Caps and Closures Global Market Report 2024

The global caps and closures market has grown strongly in recent years. It will grow from $73.17 billion in 2023 to $77.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer packaging trends, food and beverage industry growth, pharmaceutical packaging needs, environmental concerns.

The global caps and closures market is expected to see strong growth in the next few years. It will grow to $97.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to e-commerce packaging, sustainability initiatives, healthcare industry growth, innovations in tamper-evidence. Major trends in the forecast period include smart packaging, customization and personalization, child-resistant innovations, improved dispensing systems.

The growing appetite for alcoholic beverages is poised to be a driving force behind the expansion of the caps and closures market in the foreseeable future. Alcoholic beverages encompass various fermented liquors that contain ethyl alcohol or ethanol (CH3CH2OH) as an intoxicating agent, including beer, wine, and distilled spirits. Caps and closures play a pivotal role in the packaging of alcoholic beverages, providing secure sealing solutions to ensure product freshness, prevent leakage, and adhere to regulatory requirements. These components aid in preserving the quality of alcoholic drinks by safeguarding them from external contaminants and preserving carbonation. For instance, in February 2023, the Distilled Spirits Council of the United States reported that spirit sales in the United States reached a new high of $37.6 billion in 2022, with a 5.1% increase, while volumes rose by 4.8% to reach 305 million 9-liter cases. Hence, the surging demand for alcoholic beverages is expected to drive the growth of the caps and closures market.

The increasing consumption of non-alcoholic beverages is anticipated to fuel the growth of the caps and closures market in the near future. Non-alcoholic beverages encompass drinks that either contain no alcohol or have minimal alcohol content. These beverages are produced without or with significantly reduced alcohol levels. Caps and closures serve the crucial role of providing a tight and secure seal to safeguard non-alcoholic beverage containers from moisture, humidity, and other contaminants. For instance, in March 2022, the Australian Bureau of Statistics reported a 1.4% increase in the sale of food and non-alcoholic beverages, totaling 14.7 million metric tons in 2021 compared to the previous year. This data underscores the growing consumption of non-alcoholic beverages, which is a driving factor in the caps and closures market's expansion.

The growing environmental concerns and regulatory actions represent the primary challenges that curtail the expansion of the caps and closure market in the forecast period. Environmentalists have voiced significant apprehensions about the use of plastic caps and closures due to their non-biodegradable nature, with the potential to take hundreds of years to decompose. The heightened awareness of environmental issues has led to the implementation of stringent regulations in many countries concerning the utilization of plastic caps and closures. For example, the European Union took action in July 2021 by banning single-use plastics like balloon sticks, straws, cotton buds, and cutlery, which includes plastic caps and closures, as part of an effort to mitigate plastic waste and pollution. Consequently, the mounting environmental concerns and regulatory restrictions are impeding the growth of the caps and closure market.

Prominent companies operating in the caps and closures market are dedicated to advancing packaging solutions, particularly sustainable closures, to fortify their market position. Sustainable closures constitute a category of packaging materials designed to reduce the environmental impact of packaging and foster sustainability. For instance, in March 2023, United Caps Holding SA, a plastic caps and closures manufacturer based in Luxembourg, introduced the 23 H-PAK, an inventive and sustainable attached closure for carton packaging. This patent-pending closure features a distinctive tamper-evident (TE) ring that keeps all components intact for easy recycling. The 23 H-PAK tethered closure is engineered for seamless integration with existing filling lines, ensuring a hassle-free interaction with current processes and swift adoption on production lines. Its unique tamper-evident (TE) ring preserves all parts for easy recycling.

In July 2022, the Guala Closures Group, an Italian manufacturer of aluminum and non-refillable caps and closures, acquired Labrenta Srl in a transaction of undisclosed value. This strategic acquisition enhances Guala's presence and extends its reach in the rapidly growing luxury closures sector. Labrenta Srl, an Italian manufacturer, specializes in synthetic cork and custom closures for premium spirits.

Major players 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.

Asia-Pacific was the largest region in the caps and closures market in 2023. The regions covered in caps and closures report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the caps and closures market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The principal categories of caps and closures include screw caps, dispensing caps, and other varieties. Screw caps, designed for bottles, jars, and tubes, securely fasten onto the threads of the container's neck. These caps are constructed from a range of materials, including plastics, metals, and others, and are produced using diverse manufacturing techniques like injection molding, compression molding, and the incorporation of post-mold tamper-evident bands. They find application across various industries, including food, beverages, healthcare, cosmetics, toiletries, and other sectors.

This report provides caps and closures market statistics, including caps and closures industry global market size, regional shares, competitors with a caps and closures market share, detailed caps and closures market segments, market trends and opportunities and any further data you may need to thrive in the caps and closures industry. This caps and closures market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The caps and closures market consists of sales of handle caps, flip-top caps, snap-to caps and tamper-resistant caps. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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