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Caps and Closures Market Analysis

Report ID: GMI6399
Published Date: Aug 2023
Report Format: PDF

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Caps and Closures Market Analysis

Caps and Closure Market Size, By Material Type

Based on product, the caps and closures market is segmented as plastic, metal, rubber, cork, glass, others. Plastic held a majority industry value of USD 17.3 billion in 2022. Plastic is a widely used material for caps and closures due to its cost-effectiveness, making it a popular choice for mass-produced products. Plastic closures can be designed in various shapes and sizes, providing manufacturers with flexibility in creating customized solutions. Plastic caps and closures are lightweight, which reduces transportation costs and supports sustainability efforts by lowering carbon footprints.

Caps and Closures Market Revenue Share (%), By Technology,

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Based on technology, the caps and closures market is segmented as compression molding, injection molding, thermoforming, blow molding, others. Compression molding held a dominant industry share of around 40% in 2022. Compression molding is a cost-effective manufacturing method for producing high volumes of caps and closures. It offers economies of scale, making it suitable for mass production, where large quantities of identical closures are required.

Based on closure size the caps and closures market is segmented as Less than 25mm, 25mm to 49mm, 50mm to 69mm, 70mm to 99mm, 100mm and above. Less than 25mm segment is anticipated to grow at 4.7 % CAGR by 2032. Small closures are commonly used for single-serve and portion-control packaging, particularly in the beverage and condiment industries. Small closures are favored for on-the-go products, such as travel-sized personal care items and snack packs.

Based on Product Type the caps and closures market is segmented as Screw Caps, Snap-on Caps, Dispensing Caps, Child-resistant Caps, Tamper-evident Caps, Flip-top Caps, Sports Caps, Pump Caps, Spray Caps, Cork Closures, ROPP Caps (Roll-On Pilfer-Proof), Crown Caps, Others. Screw caps are widely used across various industries, including beverages, food, and personal care, due to their versatility and ease of use.

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U.S. dominated the North American region with majority caps and closures market share and a revenue of USD 15.4 billion in 2022.The increasing demand for convenience and ready-to-eat products in North America drives the need for caps and closures for various food and beverage containers, including bottles, jars, and pouches.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global market size for caps and closures was USD 68 billion in 2022 and is estimated to record USD 119.4 billion by the end of 2032 impelled by population growth, urbanization, and e-commerce expansion.

The plastic product segment reached USD 17.3 billion in 2022 owing to their ability to limit the transportation costs and support the sustainability efforts by lowering carbon footprints.

Less than 25mm caps and closures industry size is poised to depict 4.7% CAGR from 2023-2032 due to the rising preference for on-the-go products, such as travel-sized personal care items and snack packs.

U.S. industry size was USD 15.4 billion in 2022 and is anticipated witness significant pace from 2023-2032 due to the increasing demand for convenience and ready-to-eat products in the region.