USD 65 billion
Plastic Caps And Closures Market Size, Share, Growth Analysis, By Type(Polyethylene Terephthalate (PET), Polypropylene (PP)), By Application(Food & Beverages, Pharmaceuticals) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2406 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
66 |
Figures:
75
Plastic Caps And Closures Market Insights
Plastic Caps And Closures Market size was valued at USD 65 billion in 2019 and is poised to grow from USD 68.58 billion in 2023 to USD 111.03 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
Increased demand for bottled water, the urge for convenience, concerns about product safety and security, product differentiation and branding, and shrinking package sizes are driving the plastic caps and closures market.
Some of the potential advantages of plastic caps and closures over other materials include cost-effectiveness, lower weight impact, and compatibility with a variety of materials, making them suitable for a wide range of end-user industries including food, beverage, healthcare, personal care, industrial, and home care. Plastic caps and closures are effective at retaining the flavour and texture of these beverages, which is a major driver of the plastic caps and closures market growth.
The growing demand for cosmetics and makeup in the developed countries, which uses pump closures and dispensing closures, is one of the primary market drivers for the plastic caps and closures industry. The demand for cosmetics, skincare, beverages, and healthcare are among those that are rapidly increasing as a result of the end-favorable consumer's economic situation. These factors contribute to the overall growth of the plastic caps and closures industry.
US Plastic Caps And Closures Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Polyethylene Terephthalate (PET)
Fastest Growth
Polypropylene (PP)
Growth Rate
5.5% CAGR
Global Plastic Caps and Closures Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
Global Plastic Caps and Closures Market Size By Type , 2021-2028 ($ Bn)
Global Plastic Caps and Closures Market Size By Type, 2021-2028 (%)
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Plastic Caps And Closures Market Segmental Analysis
The global plastic caps and closures market is segmented based on the type, application, and region. Based on the type, it is segmented into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others. Based on application, it is segmented into food & beverages, pharmaceuticals, cosmetics & household, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Plastic Caps And Closures Market Analysis by Type
The global plastic caps and closures market is segmented based on type into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), others. Among these segments, Polyethylene Terephthalate (PET) segment dominants the market and continue during the forecast period. PET is approved as safe for contact with foods and beverages by the FDA and health-safety agencies throughout the world. The safety of PET for food, beverage, pharmaceutical and medical applications has been repeatedly demonstrated through extensive studies, regulatory approvals, testing, and its widespread acceptance for more than 30 years. PET does not contain bisphenol-A (BPA) or phthalates (plasticizers). The majority of soft drinks are packaged in bottles composed of polyethylene terephthalate (PET), which is good at retaining CO2. PET has also found applications in markets such as fruit juice packaging and sports drinks, as well as in bottles for cooking and salad oils and sauces. The proliferation of e-commerce sites has resulted in a significant increase in online shopping and is anticipated to boost market growth in the future.
Global Plastic Caps and Closures Market By Type, 2021(%), 2023 (%)
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Plastic Caps And Closures Market Regional Insights
The global plastic caps and closures market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 35% in 2021. Plastic caps and closures market growth is being aided by rising population, industrialization, and urbanisation. The rise of China as a global manufacturing hub has increased demand for plastic caps and closures. The region's production of these products is boosted by low labour costs and easy access to raw materials. During the forecast period, countries such as Indonesia, Malaysia, and Singapore will present lucrative opportunities for the growth of the plastic caps and closures market. Furthermore, the region's leading manufacturing facilities, including China, which is the major manufacturing hub and supplies major parts of the world, have been propelling the plastic caps and closures market growth in recent years. Similarly, due to the economic situation and the preference for packaged food and beverages, North America and other parts of the United States are forecasting healthy growth in the plastic caps and closures industry.
Global Plastic Caps and Closures Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Plastic Caps And Closures Market Dynamics
Plastic Caps And Closures Market Driver
Concerns about product safety and security, as well as a desire for convenience
- Plastic caps and closures are driven by factors such as the desire for convenience and improved operability. A plastic cap is essential for protecting the product from dust and other microbes. Plastic caps and closures are less expensive than metal caps and closures. Consumers are looking for user-friendly, easy-to-open, and convenient-to-use closures.
- The growing popularity of dispensing closures and pump closures in a variety of product categories such as body care, skincare, beverages, and liquid food products is expected to drive global growth in the plastic caps and closures market. The health and wellness trend are shifting toward preventive healthcare, which is driving demand for FMCG products that promote healthier lifestyles. Plastic caps and closures that prevent contamination, tampering, and counterfeiting are becoming increasingly important in assuring customers of the safety and authenticity of the products they purchase.
Plastic Caps And Closures Market Restraint
Substitute Product Development
- The use of packages without closures, such as pouches and blister packs, is threatening the growth of the plastic caps and closures market. These types of packaging provide numerous advantages to the packager, including lower material costs when compared to traditional rigid packaging methods and concerns about sustainability. To provide convenience to consumers, many FMCG companies use the pouch packaging format as a packaging innovation tool. Several new easy-open and easy-reclose options are being added to the vast array of design options available in all end-use segments. Metal and cork caps and closures, for example, limit the growth of the plastic caps and closures market.
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Plastic Caps And Closures Market Competitive Landscape
The Plastic Caps and Closures market is highly competitive and consists of several major vendors. In terms of market share, none of the major vendors currently dominate the market. These top vendors are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.
Plastic Caps And Closures Market Top Company Profiles
- Berry Global, Inc.
- AptarGroup, Inc.
- Silgan Holdings Inc.
- Crown Holding
- Amcor plc
- RPC Group plc
- Bericap Holding GmbH
- Closure Systems International, Inc.
- Guala Closures Group
- O.Berk Company, LLC
- United Caps Luxembourg S.A.
- Caps & Closures Pty Ltd.
- Plastic Closures Limited
- Comar, LLC
- Georg MENSHEN GmbH & Co. KG
- Mocap LLC
- Pano Cap (Canada) Ltd.
- Technocap LLC
- ALPLA Werke Alwin Lehner GmbH & Co. KG
- The Cary Company
Plastic Caps And Closures Market Recent Developments
- In September 2021, Gateway Plastics was acquired by Silgan Plastics, a leading provider of sustainable rigid packaging solutions. Gateway Plastics manufactures dispensing closures and offers food and beverage companies integrated dispensing packaging solutions. Silgan Plastics will benefit from the acquisition by broadening its product offerings in dispensing and specialty closures.
- In June 2021, Mala Verschluss-Systeme GmbH was acquired by BERICAP, a leading manufacturer of plastic closures. Mala is an aluminum closure manufacturer. With the acquisition of Mala, BERICAP will expand its product portfolio to include aluminum closures and develop innovative closure technologies that combine plastic and aluminum.
Plastic Caps And Closures Key Market Trends
- The food industry is a significant contributor to the market for caps and closures. Consumers are becoming more health-conscious, and the demand for healthy beverages is increasing. Rising personal incomes have made bottled water a more accessible convenience for individuals, which is a driving factor in the growth of the caps and closures market.
- This trend is being fueled further by the growing millennial workforce. The millennial population has been found to work flexible hours, which increases demand for on-the-go foods and is expected to drive the market for caps and closures.
Plastic Caps And Closures Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global plastic caps and closures market analysis, Manufacturers will continue to look for packaging that adds value to their products. As a result, plastic caps and closures have shifted toward more expensive, functional closures, such as child-resistant, tamper-evident, and dispensing types. Simpler commodity closures, on the other hand, have maintained a dominant market position in higher-volume beverage applications such as bottled water and CSDs. Based on Type, Polyethylene Terephthalate (PET) segment dominates the market and will continue to do so throughout the forecast period. Among these regions, the Asia-Pacific region is expected to have the largest share (more than 35% in 2021).
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 65 billion |
| Market size value in 2031 | USD 111.03 billion |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Plastic Caps And Closures Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Plastic Caps And Closures Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Plastic Caps And Closures Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Plastic Caps And Closures Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Plastic Caps And Closures Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Plastic Caps And Closures Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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