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Plastic Caps And Closures: A Leading Driver Behind Surging Global Demand For Bottled Water Propels Growth In Plastic Caps And Closures Market Market Expansion in 2025
Plastic Caps And Closures Market
What Will the Plastic Caps And Closures Industry Market Size Be by 2025?
The plastic caps and closures market has expanded strongly in recent years. It will rise from $49.91 billion in 2024 to $52.92 billion in 2025, recording a CAGR of 6.0%. Key factors included competitive innovation, globalization, consumer demand, and new closure designs.
What's the Long-Term Growth Forecast for the Plastic Caps And Closures Market Size Through 2029?
The market size for plastic caps and closures is projected to witness significant expansion in the coming years. The market will escalate to a value of $71.78 billion by 2029, rising at a compound annual growth rate (CAGR) of 7.9%. The boosts in the market during the forecast period can be linked to the escalating demand for packaged products, focus on sustainability, inclination towards lightweight solutions, requirements for customization and branding, as well as adjusting to consumer preferences. Key market trends throughout the forecast period encompass competitive product differentiation, global market extension, reacting to customer preferences, regulatory fulfillment, and the growing demand for convenience.
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What Are the Key Growth Drivers Fueling the Plastic Caps And Closures Market Expansion?
The global rise in consumer demand for bottled water is propelling the market for plastic caps and closures. Drinking water packaged in either plastic or glass bottles, known as bottled water, necessitates the use of plastic caps and closures. These plastic components prevent leaks, simplify transportation, and enhance product longevity. In May 2023, data from the International Bottled Water Association, a trade organization based in the US, showed that Americans consumed an average of 46.5 gallons of bottled water in 2022. This brought the market worth to nearly $46 billion, rising from $40.8 billion in 2021. This upward trend is predicted to persist during the forecast period, thereby stimulating further demand for plastic caps and the closure market.
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What Are the Key Trends Driving Plastic Caps And Closures Market Growth?
Main businesses in the plastic caps and closures marketplace are concentrating on producing and unveiling imaginative items to fulfill the sustainability goals established by global authorities. For example, Berry Global, a packaging company based in the US, brought forth a novel lightweight tube closure product known as the Slimline range in October 2023. This was engineered to offer a modern aesthetic and flexibility in material while cutting down on greenhouse gas pollutants as compared to traditional lids. These closures come in diameters of 35mm and 50mm with matte and glossy exteriors, along with orifices measuring 3mm and 5mm.
How Is the Plastic Caps And Closures Market Segmented?
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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Which Companies Are Leading the Charge in Plastic Caps And Closures Market Innovation?
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.
Which Regions Are Leading the Global Plastic Caps And Closures Market in Revenue?
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.
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