporate responsibility.
Technological advancements play a crucial role in shaping
the market. Innovations such as child-resistant closures, smart packaging
solutions, and anti-counterfeiting features are gaining prominence, addressing
safety concerns and enhancing user experience. Adopting advanced manufacturing
processes, including injection molding and 3D printing, contributes to
producing intricate and customized closures. As the demand for efficient and
sustainable packaging solutions continues to grow, the market is poised for
further expansion and innovation to meet the evolving needs of diverse
industries worldwide.
Key Takeaways from the Market Study
- Based
on cap type, plastic closures are expected to hold a market share of 57.9%
in 2024.
- Japan
is estimated to register at a CAGR of 3.5% by 2034.
- The
United States experiences significant growth, projected at a CAGR of 3.3%
by 2034.
- Based
on end-users, beverages are anticipated to hold a market share of 46.4% in
2024.
“The escalating consumer demand for packaging solutions
that offer both convenience and safety is a pivotal driver propelling the cap
and closure market,” comments a Future Market Insights analyst.
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Competitive LandscapeTop of Form
The cap and closure market leaders engage in strategic
initiatives like mergers, acquisitions, and collaborations to expand their
product portfolios and global market presence.
The market also sees regional and niche players offering
specialized closure solutions. Continuous innovation and responsiveness to
evolving consumer demands shape the dynamic competitive landscape of the
market.
Some of the recent developments are:
- In
February 2023, Berry Global Inc. unveiled an innovative packaging solution
tailored for the pharmaceutical and herbal markets, focusing on syrup and
liquid medicines.
The comprehensive offering features PET bottles and closures
equipped with child-resistant and tamper-evident features, addressing safety
and regulatory requirements in the healthcare sector.
- In
March 2023, UNITED Caps introduced the 23 H-PAK, a cutting-edge cap
designed specifically for carton packaging.
The new cap brings advancements in functionality and design,
catering to the evolving needs of industries utilizing carton-based packaging
solutions.
More Valuable Insights Available
Future Market Insights offers an unbiased global cap and
closure market analysis, providing historical data from 2019 to 2023 and
forecast statistics from 2024 to 2034
To understand opportunities in the cap and closure market,
the report is segmented based on cap type (plastic closures, metal closures,
rubber closures, and cellulose screw caps & seals), material (plastic,
metal, rubber, and cellulose based), end use (food, beverage, pharmaceutical,
household & toiletries, cosmetics & personal care, chemical &
petrochemical, and others) and closure diameter (less than 20 mm, 21 mm to 60
mm, 61 mm to 100 mm, and more than 100 mm) across seven regions (North America,
Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East
Asia, and Middle East and Africa).
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert
analysis, time-efficient research, and strategic recommendations to provide
authentic insights and accurate results to help clients worldwide. With over
100+ reports and one million+ data points, the team has analyzed the industry
lucidly in 50+ countries for over a decade. The team briefly analyzes key
trends, including competitive landscape, profit margin, and research
development efforts.
Key Segments of Cap and Closure Industry Survey
By Cap Type:
- Plastic
Closures
- Metal
Closures
- Rubber
Closures
- Cellulose
Screw Caps & Seals
By Material:
- Plastic
- Metal
- Rubber
- Cellulose
Based
By End Use:
- Food
- Beverage
- Pharmaceutical
- Household
& Toiletries
- Cosmetics
& Personal Care
- Chemical
& Petrochemical
- Others
By Closure Diameter:
- Less
than 20 mm
- 21
mm to 60 mm
- 61
mm to 100 mm
- More
than 100 mm
By Region:
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- South
Asia and Pacific
- East
Asia
- Middle
East and Africa
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of
the Stevie Award, and a member of the Greater New York Chamber of Commerce)
offers profound insights into the driving factors that are boosting demand in
the market. FMI stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food and Beverage,
Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast
team of over 400 analysts worldwide, FMI provides global, regional, and local
expertise on diverse domains and industry trends across more than 110
countries.
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