Caps And Closures Market Is Set For Lucrative Growth To 2030

Caps And Closures Market Summary

The global caps and closures market size was estimated at USD 74.64 billion in 2023 and is projected to reach USD 103.87 billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030. The market is experiencing steady expansion due to the increasing demand for a wide variety of food products and both alcoholic and non-alcoholic beverages. As global consumption patterns evolve, consumers are seeking convenient, safe, and well-preserved packaged products, which continues to strengthen the need for efficient caps and closures solutions.

Caps and closures serve as essential components in packaging systems, acting as protective barriers that prevent the packaged contents from being exposed to air, dust, or other external contaminants. They also offer functional benefits such as enhanced product dispensing, improved shelf life, and better user convenience. Beyond the food and beverage sector, caps and closures are widely used in healthcare, personal care, home care, and automotive industries, where product safety and controlled dispensing are crucial. Additionally, rising consumer awareness about healthy eating and preventive health has increased the consumption of dietary supplements, further driving demand for reliable and high-quality packaging products.

Key Market Trends & Insights

• Asia Pacific dominated the global caps and closures market with the largest revenue share of over 41.7% in 2023, driven by rapid population growth, increased urbanization, expanding manufacturing capabilities, and rising consumption of packaged goods.
• Based on application, the beverages segment held the largest revenue share of over 27.0% in 2023, supported by expanding product lines within soft drinks, juices, bottled water, and alcoholic beverages that require secure and convenient sealing solutions.
• Based on material, the plastic segment led the market with the largest revenue share of over 54.0% in 2023, largely due to its durability, lightweight nature, cost-efficiency, and versatility across diverse packaging applications.
• Based on product, the screw closures segment led the market with the largest revenue share of over 32.0% in 2023, reflecting its wide adoption in food, beverage, pharmaceutical, and household products due to its ease of use and strong sealing performance.

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Market Size & Forecast

• 2023 Market Size: USD 74.64 Billion
• 2030 Projected Market Size: USD 103.87 Billion
• CAGR (2024-2030): 4.9%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

The market is characterized by the presence of multinational as well as regional players and several public-listed companies globally, making the market space highly competitive. Key players mainly cater to the demand from food, beverages, pharmaceutical, and beauty products industries.

Major players operating in the caps and closures industry are undertaking different strategies such as product launches, mergers, joint ventures, acquisitions, and geographical expansion. For instance, in February 2023, Berry Global Inc. introduced a comprehensive packaging solution specifically designed for pharmaceutical and herbal markets, targeting syrup and liquid medicines. This solution includes child-resistant and tamper-evident PET bottles and closures. The product range consists of seven different sizes, ranging from 20ml to one liter, all featuring a 28mm neck. Notably, certain bottles and closures within this range have undergone rigorous testing and certification processes, meeting child-resistant standards set by the EU's ISO8317 and US' 16CFR1700.20 regulations.

Key Players

• Crown
• Amcor plc
• Closure Systems International
• Ball Corporation
• Silgan Holdings Inc.
• Guala Closures S.p.A
• AptarGroup, Inc.
• BERICAP
• Nippon Closures Co., Ltd.
• Sonoco Products Company
• Webpac Ltd
• JELINEK CORK GROUP
• UAB Elmoris
• CL Smith
• PELLICONI & C. SPA
• BERK
• UNITED CAPS

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Conclusion

Overall, the caps and closures market is expected to experience continuous growth through 2030 as global demand for packaged products increases across food, beverages, healthcare, and personal care sectors. Rising consumer emphasis on product safety, quality, and convenience is encouraging brands to adopt more advanced and reliable packaging formats. With Asia Pacific leading in production and consumption, and other regions modernizing their packaging industries, the market will benefit from both established and emerging opportunities. As companies innovate in materials and design while addressing sustainability concerns, caps and closures will remain a vital component of global packaging solutions in the coming years.