Child Resistant Closures Market likely to surge at a vigorous 6.1% CAGR during the assessment period 2022-2028

The Insight Partners published an exclusive report, titled, "Child Resistant Closures Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material (Polypropylene, Polyethylene, Metal, and Others), Closure Type (Push and Turn, Squeeze and Turn, and Others), and End Use (Pharmaceutical, Household Product, Cosmetic and Personal Care, Chemicals and Fertilizer, Food and Beverage, and Others)". 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.

Major key players covered in this Child Resistant Closures Market report:

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

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The growth of the child resistant closures market is driven by the stringent regulations implemented for various packaging to prevent accidental deaths of children. The market is experiencing high growth prospects as the end use industries are growing at a significant pace. The increased introduction of novel products such as ..-infused foods has expanded the child resistant closures market as the product is not safe for children and requires mandatory child resistant packaging. Moreover, household products, chemicals, and fertilizers are increasingly being introduced with child resistant packaging, as these products have been the leading causes of accidental poisoning in children.

Based on material, the global child resistant closures market is segmented into polypropylene, polyethylene, metal, and others. In 2021, the polypropylene segment accounted for the largest revenue share, and the polyethylene segment is expected to account for the highest CAGR over the forecast period. Polypropylene is inexpensive and does not suffer damage from sunlight, unlike other plastics, which has led the segment to register a high market share.

Based on closure type, the global child resistant closures market is segmented into push and turn, squeeze and turn, and others. In 2021, the push and turn segment accounted for the largest revenue share, and it is expected to account for the highest CAGR over the forecast period. The easy mechanism of push and turn closures and compatibility of the closure type with various bottles and packaging have resulted in significant market share for the segment.

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By region, the child resistant closures market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). In 2020, Asia Pacific held the largest share of the market. However, North America is estimated to register the highest CAGR in the market during the forecast period.

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This release was published on openPR.