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Caps and Closures Market Size

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

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Caps and Closures Market Size

Caps And Closures Market size was valued at around USD 68 billion in 2022 and is estimated to reach USD 119.4 billion till 2032 driven by factors like population growth, urbanization, and e-commerce expansion, directly impacts the demand for caps and closures used in packaging containers.

Caps And Closures Market

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Packaging is a critical element of brand differentiation. Unique and innovative caps and closures can help brands stand out on the retail shelves and attract consumers' attention. Caps and closures play a vital role in providing ease of use and convenience for consumers. Features such as flip-top caps, screw caps, and dispensing closures enhance product accessibility and usability.

Caps and Closures Market Report Attributes
Report Attribute	Details
Base Year:	2018
Caps and Closures Market Size in 2018:	USD 68. Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 119.4 Billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	246
Segments covered:	Material Type, Technology, Closure Size, Product Type, Region
Growth Drivers:	Development of the packaging industry Increasing industrial activities Growing population and rapid urbanisation
Pitfalls & Challenges:	Cost pressures Regulatory Compliance Counterfeiting and Product Safety

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Caps and closures manufacturers often face cost pressures due to fluctuations in raw material prices and the need to invest in research and development for innovative and sustainable packaging solutions. Counterfeit caps and closures pose a significant risk to product safety and brand reputation. Caps and closures must be compatible with a wide range of packaging materials, including glass, plastic, and metal containers.

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.