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Caps and Closures Market Trends

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

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Caps and Closures Market Trends

There was a growing emphasis on sustainability in the packaging industry, including caps and closures. Manufacturers were increasingly adopting eco-friendly materials, such as bioplastics and recyclable resins, to reduce the environmental impact of packaging. Smart packaging solutions were gaining traction, with the integration of technology in closures. Features like tamper-evidence indicators, time-temperature indicators, and NFC-enabled closures offered additional functionality and improved product safety.

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.