Plastic Caps Closures Market Analysis

Plastic Caps and Closures Market Overview

Plastic Caps and Closures Market Size was valued at USD 49.40 billion in 2023. The Plastic Caps and Closures industry is projected to grow from USD 52.06 billion in 2024 to USD 84.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.3% during the forecast period (2024–2032). Plastic is the largest raw material segment of the caps & closures market and across the packaging industry. The manufacturing industries and factories are intensively investing in the plastic caps and closures industry as the demand for a longer life expectancy and economical option is highly preferred. Although there are several materials in the caps and closures such as glass, rubber, metal, elastomers, and so on, the demand for the plastic caps and closures are significantly rising owing to their flexibility in the manufacturing sector and their adaptive nature according to the demand of the varied end-user industries.

Some of the potential benefits of the plastic caps and closures over other materials such as cost-effectiveness, lower weight impact, and compatibility with several materials make them suitable for a wide range of end-user industries such as food, beverage, healthcare, personal care, industrial, and home care industries. Among other potential industries, beverages are expected to dominate the market share as the plastic caps and closures are intensively utilized by almost every leading beverage industry. The plastic caps and closures are efficient in retaining the taste and texture of these beverages which is considered as the major driver of plastic caps and closures market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

COVID 19 Analysis

The COVID 19 pandemic has created a huge economic shock in several industrial verticals. The supply and demand disruption and other factors have reduced the production rate and other key business operations. However, the demand for the food and beverage industry and the pharmaceutical industry were rapidly increasing during the pandemic, which has stimulated the plastic caps and closures market growth. The processed and fresh food were packed inefficient packaging with the plastic caps and closures, the beverages of both non-alcoholic and alcoholic were also utilizing the plastic caps and closures intensively. Such factors have fuelled the overall growth of plastic caps and closures during the pandemic.

In May 2024, Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon-negative materials company with a mission to enable the world’s transition to sustainable materials, today announced its first product offering from a recent breakthrough in the manufacturing of all-PET caps and closures. The first product is the lightest CSD (carbonated soft drink) cap in the world, and it is PCO 1881 neck finish compatible, made possible through commercial production of 100% PET with virgin or rPET. Origin’s 1881 closure is lightweight and offers superior performance. Origin’s design requires less plastic than conventional cap materials such as HDPE (high-density polyethylene) and PP (polypropylene) because PET has better mechanical properties. Among other things, this enables Origin to provide tamper evidence that feels good and makes a nice click sound when withdrawing it.

Hoffer and Mespack also came up with spout and cap closure in January 2023. Monolayer material was used to make the new closure, which requires 20% less plastic for manufacture.

Silgan Plastics, one of the leading suppliers of sustainable rigid packaging solutions, acquired Gateway Plastics in September 2021. Gateway Plastics produces dispensing closures products which are integrated with the food and beverage industry dispensing packages. The aim of this procurement is to enable Silgan Plastics to widen its range of comprehensive products in dispensing as well as specialty closures.

Plastic Caps and Closures Market Dynamics

Market drivers

The demand for convenient packaging and enhanced functionality or user-friendly packages and bottles are considered as the major driver of plastic caps and closures market growth. Moreover, the demand for better product safety and secure sealing are also propelling the plastic caps and closures market growth. 

The increasing demand for cosmetics and makeup across the developed region which utilizes the pump closures and dispensing closures are the major market drivers of the plastic caps and closures industry. The demand for cosmetics, skincare, beverages, and healthcare are some of the rapidly rising with the favorable economic condition of the end-consumers. Such factors are increasing the overall growth of the plastic caps and closures industry. 

Market opportunities

The developing economic condition of the countries such as China, India, Brazil is witnessing higher demand for plastic caps and closures owing to the inclination towards a sophisticated lifestyle of the consumers and their preferences for convenience and hygiene.

The increasing demand for the pharmaceutical industry owing to the increasing incidences of chronic illness and the development in the healthcare industry are presenting lucrative opportunities for the overall growth of the plastic caps and closures industry. The drugs and medicines get contaminated readily and could lead to huge losses. Such factors are expected to propel the overall growth of the plastic caps and closures industry. Moreover, the advent of well-engineering caps and closures such as plastic screw closures are considered as cost-effective and are effective in sealing while they also comply with the regulations imposed by the government organizations. 

Market restraints

The plastic caps and closures are considered to be a major negative factor for environmental welfare. The marine ecosystem and the environmental instability are caused due to plastic closures and caps. Therefore the manufacturers are stumbling in handling the regulations imposed upon them.

The demand for the pouches and alternative options that are considered to be more suitable for the applications are expected to hinder the plastic caps and closures market demand. These pouches and blister packages significantly reduce the manufacturing costs of the plastic caps and closures while providing efficient packaging are considered as the major restraint of plastic caps and closures market growth.

Market challenges

The changing preferences of the end-users and consumers are significantly affecting the plastic caps and closures market growth. The majority of consumers prefer fresh juices over bottled beverages and carbonated drinks. Therefore the slower sales performance of the soft drinks is significantly reducing the plastic caps and closures market value.

The stringent regulations imposed by the government of the developed countries, which is primarily due to the material used are expected to hinder the plastic caps and closures market growth during the forecast period.

Cumulative growth analysis

The market value of the plastic caps and closures industry was at USD 49.40 billion in the year 2023 and it is expected to surpass the market value of over USD 84.87 billion by the year 2032 while registering a CAGR of 6.3% during the forecast period. The growth estimate is done because of the increasing demand for bottled water and the convenience that it offers. On the other hand, the factors such as product safety measures, product differentiation, and branding, and ergonomic package sizes are impacting the overall growth of the plastic caps and closures industry in recent years. Similarly, the changing lifestyle of a huge population across the globe, especially across the developed regions is impacting the plastic caps and closures market growth. The busy lifestyle has increased the overall demand for packaged food and beverages. 

The advent of fast food and evolving food industry has brought in the requirement of efficient storage for condiments and sauces and other essential food options. For instance, the demand for bottled water, carbonated drinks, and sauces such as mayo, ketchup, and other condiments are stored and shipped in convenient packaging that utilizes plastic caps and closures.

Plastic Caps and Closures Market Value chain analysis

The manufacturers of plastic cps and closures are developing efficient packaging solutions to improve business processes. The tamper-evident plastic caps and closures are gaining momentum in recent years as they are efficient during traveling and they are considered to most efficient and consume lesser manufacturing time and require minimal manufacturing costs. The demand for plastic containers is rising as they are comparatively economical and convenient such factors aid the overall growth of the plastic caps and closures industry as well.

Especially, PP plastics are gaining momentum across the industrial sectors as they offer higher resistance against harsh chemicals; they are utilized to store washing and cleaning chemicals. The anti-corrosive property and durability with minimal drawbacks propel the end-user industries such as manufacturers of cleaning powders and liquids and bleaches. On the other hand, the pharmaceutical industry seems to be more promising concerning the growth of plastic caps and the closures industry. The demand for pharmaceutical products and drugs is rapidly rising and the risk of them getting easily contaminated in the case of poor, inefficient packaging has presented lucrative opportunities for the overall growth of the plastic caps and closures industry.

Coca-Cola Great Britain together with Coca-Cola Europacific Partners (CCEP) have been extending the roll-out of their tethered caps to 500ml plastic bottles as part of a packaging development across its entire portfolio in September 2022. The company claims that this will improve recycling rates and reduce waste.

Plastic Caps and Closures Market Segment overview

Based on Type:

• 
  

  Screw Caps

  
  


• 
  

  Dispensing Caps

  
  


• 
  

  double-wall closures

  
  


• 
  

  twist-on closures

  
  


• 
  

  child-resistant closures

  
  


• 
  

  Others

  
  

Based on End-use Industry:

• 
  

  Food

  
  


• 
  

  Beverage

  
  


• 
  

  Healthcare

  
  


• 
  

  Cosmetics & toiletries

  
  


• 
  

  Automotive

  
  


• 
  

  Chemical

  
  

Based on container type:

• 
  

  Plastic

  
  


• 
  

  Glass 

  
  

Based on raw material:

• 
  

  PP

  
  


• 
  

  HDPE

  
  


• 
  

  LDPE

  
  


• 
  

  PET

  
  


• 
  

  PVC

  
  

Regional analysis

APAC is expected to hold the largest caps & closures market value during the forecast period, due to the factors such as improving the standard of living, increasing per capita income, hectic lifestyle of the consumers present in the region, and favorable economic growth across the region. Especially the countries such as Indonesia, Malaysia, and Singapore are presenting lucrative opportunities for the plastic caps and closures market growth during the forecast period. Also, the leading manufacturing facilities across the region, including China, which is the major manufacturing hub and supplies to major parts of the world are propelling the plastic caps and closures market growth in recent years. 

Similarly, North America and other parts of the U.S are also presenting healthy growth expectations in the plastic caps and closures industry, due to the economic condition and the inclination towards packaged food and beverages. 

Competitive Landscape

List of the key major companies in the Plastic Caps and Closures Market are

• 
  

  Coral Products (UK)

  
  


• 
  

  Silgan Holdings (US)

  
  


• 
  

  O.Berk Company, LLC (US)

  
  


• 
  

  Guala Closures (Italy)

  
  


• 
  

  United Caps (Luxembourg)

  
  


• 
  

  Caps & Closures Pty Ltd. (Australia)

  
  


• 
  

  Caprice Australia Pty Ltd. (Australia)

  
  


• 
  

  Pano Caps Limited (Canada)

  
  


• 
  

  Plastic Closures Ltd. (UK)

  
  


• 
  

  Cap & Seal Pvt. Ltd. (India)

  
  

Recent developments:

In January 2024, Savillex announced today the release of its new Purillex® brand PETG Square Media Bottle product line. Savillex launches its new Purillex® brand PETG Square Media Bottles product line. The Purillex® brand features new bottles made from PETG, which will replace their existing standard bottles. Purillex has just launched its new range of PETG media bottles with square shapes, which are available in sterilized and nonsterile forms for use in life sciences applications requiring critical packages. Purillex recently introduced a line of square-shaped media bottles made from PETG in both sterile and non-sterile versions intended for critical packaging applications used in life science. The four sizes provided are between 125 mL and 1000 mL, including sterile and non-sterile Purillex PETG Square Media Bottles. These models are injection stretch blow molded specifically to integrate into existing lines occupied by rival products, including other similar types.

In October 2022, Rieke launched a new two-piece child-resistant cap that meets the needs of older customers or aging consumers who wish to keep their medications safe from children's hands, but at the same time, it will be difficult for younger generations to open them easily without adult supervision. With this recent invention by Rieke, producers as well as marketers of pharmaceuticals and nutraceuticals can fulfill their sustainability objectives while protecting future generations from accidental exposure to harmful substances through Child Resistant Caps.

In June 2021, Bericap acquired Mala Verschluss-Systeme GmbH, one of the leading manufacturers of plastic closures. Mala is known for being an aluminum closure manufacturer. With the acquisition of Mala, BERICAP includes aluminum closures in its product portfolio and develops innovative closure technologies combining plastic and aluminum.

In March 2023, United Caps developed another closure that can be tethered on cartons. The solution is called the 23 H-PAK tethered. It is designed with an easy-to-use Tamper-Evident (TE) band that prevents all parts from being separated during fast recycling operations and is easy to integrate within existing systems.

Report Overview

This report has covered

• 
  

  Market overview

  
  


• 
  

  COVID 19 Analysis

  
  


• 
  

  Market dynamics

  
  


• 
  

  Cumulative growth analysis

  
  


• 
  

  Value chain analysis

  
  


• 
  

  Segment overview

  
  


• 
  

  Regional analysis

  
  


• 
  

  Competitive landscape

  
  


• 
  

  Recent developments

  
  

Segmentation Table

Based on Type

• 
  

  Screw Caps

  
  


• 
  

  Dispensing Caps

  
  


• 
  

  double-wall closures

  
  


• 
  

  twist-on closures

  
  


• 
  

  child-resistant closures

  
  


• 
  

  Others 

  
  

Based on End-use Industry

• 
  

  Food

  
  


• 
  

  Beverage

  
  


• 
  

  Healthcare

  
  


• 
  

  Cosmetics & toiletries

  
  


• 
  

  Automotive

  
  


• 
  

  Chemical

  
  

Based on container type

• 
  

  Plastic

  
  


• 
  

  Glass 

  
  

Based on raw material

• 
  

  PP

  
  


• 
  

  HDPE

  
  


• 
  

  LDPE

  
  


• 
  

  PET

  
  


• 
  

  PVC