Rising Demand for Child Resistant Closures Due to Growth in Pharmaceutical Industry
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, the average market growth of 5.0% for the top 5 European Union markets. 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 worldwide. Further, 74% of all medication poisonings in the UK are unintentional. Most of these high percentages of medication poisonings can be avoided with suitable packaging materials. Thus, the growing need for medicines across the region and the need to prevent acute poisoning is boosting the demand for child resistant closures.
Market Overview
The child resistant closures market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe. Child-resistant closures are frequently used in many cosmetic and personal care products, which can be harmful when consumed unintentionally. Europe has a well-established personal care industry and is the largest market for cosmetics and other personal care products worldwide. The European Union's (EU) stringent regulations, implementing child resistant packaging for chemicals, cosmetics, and pharmaceutical products, have impacted the market in the region positively. Moreover, numerous pharmaceutical manufacturing companies in the region increasingly adopt child-proof closures for their products, which is expected to boost the market growth. The rise in concerns about child safety and the risk of children ingesting harmful chemicals and drugs among the population, are the major factors driving the growth of the Europe child resistant closures market. According to the NCBI, in the European Union (EU), poisoning is the fifth leading cause of unintentional death among children and adolescents. Research from the European Child Safety Alliance estimates that 3,000 children under the age of 14 die from acute poisoning every year. This has sparked increased efforts to improve parental education in ‘child-proofing’ homes, and patients and stakeholders are calling on end-use industries to recognize the importance of child resistant closures (CRCs). Thus, such government regulations about child resistant packaging in the region are further expected to drive the Europe child resistant closures market during the forecast period.
Europe Child Resistant Closures Market Revenue and Forecast to 2028 (US$ Million)
Europe Child Resistant Closures Market Segmentation
The Europe child resistant closures market is segmented into material, closure type, end user, and country.
Based on material, the market is segmented into polypropylene, polyethylene, metal, and others. The polypropylene segment registered the largest market share in 2022. Based on closure type, the market is categorized into push and turn, squeeze and turn, and others. The push and turn segment held the largest market share in 2022. Based on end user, the Europe 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 the largest market share in 2022. Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. Germany dominated the market share in 2022. 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 are the leading companies operating in the child resistant closures market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 455.21 Million |
| Market Size by 2028 | US$ 626.13 Million |
| CAGR (2022 - 2028) | 5.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Material
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Child Resistant Closures Market is valued at US$ 455.21 Million in 2022, it is projected to reach US$ 626.13 Million by 2028.
As per our report Europe Child Resistant Closures Market, the market size is valued at US$ 455.21 Million in 2022, projecting it to reach US$ 626.13 Million by 2028. This translates to a CAGR of approximately 5.5% during the forecast period.
The Europe Child Resistant Closures Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Child Resistant Closures Market report:
The Europe Child Resistant Closures Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Child Resistant Closures Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Child Resistant Closures Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+1 646 791 7070
sales@businessmarketinsights.com
Get Free Sample For Europe Child Resistant Closures Market
