Caps and Closures Market Size was valued at USD 64.39 billion in 2023. The Caps and Closures industry is projected to grow from USD 67.42 Billion in 2024 to USD 92.98 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.10% during the forecast period (2024 - 2032). Increased demand for bottled water and rising concerns toward product quality and safety are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Rising demand for caps and closures is closely linked with growing urbanization. Urban consumers are inclined more towards convenient and on-the-go packaging solutions for food or beverage products. Caps and closures are key in providing convenience, ensuring the products are easy to open and close, and can be consumed without spillage. Caps and closures offer an airtight seal, preventing the entry of bacteria and keeping the product fresh for a longer time. They address the growing concern about safety and hygiene associated with food & beverage products by preventing spoilage. Manufacturers also offer various customization alternatives more suitable for the product, which helps retain their customers, thus boosting their market globally. This factor drives the Market CAGR.
Additionally, lightweight caps and closures provide various advantages to consumers and manufacturers, resulting in a surge in demand and adoption within the market. These caps and closures consume fewer resources and generate less waste, making them more environmentally friendly than conventional options. This is especially significant for companies seeking to minimize their carbon footprint and lessen their environmental impact. In addition to the environmental benefits, lightweight caps and closures are more cost-effective than traditional alternatives. They require fewer materials, resulting in lower production and transportation costs for manufacturers. As a result, this is expected to drive the market in the coming years.
Moreover, the growing concerns surrounding environmental hazards have prompted a greater emphasis on sustainable and eco-friendly packaging solutions. For instance, biodegradable caps and closures are made from materials that naturally break down in the environment, such as plant-based plastics or biodegradable polymers. After use, these caps and closures can be composted or recycled, reducing their environmental impact. On the other hand, recyclable caps and closures are created using recyclable materials like aluminum or PET plastics. They can be recycled alongside other household or industrial waste. As sustainability continues to dominate the market, companies are investing in sustainable products and developing new solutions to meet the growing need for environmentally friendly packaging. Thus, driving the Caps and Closures market revenue.
October 2023, Berry Global Inc. introduced new lightweight tube closure solutions made from virgin plastics such as polyethylene (PE) and polypropylene (PP) and also from post-consumer recycled plastics (rPE and rPP) acquired by Berry Global Inc. through its closed-loop recycling facility.
Based on material type, the Caps and Closures market segmentation includes plastic, metal, and others. The plastic segment dominated the market; Manufacturers favor plastic due to its versatility and cost-effectiveness. It is a widely used material for producing diverse caps and closures, such as threaded caps, snap-on caps, and child-resistant caps.
Figure1: Caps and Closures Market, by Material Type, 2022&2032(USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on type, the Caps and Closures market segmentation includes plastic caps, closures, roll-on balls, and other caps and closures. The plastic caps segment dominated the market because they are the most widely used type of cap and closure. After all, they are versatile and cost-effective. They can be used for a wide variety of products, and they are relatively inexpensive to produce. Plastic caps are easy to customize, making them a popular choice for manufacturers of a wide range of products. This is because manufacturers can customize the shape, size, and color of plastic caps to match the specific needs of their products.
In September 2022, Silgan Holdings Inc., a leading provider of rigid packaging solutions by glass or plastics announced its partnership with Closure Systems International (CSS) which is engaged in production of plastic cap systems and capping machinery. It was made as a part of Silgan's strategy to gain more market share in caps and closures
Based on the end-use Industry, the Caps and Closures market segmentation includes food, beverage, packaged water bottles, pharmaceutical, cosmetics, automotive, and others. The food segment dominated the market because food products are some of the most widely consumed products in the world, and they require closures caps to protect them from contamination and spoilage. Food products are some of the most widely consumed products in the world. They require caps and closures to protect them from contamination and spoilage. This is a major driver of the demand for caps and closures in the food industry. Caps and closures in packaging provide both functional sealing and aesthetic branding, ensuring product freshness and consumer appeal
The study offers market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Caps and Closures market will dominate, owing to key manufacturers, processed food & healthcare sectors, and increasing innovations that will boost the market growth in this Region.
Additionally, the market report analyzes the key countries including the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
For instance, Starbucks Coffee Company teamed up with PepsiCo in February 2022 to launch the Baya energy drink.’ The flavors available for the drink are pineapple passionfruit, raspberry lime, and mango guava.
In 2022, as a part of its packaging revolution across the entire range, Coca-Cola Great Britain has been rolling out bottles with attached caps for 500ml plastic bottles in collaboration with Coca-Cola Europacific Partners (CCEP). According to the company, this will boost recycling rates and reduce litter. The new cap design allows the closure to remain connected to the bottle even after it is opened, making it easier to recycle the entire package and ensuring no cap is lost.
Figure2: GLOBAL CAPS AND CLOSURES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Caps and Closures market accounts for the second-largest market share due to the rapid shift in consumer lifestyles and rising disposable income that has increased demand for carbonated drinks, alcoholic beverages, and many others, fostering growth in the Region. Further, the German Caps and Closures market held the largest market share, and the U.K. Caps and Closures market was the fastest-growing market in the European Region.
The Asia-Pacific Caps and Closures Market are expected to grow at the largest CAGR from 2023 to 2032. This is because the increasing population and number of SMEs for customized packaging enhance the market growth. Moreover, China’s Caps and Closures market held the largest market share, and the Indian Caps and Closures market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Caps and Closures market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Closures & caps industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Caps and Closures industry to benefit clients and increase the market sector. The Caps and Closures industry has recently offered some of the most significant advantages. Major players in the Caps and Closures market, including Rexam PLC (U.K.), Berry Plastics Corporation (U.S.), AptarGroup Inc. (U.S.), and RPC Group Plc. (U.K.), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Reynolds Group Holdings Limited (New Zealand), Silgan Holdings Inc. (U.S.), Guala Closures Group (Italy), and BERICAP GmbH Co. & K.G. (Germany)., and others, are attempting to increase market demand by investing in research and development operations.
Silgan Holdings is an American manufacturing company based in Connecticut that specializes in producing packaging for consumer goods. The company was established in 1987 by Phil Silver and Greg Horrigan, both former executives at Continental Can. The company name, Silgan Holdings, is derived from their surnames. As part of its growth strategy, Silgan Holdings recently acquired the dispensing business of Albea, a packaging company based in France. Albea's dispensing business supplies pumps, sprayers, and foam dispensing solutions to leading companies in the personal care and beauty industries. With 10 manufacturing plants across North America, Europe, South America, and Asia, the business is well-positioned to serve its customers globally. This acquisition is expected to positively impact Silgan Holdings' earnings in 2020.
Berry Group, Inc. is a prominent manufacturer and promoter of plastic packaging items, recognized as a Fortune 500 company. To enhance its market presence, Berry Group successfully acquired RPC Group. This strategic move has propelled the company to become a dominant force as a leading provider of value-added protective solutions. Additionally, it has bolstered its position as one of the largest plastic packaging enterprises worldwide.
July 2020: Berry Group completed the acquisition of RPC Group, forming a prominent provider of value-added protective solutions and one of the largest plastic packaging enterprises globally. This transaction also facilitated the expansion of the company's presence globally, boasting a widespread network of more than 290 facilities in regions such as North and South America, Europe, Asia, Africa, and Australia.
July 2020: Silgan Closures has launched the new 55mm KS2 plastic bottle cap for water bottles with 5 and 3 gallon HOD (Home and Office). The hat includes several new features that set it apart from similar water hats. Molded from a proprietary, shatter-resistant compound, the lid features a shell design that virtually eliminates spills. To ensure product safety, the cap also features a flow cap liner for best bottle quality and tamper protection.
October 2023: Berry Global launches a new range of caps and closures made from plant-based materials. These closures are a more sustainable alternative to traditional closures made from fossil fuels.
September 2023: Amcor partners with a recycling company to develop a closed-loop recycling system for caps and closures. This system will help to increase the recycling rate for caps and closures.
February 2024: The rise of e-commerce puts pressure on the caps and closures industry to develop solutions for secure and efficient product delivery. Child-resistant and tamper-evident closures gain traction for online retail applications.
In July 2022, Crown Holdings introduced its new premium closure line for the spirits category. Such covers are expected to be used both in bottles made from aluminum as well as glass materials. Their raison d'être is to make peculiarly functioning caps catering to the increased need for innovative packs amongst alcoholic drink manufacturers.
In April 2023, AptarGroup acquired Closer Packaging Solutions, a manufacturer of closures and dispensing solutions for the beauty, personal care, and home care markets.
Rieke, in 2022, developed a two-piece child-resistant cap that addresses the concerns that come with aging people having trouble opening packages containing medicinal or dietary supplements, either because these consumers still have young children at home or they just want their own parents not getting into such dangerous products in future while also maintaining sustainable business practices with Child Resistant Caps being their most recent addition.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 64.39 billion |
| Market Size 2024 | USD 67.42 billion |
| Market Size 2032 | USD 92.98 billion |
| Compound Annual Growth Rate (CAGR) | 4.10% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Type, Type, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | USA, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea and Brazil. |
| Key Companies Profiled | 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). |
| Key Market Opportunities | Increasing demand for food and beverage packaging |
| Key Market Dynamics | Rising demand for bottled water |
Caps Closures Market Highlights:
Frequently Asked Questions (FAQ) :
The cap and lock industry will be worth $64.39 billion in 2023.
The Caps and Closures Market is growing at a CAGR of 4.10% during the forecast period, 2024-2032.
North America witnessed the largest share of the Caps and Closures Market.
The key players in the Caps and Closures Market are Rexam PLC (U.K.), Berry Plastics Corporation (U.S.), AptarGroup Inc. (U.S.), and RPC Group Plc. (U.K.), Crown Holdings Inc. (U.S.), Amcor Limited (Australia), Reynolds Group Holdings Limited (New Zealand).
The Plastic caps category dominated the Caps and Closures Market in 2023.
Food witnessed the largest share of the Caps and Closures Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
