Caps & Closures Market by Material (Plastic, Metal, and Others), Product (Dispensing Caps, Screw Caps, Crown Closures, Aerosol Closures, and Others), Application (Food and Beverages, Healthcare, Cosmetics & Toiletries, Automotive, and Others): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 70 billion mark in 2022 and is expected to hit US$ 110 billion by 2030, recording a CAGR of 5.4% during the forecast period.

Caps & closures market is significantly increasing with its use in various industrial application.  

Increasing consumers demand for convivence and concerns about product safety & security, growing demand for bottled water, and product differentiation and decreasing packaging size are some of the major factors driving the growth of the market. The plastic segment is expected to pace up owing to its high mechanical strength, high resistance to wear & corrosion, and high stiffness properties. In addition, the growth of the segment is propelled by rising consumption of beverages such as soft drinks. Further, metal segments are also expected to gain traction during the forecasted year.

Within the report, the market is segmented into material, product, application, and geography. By material, the market is further segmented into plastic, metal, and others. On the basis of product, the market is segmented into dispensing caps, screw caps, crown closures, aerosol closures, and others. By application, the market is categorized into food and beverages, healthcare, cosmetics & toiletries, automotive, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing demand for bottled water has empowered the growth of futuristic innovations.

Caps and closures are suitable for various requirements of huge range of containers and products. they fit a special type of containers, bottle, or jack neck. In beverage category bottled water is one of major in terms of sales. Change in lifestyle and rise in the income levels of consumers has surged the demand for bottled waters attributing the demand for caps & closures market. Bottled water manufacturers are launching the premium bottled water products with attractive capping solutions. Rising tourism industry has further surged the demand for bottled water. These factors are had surged the demand for caps & closures market.

Rising adoption in various industries is one of the major factors accelerating the market growth.

The industries for caps & closure are food and beverages, healthcare, cosmetics & toiletries, automotive, and others. Within these industries, food and beverages industry is one such industry, wherein the use of caps & closures is increasing owing to rising consumption of packaged products, ready to eat meats and on-to-go snacks. Additionally, the emergence of functional beverages including probiotic beverages, energy & sport drinks, meal replacers, and fruit & vegetable-based beverages has attributed the growth of caps & closures market. The healthcare, cosmetics & toiletries, and automotive industry has also witnessed an extensive use of caps & closure owing to its rising demand for sustainable packaging solution.

Recent strategic developments in caps & closures market

The caps & closures market has undergone several significant developments, and a few of these have been mentioned below:

• In June 2020, Silgan Holdings acquired Albea, a dispensing business of the packaging company.  This acquisition is aimed to expand its business in North America, Europe, South America and Asia pacific.

The caps & closures market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Amcor plc, Ball Corp., Crown, Closure Systems International, and Sonoco are among the prominent players operating in the market.

Target audience for the report:

• Raw material providers
• Caps & closures related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• Application industry of caps & closures industry
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Material:
  • Plastic
  • Metal
  • Others 
• Product:              
  • Dispensing Caps
  • Screw Caps
  • Crown Closures
  • Aerosol Closures
  • Others
• Application:
  • Food and Beverages
  • Healthcare
  • Cosmetics & Toiletries
  • Automotive
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Amcor plc
  • Ball Corp.
  • Crown
  • Closure Systems International
  • Sonoco