Caps And Closures Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Caps, Closures, Corks, Stoppers, Cans, Others), By Raw Material (Plastic, Metal, Others), By Application (Food, Beverages, Cosmetics, Pharmaceuticals, Others), And By Geography - Forecasts From 2022 To 2027

The global caps and closures market is projected to grow at a CAGR of 4.73% to reach US$72.701 billion by 2027, from US$52.609 billion in 2020.

The global caps and closures market derives its demand from other industries such as food and beverage and pharmaceuticals, among others. These industries integrate caps or closures into their own products to avoid contamination and to extend the shelf life of the main product.

The increase in demand for food, alcoholic or non-alcoholic drinks, pharmaceuticals, and cosmetics coupled with rising incomes and growing health awareness would make this market witness an uptick throughout the forecast period The most commonly used raw material is plastic because it is durable and can be molded into the desired shape. Extensive research and development in developing eco-friendly caps and closures might drive the market’s growth in the long run as plastic is being targeted for infiltrating products with toxic substances. Besides the quality of raw material, the easy-to-handle characteristic is also given importance as it can be a distinguishing feature of the products for customers. Pharmaceutical companies are infusing smart features into their covers to transfer relevant information to consumers.

The global caps and closure industry is growing due to increased reliance on packaged beverages.

The changing lifestyles of people are increasing the sales of closed beverages like energy drinks and alcoholic drinks. The rising working-class population is escalating the demand for on-the-go food products and drinks. This is augmenting the demand for packaged food items and, indirectly, that of the caps and closures market. Caps and closures of alcoholic drinks are a dynamic segment wherein a variety of caps have been invented for different kinds of wines and for the wines to be kept for a different duration. Eco-friendly caps and closures made of wood and paper board are expected to bring radical change and growth to this market.

The global caps and closure market also faces some challenges in terms of the cost of raw materials. The prices of polypropylene, polycarbonate, and aluminum, among others, fluctuate and hamper the seamless growth of this market as output gets affected by costs. Also, flexible packaging solutions act as a substitute for caps and covers, and with growing improvements in this kind of packaging, the market for caps and closures is adversely affected. Many companies are indulging in mergers and acquisitions in this sector to achieve a greater share of this fragmented market. In 2019, Berry Global Group acquired RPC group, which is a plastic product design and engineering company. AR Packaging Group acquired a subsidiary of Nampak Limited in 2019 to establish its existence in Africa.

Geographically, the European region is expected to hold a significant share in the production of caps and closures due to the presence of a large number of companies in that region.

The European region is anticipated to fuel the demand for caps and closures with burgeoning pharmaceutical companies due to rising health issues. The growing popularity of bottled water across the country can drive the demand for more caps to be manufactured. Asia-Pacific region is estimated to grow at a substantial rate throughout the forecast period, largely due to the rising incomes of the people, who in turn are demanding more packaged goods. The booming E-commerce industry in developing countries, such as India, is driving the sales of packaged products through the internet.

Key Developments

• In November 2021, Amcor launched IMPRESSIONS with MGJ, a global specialist in PE-PP foamed-based liners and sealing solutions for caps. IMPRESSIONS, is a custom printed liner technology that enables the brands to customize the closure liners. The new yet simple addition of printing under the bottle cap enhances the customer experience and also brings the brand-customer relationship to a new level.
• In January 2022, Aptar Food + Beverage announced a new 2” Ultra XLV (Extra Large Value) closure product line with SimpliSqueeze® technology. The new 2” Ultra XLV is compatible with a rigid bottle or it can be paired with an inverted flexible pouch, claims the company. These newly launched closures can ensure a clean, controlled, convenient dispense. 
• BERICAP acquired the aluminum closure expert Mala Verschluss-Systeme GmbH in June 2021. The acquisition allowed BERICAP to add and present a new aluminum range for the first time in its product portfolio. BERICAP presented the new aluminum-based sustainable closure at ‘FACHPACK 2021, in September 2021.

COVID-19 Impact on Caps And Closures Market

The pandemic had a negligible impact on the caps and closure market owing to the safety measures and rising awareness regarding consuming packaged food offsetting the supply chain issues. The concerns regarding the hygiene of the unpacked food and beverages propelled the market for caps and closures during a pandemic. Additionally, the guidelines from governments across the world pressed on 'food and beverages’ hygiene and safety aided the overall rise in the demand for packed food and beverages, further fueling the growth of caps and closure market amid the pandemic.

Caps And Closures Market Scope:

Segmentation:

• By Type
  • Caps
  • Closures
  • Corks
  • Stoppers
  • Cans
  • Others
• By Raw Material
  • Plastic
  • Metal
  • Others
• By Application
  • Food
  • Beverages
  • Cosmetics
  • Pharmaceuticals
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Others