Child Resistant Closures Market Share, Sales Channels and Overview Till 2028

The market for child resistant closures is witnessing high demand due to increasing packaging regulations to avoid cases of accidental poisoning in children. Child resistant closures are prevalent in end use industries such as pharmaceutical and chemicals & fertilizers industry; however, novel end uses in the food & beverages industry, such as canabis-infused food packaging, are expected to augment the growth of child resistant closures over the forecast period.

The child resistant closures market is expected to grow from US$ 2,415.35 million in 2022 to US$ 3,444.40 million by 2028; it is expected to grow at a CAGR of 6.1% from 2022 to 2028.

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Due to the high incidence of accidental poisoning in children under the age of six years old as few medicines appear attractive to them due to their distinct color and small size. Government regulatory procedures like the FDA in some of the key nations have led to a positive impact on this industry. Though the market seems optimistic in the coming years, preventing children from gaining easy access to medicinal products will not be easy to overcome.

According to Research from the European Child Safety Alliance, every year, 3,000 children under the age of 14 die from acute poisoning in the European Union. However, many countries have imposed strict regulations to control acute poisoning. For instance, the US Consumer Product Safety Commission imposed the Poison Prevention Packaging Act in 1970. This act is to prevent accidental hazardous or accidental ingestions and to ensure childs safety. Such strict laws and regulations are advising manufacturers to use child-resistant closures to protect children from accidental drug poisoning, thereby driving the growth of the child-resistant closures market.

Berry Global Inc.; AptarGroup, Inc.; O.Berk Company; CL Smith; Georg MENSHEN GmbH and Co. KG; Tecnocap S.p.A.; United Caps; Van Blarcom Closures Inc.; HEINLEIN PLASTIK-TECHNIK GMBH; and BERICAP are the key players operating in the global child resistant closures market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.

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This release was published on openPR.