- Screw-on caps
- Dispensing caps
- Others
Plastic Caps and Closures Market was valued at USD 48.8 billion in 2022 and is poised to grow at a CAGR of 16.2% from 2023-2029. The drivers for the market growth are product modernization to aid product differentiation & branding, rising demand for smaller-size packs, and demand from small & medium-sized end users. However, lightweight and cost-effective stand-up pouch packaging alternatives, regulations of environmental degradation on manufacturers and charging taxes, and substitute products availability are the factors that hinder the growth of the market. Plastic caps & closures are utilized in a wide range of industries, including food and beverage, medicines, household items, and cosmetics. The final components of the packaging are caps and closures, which are responsible for protecting the integrity of the product packaging. PP and PE are the principal raw materials used in the production of caps and closures. Plastic caps & closures Market are widely used in industry because they provide a cost-effective sealing option. The demand for packaged foods and prescription products has been expanding at a healthy rate, and the caps and closures market is projected to benefit from this trend over the forecast period. This industry, on the other hand, is completely reliant on the suppliers of raw materials for manufacturing. The raw materials PP and PE, which are employed as raw materials, have wildly varying market prices. Manufacturers struggle to maintain consistent output because the cost of production is based on this raw resource.
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In the pharmaceutical market, gains in plastic closures will be driven by continued growth in pharmaceutical production, as well as by ongoing initiatives by drug manufacturers to stay in line with government regulations and industry requirements that include the child-resistant, senior-friendly, and safety features of pharmaceutical packaging systems. Increased use of high value – added dispensing and other functional closures that help in oral liquid, topical and other drug administration would also result in value development.
The plastic caps and closures market size was valued at USD 48.8 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
The plastic caps and closures market key players are: Berry Group, Crown Holding, Aptar Group, Amcor, Coral Products, Closure Systems International