Plastic Caps & Closures Market by Raw Material, Container, Technology, Product, End User

Description

List of Tables

[189 Pages Report] The Plastic Caps & Closures Market size was estimated at USD 35.32 billion in 2023 and expected to reach USD 37.75 billion in 2024, at a CAGR 7.00% to reach USD 56.74 billion by 2030.

The plastic caps and closures market comprises the manufacturing and selling of plastic lids, caps, and closures for various container types. These products are essential for preserving product integrity, extending shelf life, and ensuring the safety of consumer goods. They are employed across various applications, including beverages, food, pharmaceuticals, cosmetics, household chemicals, and personal care products. Growth in this sector is propelled by innovation in design, increased consumption of packaged food and drinks, an expanding pharmaceutical industry, environmental motivations for eco-friendly products, and rigorous regulatory standards. Opportunities for market expansion include the adoption of smart closures with digital features for consumer engagement, eco-conscious solutions using sustainable materials, penetration into developing markets with rising packaged goods consumption, and innovative closure designs for e-commerce. However, challenges such as fluctuating plastic prices, stringent environmental policies, fierce market competition, and the necessity for advanced technology adaptations may hinder growth. Furthermore, the industry focuses on material science advancements for sustainable alternatives, smart packaging technologies, offering customization options, implementing production automation, and improving recycling methods.

KEY MARKET STATISTICS
Base Year [2023]	USD 35.32 billion
Estimated Year [2024]	USD 37.75 billion
Forecast Year [2030]	USD 56.74 billion
CAGR (%)	7.00%

Container: Glass containers paired with plastic closures offer an aesthetically pleasing appearance

Glass containers have been a staple in packaging due to their impermeability, reusability, and overall premium appearance. The need for plastic caps and closures for glass containers typically arises in the food and beverage industry, pharmaceuticals, and cosmetics. Consumers often prefer glass for products sensitive to taste or purity, as glass is non-reactive and can preserve the product's integrity. Plastic containers are ubiquitous across various industries due to their lightweight, durability, and cost-effectiveness. Caps and closures for plastic containers must be designed to fit the versatile shapes and sizes available while considering the product's end-use requirements. These are widely used in all segments, from household cleaners to personal care products.

End User: Growing demand for plastic caps & closures from food & beverage sector

In the beverage sector, plastic caps and closures are vital for ensuring product integrity, maintaining carbonation in soft drinks, and providing a convenient user experience. Lightweight and tamper-evident features are among the most sought-after properties for this segment. The food sector requires plastic caps and closures that ensure prolonged shelf life, ease of use, and maintain freshness. Convenience features such as resealability and dispensing capabilities are in high demand. Plastic caps and closures for personal and home care products must combine aesthetics with functionality, considering consumers' demand for convenience and aesthetic appeal. Secure closures to prevent leakage, especially for liquid products, are a primary concern. The pharmaceutical industry requires caps and closures that meet stringent safety and quality standards. Tamper-evident, child-resistant, and senior-friendly designs are key features. Moreover, closures in this segment must preserve the efficacy of the medication throughout its shelf life.

Regional Insights

In the Americas, the United States and Canada play pivotal roles in the plastic caps and closures market. High consumption rates of bottled water, carbonated beverages, and pharmaceutical products drive the need for innovative plastic closures. The U.S. market is highly competitive, with customer purchasing behavior increasingly inclined towards sustainable packaging solutions. Initiatives such as incorporating post-consumer recycled content and biodegradable plastics are becoming more prevalent in the region. The Asia Pacific region has witnessed swift expansion in plastic caps and closures consumption, largely propelled by countries such as China, Japan, and India. Growth factors include rapidly expanding beverage industries, rising consumption of packaged foods and personal care products, and increasing health awareness, resulting in demand for high-quality and secure packaging. In China and India, urbanization, burgeoning middle-class populations, and growing disposable incomes contribute to heightened consumer need for products with plastic caps and closures. The European, Middle Eastern, and African markets display a mature stance with an ingrained emphasis on regulatory compliance, safety, and sustainable development. The EU leads with innovative approaches to minimize materials and carbon footprint, while the Middle East and Africa are experiencing growth spurred by demographic and urban shifts.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Plastic Caps & Closures Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Plastic Caps & Closures Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Plastic Caps & Closures Market, highlighting leading vendors and their innovative profiles. These include Albea Group, Amcor PLC, AptarGroup, Inc., Bericap Holding GmbH, Berry Global, Inc., Caps & Closures Pty Ltd., Chemco Group, Closure Systems International, Inc., Comar, LLC, Coral Products PLC, Crown Holdings, Inc., Guala Closures S.p.A., Heinlein Plastik-Technik GmbH, J.L. Clark, Kutterer Mauer AG, O.Berk Company, LLC, Pact Group, Pano Cap Canada Ltd., Phoenix Closures, Inc., RADOLID Thiel GmbH, Retal Industries LTD, Silgan Holdings Inc., Tetra Laval International S.A., TriMas Corporation, and United Caps Luxembourg S.A..

Market Segmentation & Coverage

This research report categorizes the Plastic Caps & Closures Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material
- High Density Polyethylene
- Low Density Polyethylene
- Polypropylene

Container
- Glass
- Plastic

Technology
- Compression Molding
- Injection Molding
- Post-mold Tamper-evident Band

Product
- Dispensing Caps
- Screw-on Caps

End User
- Beverages
- Food
- Personal & Homecare
- Pharmaceuticals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Plastic Caps & Closures Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Plastic Caps & Closures Market?

3. What are the technology trends and regulatory frameworks in the Plastic Caps & Closures Market?

4. What is the market share of the leading vendors in the Plastic Caps & Closures Market?

5. Which modes and strategic moves are suitable for entering the Plastic Caps & Closures Market?

Product Code: MRR-035AB9C0DA52

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Demand for Bottled Water and Non-Alcoholic Beverages
  - 5.1.1.2. Rising Innovation in the Convenience Packaging to Ensure Product Safety & Security
  - 5.1.1.3. Surging Demand from Pharmaceutical and Cosmetics Industries
- 5.1.2. Restraints
  - 5.1.2.1. Availability of Substitutes for Plastic Caps & Closures
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing Need for Customization of the Plastic Caps & Closures by End-Users
  - 5.1.3.2. Adoption of Bio-Based Additives and Biodegradable Plastic Caps & Closures
- 5.1.4. Challenges
  - 5.1.4.1. Environmental Concerns Regarding the Disposal of Used Plastic Caps & Closures
5.2. Market Segmentation Analysis
- 5.2.1. Container: Glass containers paired with plastic closures offer an aesthetically pleasing appearance
- 5.2.2. End User: Growing demand for plastic caps & closures from food & beverage sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Plastic Caps & Closures Market, by Raw Material

6.1. Introduction
6.2. High Density Polyethylene
6.3. Low Density Polyethylene
6.4. Polypropylene

7. Plastic Caps & Closures Market, by Container

7.1. Introduction
7.2. Glass
7.3. Plastic

8. Plastic Caps & Closures Market, by Technology

8.1. Introduction
8.2. Compression Molding
8.3. Injection Molding
8.4. Post-mold Tamper-evident Band

9. Plastic Caps & Closures Market, by Product

9.1. Introduction
9.2. Dispensing Caps
9.3. Screw-on Caps

10. Plastic Caps & Closures Market, by End User

10.1. Introduction
10.2. Beverages
10.3. Food
10.4. Personal & Homecare
10.5. Pharmaceuticals

11. Americas Plastic Caps & Closures Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Plastic Caps & Closures Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Plastic Caps & Closures Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Berry Launches New Lightweight Tube Closure Solution
- 14.3.2. United Caps Introduces Innovative Tethered Closure for Carton Packaging 23 H-Pak Seamlessly Integrates With an Out-Of-The-Box Tethered Solution
- 14.3.3. Mespack and Hoffer launch Spout and Cap Closure Made of Monolayer Material, Utilising '20% Less' Plastic

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio