Caps and Closures Market (By Product Type: Easy open Can Ends, Metal Lug Closures, Peel off Foils, Metal Crowns, Metal Screw Closures, Corks, Plastic Screw Closures, Others; and By Application: Food & Beverage, Healthcare, Cosmetics & Toiletries, Automotive, Pharmaceuticals, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 - 2030

The global Caps and Closures market gathered revenue around USD 65.41 billion in 2021 and market is set to grow USD 92.5 billion by the end of 2030 and is estimated to expand at a modest CAGR of 4.4% during the prediction period 2022 to 2030.

Growth Factors:

The caps and closures serve the primary purpose of keeping the container closed and the contents contained for the designated shelf life. It also acts as a barrier against dirt, oxygen, moisture, as well as preventing the goods from being opened prematurely. In the packaging industry, the caps and closures are primarily used to protect items and extend their shelf life. The rubber, plastic, and metal are used in the caps and closures market to provide appropriate product packaging.

The caps and closures are in high demand due to the rise in demand for easy to open and sustainable packs, rapid urbanization, and demographic trends. These are commonly used in the food and beverage industry for alcoholic and non-alcoholic drinks. The caps and closures help to extend the shelf life of products, protect them from dirt and moisture, and keep the oxygen content of the packed product balanced. With the increasing demand for caps and closures, import and export have become more important.

The caps and closures market is primarily driven by the packaging industry. The major purpose of packaging is to give food and beverages a longer shelf life, as well as products that keep their texture, flavor, and test for a long period. The caps and closures aid in the process of extending product shelf life and brand promotion. Furthermore, the growing demand for packaging propels the global caps and closures market growth. The fast-moving consumer goods, cosmetics, toiletries, and pharmaceuticals contribute towards the growth of the caps and closures market. However, the price volatility of raw materials such as high-density polyethylene and polypropylene is a major constraint to the caps and closures market’s expansion.

The caps and closures are popular because of their user-friendly design, great degree of customization, and durability. The caps and closures are expected to see a significant increase in demand throughout the projection period due to their accurate closing, binding properties, and widespread popularity among consumers.

The key market players are emphasizing circular packaging with the inclusion of post-consumer resin and other recyclable materials in caps and closures. The manufacturers of caps and closures are updating their recycling initiatives as a result of this, reaching sustainability goals and attracting environmental conscious customers to the caps and closures market.

Scope of the Caps and Closures Market

Region Insights

Based on the region, the Asia-Pacific segment accounted 40% revenue share in 2020. The Asia-Pacific caps and closures market is likely to be driven by the presence of highly populous nations like India and China, as well as the rising food and beverage industry. Moreover, the surge in demand for cosmetics and toiletries is likely to drive up use of caps and closures.

On the other hand, due to rising consumption of alcoholic and non-alcoholic beverages in nations such as the U.S. and Canada, the North America represented a major revenue share in 2020. The introduction of new types of beverages in the region is likely to boost the demand for the region’s packaging products even further.

Some of the prominent players in the Caps and Closures Market include:

• Berry Plastics Corporation
• Silgan Holdings Inc.
• Amcor Limited
• Rexam PLC
• RPC Group PLC
• Crown Holdings Inc.
• BERICAP GmbH Co. & KG
• Guala Closures Group
• Reynolds Group Holdings Limited
• Aptar Group Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Product Type

• Easy open Can Ends
• Metal Lug Closures
• Peel off Foils
• Metal Crowns
• Metal Screw Closures
• Corks
• Plastic Screw Closures
• Others

By Application

• Food & Beverage
• Healthcare
• Cosmetics & Toiletries
• Automotive
• Pharmaceutical
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Caps and Closures Market Study:

• Growth of Caps and Closures in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Caps and Closures and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Caps and Closures Consumption Analysis
•  Caps and Closures Production Analysis
•  Caps and Closures and Management