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Caps And Closures Industry Overview

The global caps and closures market size is expected to surpass USD 143,699.6 million by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% over the forecast period. The market is projected to be driven by the growth in the food & beverage industry across the globe, contributing to an increased usage of packaging products.

Caps And Closures Market Segmentation

Grand View Research has segmented the global caps and closures market on the basis of material, product, application, and region:

Based on the Material Insights, the market is segmented into Plastic, Metal, Others.

• The plastic segment held the highest market share of over 54% in 2020, in terms of revenue, and is estimated to expand further at the fastest CAGR over the forecast period. Plastic material poses environmental concerns due to lower degradability as well as CO2 emissions taking place during its production.
• Metal, on the other hand, is more sustainable and durable as compared to plastic material and therefore gaining traction in the market. Metal closures are widely used for covering beverage glass bottles, metal cans of food products, as well as bottles of pharmaceuticals. In January 2017, Crown launched new metal closures, to be used for PET-based containers.
• Other materials, such as glass and wood, are gaining popularity as these materials offer robust sealing solutions as well as provide aesthetic appeal to the packaging. For instance, Vinolok, a.s. offers glass closures in classic, edge, and premium range with a wide variety of shapes and customization options. Therefore, glass and wooden corks or stoppers are used for wine bottles and for perfumery glass bottles that can retain the perfume fragrance for a longer time. 

Based on the Product Insights, the market is segmented into Dispensing Caps, Screw Closures, Crown Closures, Aerosol Closures, Others.

• The dispensing caps segment held the highest revenue share of over 34% in 2020 and will register the fastest CAGR during the forecast period. Dispensing caps of various types including pumps, triggers, and flip flops among others, are used in a majority of end-use industries, such as food, cosmetics, pharmaceutical, and automotive.
• Screw caps are the caps containing threading inside the cap that is necessary to seal the container closely. Metal screw caps are widely used for bottles of cough syrups, tonics, or tablets. These closures help prevent the medicines from moisture and contamination. BERICAP offers screw caps that are suitable for a tin plate container under automotive applications. These caps have a tear-off seal providing a tamper evidence solution.
• Crown closures are primarily made up of metal and have crown-like structures. Crown closures are predominantly used for glass bottles of beer, energy drinks, and soft drinks. As per data released by Kirin Holdings Company, Ltd., in 2018, the global consumption of beer was about 298.2 billion bottles with a 633 ml capacity. Thus, the rising consumption of beverages is expected to lead to increasing demand for packaging closures.

Based on the Application Insights, the market is segmented into Food, Beverages, Healthcare, Cosmetics & Toiletries, Automotive, Pharmaceutical, Others.

• The food segment held the highest revenue share of over 26% in 2020 and will retain the leading position throughout the forecast period. Rising consumption of packaged food products, Ready-To-Eat (RTE) meals, and on-the-go snacks is anticipated to drive the segment growth over the forecast period. The growing consumption of non-alcoholic beverages is also likely to support segment growth.
• In the pharmaceutical segment, caps & closures are used for sealing bottles and cans of drugs, supplements, saline bottles, and vaccine vials among others. The growing demand for senior-friendly as well as child-resistant closures that minimize the incidences of accidental ingestion of Over-The-Counter (OTC) medications by infants and children is expected to augment the demand for caps & closures in this segment over the forecast period.
• The cosmetics & toiletries segment is estimated to register the fastest CAGR of more than 5.5% during the forecast years. The growing usage of various cosmetics is expected to propel the demand for cosmetic packaging products. Lip care and nail care products are usually packaged in plastic closures as they offer low-cost solutions to cosmetics manufacturers.
• The automotive segment is also estimated to record significant growth over the forecast period. Motor oil and other car-care products require effective sealing options, such as screw cap closures with liner.
• Other applications include paints, home care products, and insect repellents. Home care products include laundry and dishwashing detergents, floor cleaners, surface cleaners, and toilet cleaners.

Caps And Closures Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

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

Some of the prominent players operating in the global caps and closures market include,

• Crown
• Amcor plc
• Closure Systems International
• Ball Corp.
• Silgan Holding, Inc.
• Berry Global, Inc.
• AptarGroup, Inc.
• BERICAP
• Nippon Closures Co. Ltd.
• Sonoco Products Company

Order a free sample PDF of the Caps And Closures Market Intelligence Study, published by Grand View Research.