The global caps and closures market is projected to experience substantial growth from 2023 to 2033. The market size is expected to increase from US$ 89.9 billion in 2023 to US$ 157.0 billion by 2033, at a compound annual growth rate (CAGR) of 5.7% during this period. Several factors contribute to this growth, including the rising demand for packaged food and beverages, increasing disposable income, and the expansion of e-commerce sales.

The caps and closures market can be segmented based on material, product type, application, and region. In terms of material, plastic accounts for the largest share, exceeding 50% in 2022. This dominance can be attributed to the growing demand for plastic caps and closures in the food and beverage industry. Metal caps and closures are also gaining popularity due to their durability and recyclability.

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Based on product type, screw-on caps hold the largest market share, accounting for over 60% in 2021. This is because they are easy to use and have a wide range of applications. Pry-off caps are also witnessing increased demand due to their tamper-evident features.

In terms of application, the food and beverages sector is the largest segment, with a share of over 40% in 2022. This can be attributed to the growing demand for packaged food and beverages. The personal care and pharmaceutical sectors are also witnessing growth due to the increasing demand for tamper-evident and child-resistant caps.

Geographically, North America is the largest market for caps and closures, comprising over 35% of the market share in 2022. This is primarily due to the presence of a large number of food and beverage manufacturers in the region. Europe follows as the second largest market, with Asia Pacific also exhibiting significant growth.

The projected growth of the caps and closures market during the forecast period is driven by various factors, including the increasing demand for packaged food and beverages, rising disposable income, and the expanding e-commerce sector. Additionally, the market is expected to benefit from the growing need for tamper-evident and child-resistant caps.

Key Questions Covered in the Report

  • The report offers insight into caps and closures market demand outlook for the forecast period 2022-2032
  • The market study also highlights projected sales growth for caps and closures market between 2022 and 2032
  • Caps and closures market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Caps and closures market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

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Key Takeaways from Caps and Closures Market Study

  • The U.S. market is expected to account for nearly 75% of the sales in North America, growing at a CAGR of 3.5% over the assessment period.
  • Germany is estimated to emerge as a highly remunerative market in Europe, contributing around 16% of the sales in the region by 2021.
  • Favored by the increasing demand for dairy and milk products in India, the country is projected to account for over 23% of the revenue share in the Asia Pacific market by 2031.
  • Demand for screw closures is forecast to surge at 3.4%, totaling sales of nearly 1,580 billion units during the forecast period 2021-2031.
  • Based on material, plastic is anticipated to remain the dominant segment, expanding at a CAGR of 5.7% by the end of the next ten years.

Key Drivers

  • The rapidly expanding food & beverage industry and increasing demand for ready-to-eat food products and drinks across the U.S., the U.K., Germany, China, and India among others are spurring the sales of caps and closures.
  • The increasing application of screw closures across various industries due to their exceptional sealing attributes and popularity among manufacturers is propelling the demand for screw closures.

Key Segments of the Caps & Closures Market

By Product:

  • Screw Closures
  • Snap Closures
  • Push-Pull Closures
  • Tethered Caps
  • Others

By Production Process:

  • Injection Molding
  • Compression Molding
  • Others (Blow Molding, and more)

By Material:

  • Plastic
    • Polyethylene
      • HDPE
      • LDPE
    • Polypropylene
      • Homopolymer
      • Copolymer
      • Random
    • PCR
    • Bioplastics
    • Others (PET, PA, and more)
  • Metal
  • Aluminium
  • Others

By End Use:

  • Food & Beverage
  • Consumer Goods
  • Personal and Homecare
  • Pharmaceuticals
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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