Caps And Closures Market: Regional Growth, Challenges, and Forecast with CAGR 5.3% by 2030 | Amcor plc, AptarGroup, Inc, BERICAP, Berry Global Inc

Caps And Closures Market Scope:
Market size value in 2023 - USD 9,083.4 Million
Market size value in 2030 - USD 13,167.2 Million
CAGR (2023-2030) - 5.3%
Forecast Period - 2023-2030
Historic Data - 2019
Segments Covered - Source, Material, Application & Region
Geographies Covered - North America, Europe, Asia Pacific, and RoW
Sample of Companies Covered - Berry Global Inc, CL Smith (Novvia Group), Closure Systems International, Mold-Rite Plastics, Nippon Closures Co., Ltd, Takemoto Yohki Co., Ltd

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Browse in-depth TOC on "Caps And Closures Market"
144 - Tables
99 - Figures
362 - Pages

North America dominates the market for Caps And Closures.
The robust growth of the consumer and industrial goods sectors in North America is driving an increasing demand for advanced packaging materials capable of withstanding challenging conditions without compromising product quality. Significant investments are being directed towards the development of plastic caps and closures, specifically tailored to meet the unique needs of end-users, particularly in sectors like household chemicals.
Plastic caps and closures play a crucial role in preserving the freshness and characteristics of packaged products, offering features such as leak resistance and protection against contamination. Additionally, they contribute to factors such as visual appeal, brand differentiation, and consumer convenience. Their significance is highlighted in the packaging industry, acting as a key driver for market growth. The North American market is poised to maintain a steady momentum, fueled by the increasing demand for packaged products, with the food and beverage industry emerging as a major contributor to the caps and closures market in the United States.
According to data from the US-based National Retail Solutions (NRS), independently owned convenience stores in North America experienced a noteworthy 4.6% year-on-year growth in July 2021. The use of caps and closures is further accelerated by heightened sales of beverages, with beer, flavored malt beverages (FMBs), and hard cider witnessing a remarkable 10.7% growth in July 2021 across nearly 12,000 individual outlets, compared to a 7.5% year-to-date basis.
The caps and closures market in North America displays a notable degree of fragmentation, with innovation in design, technology, and application serving as a key avenue for establishing a sustainable competitive advantage. Over the past decade, market penetration levels have seen substantial growth, driven by increasing demand from the cosmetics and pharmaceutical industries in the region. The market is also witnessing various mergers and acquisitions, signaling strategic developments within the industry.

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Top key players covered in the market report:
Amcor plc, AptarGroup, Inc, BERICAP, Berry Global Inc, CL Smith (Novvia Group), Closure Systems International, Mold-Rite Plastics, Nippon Closures Co., Ltd, Takemoto Yohki Co., Ltd, West Pharmaceutical Services, Inc and Others.

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Recent Developments
December 2023, Novvia Group successfully acquired Ocean State Packaging, known for its extensive range of bottle shapes, sizes, and substrates, including caps and closures for diverse applications. Operating with offices in Rhode Island and New Jersey, Ocean State not only provides consultative sales support but also offers a suite of value-added services, including design and decoration capabilities.

https://industrytoday.co.uk/market-research-industry-today/comprehensive-market-analysis-on-caps-closures-market-projected-to-reach-usd-131672-million-by-2030-includes-partner-and-customer-ecosystem-new-developments-vendor-technology-assessment

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