Child Resistant Closures Market projected to expand at a CAGR of 5.5% over the period between 2017 and 2025

Global Child Resistant Closures Market: Snapshot

Child resistant closures are the types of closures that are difficult for children below the age of 5 years to open and require assistance of an adult. Such closures are specifically designed to prevent any hazard to children’s health from the accidental consumption of intoxicating substances or pharmaceutical products. The market has expanded at a promising pace in the past few years and continues to be driven at a steady pace.

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The growth of the global child resistant closures market can be attributed to the rising need for effective reduction of drug intoxication cases. Easy open packaging have led to several reported cases of drug intoxication among children. The introduction of child resistant packaging has been associated with the reduction in mortality rate in the United States. Child resistant closures are designed in accordance with strict pharmaceutical industry regulations, which are aimed at preventing the potential cases of accidental drug intoxication among children.

The global child resistant closures market is expected to expand at a CAGR of 5.5% to reach US$2,157.4 mn by the end of 2025. In terms of volumetric consumption, the market is estimated to be pegged at 13.4 bn units in 2017.

Push and Turn Closures to Remain Most In-Demand Product Variety

On the basis of closure type, the global child resistant closures market is segmented into push & turn closure, squeeze & turn closure and others. Push and turn closure is expected to account for a major market revenue share of more than 70% of the overall market by the end of 2025. On the basis of end use, the global market is segmented into pharmaceuticals, household and personal care, chemicals and fertilizers, food and beverages, and automotive. Of these, the Pharmaceuticals segment is expected to account for a market revenue share of more than 90% by the end of 2025.

On the basis of material type, the global market is segmented into PP, LDPE, HDPE, and Others. PP is expected to dominate among the various material types due to its chemically inert properties and non-reactivity with the packaged product. By tamper evidence, the global market is segmented into tamper evident and non-tamper evident. Tamper evident segment is anticipated to maintain its dominance all throughout the forecast period. Tamper evident closures along with child resistance feature also ensure that the product is being transported in its intact form.

North America to Remain Leading Consumer of Child Resistant Closures, thanks to Strict Mandates Governing Pharma Industry

North America held the dominant share in the global market in terms of revenue in 2016. The regional market is also is expected to remain the most lucrative and promising regional market over the report’s forecast period, representing an incremental opportunity of US$347.8 mn over the period between 2017 and 2025. The growth of the region can be attributed to a well-established pharmaceutical packaging industry along with the high preference to bottles as a product type. The North America market for child resistant closures is expected to register a CAGR of 6.3 % over the said period, with sales particularly concentrated in the United States.

The markets in Europe and Asia Pacific are also likely to remain competitive and present promising growth opportunities owing to the steadily expanding pharmaceutical and pharmaceutical packaging industries. The Europe market is expected to register a CAGR of 4.3% over the forecast period. The APAC market is expected to expand at the CAGR of 6.1% and is anticipated to grow by 61% of its current market size by the end of 2025. Latin America market for child resistant closures is expected to constitute 7.2% of the market revenue share of the global market and is expected to grow at a CAGR of 4.6%.

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Some of the leading companies in the global child resistant closures market are Closures Systems International, Inc., Silgan Plastic Closures Solutions, BERICAP GmbH & Co. KG, Global Closures Systems, Aptar Group, Inc., Berry Global, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., and CL Smith Company.

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This release was published on openPR.