Press release
Caps and Closures Market Share, Size, Trends & Industry Growth 2024-2032
Caps and Closures Market
According to the report by Expert Market Research (EMR), the global caps and closures market size reached a value of USD 72.26 billion in 2023. Aided by the burgeoning demand across various end-use sectors including food and beverage, pharmaceuticals, cosmetics, and home care products, the market is projected to further grow at a CAGR of 4.6% between 2024 and 2032 to reach a value of USD 107.99 billion by 2032.
Caps and closures are essential components in packaging, providing the first line of defence against contamination while offering ease of access to the contents within. Their significance is magnified in the context of ensuring product safety, maintaining freshness, and facilitating consumer convenience.
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The caps and closures market growth is propelled by several key factors. The expanding global food and beverage sector, with an escalating demand for packaged goods, stands as a primary driver. The need for reliable sealing solutions in beverages, dairy products, and ready-to-eat meals underscores the indispensability of caps and closures in maintaining food safety and quality. Moreover, the pharmaceutical sector's expansion, driven by an ageing population and a heightened focus on healthcare, necessitates advanced caps and closures to ensure medication efficacy and safety. Child-resistant closures, tamper-evident seals, and user-friendly designs for the elderly are gaining prominence, reflecting the market's evolving needs.
In the cosmetic and home care sectors, innovation in caps and closures is closely tied to brand differentiation and consumer appeal. Aesthetic design, ease of use, and functionality such as dispensing mechanisms are critical considerations that influence the caps and closures market. Sustainability trends are reshaping the market, with a growing emphasis on eco-friendly materials and recyclable solutions. The market is witnessing a shift towards biodegradable plastics, metal closures, and designs that minimise material use without compromising functionality.
The caps and closures market expansion has seen an upward trend due to changes in consumer behaviour around alcoholic beverage consumption, particularly during the COVID-19 pandemic. The increase in at-home consumption of beverages like beer, which often uses metal can closures, has spurred demand in this segment. The design and functionality of caps and closures are evolving to meet consumer demands for convenience. This includes the development of easy-to-open, resealable, and dispensing closures that improve the usability of packaged goods.
According to the caps and closures market analysis, technological innovations play a pivotal role in the evolution of the caps and closures market. Smart closures equipped with QR codes, RFID tags, and other digital elements are emerging, offering enhanced product tracking, authenticity verification, and consumer engagement. These technologies are setting new standards for security, convenience, and interactive experiences. The development of lightweight and high-barrier closures reflects ongoing efforts to improve material efficiency and product protection. Such advancements not only contribute to sustainability goals but also offer cost savings through reduced material usage and transportation efficiencies.
The Asia Pacific region occupies significant caps and closures market share and is expected to exhibit the highest growth rate due to factors such as increasing disposable income, rising consumption of processed and packaged food and beverages, and advancements in packaging solutions. Meanwhile, North America remains a significant market, driven by its strong processed food and healthcare sectors, as well as ongoing innovation.
As per the caps and closures market outlook, the market is subject to strict regulations and safety standards that influence the design and material composition of caps and closures. Compliance with these regulations, particularly in the food, beverage, and pharmaceutical sectors, is a critical driver as companies strive to ensure the safety and integrity of their products.
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Caps and Closures Market Segmentation
The market can be divided based on material, product, application, and region.
Market Breakup by Material
Plastic
Metal
Others
Market Breakup by Product
Easy-open Can End
Metal Lug Closures
Peel-off Foils
Screw Closures
Metal Crowns
Corks
Others
Market Breakup by Application
Food
Beverages
Healthcare
Cosmetics
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global caps and closures market. Some of the major players explored in the report by Expert Market Research are as follows:
Amcor Plc
Berry Global Inc.
AptarGroup, Inc.
Crown Holdings, Inc.
Nippon Closures Co., Ltd.
Closure Systems International Inc.
Guala Closures S.p.A
United Caps S.A.
Silgan Closures GmbH
BERICAP Holding GmbH
Caps and Closures Pty Ltd.
Others
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