Caps and Closures Market - Forecast(2024 - 2030)

Report Code: CMR 1312 Report Format: PDF + Excel

Caps and Closures Market Overview

Caps and Closures Market size is forecast to reach US$85.3 billion by 2027, after growing at a CAGR of 5.3% during 2022-2027. Caps and closures are plastic packaging on top of bottles, jars, tubes, cans, and so on. Caps and closures are of different types such as screw top, corks, metal crowns, Snap-On, friction fit, tamper-evident, and dispersing. Caps and closures find a broad range of applications in numerous industries such as beverages, cosmetics, and pharmaceuticals. The increasing bottled water and the packaging from the pharmaceutical industry are mainly driving the market growth during the forecast period. The material used to manufacture caps and closures must possess an excellent balance of stiffness and toughness along with good chemical resistance. Factors such as stringent regulations in the caps and closures industry with regards to the use of plastic caps and closures as well as growing demand for the substitute packaging options, such as blister packaging options are factors that are expected to affect the growth of the global caps and closures market. The widely used material for manufacturing caps and closures are polyethylene terephthalate (PET), polypropylene (PP), High-Density Polyethylene (HDPE), and others. The growing consumers’ demand for convenience products is one of the major factors driving the market growth during the forecast period.

Covid-19 Impact

 The outburst of the covid-19 has specified several extraordinary challenges to all manufacturers and production companies. The caps and closures industries also confronted a lot of difficulties in assembling plastic and receiving the workforce as the whole world was under quarantine. The gathering of the raw material and the delivery of the end product all was at stake during the lockdown. However, after a while, the market was back to normal when certain rules were changed. With the change where everyone around the world has to turned into extra aware of environmental safety. As the lifestyles have transformed people are choosing to be healthier and more sustainable after the pandemic.

Report Coverage

The report “Caps and Closures Market– Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Caps and Closures Industry.

By Material Type: Plastic (Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-density polyethylene (LDPE), and Others), Metal (Steel, Aluminum, and Others), and Others

By Product Type: Easy-open Can Ends, Metal Lug Closures, Peel-off Foils, Plastic Screw Closures, Metal Crowns, Metal Screw Closures, Corks, Plastic Screw Closures, and Others

By Type: Continuous Thread Closures, Dispensing Closures, Tamper-Evident Closures, Bar-Top Closures, Child-Resistant Closures, and Snap-On Closures

By Application: Beer, Wine, Bottled Water, Carbonated Soft Drinks, and Others

By End-use Industry: Packaging, Food Packaging, Beverages Packaging, Personal care, and Cosmetics Packaging, Pharmaceutical packaging, Toiletries Packaging, and Others

By Geography: North America (USA, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and Rest of the world (Middle East and Africa)

Key Takeaways

  • Asia Pacific dominates the caps and closures market owing to a rapid increase in the packaging sector.
  • Rising demand for bottled water is expected to drive the demand for caps and closures over the forecast period.
  • The growing demand for pharmaceutical packaging is driving the market for caps and closures during the forecast period.
  • Stringent government regulation on banning polymer products is hampering the market growth.

Figure: Asia Pacific Caps and Closures Market Revenue, 2021-2027 (US$ Billion)

For More Details on This Report - Request for Sample

Caps and Closures Market Segment Analysis - By Material Type

The plastic segment holds the largest share in the caps and closures market in 2021 and is forecast to grow at 5.6% CAGR during 2022-2027. Caps and closures are made using several types of rugged polymers, including polyethylene terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-density polyethylene (LDPE), and others. Caps and closures provide a safe, secure way to ship medicines and small consumer items, offering additional protection when goods are transported inside custom cardboard boxes. Owing to its advantages like cost-effectiveness, Food and Drug Administration (FDA) approved the plastics make it the most preferable material in the caps and closures manufacturing and certainly escalate the growth of the market.

Caps and Closures Market Segment Analysis - By End-Use Industry

The food packaging segment holds the largest share in the caps and closures market in 2021 and is forecast to grow at 4.5% CAGR during 2022-2027. Owing to the rapid industrialization and urbanization, there is an unprecedented endorsement for packaged food across the world especially in developing countries such as India and China. The growing demand for bottled drinks is made mostly by PET, due to their versatility in shape and size. It is entirely recyclable and also the highest recycled plastic worldwide. It is recycled by carefully washing and re-melting it, or by chemically breaking it down to its component materials to make new PET polymer. For instance, the Canada PET recycling rate was 27.9% in 2019. The rising demand for polyethylene terephthalate in food and beverages packaging such as carbonated soft drinks packaging contributed to the growth of the caps and closures market. The growing significance of packaging in the food industry is eventually propelling the growth of the plastic caps and closure market since the caps and closure are prominent parts of the packaging and play vital role in preserving the quality of the food packed.

Caps and Closures Market Segment Analysis - By Geography

Asia Pacific held the largest share in the caps and closures market in 2021 and is forecast to grow at 6.2% CAGR during 2022-2027 followed by North America and Europe. APAC is estimated to lead the market and the factors attributed to the development of the market are rapid industrialization and the prominence of waste management in countries like China, Japan, and India. The consumption of plastics has also increased due to the escalating packaging industry. Asia Pacific region claims more than 50% plastic recycling rate, majority of it is carried out in the informal sector and focused on single-use plastic recycling. China has recycled 282 million tons of metal and plastic, according to China's Ministry of Commerce. Whereas in India PET plastic bottles have a 70% recycle rate. On the other hand, similarly, the increasing need for quality water and health-conscious drinking habits are expected to increase the consumption of bottled water, which directly influences the packaging industry in the region. For instance, according to DCC China, the consumption of bottled water reached 49 million metric tons, in 2020. The fast development in the sectors with increased the demand of caps and closures market in all the sector in the APAC region.

Caps and Closures Market Drivers

Increase demand for Bottled Water

A plastic screw cap is one of the plastic bottle caps. It needs to make the thread structure of the inner ring of the cap and tightly connect with the bottle thread. Benefit from the advantages of the thread structure, after the screw cap is tightened, through the interaction force between the threads. The demand for bottled water is increasing at a rapid speed. For instance, according to the US National Library of Medicine National Institutes of Health, bottled water consumption is increasing annually by 7% on average worldwide. Global consumption of bottled water was about 232 billion liters (61.4 billion gallons) in 2011 and is estimated to increase to 513 billion liters by 2025. North America has the highest rate of bottled water consumption about 30% followed by Europe with 29% and Asia with 27%, and 14% in other parts of the world. Thus, the growing demand for bottled water is driving the market for caps and closures during the forecast period.

The Demand from Pharmaceutical Packaging Sector is Driving the Market

Packaging of healthcare products reduces the possibility of product contamination and protects healthcare products from moisture, gas, light and temperature. This is driving the demand for caps and closures in the pharmaceutical end-use sector. After the pandemic, the demand for healthcare facilities, medicine related products are in high demand and eventually growing daily. For instance, in 2020 Mondi, UK based packaging company has recently developed packaging for QIAGEN's SARS-CoV-2 coronavirus test kit consisting of a polyester, aluminum, polyethylene packaging, and caps construction to provide the necessary protection from light and moisture so that the test kits are not compromised before they are used. The development in the healthcare sector is driving the caps and closures market rapidly for like, the French fund Lauxera Capital Partners, which was launched in 2020 in Paris and San Francisco, announced a US$121 million fund to support European healthcare startups. Whereas, in India, the government invested US$8.80 billion outlay for the healthcare sector over six years in the Union Budget 2021-22 to strengthen the existing National Health Mission by developing capacities of primary, secondary, and tertiary care, healthcare systems, and institutions for detection and cure of new & emerging diseases. With the rapid growth rate in the healthcare sector, the demand for caps and closures will parallelly increase and certainly have a positive impact on the caps and closures market.

Caps and Closures Market Challenges

Stringent Government Regulations and Banning of Polymer Products Impede Market Growth

The FDA has pressurized manufacturers to submit data regarding the long-term health impact of inorganic substances in Plastics particularly hormonal effects and contributors to anti-biotic resistant bacteria, to ascertain the safety of medical use Plastics products like gloves. The most common plastic in use to produce containers and caps and closures of packed drinking water is polyethylene terephthalate (PET), which takes 400 years to naturally decompose in nature. While these plastics are highly recyclable, less than half the bottles sold are collected for recycling and just 7% of them are being recycled. Due to its low cost, easy transportation, low weight, and high resistance as well as lack of taste and aesthetic problems, PET is widely used for packaging a wide variety of edible products including water. As plastic bottles are not readily biodegradable, the main challenge is their durability in the environment. The discarded PET bottles have a high potential to be an environmental catastrophe, especially in economically developing countries if not recycled sufficiently. Thus, hampering the market growth of caps and closures in the forecast period.

Caps and Closures Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the market. Caps and Closures top 10 companies include:

  • RPC Group Plc (UK)
  • Reynolds Group Holdings Limited (New Zealand)
  • Crown Holdings Inc. (U.S.)
  • Amcor Limited (Australia)
  • Rexam PLC (UK)
  • Berry Plastics Corporation (U.S.)
  • Silgan Holdings Inc. (U.S.)
  • AptarGroup Inc. (U.S.)
  • Guala Closures Group (Italy)
  • BERICAP GmbH Co. & KG (Germany).

Recent Developments

  • In 2020, Borealis and MENSHEN combined launched a technology that unites the Borealis recycling and compounding expertise with its own. These packaging solutions are predominantly made for use in laundry and home care and include also 2K closures.

Related Reports:

Cosmetic Packaging Market - Forecast(2022 - 2027)
Report Code: CPR 0108

Aerosol Caps Market - Forecast(2022 - 2027)
Report Code: CMR 55780

For more Chemicals and Materials Market reports, please click here

1. Caps and Closures Market- Market Overview
    1.1 Definitions and Scope 
2. Caps and Closures Market- Executive Summary
    2.1 Key Trends by Material Type
    2.2 Key Trends by Product Type
    2.3 Key Trends by Type
    2.4 Key Trends by Application
    2.5 Key Trends by End-Use Industry
    2.6 Key Trends by Geography
3. Caps and Closures Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Caps and Closures Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Caps and Closures Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Caps and Closures Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Caps and Closures Market– Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Caps and Closures Market– By Material Type (Market Size -US$ Million/Billion)
    8.1 Plastic
        8.1.1 Polyethylene Terephthalate (PET)
        8.1.2 Polypropylene (PP)
        8.1.3 High Density Polyethylene (HDPE)
        8.1.4 Low density polyethylene (LDPE)
        8.1.5 Others
    8.2 Metal
        8.2.1 Steel
        8.2.2 Aluminum
        8.2.3 Others
    8.3 Others
9. Caps and Closures Market– By Product Type (Market Size -US$ Million/Billion)
    9.1 Easy-open Can Ends
    9.2 Metal Lug Closures
    9.3 Peel-off Foils
    9.4 Plastic Screw Closures
    9.5 Metal Crowns
    9.6 Metal Screw Closures
    9.7 Corks
    9.8 Plastic Screw Closures
    9.9 Others
10. Caps and Closures Market– By Type (Market Size -US$ Million/Billion)
    10.1 Continuous Thread Closures
    10.2 Dispensing Closures
    10.3 Tamper-Evident Closures
    10.4 Bar-Top Closures
    10.5 Child-Resistant Closures
    10.6 Snap-On Closures
11. Caps and Closures Market– By Application (Market Size -US$ Million/Billion)
    11.1 Beer
    11.2 Wine
    11.3 Bottled Water
    11.4 Carbonated Soft Drinks
    11.5 Others
12. Caps and Closures Market- By End-Use Industry (Market Size-US$ Million/Billion)
    12.1 Packaging
    12.2 Food Packaging
    12.3 Beverages Packaging
    12.4 Personal care and Cosmetics Packaging
    12.5 Pharmaceutical packaging
    12.6 Toiletries Packaging
    12.7 Others
13. Caps and Closures Market- By Geography (Market Size-US$ Million/Billion)
    13.1 North America
        13.1.1 USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Netherlands
        13.2.6 Spain
        13.2.7 Russia
        13.2.8 Belgium
        13.2.9 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zealand
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 The Middle East
        13.5.2 Africa
14. Caps and Closures Market– Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. Caps and Closures Market– Industry/Segment Competition Landscape Premium
    15.1 Company Benchmarking Matrix – Major Companies
    15.2 Market Share by Key Region - Major companies
    15.3 Market Share by Key Country - Major companies
    15.4 Market Share by Key Application - Major companies
    15.5 Market Share by Key Product Type/Product category - Major companies
16. Caps and Closures Market– Key Company List by Country Premium Premium
17. Caps and Closures Market Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
"*Financials would be provided on a best-efforts basis for private companies"