What are the Historical Developments and Current Growth Metrics of the Caps And Closures Market?
The caps and closures market has seen considerable growth due to a variety of factors.
• The market size for caps and closures has seen substantial growth in the past few years. It's projected to rise from $77.46 billion in 2024 to $81.93 billion in 2025, representing a compound annual growth rate (CAGR) of 5.8%.
This growth during the historic period can be linked to trends in consumer packaging, expansion in the food and beverage industry, pharmaceutical packaging requirements, and environmental considerations.
What Is The Projected Growth Of The Caps And Closures Template Market?
The caps and closures market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the market for caps and closures will experience substantial growth in the coming years, with its size predicted to reach $105.03 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.4%.
The predicted expansion in the forecast period is driven by elements such as e-commerce packaging, sustainability initiatives, growth in the healthcare industry, and tamper-evidence innovations. Trending aspects in the forecast period encompass smart packaging, customization and personalization, innovations in child resistance and enhanced dispensing systems.
What Are The Key Drivers Fueling Growth In The Caps And Closures Market?
The caps and closures market is anticipated to experience notable growth due to the escalating consumption of alcoholic beverages. When referring to an alcoholic beverage, the definition includes any fermented liquor with ethanol as an intoxicating ingredient, like beer, spirits, or wine. The role of caps and closures is crucial within these beverages as they provide reliable sealing solutions to maintain product freshness, prevent spillage, and ensure legal compliance. They offer protection from outside contaminants and preserve carbonation in the drinks. As an illustration, Distilled Spirits Council of the United States, a domestic trade association, stated in February 2023 that the sales of spirits in the US had surged by 5.1%, reaching a record level of $37.6 billion in 2022. Volume sales equally grew by 4.8% to 305 million (9-liter cases). Hence, the growing demand for alcoholic beverages is set to bolster the caps and closures market. The trend of increasing non-alcoholic beverage consumption is also foreseen to spur caps and closure market's advancement. A non-alcoholic drink implies a beverage without alcohol or with minimal concentration of it. These drinks either do not contain liquor or have the alcohol content reduced practically to zero. Caps and closures serve to provide a secure barrier against moisture and other potential contaminants for non-alcoholic containers. In October 2022, the Office for National Statistics, a government department in the UK, announced that in the first quarter of 2024, the non-alcoholic beverages market, including soft drinks and mineral water, hit $3.44 billion. This figure experienced an increase to $3.92 billion during the second quarter of 2024. In conclusion, the swiftly growing non-alcoholic beverage consumption is stimulating the caps and closure market.
What Are The Principal Market Segments In The Global Caps And Closures Industry?
The caps and closures market covered in this report is segmented –
1) By Type: Screw Caps, Dispensing Caps, Other Types
2) By Raw Material: Plastic, Metals, Others Raw Materials
3) By Technology: Injection Molding, Compression Molding, Post-Mold Tamper-Evident Band
4) By End-User: Food, Beverage, Healthcare, Cosmetics And toiletries, Other End-Users
Subsegments:
1) By Screw Caps: Plastic Screw Caps, Metal Screw Caps
2) By Dispensing Caps: Flip Top Caps, Pump Caps, Dropper Caps
3) By Other Types: Corks, Twist Off Caps, Snap-On Caps
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What Trends Are Shaping The Caps And Closures Market?
Leading businesses in the caps and closures market are concentrating on the development of cutting-edge packaging approaches such as sustainable closures to consolidate their market standing. These sustainable closures are packaging materials engineered to diminish packaging's environmental repercussions and foster sustainability. For instance, in March 2023, United Caps Holding SA, a producer of plastic caps and closures based in Luxembourg, introduced the 23 H-PAK, a groundbreaking sustainable closure exclusively developed for carton packaging. This pending-patent closure incorporates a distinctive tamper-evident (TE) ring that keeps all components intact to facilitate straight forward recycling. The 23 H-PAK tethered closure is designed to seamlessly integrate with existing filling lines for easy interaction with current procedures and swift adoption by production lines. This closure also includes a distinct tamper-proof (TE) ring that ensures every part stays intact for efficient recycling.
Who Are the Key Players In The Caps And Closures Market?
Major companies operating in the caps and closures market are:
• Reynolds Group Holdings Limited
• WestRock Company
• Ball Corporation
• Amcor PLC
• Crown Holdings Incorporation
• Sonoco Products Company
• Silgan Holdings Inc.
• Nippon Closures Co. Ltd.
• AptarGroup Incorporated
• Berlin Packaging LLC
• Pact Group Holdings Ltd.
• Alkem Laboratories Ltd.
• Bericap GmbH Co. & Kg
• Guala Closures Group Inc.
• Weener Plastics Inc.
• United Caps Holding SA
• Pelliconi & C. Spa.
• Crown Seal Public Company Limited
• C. L. Smith Company
• Mold-Rite Plastics LLC
• O.Berk Company LLC
• Elmoris JSC
• Closure Systems International Inc.
• Blackhawk Molding Co. Inc.
• Phoenix Closures Inc.
• Berry Global Group Inc.
• Innovative Polymers Pvt. Ltd.
What Are The Regional Insights Into The Caps And Closures Market?
Asia-Pacific was the largest region in the caps and closures market in 2024. The regions covered in caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
