Introduction

In today’s fast-paced consumer-driven world, packaging is not just about aesthetics; it’s also about functionality and safety. The Cap and Closure Market is a critical part of the packaging industry, ensuring that your products remain secure, fresh, and accessible. In this comprehensive article, we delve into the world of Cap and Closure, covering everything from their types to the latest market trends.

The worldwide Cap and Closure market is projected to be worth approximately US$ 89.9 billion by 2023, with a forecasted market valuation of US$ 157.0 billion by 2033. The industry is expected to witness a steady compound annual growth rate (CAGR) of 5.7% in caps and closure sales from 2023 to 2033.

According to Future Market Insights, the USA cap & closure market is expected to rise at around 3.6% CAGR over the forecast period. By 2033, the United States of America is projected to hold nearly 75% of the total North America caps & closures industry.

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“Customized solutions aligned with end-use requirements offered by market players, along with intensive research and development to launch sustainable packaging solutions will continue augmenting the global Cap and Closure market growth through 2033,” says the FMI analyst.

Key Takeaways:

  • By product type, the screw closures segment is projected to hold 51% of the total Cap and Closure 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 Cap and Closure market. The segment is projected to offer an incremental opportunity of US$ 35.2 Billion during the assessment period.
  • The U.S. will continue witnessing high demand for Cap and Closure, with sales increasing at a 3.5% CAGR through 2031.
  • Germany will lead the European Cap and Closure market, holding 16% of the total sales in Europe.
  • India will emerge as an attractive market, accounting for nearly 23% of the APAC Cap and Closure market.
  • The Japanese Cap and Closure market is projected to grow at a 6.8% CAGR

Competitive Landscape

  • BERICAP Holding GmbH,
  • Crown Holdings Inc,
  • Guala Closures S.p.A,
  • Closure Systems International, Inc
  • Amcor Plc,
  • Silgan Plastic Closure Solutions,
  • Aptar Group,
  • UNITED CAPS,
  • Nippon Closures Co., Ltd.

Recent Developments:

  • In September 2022, Berry Global Inc. launched a new bottle and cap combination product which is a PET bottle with a fully accredited child-resistant closure for liquid healthcare products.
  • In October 2021, Silgan Holdings Inc. announced that it has acquired the new business Easytech Closures S.p.A who manufactures easy-open and sanitary metal ends used with metal containers in Europe.
  • In June 2021, Guala Closures S.p.A announced the launch of its new product in the French market called Divinum Blossom, which is a sustainable screw cap.

Factors Driving Market Growth

The growth of the Cap and Closure Market is driven by several key factors, including:

  1. Rising Consumer Awareness: Consumers today are increasingly conscious of product safety and sustainability. This has led to a higher demand for eco-friendly and tamper-proof closures.
  2. E-commerce Boom: With the surge in online shopping, the need for secure and leak-resistant packaging has intensified, propelling the market forward.
  3. Advancements in Material Science: Innovations in materials, such as bioplastics and recyclable polymers, have widened the scope of eco-conscious packaging solutions.
  4. Changing Lifestyles and Convenience: Busy lifestyles demand packaging that offers convenience, leading to the popularity of resealable and easy-to-open closures.

Market Segments Covered in Cap and Closure Market Analysis

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
  • Metal
  • Aluminium
  • Others

By End Use:

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