by According to a research report “Caps and Closures Market (By Product Type: Easy open Can Ends, Metal Lug Closures, Peel off Foils, Metal Crowns, Metal Screw Closures, Corks, Plastic Screw Closures, Others; and By Application: Food & Beverage, Healthcare, Cosmetics & Toiletries, Automotive, Pharmaceuticals, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research, the caps and closures market is projected to grow from USD 65.41 billion in 2022 and is forecasted to reach USD 92.5 billion by 2030; it is expected to grow at a CAGR of 4.4 % from 2021 to 2030.
The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.
The need for caps and closures has grown as a result of rising food consumption and growing concerns about product quality and safety. Due to growing consumer goods and packaged goods market, there is a greater demand for novel packaging materials that can preserve products from harsh environments without compromising their quality. As a result, the caps and closures market demand will be stimulated.
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The caps and closures market growth is expected to be driven by rising demand for various food products as well as alcoholic and non-alcoholic drinks. The caps and closures operate as an obstacle, protecting the packaging contents from light, ambient air, and dust particles, extending the shelf life of the product. The food and beverage packaging requires tight sealing since these products are susceptible to microbial attack. The caps and closures are used in a variety of other industries, including personal care and pharmaceuticals.
Table of Contents
Scope of the Caps and Closures Market
| Report Coverage | Details |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Segments Covered | Product, Application, Region |
Market Estimations Y-O-Y:
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Market Size Was Valued In 2021: US$ 65.41 Billion
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Market Size Is Projected to Grow By 2022: US$ 68.24Billion
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Market Size Is Projected to Grow By 2023: US$ 71.21 Billion
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Market Size Is Projected to Grow By 2024: US$ 5 Billion
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Market Size Is Projected to Grow By 2025: US$ 74.21 Billion
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Market Size Is Projected to Grow By 2026: US$ 80.95 Billion
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Market Size Is Projected to Grow By 2027: US$ 84.51 Billion
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Market Size Is Projected to Grow By 2028: US$ 88.23 Billion
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Market Size Is Projected to Grow By 2029: US$ 92.13 Billion
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Market Size Is Projected to Grow By 2030: US$ 96.2 Billion
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Compound Annual Growth Rate (CAGR) from 2022 to 2030: 4.4 percent
Market Dynamics
Drivers
Technological advancements
The most significant trend in the caps and closures market is the shift from two-piece combination closures to one-piece closures, which is mostly used for soft drinks. Furthermore, the caps and closure designs and models evolve with time to increase their qualities and robustness. As a result, modeling and simulation are constantly improving, allowing mold makers and molders to assess multiple resins and closure designs before prototyping, saving time and resources. Thus, the technological advancements is driving the growth of the caps and closures market during the forecast period.
Restraints
Uncertainty in the price of raw materials
The key factor limiting the growth of the caps and closures market is the inconstancy in the pricing of raw materials. The caps and closures market’s raw materials such as polycarbonate, steel, polypropylene, and aluminum are used in the manufacturing of the caps and closures. The cost of raw materials rises in combination with the demand for caps and closures, affecting the manufacturing cost of the caps and closures. As a result, the uncertainty in the price of raw materials is restricting the growth of the caps and closures market.
Opportunities
Surge in demand from packaging industry
One of the primary factors contributing towards the growth of the caps and closures market in the food and beverage industry is an increase in demand for packaging. The primary goal of the packaging industry is to preserve the shelf life of the food and beverage. The caps and closures aid in the process of extending product shelf life by acting as a barrier to dirt and oxygen. Furthermore, in developing nations like China and India, the tendency of shifting from unpacked to packed goods is on the rise. As a result, surge in demand from packaging industry is creating lucrative opportunities for the growth of the caps and closures market during the forecast period.
Challenges
Availability of substitutes
The increased use of containers without closures, such as pouches, is threatening the growth of the caps and closures market. This type of packaging provides the packager with a number of advantages, including low material costs. Many fast-moving consumer goods firms are using the pouch packaging format as a packaging innovation tool to provide consumers with more convenience. Thus, the availability of substitutes is a major challenge for the growth of the caps and closures market.
Why should you invest in this report?
If you are aiming to enter the global caps and closures market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for caps and closures are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Read Also: Clinical Nutrition Market Size to Gain US$61.8 Billion by 2030 | Potential Opportunity Is Opening in the Coming Years
Report Highlights
- Based on the product type, the plastic screw closures segment dominates the caps and closures market. The demand for this category is being driven by factors such as its cost-effectiveness, light weight, and ability to package a wide range of products from various industries.
- Based on application, the food and beverage segments hold the largest share in the caps and closures market. The market for caps and closures is driven by rising demand for fresh and high-quality packaged foods, customer convenience, and producers’ concerns about food products having a longer shelf life.
Regional Snapshot
Asia-Pacific is the largest segment for caps and closures market in terms of region. The caps and closures market in Asia-Pacific region will be boosted by factors such as the rise of the end user industries, as well as population growth, combined with government initiatives and economic development.
North America region is the fastest growing region in the caps and closures market. Since a decade, carbonated soft drinks have dominated the North American caps and closures market. People in this region, on the other hand, are becoming more health conscious and focusing on water and juices. The sales of juices and healthy drinks grew as a result of this transition, which had a beneficial impact on the caps and closures market.
Some of the prominent players in the global caps and closures market include:
- Berry Plastics Corporation
- Silgan Holdings Inc.
- Amcor Limited
- Rexam PLC
- RPC Group PLC
- Crown Holdings Inc.
- BERICAP GmbH Co. & KG
- Guala Closures Group
- Reynolds Group Holdings Limited
- Aptar Group Inc.
Segments Covered in the Report
By Product Type
- Easy open Can Ends
- Metal Lug Closures
- Peel off Foils
- Metal Crowns
- Metal Screw Closures
- Corks
- Plastic Screw Closures
- Others
By Application
- Food & Beverage
- Healthcare
- Cosmetics & Toiletries
- Automotive
- Pharmaceutical
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Caps and Closures Market
5.1. COVID-19 Landscape: Caps and Closures Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Caps and Closures Market, By Product
8.1. Caps and Closures Market, by Product Type, 2021-2030
8.1.1. Easy open Can Ends
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Metal Lug Closures
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Peel off Foils
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Metal Crowns
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Metal Screw Closures
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Corks
8.1.6.1. Market Revenue and Forecast (2019-2030)
8.1.7. Plastic Screw Closures
8.1.7.1. Market Revenue and Forecast (2019-2030)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Caps and Closures Market, By Application
9.1. Caps and Closures Market, by Application, 2021-2030
9.1.1. Food & Beverage
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Healthcare
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Cosmetics & Toiletries
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Automotive
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Pharmaceutical
9.1.5.1. Market Revenue and Forecast (2019-2030)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Caps and Closures Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
Chapter 11. Company Profiles
11.1. Berry Plastics Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Silgan Holdings Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Amcor Limited
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Rexam PLC
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. RPC Group PLC
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Crown Holdings Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. BERICAP GmbH Co. & KG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Guala Closures Group
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Reynolds Group Holdings Limited
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Aptar Group Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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