The global plastic caps & closures market size is slated to surpass a valuation of USD 45,913.6 million in 2023. FMI anticipates the market is estimated to attain a valuation of USD 76,953.0 million by 2033. The market is predicted to showcase a CAGR of 5.3% from 2023 to 2033.
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.
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.
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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 USD 36,420.4 million.
- The market size valued at USD 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.
- 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.
Competitive Landscape
The top and small-scale producers in the global market are focused on the changing industry needs of the end user and manufacturing accordingly. Key market players are implementing market strategies such as product portfolio expansions and mergers and acquisitions to increase their business reach and market position.
Key Players in the Global Market
- 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
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 a 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.
Plastic Caps & Closures Market Segmentation
By Caps Type:
- Screw Closures
- Snap Closures
- Push-Pull Closures
- Others
By Material Type:
- Thermoplastic
- PE
- LDPE/LLDPE
- HDPE
- PP
- Others (PS, PET, etc.)
- PE
- Thermosets
By End-use:
- Beverage
- Food
- Pharmaceutical
- Household
- Cosmetics & Personal Care
- Others (Chemicals, Fertilizers, etc.)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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