The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

 

Market Overview

The caps and closures market has witnessed robust growth in recent years, with a notable surge from $73.17 billion in 2023 to $77.46 billion in 2024, showcasing a compelling Compound Annual Growth Rate (CAGR) of 5.9%. This positive momentum is attributed to various factors such as consumer packaging trends, expansion in the food and beverage industry, increasing pharmaceutical packaging needs, and growing environmental concerns.

 

 

Future Projections

Looking ahead, the market is poised for even stronger growth, with a projected size of $97.78 billion in 2028, boasting a CAGR of 6.0%. The forecasted expansion is driven by factors like the rise in e-commerce packaging, sustainability initiatives, the flourishing healthcare industry, and innovations in tamper-evidence. Noteworthy trends in the forecast period include the emergence of smart packaging, customization and personalization, child-resistant innovations, and improved dispensing systems.

 

 

Non-Alcoholic Beverage Consumption: A Catalyst for Growth

The surge in non-alcoholic beverage consumption is set to be a significant driving force for the caps and closure market. Non-alcoholic beverages, devoid of or low in alcohol content, create a demand for secure packaging solutions. Caps and closures play a pivotal role in maintaining a tight and secure barrier, safeguarding these beverages from moisture, humidity, and contaminants. For example, data from the Australian Bureau of Statistics indicates a 1.4% increase in the sale of 14.7 million metric tons of food and non-alcoholic drinks in 2021, underscoring the market’s reliance on this growing consumer trend.

 

 

Key Players in the Market

Major players shaping the caps and closures market landscape include Reynolds Group Holdings Limited, WestRock Company, Ball Corporation, Amcor PLC, Crown Holdings Incorporation, and many others. The market is characterized by a diverse range of companies contributing to its dynamism and competitive spirit.

 

 

Get A Free Sample On The Global Caps And Closures Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=13008&type=smp

 

 

Sustainable Closures: Paving the Way Forward

Innovation takes center stage in the evolution of the caps and closures market. Leading companies are focusing on advanced packaging solutions, particularly sustainable closures, to fortify their market positions. An exemplar of this trend is United Caps Holding SA, which introduced the 23 H-PAK, an innovative and sustainable attached closure for carton packaging. This closure, equipped with a unique tamper-evident (TE) ring, not only ensures product integrity but also facilitates easy recycling.

 

 

Guala Closures Group’s Strategic Move

July 2022 witnessed Guala Closures Group’s strategic acquisition of Labrenta Srl, an Italy-based manufacturer specializing in synthetic cork and custom liquor closures. This move adds to Guala’s strength in the luxury closures sector, underlining the industry’s dynamism and continuous expansion.

 

 

Market Segmentation

The caps and closures market is segmented based on various parameters:

• Type: Screw Caps, Dispensing Caps, Other Types
• Raw Material: Plastic, Metals, Others Raw Materials
• Technology: Injection Molding, Compression Molding, Post-Mold Tamper-Evident Band
• End-User: Food, Beverage, Healthcare, Cosmetics And Toiletries, Other End-Users

 

 

Regional Dominance

As of 2023, Asia-Pacific emerges as the largest region in the caps and closures market, underlining the region’s pivotal role in the industry’s growth.

 

 

Read The Full Caps And Closures Market Report Here:
https://www.thebusinessresearchcompany.com/report/caps-and-closures-global-market-report

 

 

The Caps And Closures Global Market Report 2023  provides an overview of the caps and closures market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The caps and closures market forecast analyzes caps and closures market size, caps and closures market share, leading competitor and their market positions.

 

 

The Table Of Content For The Caps And Closures Market Include:

1. Caps And Closures Market Executive Summary
2. Caps And Closures Market Segments
3. Caps And Closures Market Size And Caps And Closures Market Growth Rate
4. Key Caps And Closures Market Trends
5. Major Caps And Closures Market Drivers
……
25. Key Mergers And Acquisitions In The Caps And Closures Market
26. Top Caps And Closures Companies
27. Caps And Closures Market Opportunities And Strategies
28. Caps And Closures Market, Conclusions And Recommendations
29. Appendix

 

 

Explore Similar Reports From The Business Research Company:

Plastic Caps And Closures Global Market Report 2023

Plastic Products Global Market Report 2023

Bioplastics Global Market Report 2023

 

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

 

 

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: