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The plastic caps and closures market is estimated to grow at a CAGR of 5.2% between 2022 and 2027. The market size is forecasted to increase by USD 13,141.31 million. The growth of the market depends on several factors, including the growing demand for packaged beverages, the increasing demand for caps and closure from the pharmaceutical industry, and the demand for improved packaging designs.
This plastic caps and closures market report extensively covers market segmentation by end-user (food and beverages, cosmetics and personal care products, pharmaceuticals, and others), type (polypropylene, polyethylene, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing demand for caps and closure from the pharmaceutical industry is notably driving the market growth, although factors such as competition from closure-less packaging may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for caps and closure from the pharmaceutical industry is notably driving market growth. The aging population and new product innovation by pharmaceutical manufacturers are driving the pharmaceutical industry. In addition, the rising health awareness is increasing the sales of over-the-counter (OTC) drugs. Manufacturers of OTC drugs are introducing specific medicines for treating minor ailments, which, in turn, is increasing their overall sales. The rise in sales is expected to increase the demand for caps and closures for pharmaceuticals.
New packaging technologies are being introduced globally due to the increasing need for convenient packaging among consumers. Innovative pharmaceutical packaging is easy to use, especially for the elderly population. In multi-dose packaging, a single container holds the prescribed medicines for multiple doses. Thus, the increasing demand for convenience in pharmaceutical packaging is expected to drive the growth of the global caps and closures market during the forecast period.
The emergence of sustainable packaging is a key trend shaping the market. Environmental concerns about plastic packaging have led to an increase in the demand for sustainable packaging among pharmaceutical, food and beverage, and personal care product manufacturers. The plastic materials used in caps and closures are mainly derived from petroleum feedstock and have a harmful effect on the environment. Therefore, manufacturers of pharmaceuticals and food products and other end-users are adopting eco-friendly and recyclable caps and closures. For instance, in September 2020, Johnson & Johnson announced its sustainable goal to use 100% reusable, recyclable, and compostable packaging by 2025.
Vendors of plastic caps and closures are focusing on offering sustainable and recyclable packaging solutions due to the rising preference for eco-friendly packaging. Such initiatives are expected to fuel the demand for recyclable and sustainable packaging materials, including plastic, for the production of caps and closures. These factors will, in turn, drive the growth of the market during the forecast period.
The competition from closure-less packaging is challenging market growth. Companies prefer closure-less packaging such as stand-up pouches and blister packs. However, this type of packaging may impede market growth in the long run. Various food and beverage products do not require closure. However, packaging solutions such as blister packs, stand-up pouches, aluminum cans, and pouch packaging have various advantages such as ease of use, storage, and flavor preservation.
A retort pouch is made up of multiple layers of laminates. It is specially designed without caps or closures. These pouches are used for sterile packaging of milk, juices, and convenience food products. They are compact, convenient to use, and lightweight and keep the contents fresh. For instance, Amcor offers retort pouches for food products such as ready meals, soups, pre-cooked rice, baby foods, and wet pet food. The launch of new innovative products, such as Tetrapak packages, will lower the demand for caps and closures during the forecast period. Thus, the presence of closure-less packaging will hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Plastic Caps and Closures Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Closure Systems International Inc. - The company offers plastic caps and closures such as 38D-KF, 38D-KL, AM-Lok 28mm. It also offers capping machines, cap handling systems, headsets, chunks, and spare parts as well as technical services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food and beverages segment will be significant during the forecast period. This segment includes carbonated soft drinks, liquid packaged foods, ready-to-eat packaged foods, packaged water, non-carbonated beverages, and other beverages.
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The food and beverages segment was valued at USD 30,814.78 million in 2017 and continued to grow until 2021. The growth of this segment is attributed to factors such as the rapid rise in the demand for health drinks, sports and energy drinks, juices, and alcoholic drinks. Consumers' preferences are shifting toward packaging solutions that are easily moldable and printable. The adoption of innovative packaging solutions is also driving the growth of this segment. Plastic-based caps and closures are widely used in beverage packaging, as they can be recycled and have stronger barrier properties. Moreover, the demand for plastic closures is expected to surge in the future owing to the rising consumption of convenience foods. These factors will drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Manufacturing activities in APAC, especially in India, China, Japan, Singapore, and Australia, have grown in the past decade. The food habits of consumers are changing with rapid urbanization. The trend of on-the-go food and beverage products has led to an increase in the demand for packaged food products. Therefore, plastic caps and closures are gaining traction in many food manufacturing facilities. During the forecast period, the development of advanced packaging solutions is expected to grow. More vendors are expected to enter the market to capitalize on this trend and develop custom-designed caps and closures at competitive prices. This, in turn, will drive the growth of the market during the forecast period.
The plastic caps and closures market in APAC witnessed certain challenges in 2020 due to the outbreak of COVID-19. However, the pharmaceutical industry in the region witnessed a rise in demand for OTC drugs for the treatment of COVID-19, which propelled the demand for plastic caps and closures. Moreover, the initiation of vaccination drives in 2021 led to the relaxation of lockdown norms. The resumption of operations in end-user industries such as food and beverage and cosmetics positively impacted the market. Such factors will drive the growth of the regional market during the forecast period.
The plastic caps and closures market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the plastic caps and closures market as a part of the global metal and glass containers market within the overall global containers and packaging market. The global metal and glass containers market includes products of metal, glass, or plastic containers, including corks and caps. The global containers and packaging market includes the combined revenue generated by manufacturers/providers of metal, glass, and plastic containers and paper packaging. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Plastic Caps And Closures Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
Market growth 2023-2027 |
USD 13,141.31 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.45 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, Germany, and Russia |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albea Services SAS, Amcor Plc, AptarGroup Inc., Berry Global Inc., Caprite Australia, Chemco Group, Closure Systems International Inc., Coral Products Plc, Crown Holdings Inc., Guala Closures SpA, HERTI JSC, HQC Inc., MJS Packaging, O.Berk Co. LLC, Pelliconi and C SpA, Premier Vinyl Solutions Ltd., Secure Industries Pvt. Ltd., Silgan Holdings Inc., TriMas Corp., and United States Plastic Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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