Global Caps and Closure Market By Material, By Product, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

The caps and closure market size is expected to be worth around USD 153,767.32 million by 2031 from USD 92,620.4 million in 2021, growing at a CAGR of 5.2% during the forecast period from 2021 to 2031.

Global Caps and Closure Market

Material Analysis

Regarding market share, the plastic segment held 54% of the caps and closure market. It is expected to continue growing at the fastest rate CAGR for the forecast period. Plastic material has a lower rate of degradability than other plastics and produces more CO2 emissions. Recycling is a growing trend in caps and closures manufacturing to reduce dependency on virgin plastic. Many companies use recycled content as a raw material. Menschen and Borealis AG, for example, launched ten packaging lids made of 50% PCR plastic propylene in September 2020. These can be used for laundry or home care products.

On the other hand, metal is more durable and sustainable than plastic closures, so it is gaining popularity in the market. Metal closures can be used in metal cans for food products to cover beverage glass bottles and bottles of pharmaceuticals. Crown released new metal closures for PET-based containers in January 2017.

Other materials like glass and wood are becoming increasingly popular because they provide strong sealing solutions and aesthetic appeal to packaging. Vinolok a.s. offers a wide range of glass closures with different shapes and customization options. Glass and wooden corks are used to protect perfume scents for longer periods of time.

Application Analysis

In 2021, the food sector held the largest revenue share at over 26% and will remain in the top spot for the forecast period. The segment is expected to grow due to the rising consumption of packaged food products, ready-to-eat food (RTE), and on-the-go snacks. A growing intake of non-alcoholic beverages likely supports the segment’s growth. Further, the growth of functional beverages like energy & sports drinks, probiotic beverages, meal replacements, and fruit & vegetable-based beverages packaged in glass bottles or metal containers is expected to boost segment growth.

Caps and closure seal and protect bottles and cans with drugs, vitamins, and saline. The increasing demand for caps and closure markets that are child- and senior-friendly will increase the product segment. Innovative closures are being developed using medical-grade materials by companies to protect medical instruments. Different cap products can be used in healthcare to protect the ends and tips.

According to forecasts, the fastest CAGR in cosmetics and toiletries will be 5.5%. Cosmetic packaging products are expected to grow in demand because of the demand for cosmetics. Because they are low-cost, cosmetics manufacturers often use plastic closures to protect lip and nail products. Over the forecast period, the automotive segment will also see significant growth. Effective sealing options are required for motor oil and other car care products, such as screw caps with liners. According to the European Automobile Manufacturers Association, in 2019, the global motor vehicle volume was estimated at 92.8 million. The automotive sector is expected to expand due to increased vehicle usage.

Paints, home care products, and insect repellents are all possible applications. You can use home care products such as laundry detergents, dishwashing detergents, and floor cleaners. Henkel released a new closure in July 2018 for its Persil laundry soap. The two-piece closure has a dispensing system with a spout section and a top part. These can be used to dose as required or put in the washing machine for dispensing.

Product Analysis

The segment of dispensing caps held the highest revenue share, at 34%, in 2021. This will be the period with the fastest CAGR. Many types of dispensing caps, including triggers, pumps, and flip-flops, are used in many industries, including food, cosmetics, and pharmaceutical. The growth of this caps and closure market is anticipated to be aided by the availability of different dispensing caps according to the product being packaged, the ease of usage, and the controlled flow of packaged products.

Screw caps contain threading that allows the container to be sealed tightly. Screw caps made of metal are used to seal bottles of tablets, tonics, and cough syrups. These caps help protect the medicine from contamination and moisture. BERICAP provides screw caps suitable for a tinplate container under automotive applications. These caps are tear-off sealed, providing a solution for tamper-proof.

Crown closures are made mainly of metal and feature crown-like structures. Crown closures can seal glass bottles of beer and energy drinks. Kirin Holdings Company Ltd. released data showing that beer consumption worldwide was approximately 298,200 million bottles. These bottles had a capacity of 633 ml. The rising beverage consumption is expected to increase the demand for packaging closures.

Metal cans with metal lids are widely used to store food products such as fish, supplement powders, infant formula, and pet food. Canning allows food to be preserved and retains its nutritional value. Canning can also help preserve food quality, which is expected to boost the consumption of canned food products. Aerosol cans are used to pack air fresheners, insecticides, or polishes. Silgan Dispensing Systems offers Ergosol Max, a trigger-activated aerosol can sprayer. It has an integrated cap/trigger/manifold. Such an integrated system can help reduce the additional cost of parts assembly.

Key Market Segments

Material

• Metal
• Plastic
• Others

Product

• Dispensing Caps
• Crown Closures
• Screw Closures
• Aerosol Closures
• Others

Application

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

Market Dynamics

The caps and closure market is expected to grow due to increasing demand for food and alcoholic and non-alcoholic beverage products. Caps & closings protect product contents from exposure to air, light, and dust particles. They also extend the product’s shelf-life. These products are susceptible to microbial attacks and require tight seals in food & beverage packaging. For covering containers, a food-grade material must be used. Caps & Closures can also be used in pharmaceutical, personal, home care, and automotive industries.

In addition, the rising awareness about the benefits and importance of healthy eating will increase the demand for dietary products, which will drive the demand for packaging products. CRN (Council for Responsible Nutrition) surveyed consumers in 2020 about dietary supplements. It found that 98% of respondents consumed vitamins and minerals, 44% used herbals and botanicals, 30% used sports nutrition, and 19% weight management supplements. These Key factors will all contribute to the caps and closure market growth.

The COVID-19 impact pandemic had a significant impact on the alcohol beverage industry. There were no resorts, hotels, or bars left open in 2020. However, lockdowns in place across countries worldwide increased domestic beer consumption. The National Beer Wholesalers Association reports that beer cans will account for 67% of all beer packaging in 2020, up from 60% in 2019. This is due to the convenience of cans and their increased closure demand.

Raw material suppliers are focused on materials that have excellent packaging properties. This allows closure manufacturers to make custom designs. SABIC (one of the major players in plastic material production) launched a new range of Polypropylene PP and Polyethylene PE in May 2018. It is specifically intended for use in caps and closure. The company has created a multi-modal HDPE with organoleptic properties and Environmental Stress Cracking Resistance (ESCR). Cap manufacturers can now create lightweight closures and closures that don’t alter the taste of the contents (e.g., bottled water).

Additionally, companies are focusing their efforts on procuring recycled materials to manufacture caps. The possibility of using post-consumer recycled steel, aluminum cap, or plastic as raw materials is being explored. Closure Systems International launched a beverage closing made with 30% PCR content in collaboration with Coca-Cola in October 2020. This will increase product sustainability.

Regional Analysis

Asia Pacific was the biggest regional caps and closure market in 2021, with a revenue share exceeding 41%. The regional market is expected to expand at a faster CAGR during the forecast period. The growth of the food & beverage industry and the presence in the region of countries such as India and China are expected to propel the market. Additionally, the region will see a rise in demand for caps & closings from countries such as Japan, South Korea, and South Korea.

North America had a significant revenue share for 2021 because of the increase in non-alcoholic beverage consumption in countries like the U.S. New types of beverages are expected to increase in demand for packaging products. Truss CBD USA, a joint venture formed by Molson Coors Beverage Company, HEXO Corp., and HEXO Corp., introduced five CBD beverages to Canada in April 2021. The packaging industry for two of these beverages, The House of Terpenes Valencene & Sparkling Tonic and Mollo 5 Lime is glass with crown closures. The rest of the products are in metal cans.

In 2021, South America and North America accounted for a relatively small market share. It is expected to grow quickly due to rapid urbanization in Brazil and higher consumer spending in Brazil. According to the Brazilian Aerosol Association, in 2019, the total aerosol consumption was 1.39 million units. The personal care category produced the most aerosol units, accounting for approximately 700,521,869. Next came 304,641,942 aerosol units under the household care category, which includes air fresheners, insecticides, and cleaners. in Brazil in 2019. The caps and closure market is expected to grow due to the expansion of many end-use industries in Brazil, including personal care, home care, food & soft drink, and health care.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

The market is characterized both by multinational players as well regional players. There are also several publicly listed companies worldwide, which makes it competitive. These key players mainly focus on the food & beverage, pharmaceutical, and beauty products industries.

Large companies’ expansion of aluminum-based packaging is expected to increase their product range. Crown’s new closures, made of a PVC-free compound, were introduced in May 2017 and can be used to pasteurize and sterilize products like sauces or cooked veggies.

Companies are constantly looking to provide customers with unique solutions, such as custom cap printing or coating services. To be competitive landscape in the market, manufacturers of caps and closures can offer highly customized products such as that are BPA-free, printed in compatible colors, and have attractive designs. Ball Corp., for example, introduced Cameo End Printing in April 2018 for beverage cans.

Major Key Players

These are just a few of the major players in the caps and closure market:

• Crown holdings, inc.
• Closure Systems International
• Amcor plc
• Guala Closures Group
• Ball corporation.
• Berry Plastics Corporation.
• Silgan Holding Inc.
• BERICAP
• AptarGroup Inc.
• Other prominent Players

For the Caps and Closure Market research study, the following years have been considered to estimate the market size: