Report : North America Child Resistant Closures Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Polypropylene, Polyethylene, Metal, and Others), Closure Type (Push and Turn, Squeeze and Turn, Others), and End Use (Pharmaceutical, Household Product, Cosmetic and Personal Care, Chemicals and Fertilizer, Food and Beverage, and Others)
At 7.2% CAGR, the North America Child Resistant Closures Market is speculated to be worth US$ 901.06 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America child resistant closures market was valued at US$ 562.75 million in 2022 and is expected to reach US$ 901.06 million by 2028, registering an annual growth rate of 7.2% from 2022 to 2028. Growing demand for child resistant closures due to growth in pharmaceutical industry and burgeoning adoption of child resistant closures in packaging to avoid accidental poisoning.
Child resistant closures are an essential requirement, especially when it is related to pharmaceuticals. Despite a decrease in cases of accidental poisoning in recent years, accidental child poisoning remains a significant risk in several homes, with prescription medicines and over-the-counter presenting the most significant risk. Growing sales of pharmaceuticals is a significant factor boosting the demand for child resistant closures. The growing demand for pharmaceutical products, such as over-the-counter drugs (OTC) is increasing the demand for these products. According to the IQVIA, during 2015-2020, the average market growth of the US market is 4.9%. Additionally, the US medicines' spending increased by 12% in 2021. Child resistant closures are designed to limit the danger of hazardous compounds that children accidentally ingest. The World Health Organization (WHO) considers child resistant closures one of the most effective methods for reducing accidental poisoning in children. It has minimized the incidence of medication-related deaths. Thus, the growing need for medicines across the region and the need to prevent acute poisoning is boosting the demand for child resistant closures.
On the contrary, limited regulations in few countries across the region.
- Based on material, the North America child resistant closures market is segmented into polypropylene, polyethylene, metal, and others. The polypropylene segment held 59.8% market share in 2022, amassing US$ 355.72 million. It is projected to garner US$ 535.28 million by 2028 to expand at 7.0% CAGR during 2022–2028.
- Based on closure type, the North America 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$ 354.87 million. It is projected to garner US$ 553.52 million by 2028 to expand at 7.7% CAGR during 2022–2028.
- Based on end user, the North America 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 32.6% market share in 2022, amassing US$ 194.14 million. It is projected to garner US$ 298.80 million by 2028 to expand at 7.5% CAGR during 2022–2028.
- Based on country, the North America child resistant closures market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.6% market share in 2022. It was assessed at US$ 456.08 million in 2022 and is likely to hit US$ 707.14 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.
Key players dominating the North America child resistant closures market are Berry Global Inc.; AptarGroup, Inc.; O.Berk Company; Georg MENSHEN GmbH & Co. KG; Tecnocap S.p.A.; United Caps; HEINLEIN PLASTIK-TECHNIK GMBH; BERICAP; CL Smith; and Van Blarcom Closures Inc. among others.
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