Global Caps and Closures Market Report and Forecast 2024-2032

Global Caps and Closures Market Report and Forecast 2024-2032

Global Caps and Closures Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the caps and closures market size reached a value of USD 72 billion in 2023. Aided by the increasing demand for convenience packaging and the growing applications of caps and closures in various sectors, the market is projected to further grow at a CAGR of 4.6% between 2024 and 2032 to reach a value of USD 107.99 billion by 2032.

Caps and closures are critical components of packaging that serve to protect and preserve the contents of containers, ensuring product integrity and extending shelf life. They are widely used in the food and beverage, pharmaceuticals, cosmetics, and household goods sectors. Caps and closures come in various types, including screw caps, snap-on caps, flip-top caps, and dispensing closures, each designed to meet specific functional requirements.

The increasing consumer demand for convenience packaging is driving the caps and closures market growth. With the growing busy lifestyles and the need for on-the-go consumption, there has been a significant shift towards packaging solutions that offer ease of use and portability. Caps and closures play a crucial role in enhancing the convenience of packaging, making them an essential component in the modern consumer goods sector.

Additionally, the rising awareness of product safety and hygiene is a major factor contributing to the growth of the market. Caps and closures provide a secure seal that protects products from contamination and tampering, ensuring their safety and integrity. This is particularly important in the food and beverage and pharmaceutical sectors, where maintaining product quality is critical. The increasing focus on hygiene and safety is driving the demand for advanced caps and closures solutions.

The expanding applications of caps and closures in various sectors also play a significant role in propelling the market. In the food and beverage sector, caps and closures are used to seal bottles, jars, and containers, preserving the freshness and quality of products. The pharmaceutical sector utilises caps and closures to ensure the safety and integrity of medicines and healthcare products. Moreover, the cosmetics industry leverages caps and closures for packaging personal care products, providing convenience and enhancing product appeal, consequently driving up the caps and closures market share.

Technological advancements play a crucial role in the growth of the market. The development of smart caps and closures with features such as tamper-evidence, child-resistance, and dispensing control is enhancing the functionality and safety of packaging solutions. These advanced features are particularly important in the pharmaceutical and food and beverage sectors, where ensuring product safety and integrity is critical.

As per the caps and closures market analysis,the advancement of sustainable packaging materials is driving the market growth. Companies are increasingly focusing on developing caps and closures made from recyclable and biodegradable materials to meet the growing demand for eco-friendly packaging solutions. This trend is driven by the increasing environmental awareness and the implementation of stringent regulations on plastic waste management.

Consumers and businesses are increasingly aware of the environmental impact of plastic waste, driving demand for eco-friendly packaging materials. Manufacturers are responding by developing caps and closures made from biodegradable, compostable, and recyclable materials. This trend is supported by regulatory frameworks aimed at reducing plastic waste and promoting sustainability in packaging.

Market Segmentation

The market can be divided based on material, product, application, and region

Market Breakup by Material

• Plastic
• Metal
• Others

Market Breakup by Product

• Easy-open Can End
• Metal Lug Closures
• Peel-off Foils
• Screw Closures
• Metal Crowns
• Corks
• Others

Market Breakup by Application

• Food
• Beverages
• Healthcare
• Cosmetics
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global caps and closures market. some of the major players explored in the report by expert market research are as follows:

• Amcor Plc
• Berry Global Inc.
• AptarGroup, Inc.
• Crown Holdings, Inc.
• Nippon Closures Co., Ltd.
• Closure Systems International Inc.
• Guala Closures S.p.A
• United Caps S.A.
• Silgan Closures GmbH
• BERICAP Holding GmbH
• Caps and Closures Pty Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.