Plastic Caps & Closures Market in the United States: A Rapid Growth Trajectory, Anticipated To Attain A Valuation Of US$ 76,953.0 Million By 2033 | FMI Reports

The global plastic caps & closures market size is slated to surpass a valuation of US$ 45,913.6 million in 2023. FMI anticipates the market is estimated to attain a valuation of US$ 76,953.0 million by 2033. The market is predicted to showcase a CAGR of 5.3% from 2023 to 2033.

The United States plastic caps & closures market exhibited substantial growth, with a value of US$ 8 billion in 2021, and is projected to surpass US$ 10.5 billion by 2029, maintaining a steady compound annual growth rate (CAGR) of 3.7% from 2023 to 2029. In 2022, the U.S. accounted for 18.9% of the global market, signifying its significance in the plastic caps & closures industry, particularly in North America.

The country’s beverage industry is a significant driver behind this growth, as it continues to stimulate demand for caps and closures due to the introduction of a diverse range of beverages. Notably, the increasing popularity of bottled water is a prominent factor propelling the growth of the caps & closures market in the United States. Additionally, the packaging requirements for various beverages such as energy drinks, diet drinks, sports drinks, and dairy products are expected to further accelerate market growth in the country. The United States is poised to maintain its dominant position in the North American plastic caps & closures market by value.

For packing and closing various kinds of bottles, tubes, containers, and jars, plastic caps, and closures provide a reliable and secure packaging option. Thermoplastic and thermoset plastics are the materials used to make plastic caps and closures.

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Plastic caps and closures are great for packaging a range of carbonated and non-carbonated beverages as well as industrial items since they are lightweight and recyclable.

The increasing number of millennials in emerging nations and their increasing disposable incomes drive the consumption of carbonated and non-carbonated drinks. Due to shifting inclinations toward healthy lifestyles, the market for plastic caps & closures has experienced notable expansion.

The demand for plastic caps and closures is expected to increase as consumers turn to convenient packaging options.

The United States is anticipated to be a significant growth region during the forecast period. The rising product innovations, expanding food and beverage industry, and growing demand for bottled water are expected to bolster regional market growth.

Key Takeaways from Plastic Caps & Closures Market:

• In 2018, the global plastic caps & closures market size stood at US$ 36,420.4 million.
• The market size valued at US$ 43,602.7 million in 2022.
• The market expanded at a considerable CAGR of 4.6% from 2018 to 2022.
• In 2022, the screw closures segment captured 71.0% market share.
• The thermoplastics accounted for nearly 97% of the total plastic caps & closures market in 2022.
• In 2022, the beverage segment captured 49.1% market share.
• In 2022, the United States accounted for 18.9% market share.

The Major key Players Are:

• Berry Global Inc.
• Amcor Plc
• Silgan Plastics
• Aptar Inc.
• O.Berk Company LLC
• Bericap GmbH & Co KG
• UNITED CAPS
• CL Smith Company
• Closure Systems International Inc.
• BLACKHAWK MOLDING CO. Inc.
• Georg MENSHEN GmbH & Co. KG
• Mold-Rite Plastic LLC
• Plasticap Inc.
• Guala Closures S.p.A.
• Weener Plastik GmbH

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Recent Developments Observed by FMI:

• For the Estathè brand of sweet tea soft drinks from Ferrero, Aptar debuted a new practical product packaging in May 2023. To package Estathè, Ferrero used an Aptar Rocket sports hat.
• In March 2023, United Caps introduced a brand-new tethered closure for carton packing. The Tamper-Evident (TE) band included in the new 23 H-PAK tethered solution keeps all components whole for quick recycling and is easy to incorporate with existing practices.
• Mespack and hoffer introduced spout and cap closure in January 2023. The new closure uses 20% less plastic and is comprised of a monolayer material.
• Silgan Plastics, a top provider of eco-friendly rigid packaging solutions, purchased Gateway Plastics in September 2021. Gateway Plastics makes dispensing closures and offers integrated dispensing packaging solutions to the food and beverage industry.
• In June 2021, Mala Verschluss-Systeme GmbH was bought by BERICAP, a well-known producer of plastic closures. Manufacturers of aluminum closures include Mala. With the purchase of Mala, BERICAP might expand its product line to include aluminum closures and create cutting-edge closure solutions that combine plastic and aluminum.
• Aptar Global, Inc. debuted PolkaLite, a new product category, in January 2022. PolkaLite is a closure that performs better and is convenient since it is light.

Rising Consumption of Carbonated and Non-Carbonated Drinks Boost the Sales of Plastic Caps and Closures

1. Convenience and Hygiene: Plastic caps and closures provide a convenient and hygienic way to seal beverage containers. They help to preserve the freshness and quality of the drink, preventing contamination and spillage, which is particularly important for on-the-go consumption.
2. Popularity of Single-Use Packaging: Single-use packaging is widely used for individual servings of carbonated and non-carbonated drinks. Plastic caps are the preferred choice for sealing such containers due to their affordability and ease of use.
3. Versatility: Plastic caps come in various sizes and shapes to accommodate different bottle and container designs. This versatility makes them suitable for a wide range of beverages, including sodas, water, juices, energy drinks, and more.
4. Branding and Marketing: The appearance of the cap and closure can play a crucial role in branding and marketing. Beverage companies often use custom-designed caps to distinguish their products and create a unique brand identity.
5. Environmental Considerations: While plastic caps are widely used, there is a growing concern about their environmental impact. This has led to innovations in sustainable packaging, such as recyclable and eco-friendly caps. Manufacturers are increasingly exploring options to reduce the environmental footprint of plastic caps.
6. Emerging Markets: The growth of the beverage industry in emerging markets is also contributing to the increased demand for plastic caps and closures. As disposable income rises in these regions, the consumption of carbonated and non-carbonated drinks is on the upswing.