The global plastic caps & closures market size is foreseen to gain significant growth from 2023 to 2033. The global market is poised to surpass a valuation of US$ 45,913.6 million in 2023. It is anticipated to attain a valuation of US$ 76,953.0 million by 2033.
Increased sales of plastic caps and closures have resulted from increased consumption of carbonated and non-carbonated beverages, which has enhanced the prospects of bottles, jars, and other analogous container types. Due to the continuous demand for plastic caps and closures for bottles, jars, tubes, and containers, the global plastic caps and closures market is predicted to increase at a rate of 5% between 2022 and 2029. Various types of plastic caps and closures, such as screw, snap, and push & pull caps and closures, are seeing increased sales as a result of the convenience packaging trend.
Plastic caps and closures play a vital role in various industries, ranging from food and beverage to pharmaceuticals. These essential components provide convenience, safety, and protection to the products they seal. The plastic caps and closures market has witnessed significant growth in recent years, driven by increasing consumer demand, technological advancements, and expanding end-use industries. This article dives deep into the Plastic Caps & Closures Market, exploring its current landscape, growth factors, challenges, and future prospects.
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Key Players in the Global Market
- Berry Global Inc.
- Amcor Plc
- Silgan Plastics
- Aptar Inc.
- O.Berk Company LLC
- Bericap GmbH & Co KG
- UNITED CAPS
- CL Smith Company
- Closure Systems International Inc.
- others
Key Takeaways – Plastics Caps & Closures Market Study
- Screw caps & closures are experiencing the unmatchable demand, especially in the beverage industry as this packaging solution maintains the optimum air levels in bottles and provides convenient opening and closing.
- Thermoplastics such as polyethylene (PE), polypropylene (PP), and others dominate the global plastics caps & closures market in terms of material. Use of these plastics for manufacturing plastics caps and closure offers advantages such as low processing cost as well as lightweight and high strength products.
- The beverage industry has been identified as the key end user of the plastics caps & closures, as this sector generates a constant demand for plastics caps & closures to pack a wide variety of carbonated and non-carbonated drinks.
The Growing Demand for Plastic Caps & Closures
Plastic caps and closures are widely used across multiple sectors, including packaging, healthcare, personal care, and more. The market for these components continues to expand due to several key factors:
1. Increasing Consumer Preferences and Convenience
In today’s fast-paced world, consumers seek convenience and ease of use in product packaging. Plastic caps and closures provide a reliable and user-friendly sealing solution that ensures the freshness and safety of the contents. These closures are easy to open and reseal, making them highly desirable for consumers.
2. Rising Demand for Extended Shelf Life
Proper packaging is essential for preserving the quality and shelf life of products. Plastic caps and closures offer excellent barrier properties, protecting against moisture, air, and contaminants. They help extend the shelf life of food, beverages, and pharmaceuticals, reducing waste and ensuring product integrity.
3. Growing Packaging Industry
The global packaging industry has been witnessing robust growth, driven by e-commerce, urbanization, and changing consumer lifestyles. Plastic caps and closures are an integral part of packaging solutions, driving their demand in tandem with the packaging industry’s growth.
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Plastic Caps & Closures Market by Category By Caps Type:
- Screw Closures
- Snap Closures
- Push-Pull Closures
- Others
By Material Type:
- Thermoplastic
- PE
- LDPE/LLDPE
- HDPE
- PP
- Others (PS, PET etc.)
- Thermosets
By End Use:
- Beverage
- Food
- Pharmaceutical
- Household
- Cosmetics & Personal Care
- Others (Chemicals, Fertilizers etc.)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- MEA
- Japan
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Competitive Landscape
The leading, as well as small scale manufacturers operating in the global plastic caps & closures market, are focusing on the changing industry needs of the end-user and manufacturing it accordingly. The key players in the plastic caps & closures market are adopting market strategies like product portfolio expansions and mergers and acquisitions to maximize their business reach and enhance their market position.
For instance,
- In September 2021, Silgan Plastics, a leading supplier of sustainable rigid packaging solutions, acquired Gateway Plastics. Gateway Plastics manufactures dispensing closures and provides integrated dispensing packaging solutions to the food and beverage sector. The acquisition will help Silgan Plastics expand its comprehensive product offerings in dispensing and specialty closures.
- In June 2021, BERICAP, a leading manufacturer of plastic closures acquired, Mala Verschluss-Systeme GmbH. Mala is a manufacturer of aluminium closures. With the acquisition of Mala, BERICAP will include aluminium closures in its product portfolio and develop innovative closure technologies combining plastic and aluminium.
- In January 2022, Aptar Global, Inc. introduced a new product segment – PolkaLite. PolkaLite is a lighter and more efficient closure that brings convenience and superior performance.
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