Caps & Closures Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Caps & Closures Market grew at a CAGR of 4.8% between 2017-2021 and is estimated to be US$ 58,936.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.2% and is expected to reach a valuation of US$ 97,845.2 Mn by 2032 end.
The market demand for Caps and Closures is expected to be driven by the escalating demand for several food products and alcoholic and non-alcoholic beverages, coupled with increased disposable income levels of customers in developing economies.
ChemView Consulting has analyzed that Caps & closures are intimately linked to the expanding and diversifying packaging markets. Cap and closure products include containers such as cans, caps, and others. It helps extend the products’ shelf-life and provides a barrier to dirt, oxygen, and moisture.
The growing demand for smaller packaging sizes and bottled water from various industries such as beverage, food, and healthcare is a factor attributing to the growth of the caps & closure market. The rising use of packaging is driving caps & closures market growth.
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Segments Covered in Report
- Plastics Caps & Closures
- Screw Caps
- Dispensing Caps
- Metal Caps & Closures
- Screw & Lung Caps
- Crown Caps
- Other Caps & Closures
- Others (PET, PA, and more)
- Cosmetics & Toiletries
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Caps & Closures Market
- Based on the type, the plastic screw closures segment dominates the caps and closures market. This category’s requirement is driven by its lightweight, cost-effectiveness, and ability to package various products from various industries.
- Based on End Use, the food and beverage segments hold the largest market share regarding revenue. The market for caps and closures is driven by escalating demand for fresh and high-quality packaged foods, customer convenience, and producers’ concerns about food products’ longer shelf life.
- Based on Region, the North American market held a sizeable revenue share of 27.9% in 2021. Carbonated soft drinks have led the North American caps and closures market, while people in this Region are becoming more health-conscious and focusing on water and juices. The sales of juices and healthy drinks grew due to this transition, which benefited the caps and closures market.
Key companies covered in the market study are Amcor Plc, Silgan Plastic Closure Solutions, Aptar Group, UNITED CAPS Crown Holdings Inc, BERICAP Holding GmbH, Guala Closures S.p.A, Closure Systems International, Inc, Nippon Closures Co., Ltd., Mold-Rite Plastics, LLC, Pelliconi & C. Spa., Weener Plastik GmbH, Blackhawk Molding Co. Inc., O.Berk Company, LLC.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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