Asia Pacific Child Resistant Closures Market is expected to reach US$ 1,493.11 million by 2028

At 6.0% CAGR, the Asia Pacific Child Resistant Closures Market is projected to be worth US$ 1,493.11 million by 2028, says The Insight Partners   

According to The Insight Partners’ research, the Asia Pacific child resistant closures market was valued at US$ 1,053.33 million in 2022 and is expected to reach US$ 1,493.11 million by 2028, registering an annual growth rate of 6.0% from 2022 to 2028. Extending demand for cannabis-infused food and beverages and strengthening demand for eco-friendly child resistant closures.                

Cannabis, commonly known as marijuana, is a psychoactive drug obtained from the species of a flowering plant within the hemp family. Tetrahydrocannabinol (THC) is the main psychoactive agent and is among the prominent active compounds in the plant, including others such as terpenes and cannabidiol. Cannabis is widely consumed owing to its therapeutic and medicinal benefits. The cannabis-infused food has gained momentum due to the increasing popularity and consumption of cannabis by consumers. Cannabis-infused food and beverage made their first appearance in the market through baked goods such as cakes, brownies, and cookies. The other different varieties of cannabis-infused food and beverage products include popcorns, candies, gummy bears, chocolate bars, THC beverages, chips, and others. These food and beverage products are witnessing rapid growth due to increasing product innovation and new product launches by manufacturers. The legalization of cannabis in many countries for medicinal and recreational use fueled the demand for cannabis-infused food and beverage. it is mandatory to use child resistant packaging for the packaging of cannabis products. Such regulations are expected to propel the growth of the child resistant closure market during the forecast period.  

On the contrary, lack of regulations in few countries across the region. 

• Based on material, the Asia Pacific child resistant closures market is segmented into polypropylene, polyethylene, metal, and others. The polypropylene segment held 60.1% market share in 2022, amassing US$ 642.40 million. It is projected to garner US$ 905.15 million by 2028 to expand at 5.9% CAGR during 2022–2028.
• Based on closure type, the Asia Pacific child resistant closures market is categorized into push and turn, squeeze and turn, and others. The push and turn segment held 59.6% market share in 2022, amassing US$ 627.95 million. It is projected to garner US$ 917.16 million by 2028 to expand at 6.5% CAGR during 2022–2028.  
• Based on end user, the Asia Pacific child resistant closures market is segmented into pharmaceutical, household product, cosmetic and personal care, chemicals and fertilizer, food and beverage, and others. The pharmaceutical segment held 27.8% market share in 2022, amassing US$ 292.55 million. It is projected to garner US$ 421.51 million by 2028 to expand at 6.3% CAGR during 2022–2028.
• Based on country, the Asia Pacific child resistant closures market has been segmented into Australia, China, India, Japan, South Korea, and Rest of APAC.  Our regional analysis states that China captured 48.0% market share in 2022. It was assessed at US$ 505.67 million in 2022 and is likely to hit US$ 738.56 million by 2028, exhibiting a CAGR of 6.5% during the forecast period.  

Key players dominating the Asia Pacific child resistant closures market are Berry Global Inc.; AptarGroup, Inc.; O.Berk Company; Georg MENSHEN GmbH and Co. KG; Tecnocap S.p.A.; United Caps; HEINLEIN PLASTIK-TECHNIK GMBH; and BERICAP among others.

Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com