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The plastic caps and closures market has experienced robust growth, surging from $46.92 billion in 2023 to $50.23 billion in 2024, reflecting a substantial compound annual growth rate (CAGR) of 7.1%. The historical growth is attributed to competition driving innovation, the impact of market globalization, the influence of consumer preferences, and the introduction of innovative closure designs. Projected into the future, the market is expected to witness strong growth, reaching $66.84 billion in 2028, with a CAGR of 7.4%. The forecasted growth is driven by factors such as the rise in demand for packaged products, a focus on sustainability, a preference for lightweight solutions, customization and branding needs, and adaptation to consumer preferences. Noteworthy trends in this period include competition and product differentiation, global market expansion, the market’s response to consumer preferences, regulatory compliance, and the demand for convenience.

The plastic caps and closures market is witnessing growth propelled by increasing global demand for bottled water. Bottled water, packaged in plastic or glass containers, relies on plastic caps and closures for spill prevention, easy transport, and extended shelf life. According to the International Bottled Water Association in May 2023, Americans consumed a substantial volume of bottled water in 2022, amounting to 46.5 gallons per person and contributing to a market value approaching $46 billion. This upward trend in consumption is expected to persist, driving demand for plastic caps and closures in the forecast period, reflecting anticipated market sizes for 2023, 2024, and 2028.

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What Are The Key Trends That Influence Plastic Caps And Closures Market Share Analysis?

Key players operating in the plastic caps and closures market are focusing on developing and launching innovative products to meet the sustainability targets set by governing bodies across the globe. For instance, in October 2023, Berry Global, a US-based packing company, introduced a new lightweight tube closure solution called the Slimline range, which is designed to provide modern design and material versatility while reducing greenhouse gas emissions compared to traditional caps. The closures are available in 35mm and 50mm diameters, each in matte and glossy surface finishes, and with 3mm and 5mm orifices.

Which Market Players Are Driving Growth In The Plastic Caps And Closures Market?

Major companies operating in the plastic caps and closures market report are Berry Global Inc., Amcor plc, Crown Holdings Inc., Silgan Holdings Inc., AptarGroup Inc., Berlin Packaging LLC, Albea SA, BERICAP GmbH & Co KG, Closure Systems International Inc., CL Smith Company, O.Berk Company, TricorBraun Ltd., Pretium Packaging LLC, United Caps Luxembourg S.A., Mold-Tek Packaging Ltd., Phoenix Closure Inc., Mold-Rite Plastics LLC., United States Plastic Corp, Tim Plastics Inc., Kaufman Container, Pano Cap Limited, Blackhawk Molding Co Inc., Comar LLC., MJS Packaging Services Ltd., Plastic Closures Ltd., Caps & Closures Pty Ltd., Weatherchem Corporation, Guala Closures Group India Pvt Ltd., Cap & Seal Pvt Ltd., Hicap Closures Co Ltd., All American Containers Inc., Alpha Packaging Pvt Ltd., CKS Packaging Inc.

How Is The Global Plastic Caps And Closures Market Segmented?

The plastic caps and closures market covered in this report is segmented –

1) By Product Type: Screw Caps, Dispensing Caps, Other Product Types
2) By Materials: Polypropylene, Polystyrene, Polyethylene, Other Materials
3) By End-User: Pharmaceutical, Personal Care, Food And Beverages, Other End-Users

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The Plastic Caps And Closures Global Market Report 2024 provides an overview of the plastic caps and closuresmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The plastic caps and closures market forecast analyzes plastic caps and closures market size, plastic caps and closures market share, leading competitor and their market positions.

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

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

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