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Caps & Closures Market to Surpass USD 110.71 Billion by 2031 Driven by Rising Demand for Convenience and Sustainable Packaging Solutions


Increased demand for convenience packaging solutions and environmental practices are expected to have a significant impact on the global caps & closures market over the coming years. The market is expected to reach a valuation of USD 110.71 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% throughout the forecast period from 2024 to 2031 (as per the SNS Insider report).

Market Scope

More than just lids, caps & closures are essential for safeguarding product quality and extending shelf life across industries. In beverages, they’re crucial. These barriers against air, moisture, and contamination ensure freshness, taste, and texture. The growing use of shelf-life enhancing cartons and pouches further strengthens the caps & closures market within beverages. Major players like PepsiCo and Coca-Cola fuel demand for diverse closures. The pandemic, despite impacting alcoholic beverages due to bar closures, presented an opportunity. The rise in at-home beer consumption, driven by convenience, highlighted the adaptability of caps & closures. The National Beer Wholesalers Association reported a jump in can usage (60% in 2019 to 67% in 2020), boosting demand for metal can closures. By ensuring quality and adapting to trends, caps & closures are a key driver for continued growth in beverage packaging.

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Key Players:

– Crown Holding Inc

– Amcor Plc

– Nippon Closures Co Ltd

– Weener Plastics

– Secure Industries Private Limited

– UNITED CAPS

– Guala Closures S.p.A

– Aptar Group

– Berry Global Inc

– Samhwa Crown & Closure

Market Analysis

Sustainability is becoming a goldmine for the caps & closures market. Manufacturers are increasingly turning to recycled materials like PCR aluminum, steel, and plastic, creating eco-friendly options. Technological advancements are another engine driving market growth. Investment in R&D fuels innovation, leading to caps that enhance safety, shelf life, reusability, and aesthetics – all factors that resonate with consumers.

The Asia-Pacific region stands out as a flourishing market. Its booming food & beverage industry, high demand for caps and closures, and rising popularity of packaged drinking water all contribute to its growth. Additionally, the burgeoning e-commerce sector creates a new layer of demand for caps and closures used in product packaging and delivery.

Segment Analysis

Segmenting the caps & closures market reveals a clear dominance of plastic.  At 56% of the market share, plastic reigns supreme due to its affordability, resistance to chemical reactions, and ability to be formed into various designs.  Product types encompass roll-on balls, plastic caps, general closures, and a range of other cap options, catering to a wide variety of applications.  In terms of end use, the beverage segment is the king of the hill, holding over 27% of the market share in 2023. This is fueled by the ever-growing popularity of non-alcoholic beverages.  The rise of functional drinks like energy boosters, probiotics, and fruit-infused beverages, all of which utilize glass & plastic bottle packaging, further strengthens the beverage segment’s leadership position.

By Raw Material

– Plastic

– Metal

– Others

By Product type

– Roll-On Balls

– Plastic Caps

– Closures

– Other Caps

By End Use

– Food

– Pharmaceutical

– Cosmetics

– Beverage

– Automotive

– Packaged Water Bottle

– Others

Impact of the Russia-Ukraine War

The ongoing conflict between Russia and Ukraine casts a dark cloud over the caps & closures market. The supply chain for crucial raw materials is in disarray. Oil & gas derivatives, essential for plastic production, and aluminum, a cornerstone of metal closures, are experiencing significant disruptions.  This, compounded by the war-induced inflation in transportation costs, creates a ripple effect negatively impacting the market.  Manufacturers are struggling to secure these vital materials, potentially leading to production slowdowns or price hikes for consumers. The full extent of the war’s impact remains to be seen, but it presents a significant challenge for the caps & closures industry.

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Impact of the Global Recession

Economic recessions can lead to a decline in consumer spending, impacting the caps and closures market. Consumers tend to prioritize essential goods during such periods, leading to a potential decrease in demand from the food & beverage industry, which in turn affects the caps and closures market. Additionally, recessions can lead to delays in research and development activities, hindering the introduction of innovative products and slowing down overall market growth.

Key Regional Developments

In 2023, Asia Pacific accounted for the largest revenue share of more than 45%. The presence of highly populated countries like China and India, coupled with their growing food & beverage industries, is a significant driver for the caps & closures market in this region. Furthermore, rising demand for cosmetics and home care products in countries like Japan and South Korea is expected to propel caps and closures consumption.

In North America the high consumption of alcoholic and non-alcoholic beverages in the U.S. and Canada fuels demand for caps and closures in the beverage industry. The introduction of new beverage types further accelerates demand for innovative packaging solutions. For instance, the recent collaboration between Starbucks and PepsiCo to launch a new energy drink called Baya highlights this trend. The positive outlook for the North American beverage industry is anticipated to stimulate market growth in the region.

Key Takeaways for Caps & Closures Market Study

– The rising demand for convenience and sustainable packaging solutions is creating a robust growth environment for the caps & closures market.

– Technological advancements are leading to innovative caps and closures that enhance product safety, shelf life, and reusability, attracting consumer interest.

– The Asia-Pacific region is expected to witness the fastest growth due to its burgeoning food & beverage industry, increasing packaged water consumption, and thriving e-commerce sector.

Recent Developments

– In October 2023, Berry Global introduced a lightweight tube closure solution made from virgin and recycled plastics, including post-consumer recycled content. This solution caters to the growing demand for sustainable packaging options.

– In July 2022, Guala Closures, a leading producer of closures for various beverages and bottles, acquired Labrenta. This acquisition strengthens Guala Closures’ position in the luxury packaging segment.

Caps & Closures Market

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Table of Contents

1 Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2 Research Methodology

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4 Impact Analysis

4.1 Impact of Ongoing Recession

4.2 Impact of Covid-19

5 Value Chain Analysis

6 Porter’s 5 forces model

7 PEST Analysis

8 Caps & Closure Market Segmentation, By Raw Material

8.1 Plastic

8.2 Metal

8.3 Others

9 Caps & Closure Market Segmentation, By Product Type

9.1 Roll-On Balls

9.2 Plastic Caps

9.3 Closures

9.4 Other Caps

10 Caps & Closure Market Segmentation, By End Use

10.1 Food

10.2 Pharmaceutical

10.3 Cosmetics

10.4 Beverage

10.5 Automotive

10.6 Packaged Water Bottle

10.7 Others

11 Regional Analysis

12 Company Profile

13 Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

14 USE Cases and Best Practices

15 Conclusion

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