How Has the Plastic Caps And Closures Market Evolved Historically and What is its Current Size
The plastic caps and closures market has seen considerable growth due to a variety of factors.
• The market size for plastic caps and closures has seen a solid increase over the past few years. The market is anticipated to expand from $49.91 billion in 2024 to $53.43 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%.
Various factors that facilitated the growth during the historic period include competitive influence spurring innovation, the effect of market globalization, customer preference impacts, and novel closure styles.
What Can Be Expected from the Plastic Caps And Closures Market in the Coming Years?
The plastic caps and closures market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is on the horizon for the plastic caps and closures market, which is projected to rise to a valuation of $73.32 billion in 2029, experiencing an 8.2% compound annual growth rate (CAGR). Factors behind the expansion during the forecast period include an increase in demand for packaged products, emphasis on sustainability, a preference for lighter solutions, needs for customization and branding, and conforming to consumer preferences. Key trends within this period involve competitive and product differentiation, broadening of the global market scope, the market's reaction to consumer preferences, legal compliance, and a growing need for convenience.
What Are The Core Factors Supporting Growth In Plastic Caps And Closures Market?
The global demand for bottled water is on the rise, which is propelling the market for plastic caps and closures. Bottled water typically means water packed in plastic or glass bottles, and each one is sealed securely with plastic caps and closures to avoid any leakages, ensure ease of transport, and to prolong its shelf life. For example, in May 2023, data from the International Bottled Water Association, an organization based in the US, revealed that Americans consumed an average of 46.5 gallons of bottled water in 2022. This resulted in revenues close to $46 billion, an increase from $40.8 billion in 2021. Such trends are projected to persist in the forecasted period, thereby boosting the need for plastic caps and closures in the market.
How Is the Plastic Caps And Closures Market segmented?
The plastic caps and closures market covered in this report is segmented –
1) By Product Type: Screw Caps, Dispensing Caps, Other Product Types
2) By Materials: Polypropylene, Polystyrene, Polyethylene, Other Materials
3) By End-User: Pharmaceutical, Personal Care, Food And Beverages, Other End-Users
Subsegments:
1) By Screw Caps: Metal Screw Caps, Plastic Screw Caps, Child-Resistant Screw Caps, Tamper-Evident Screw Caps
2) By Dispensing Caps: Flip-Top Caps, Pump Dispensers, Nozzle Caps, Spray Caps
3) By Other Product Types: Corks, Snap-On Caps, Spout Caps, Specialty Closures
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What New Trends Are Influencing the Plastic Caps And Closures Market?
Major participants in the plastic caps and closures industry are concentrating on the creation and introduction of innovative products to achieve the sustainability goals set by global regulatory authorities. For instance, Berry Global, an American packing corporation, unveiled a new light weight tube closure strategy named the Slimline range in October 2023. This was specially crafted to offer modern aesthetics and material flexibility, while also curbing greenhouse gas emissions in contrast to traditional lids. The closures come in diameters of 35mm and 50mm, with matte and glossy finishing options, and with 3mm and 5mm apertures.
Who Are the Key Players in the Plastic Caps And Closures Market?
Major companies operating in the plastic caps and closures market include:
• Berry Global Inc.
• Amcor plc
• Crown Holdings Inc.
• Silgan Holdings Inc.
• AptarGroup Inc.
• Berlin Packaging LLC
• Albea SA
• BERICAP GmbH & Co KG
• Closure Systems International Inc.
• CL Smith Company
• O.Berk Company
• TricorBraun Ltd.
• Pretium Packaging LLC
• United Caps Luxembourg S.A.
• Mold-Tek Packaging Ltd.
• Phoenix Closure Inc.
• Mold-Rite Plastics LLC.
• United States Plastic Corp
• Tim Plastics Inc.
• Kaufman Container
• Pano Cap Limited
• Blackhawk Molding Co Inc.
• Comar LLC.
• MJS Packaging Services Ltd.
• Plastic Closures Ltd.
• Caps & Closures Pty Ltd.
• Weatherchem Corporation
• Guala Closures Group India Pvt Ltd.
• Cap & Seal Pvt Ltd.
• Hicap Closures Co Ltd.
• All American Containers Inc.
• Alpha Packaging Pvt Ltd.
• CKS Packaging Inc.
What Is The Most Dominant Region In The Plastic Caps And Closures Market?
Asia-Pacific was the largest region in the plastic caps and closures market in 2024. The regions covered in the plastic caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
