Pharmaceutical Caps and Closures Market by Material and Geography - Forecast and Analysis 2021-2025

The pharmaceutical caps and closures market share is expected to increase by USD 3.56 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 11.59%.

This pharmaceutical caps and closures market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers pharmaceutical caps and closures market segmentation by material (plastic, metal, and rubber or cork) and geography (North America, Europe, APAC, South America, and MEA). The pharmaceutical caps and closures market report also offers information on several market vendors, including Amcor Plc, Berry Global Group Inc., Caps & Closures Pty Ltd., Closure Systems International Inc., O.Berk Co. LLC, Phoenix Closures Inc., Rochling SE, and Co. KG, Saudi Basic Industries Corp., Silgan Holdings Inc., and Tecnocap SpA among others.

What will the Pharmaceutical Caps And Closures Market Size be During the Forecast Period?

Download Report Sample to Unlock the Pharmaceutical Caps and Closures Market Size for the Forecast Period and Other Important Statistics

 

Pharmaceutical Caps And Closures Market: Key Drivers, Trends, and Challenges

The development of child-resistant and tamper-evident packaging is notably driving the pharmaceutical caps and closures market growth, although factors such as risks associated with biodegradability and carcinogenicity of plastics may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pharmaceutical caps and closures industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Pharmaceutical Caps And Closures Market Driver

The development of child-resistant and tamper-evident packaging is one of the key factors driving the growth of the global pharmaceutical caps and closures market. Child-resistant packaging is a type of packaging with safety caps or closures. It reduces the risk of children ingesting hazardous materials. Child-resistant packaging is required for prescription drugs, as well as OTC medications, for both adults and children according to regulations. The occurrence of numerous accidents that involved children opening the packaging and ingesting the contents led the United States Congress to pass the Poison Prevention Packaging Act of 1970. According to the regulations of the US FDA, the packaging of OTC drug products must be tamper-evident. Tamper-evident packaging must have one or more indicators or barriers to entry, which, if breached or missing, can provide visible evidence to consumers that tampering has occurred. Moreover, the indicator or barrier must be designed from materials that are not readily available to the public to prevent duplication. This drives the demand for child-resistant and tamper-evident caps and closures and reassures people about the authenticity of the pharmaceuticals. Hence, the development of child-resistant and tamper-evident packaging is likely to drive the global pharmaceutical caps and closures market during the forecast period.

Key Pharmaceutical Caps And Closures Market Trend

The growing popularity of lightweight packaging materials will fuel the global pharmaceutical caps and closures market growth. The increasing demand for innovative lightweight materials is one of the major trends in the global pharmaceutical caps and closures market. Vendors are increasingly providing lightweight and high-performance corrugated grades to reduce costs and improve the performance of packaging. Reduced costs resulting from low material consumption during the manufacturing process and high shipping efficiency of lightweight caps and closures. Low material consumption during the manufacturing process also reduces the environmental impact during the entire process. Lightweight packaging materials provide a barrier that is resistant to light, air, and moisture. Packaging materials such as rigid plastics are suitable for airtight seals in caps and closures, which protect the contents from moisture, particulate, and oxidation. Therefore, goods manufacturers are adopting lightweight rigid plastic packaging. For instance, Amcor has developed a lightweight, hot-fill beverage plastic bottle for its client product, Agua Enerviva. Hence, the increase in the adoption of lightweight packaging materials will simultaneously aid the growth of the caps and closures market during the forecast period.

Key Pharmaceutical Caps And Closures Market Challenge

Risks associated with biodegradability and carcinogenicity of plastics are the major challenge for the global pharmaceutical caps and closures market growth. Pharmaceutical packaging heavily relies on the use of plastics, such as polyethylene, polypropylene, polyolefin, poly (vinyl chloride), and polyethylene terephthalate. However, there are several concerns with the use of plastics for pharmaceutical packaging, especially regarding the biodegradability and carcinogenicity of the material. There are numerous leachables from plastics that may cause harm to customers or even interact with pharmaceuticals. Some of the leachables include bisphenol A; di(2-ethylhexyl) phthalate, a potential carcinogen and endocrine disrupter that helps make plastics. The non-biodegradable property of plastic limits the wide use of certain plastics in caps and closures. These factors have prompted various agencies across the world to discourage the use of plastic and opt for substitute materials such as glass, metal, and rubber, which can potentially make caps and closures more expensive, thereby hampering their use in pharmaceutical packaging. Hence, the risks associated with the biodegradability and carcinogenicity of plastics are likely to hinder the growth of the global pharmaceutical caps and closures market during the forecast period.

This pharmaceutical caps and closures market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global pharmaceutical caps and closures market as a part of the global metal and glass containers market within the overall global containers and packaging market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the pharmaceutical caps and closures market during the forecast period.

Who are the Major Pharmaceutical Caps And Closures Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Amcor Plc
• Berry Global Group Inc.
• Caps & Closures Pty Ltd.
• Closure Systems International Inc.
• O.Berk Co. LLC
• Phoenix Closures Inc.
• Rochling SE and Co. KG
• Saudi Basic Industries Corp.
• Silgan Holdings Inc.
• Tecnocap SpA

 

This statistical study of the pharmaceutical caps and closures market encompasses successful business strategies deployed by the key vendors. The pharmaceutical caps and closures market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Amcor Plc - The company offers pharmaceutical caps and closures such as STELVIN and more.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The pharmaceutical caps and closures market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Pharmaceutical Caps And Closures Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the pharmaceutical caps and closures market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global containers and packaging market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Pharmaceutical Caps And Closures Market?

For more insights on the market share of various regions Request PDF Sample now!

32% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for pharmaceutical caps and closures market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The development of child-resistant and tamper-evident packaging will facilitate the pharmaceutical caps and closures of market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 outbreak positively impacted the growth of the regional pharmaceutical caps and closures market during 2020-2021. The outbreak has prompted vendors to come up with new business strategies. There is a high demand for pharmaceutical caps and closures due to the spike in the sales of OTC drugs such as acetaminophen, naproxen, and ibuprofen, which are often made available in bulk and provided in small containers to customers. Furthermore, the initiation of vaccination drives in the first half of 2021 has led to a rise in production activities in end-user industries, which is generating the demand for packaging solutions, including caps and closures. Such factors are expected to drive the growth of the pharmaceutical caps and closures market during the forecast period.

What are the Revenue-generating Material Segments in the Pharmaceutical Caps And Closures Market?

To gain further insights on the market contribution of various segments Request a PDF Sample

The pharmaceutical caps and closures market share growth by the plastic segment will be significant during the forecast period. Pharmaceuticals that come in the form of ointments, syrups, and other cosmeceutical products extensively use plastic caps and closures, as plastic does not react with the product packed inside. This segment is likely to be the fastest-growing segment during the forecast period, as most manufacturing companies prefer plastic packaging over metal and glass because of its lightweight and durable characteristics.

This report provides an accurate prediction of the contribution of all the segments to the growth of the pharmaceutical caps and closures market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Pharmaceutical Caps And Closures Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 11.59%
Market growth 2021-2025	$ 3.56 billion
Market structure	Fragmented
YoY growth (%)	9.57
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 32%
Key consumer countries	US, China, Canada, Germany, and the UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Amcor Plc, Berry Global Group Inc., Caps & Closures Pty Ltd., Closure Systems International Inc., O.Berk Co. LLC, Phoenix Closures Inc., Rochling SE, and Co. KG, Saudi Basic Industries Corp., Silgan Holdings Inc., and Tecnocap SpA
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.

Request PDF sample

What are the Key Data Covered in this Pharmaceutical Caps And Closures Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive pharmaceutical caps and closures market growth during the next five years
• Precise estimation of the pharmaceutical caps and closures market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the pharmaceutical caps and closures industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of pharmaceutical caps and closures of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch