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The increasing demand for caps and closure from the pharmaceutical industry is notably driving market growth analysis. The aging population and new product innovation by pharmaceutical manufacturers are driving the pharmaceutical industry. In addition, the rising health awareness is increasing the sales of over-the-counter (OTC) drugs. Manufacturers of OTC drugs are introducing specific medicines for treating minor ailments, which, in turn, is increasing their overall sales. The rise in sales is expected to increase the demand for caps and closures for pharmaceuticals.
New packaging technologies are being introduced globally due to the increasing need for convenient packaging among consumers. Innovative pharmaceutical packaging is easy to use, especially for the elderly population. In multi-dose packaging, a single container holds the prescribed medicines for multiple doses. Thus, the increasing demand for convenience in pharmaceutical packaging is expected to drive the growth of the global caps and closures market during the forecast period.
The emergence of sustainable packaging is a key trend shaping market research and growth. Environmental concerns about plastic packaging have led to an increase in the demand for sustainable packaging among pharmaceutical, food and beverage, and personal care product manufacturers. The plastic materials used in caps and closures are mainly derived from petroleum feedstock and have a harmful effect on the environment. Therefore, manufacturers of pharmaceuticals and food products and other end-users are adopting eco-friendly and recyclable caps and closures. For instance, in September 2020, Johnson & Johnson announced its sustainable goal to use 100% reusable, recyclable, and compostable packaging by 2025.
Vendors of plastic caps and closures are focusing on offering sustainable and recyclable packaging solutions due to the rising preference for eco-friendly packaging. Such initiatives are expected to fuel the demand for recyclable and sustainable packaging materials, including plastic, for the production of caps and closures. These factors will, in turn, drive the growth of the market during the market growth and forecasting period.
The competition from closure-less packaging is challenging market growth. Companies prefer closure-less packaging such as stand-up pouches and blister packs. However, this type of packaging may impede market growth in the long run. Various food and beverage products do not require closure. However, packaging solutions such as blister packs, stand-up pouches, aluminum cans, and pouch packaging have various advantages such as ease of use, storage, and flavor preservation.
A retort pouch is made up of multiple layers of laminates. It is specially designed without caps or closures. These pouches are used for sterile packaging of milk, juices, and convenience food products. They are compact, convenient to use, and lightweight and keep the contents fresh. For instance, Amcor offers retort pouches for food products such as ready meals, soups, pre-cooked rice, baby foods, and wet pet food. The launch of new innovative products, such as Tetrapak packages, will lower the demand for caps and closures during the forecast period. Thus, the presence of closure-less packaging will hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Closure Systems International Inc. - The company offers plastic caps and closures such as 38D-KF, 38D-KL, AM-Lok 28mm. It also offers capping machines, cap handling systems, headsets, chunks, and spare parts as well as technical services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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The food and beverages segment was valued at USD 31.53 billion in 2018. The growth of this segment is attributed to factors such as the rapid rise in the demand for health drinks, sports and energy drinks, juices, and alcoholic drinks. Consumers' preferences are shifting toward packaging solutions that are easily moldable and printable. The adoption of innovative packaging solutions is also driving the growth of this segment. Plastic-based caps and closures are widely used in beverage packaging, as they can be recycled and have stronger barrier properties. Moreover, the demand for plastic closures is expected to surge in the future owing to the rising consumption of convenience foods. These factors will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the market forecasting period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is APAC. Manufacturing activities in APAC, especially in India, China, Japan, Singapore, and Australia, have grown in the past decade. The food habits of consumers are changing with rapid urbanization. The trend of on-the-go food and beverage products has led to an increase in the demand for packaged food products. Therefore, plastic caps and closures are gaining traction in many food manufacturing facilities. During the forecast period, the development of advanced packaging solutions is expected to grow. More vendors are expected to enter the market to capitalize on this trend and develop custom-designed caps and closures at competitive prices. This, in turn, will drive the growth of the market during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market plays a crucial role in the beverage, personal care, and home care industries, ensuring product safety, functionality, and environmental welfare. FMCG companies rely on tamper-evident caps closures to maintain the integrity of bottled water, carbonated and non-carbonated beverages, including energy drinks and sports drinks. Packaging waste concerns drive innovation towards recyclable materials such as LDPE, HDPE, and PP plastics, offering enhanced functionality in dispensing mechanisms and pump closures. Stringent regulations guide the industry towards solutions with anti-corrosive properties for harsh chemicals in washing and cleaning applications. User-friendly packages cater to a sophisticated lifestyle, ensuring hygiene and preventing contamination, particularly in the makeup and healthcare sectors. As the food and beverage industry evolves, plastic screw closures and tamper-evident seals continue to meet the demands of a changing lifestyle and stringent safety standards.
Moreover, the beverage packaging sector, pivotal in the FMCG industry, employs a variety of materials such as thermoplastic, polypropylene (PP), and polyethylene (PE) to package carbonated and non-carbonated drinks, dairy products, and fresh juices. Tamper-evident plastic caps closures ensure product integrity and safety, meeting stringent standards for bottled water and beverages. FMCG companies prioritize sustainability, reducing packaging waste through innovations in recyclable plastics and paperboard. Well-engineered caps and closures, including heat induction cap liners and foam-lined polypropylene caps, cater to diverse industries like the personal care and home care sectors. In the evolving food industry, fast food and condiments benefit from user-friendly dispensing closures and pierceable shell designs. With a focus on hygiene and convenience amidst hectic lifestyles, the market adapts with anti-corrosive properties for washing chemicals and bleaches, enhancing the standard of living while safeguarding the marine ecosystem.
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Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
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Market growth 2024-2028 |
USD 11.99 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.18 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 38% |
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Key countries |
US, China, Germany, Russia, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Albea Services SAS, Amcor Plc, AptarGroup Inc., Berry Global Inc., Caprite Australia, Chemco Group, Closure Systems International Inc., Coral Products Plc, Crown Holdings Inc., Guala Closures SpA, HERTI JSC, HQC Inc., MJS Packaging, O.Berk Co. LLC, Pelliconi and C SpA, Premier Vinyl Solutions Ltd., Secure Industries Pvt. Ltd., Silgan Holdings Inc., TriMas Corp., and United States Plastic Corp. |
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Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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