Press release
Plastic Caps And Closures Market Anticipated To Witness Robust Growth, Surpassing $73.32 Billion By 2029
Plastic Caps And Closures
How Big Is the Plastic Caps And Closures Market Size Expected to Be by 2034?
In the past few years, the market size for plastic caps and closures has seen significant growth. It is projected to expand from $49.91 billion in 2024 to $53.43 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The growth during the historic period was spurred by factors such as competitive-driven innovation, the effects of market globalization, the impact of consumer preferences, and the advent of innovative closure designs.
The industry of plastic caps and closures is anticipated to witness substantial expansion in terms of its market value in the coming years. The market is forecasted to inflate to $73.32 billion by 2029, with a compound annual growth rate (CAGR) of 8.2%. Several factors driving this growth during the prediction period include an increase in the requirement for packaged products, a shift towards sustainable methods, the demand for lightweight alternatives, customization and branding necessities, and adjustments according to consumer tastes. Key trends expected during the forecast period encompass competition and product distinction, extension of the global market, response to consumer tastes by the market, adherence to regulations, and an increasing need for convenience.
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What Are the Emerging Segments Within the Plastic Caps And Closures Market?
The plastic caps and closures market covered in this report is segmented -
1) By Product Type: Screw Caps, Dispensing Caps, Other Product Types
2) By Materials: Polypropylene, Polystyrene, Polyethylene, Other Materials
3) By End-User: Pharmaceutical, Personal Care, Food And Beverages, Other End-Users
Subsegments:
1) By Screw Caps: Metal Screw Caps, Plastic Screw Caps, Child-Resistant Screw Caps, Tamper-Evident Screw Caps
2) By Dispensing Caps: Flip-Top Caps, Pump Dispensers, Nozzle Caps, Spray Caps
3) By Other Product Types: Corks, Snap-On Caps, Spout Caps, Specialty Closures
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What Long-Term Drivers Are Shaping Plastic Caps And Closures Market Trends?
The surge in global consumer demand for bottled water is fueling the plastic caps and closures industry. Bottled water typically denotes drinking water packed in plastic or glass bottles. These bottles are sealed with plastic caps and closures to prevent leakage, ease transportation, and prolong product longevity. For example, the International Bottled Water Association, a trade organization based in the USA, reported that in May 2023, Americans drank an average of 46.5 gallons of bottled water in 2022, nearing $46 billion from $40.8 billion in 2021. This trend is projected to persist in the upcoming period, thereby propelling the demand for plastic caps and the closure market.
Who Are the Top Competitors in Key Plastic Caps And Closures Market Segments?
Major companies operating in the plastic caps and closures market include Berry Global Inc., Amcor plc, Crown Holdings Inc., Silgan Holdings Inc., AptarGroup Inc., Berlin Packaging LLC, Albea SA, BERICAP GmbH & Co KG, Closure Systems International Inc., CL Smith Company, O.Berk Company, TricorBraun Ltd., Pretium Packaging LLC, United Caps Luxembourg S.A., Mold-Tek Packaging Ltd., Phoenix Closure Inc., Mold-Rite Plastics LLC., United States Plastic Corp, Tim Plastics Inc., Kaufman Container, Pano Cap Limited, Blackhawk Molding Co Inc., Comar LLC., MJS Packaging Services Ltd., Plastic Closures Ltd., Caps & Closures Pty Ltd., Weatherchem Corporation, Guala Closures Group India Pvt Ltd., Cap & Seal Pvt Ltd., Hicap Closures Co Ltd., All American Containers Inc., Alpha Packaging Pvt Ltd., CKS Packaging Inc.
What Are the Major Trends Shaping the Plastic Caps And Closures Market?
Major actors in the market of plastic caps and closures are striving to introduce and innovate products that satisfy the sustainability guidelines put forth by worldwide governing authorities. In a particular case from October 2023, Berry Global, an American packaging firm, presented the Slimline range, a novel lightweight solution for tube closure. This solution, apart from showcasing modern design and diverse material use, also mitigates greenhouse gas emissions, unlike conventional caps. These closures are offered in two sizes - 35mm and 50mm in diameter - with matte or shiny surface finishes, and either 3mm or 5mm orifices.
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Which Regions Are Becoming Hubs for Plastic Caps And Closures Market Innovation?
Asia-Pacific was the largest region in the plastic caps and closures market in 2024. The regions covered in the plastic caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Plastic Caps And Closures Market?
2. What is the CAGR expected in the Plastic Caps And Closures Market?
3. What Are the Key Innovations Transforming the Plastic Caps And Closures Industry?
4. Which Region Is Leading the Plastic Caps And Closures Market?
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