Caps and Closures Market Research Report—Global Forecast till 2030

Caps and Closures Market Research Report: Information by Material Type (Plastic, Metal and others), By Type (Plastic caps and closures , Roll-on balls , Other caps and Closures), By End-Use Industry (Food, Beverage, Packaged water bottles,Pharmaceutical, Cosmetics, Automotive and Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2030

ID: MRFR/PNT/0757-CR | September 2021 | Region: Global | 187 Pages         

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Caps and Closures Market

The global caps & closures market size is anticipated to register a 4.7% CAGR between 2022 and 2030 and reach an approximate value of USD 91,718.9 million in 2030.

Segmentation
By Material Type Plastic Metal others
By Type Plastic caps closures Roll-on balls Other caps Closures
By End-Use Industry Food Beverage Packaged water bottles Pharmaceutical Cosmetics Automotive Others
Key Players
Companies Profiled   Crown Holdings   Amcor plc; Closure Systems International   Ball Corp   Silgan Holding    Inc.; Berry Global    Inc.; AptarGroup    Inc.; BERICAP; Nippon Closures Co. Ltd.; Sonoco Products Company
Drivers
Market Driving Forces   Rising demand for bottled water Rising concerns toward product quality and safety
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Caps and Closures Market Scenario


Caps and Closures refer to the dispensing and sealing component of packaging. The caps and closures ensure inflow and outflow of product to/from the packaging product.


Caps & closures play an important role in packaging, and they include containers such as caps, cans, and others. It helps in the process to extend the shelflife of the products and provides a barrier to dirt, moisture, and oxygen. Rising demand for bottled water and smaller packaging sizes from the end-user industries such as food, beverage, and healthcare, and rising concerns toward product quality and safety are factors improving caps and closures market growth. The increasing use of packaging is driving the growth of the caps and closures market.The Magnum Optimum 1208 Hopper from the expert in returnable and recyclable plastic packaging expands Schoeller Allibert's selection of sturdy, foldable large containers by including a specialized cap and closures distributor with a 1200mm x 800mm footprint. It swiftly and uniformly distributes parts through a base aperture while allowing flow control. The hopper can be folded or unfolded by one person in five seconds, and anti-slip plugs make handling it safer and simpler. A label holder, short or long side walls, a dust cover, and various base footprints are the possibilities for the fully customizable product. According to the business, the hopper base saves packing waste and does not require cardboard frames, liners, or a separate pallet base.


This reflects the significance of plastic containers in numerous markets and the growing prevalence of plastic closures on other container types. The outlook for plastic closures will be constrained by the alreadyhigh penetration of plastic containers in most markets and a lack of new large volume applications.


Despite ongoing losses due to inroads by plastic closures and the resurgence of aluminum cans in the beer market, units will increase modestly based on greater use of roll-on closures with wine and opportunities for screw and lug closures with ready to drink beverages such as iced tea and coffee, which are frequently packaged in glass.


The global caps and closures market size is anticipated to register a 4.7% CAGR between 2022 and 2030 and reach an approximate value of USD 91,718.9 million in 2030.


Caps and closures have several applications in the food & beverages industry, mainly due to their ease of application, transportation, and reduced costs, as well as the ability to preserve flavor, nutrition, and texture in the long run. Caps and closures help in extending the shelf-life of products along with strengthening brand identity.


The rise in demand for packaged foods & beverages, especially liquid & semi-liquid foods and drinks, is considered one of the major factors inducing the demand for caps and closures. There is an increased demand, which has been met by ensuring increased production of processed and packaged food and beverages across the globe. In Europe, the turnover of the food & beverage industry has gone up along with the emergence of new companies within the processed food and beverages market segment.


Technological advancements in packaging solutions play a vital role in driving the demand for caps and closures. Advanced technology has allowed companies to incorporate innovation in products instead of sticking to traditional ones. Due to this, several companies are investing in research & development and are coming up with technically advanced products with properties such as better sealing capabilities, extended shelf life, leakage proof, and reusability. Such properties effectively uphold the quality and consistency of food items while extending their shelf life without using additional preservatives.


The caps and closures market has become more technology-driven and pulls higher levels of R&D investment. Such investments lead to technology developments, which lead to value addition and the manufacture of premium products at lower costs. This helps them improve their competitive front and creates opportunities for plastic closure manufacturers through an organized infrastructure. Thus, the rapid innovation in packaging solutions is expected to drive the growth of the global caps and closures market during the forecast period.


Developing countries such as India, Brazil, and Indonesia have witnessed changing dynamics for packaged and processed food and beverage demand. The consumption patterns have changed in many years due to positive economic indicators such as the rising per capita disposable income, changing customer preferences, growing working women population, and the increasing number of retail outlets. This is expected to stagger the growth of the packaging industry, including caps and closures used extensively in food and beverage packaging. These countries are adapting smart packaging technologies, which present another opportunity for packaging companies to diversify and enhance their product offerings. A new suite of solutions can help brand owners as they seek to enhance shelf appeal and allow direct consumer interfacing via smartphones and designs that prolong shelf life through the use of temperature monitoring, insulated shipping, and other freshness indicators.


The raw material cost depends on the terms and duration with the resin manufacturers, which typically varies over one year to a couple of years. The availability of raw materials depends on the global and local demand & supply force and government regulations. The price of resin is subject to fluctuations due to external market conditions such as demand-supply forces, import-export scenario, and policies, and regulations. These factors would ultimately affect the raw material cost, which is the cost involved with resins. Also, due to this fluctuation, the financial performance of the company can adversely be affected.


Key industry participants in the capsand closuresindustry include Crown; Amcor plc; Closure Systems International; Ball Corp.; Silgan Holding, Inc.; Berry Global, Inc.; AptarGroup, Inc.; BERICAP; Nippon Closures Co. Ltd.; Sonoco Products Company


The global market for the caps and closures market has been segmented based on type, material type, end-use industry, and region. Based on type, the global caps and closures market is segmented into plastic caps & closures, roll-on balls, and others. Plastic caps and closures have gained popularity for the packaging of bottled water, carbonated soft beverages, and non-carbonated soda drinks.


Based on material type, the global caps and closures market is segmented into plastic, metal, and others. An increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are driving the caps and closures market for plastic. Plastic containers are economical and lightweight. Metal closures offer a reliable barrier from external elements, keeping drinks fresh and providing the convenience of an easily recloseable package. Also, brand owners prefer metal closures because they want to offer the package a traditional look and feel that it is known and trusted.


Based on end use industry, the global caps and closures market is segmented into food, beverages, packaged water bottles, pharmaceutical, cosmetics, automotive, and others.The beverages segment is further segmented into alcoholic beverages and non-alcoholic beverages. The rise in demand for fresh and quality packaged food, consumer convenience, and manufacturers’ concern for a longer shelf life of the food products drive the caps and closures market. Many companies offer a wide selection of caps and closures, which is suitable for packaging a variety of food products. With an increase in the consumption of food, there has been an increase in the consumption of caps and closures.For a long time, the beverages industry has been the major contributor to the rising demand for caps and closures. But in recent times, this has been closely competed by other industries such as healthcare. The rising popularity of dispensing closures and pump closures in various product groups such as beverages is likely to spur the growth of the caps and closures market.A novel closure for perishable beverages like milk and juice is the outcome of a collaboration between United Caps and Mimica. United Caps, a maker of caps and closures with headquarters in Luxembourg, has announced the creation of a novel closure due to a unique collaboration with the UK-based label innovator Mimica. The idea for the Mimica Touchcap originated from a design initiative led by Mimica's creator Solveiga Paktait, who sought to include individuals with visual impairments in expiration dates. Paktait also drew a connection between food waste and expiration dates. Up to 10% of the world's greenhouse gas emissions are attributable to food waste, primarily in developed nations' homes.


Market Segmentation


The global caps and closures market is expected to witness high growth during the forecast period owing to the growing packaging industry across the globe. The Demand for caps and closures market is expected to be driven by the continued construction of smart cities across geographies and other mega-construction projects, particularly in developing economies.


Based on region, the caps and closures market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. China is expected to be one of the largest caps and closures market, owing to the change in its economic structure from production-based to consumption-based, and factors such as rise in disposable income and high consumption of processed and packaged food and beverage items. The increasing export from these countries is leading to the growth of the caps and closures market. The region offers a flourishing market for such technologically advanced packaging solutions. The FDI in retail has further widened the scope of packaging and lures foreign players to enter the caps and closure market with new solutions; the increasing demand backs this for packaged food and beverages in China and India due to increasing disposable income.Europe has always played a key role in the innovation and development of personal care, hygiene, and beauty products and packaging. Increased demand for consumer-friendly products that are lightweight and easily transportable, growing focus on sustainability, the increased need for extended shelf life, and rising hygiene standards are the major drivers of the caps & closures market.The Pop & Click cylindrical bottles feature eye-catching, distinctively designed child-resistant (CR) closures. Recently, a circular polypropylene (PP) cap with small, petal-like "fingers" around the edge was introduced. The cap is opened by applying finger pressure to the mounded center. Without the pressure, the miniature fingers clasp a narrow lip sculpted around the bottle's rim. This movement lifts and unlocks the fingers, allowing the closure to be removed. It works because of a cleverly integrated closure and bottle finish design. One-handed opening is at the heart of universal design, but the Pop & Click takes it further with the single-digit operation.


Key Players


Key industry participants in the caps and closures industry include Crown Holdings; Closure Systems International; Ball Corp.; Silgan Holding, Inc.; Berry Global, Inc.; AptarGroup, Inc.; BERICAP; Nippon Closures Co. Ltd.; Amcor plc, Sonoco Products Company


Intended Audience



  • Government and Research Organization

  • Consulting Companies in the caps and closures market

  • Raw Material Suppliers

  • Research Consultants

  • Investors and Shareholders


Regional Overview


Guala Closures, a major global manufacturer of caps and closures for bottles of liquor, wine, beer, and oil, said that it had signed a deal to buy Labrenta, which it claims will increase its presence in the luxury market. Formerly traded on the Italian stock exchange, Luxembourg-based Specialty Packaging Solutions Investments, a single investor, owns Guala Closures. The corporation claims to offer its products in more than 100 countries and has 30 factories across five continents. The buyout of Vicenza-based Labrenta, a manufacturer of high-end custom closures for spirits, wine, beer, oil, and vinegar, strengthens Guala Closures' goal of dominating the luxury market.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2027: USD 91,718.9 Million
  • 2030 : Significant value
  •   CAGR   4.7% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Material , Type , End-User
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Rexam PLC (U.K), Berry Plastics Corporation (U.S.), AptarGroup Inc. (U.S.), RPC Group Plc. (U.K.), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Reynolds Group Holdings Limited (New Zealand), and Silgan Holdings Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & KG (Germany).
      Key Market Opportunities   The increasing demand for packaged food and beverage products
      Key Market Drivers

  • Rising demand for bottled water
  • Rising concerns toward product quality and safety


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    Frequently Asked Questions (FAQ) :

    The global caps and closures market is expected to reach USD 91,718.9 million by 2030.

    Global caps and closures market is expected to exhibit a strong 5.6% CAGR over the forecast period from 2022 to 2030.

    The increasing demand for packaged food and beverage products is likely to be a key driver for the caps and closures market.

    Asia Pacific dominates the global caps and closures market.

    Leading players in the global caps and closures market include Rexam plc, Amcor Ltd., and Berry Plastics Corporation, among others.