Caps and Closures Market 2021 Outlook, Current and Future Industry Landscape Analysis 2031

Caps and closures made from plastic and metal are widely adopted in the packaging industry for closing and sealing a wide range of packaging formats such as bottles, jars, containers, and cartons. Attractive shelf-appeal, user friendly design and easy accessibility are key factors boosting sales of caps and closures.

FMI forecasts sales of caps and closures to gain traction on the back of their predominant use in both industrial and non-industrial sectors. Owing to surging demand, manufacturers operating in the global caps and closures market are offering innovative designs such as child resistant caps to gain a competitive edge in the market.

Growing preference towards lightweight and convenient packaging solutions is further anticipated to provide tailwinds to caps and closures sales. Improvements in formats such as screw closures and tethered caps will continue fostering sales of the same over the forecast period.

Besides this, consistent development of pharmaceutical products and personal care products is propelling demand for caps and closures. Catering to high demand, manufacturers are investing in strategic collaborations, mergers, and acquisitions to expand their production facilities and product portfolios.

As per FMI’s in-depth regional analysis, the U.S. is anticipated to dominate the North American caps and closures market. Growth can be attributed to the presence of key market players, coupled with increasing per capita expenditure on food & beverages and pharmaceuticals in the country.

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Caps and Closures Market – 2015-2020 Outlook Compared to 2021-2031 ForecastUser friendly design, durability and high degree of customization are key factors fueling sales of caps and closures. With its precise closing, sealing properties and massive popularity among the end users, demand for caps and closures is anticipated to accelerate considerably over the forecast period.  FMI has projected the global caps and closures market to expand at a 5.6% CAGR 2021 to 2031, compared to 3.8% CAGR recorded between 2015 to 2020.

Caps and closures made from plastic, metal and other materials are closing systems used in bottle, jars, containers, cartons, and other packaging formats for sealing and packaging application. Rising production output from various end-use industries, coupled with design enhancement in caps and closures are driving its sales in the market.

Sales of caps and closures are largely driven marketing activities such as acquisitions, product maximization, partnerships, investments, and others. Furthermore, recyclability, production, and introduction of recyclable and sustainable caps and closures is creating lucrative opportunities for key manufacturers.

Manufacturers are focusing on circular packaging with incorporation of caps and closures, which are made up from post-consumer resin (PCR) and other recyclable materials. With this,  caps and closures manufacturers are upgrading their recycling initiatives, achieving sustainability targets and luring eco-conscious customers in the market. This is turn is propelling sales of caps and closures, and the trend is projected to continue over the forecast period.

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Key Takeaways:

• By product type, the screw closures segment is projected to hold 51% of the total caps and closures sales.
• In terms of material type, plastic will emerge as the most-preferred material, growing at a 5.7% CAGR.
• By end-use, the food & beverage segment is estimated to remain the major revenue contributor in the global caps and closures market. The segment is projected to offer an incremental opportunity of US$ 35.2 Bn during the assessment period.
• The U.S. will continue witnessing high demand for caps and closures, with sales increasing at a 3.5% CAGR through 2031.
• Germany will lead the European caps and closures market, holding 16% of the total sales in Europe.
• India will emerge as an attractive market, accounting for nearly 23% of the APAC caps and closures market.
• The Japanese caps and closures market is projected to grow at a 6.8% CAGR.

Competitive LandscapeCrown Holdings Inc, BERICAP Holding GmbH, Guala Closures S.p.A, Closure Systems International, Inc are the top players operating in the caps and closures market. Furthermore, Amcor Plc, Silgan Plastic Closure Solutions, Aptar Group, UNITED CAPS, Nippon Closures Co., Ltd. are also the noticeable players in the caps and closures market. The Tier 3 players in the market hold 85-95% in the global caps and closures market. In conclusion, key players contribute almost 05-15% of the global market. For instance in 2021, Berry Global Inc. one of the leading packaging and caps and closure manufacturer has introduced lightweight plastic caps through the reduction in overall plastic usage.

Caps and Closures Market by CategoryBy 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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