Global Caps and Closure Market Research Report, 2024-29

In a time when innovation in packaging assumes the dual role of brand identity and environmental responsibility, the global caps and closures market is one of the most vibrant frontiers for creativity and sustainability. This varies from the iconic twist-off cap to state-of-the-art intelligent closures, tracing in its wake the changeable beats of consumer trends and technology leaps. The global caps and closures market has been radically transformed through the course of the last century. The industry has had to shift from being dominated by metal caps and glass jars to one that became very influential with the entry of plastics materials during the mid-20th century. Better still, it was driven by new technology associated with polymers and their processing techniques, injection molding. With time, plastic closures become very predominant due to the traits of ease of use and the possibility of introducing innovative features. During the second half of the 20th and early 21st centuries, further development was really powered by increased technological developments and attention paid to issues of sustainability. By and large, progress within the caps and closures market reflects some wider trends in both packaging technology and consumer requirements. The 1960s and 1970s were the heyday for the use of plastic closures because of their versatility of design, durability, and, of course, price factors against metal alternatives. The development of materials and manufacturing technologies made it possible to make closures with special features like tamper evidence and child resistance. The trend, over the several past decades, has been toward smart technologies and sustainability. In this sense, smart packaging innovations, eco-friendly materials, and customized design have become central to meeting modern consumers' expectations and mitigating ecological concerns. Today, technologies and shifting consumer preferences go with caps and closures. Modern consumers are evermore demanding convenience, safety, and sustainability from packaging; therefore, the closures with easy-dispensing mechanisms, designs that provide tamper evidence, and environmentally friendly materials are pervasive nowadays. Technology is being brought to the product or included in packaging, for example, smart packaging by using QR codes and RFID tags, to assist with product functionality as well as consumer engagement. Other than that, the industry is responding to regulatory pressures or sustainability trends by developing closures from recycled and biodegradable materials, thus fitting within the broader set of environmental goals. According to the research report, “Global Caps and Closures Market Research Report, 2029” published by Actual Market Research, the market is anticipated to cross USD 102 Billion by 2029, increasing from USD 72 Billion in 2023. The market is expected to grow with a 5% CAGR from 2024 to 2029. Smart packaging solutions are being enabled with technologies such as quick response codes and radio-frequency identification tags for greater functionality, which enhances consumer engagement. Sustainability is among the hotspot concerns with businesses, which are developing closures from recycled and biodegradable materials to counter harm to the environment. Customization is another trend with extensive openings where manufacturers provide designs and features across a range of specific industry and consumer needs. The rise of e-commerce calls for closures that ensure the integrity of their products during shipment, hereby driving packaging design and functionality. In response to the growing environmental awareness and regulatory pressures, sustainability has been the core theme in the global caps and closures market today. Companies will give increased focus to developing eco-friendly closures that shall be processed from recycled, recyclable, or biodegradable materials. The transition is motivated by consumers' desire for environmentally friendly products and the pressure for compliance with strict environmental standards. Current eco-friendly materials such as bio-plastics and innovative with recycling production methods are hence helping to reduce the environmental footprint of packaging. Various government initiatives around the world have been working to support the progress of the caps and closures market .For instance, the Circular Economy Action Plan supports recycling and easy to recycle products, including packaging in the EU. The efforts of the U.S. Environmental Protection Agency are oriented toward reducing plastic wastes and enhancing recycling. China's Plastic Pollution Control Action Plan involves reduction in plastic use. In India, the Plastic Waste Management Rules set up a framework which would foster recycling-based practices. This builds the driving force for the adoption of green materials and innovations in packaging technologies across various regions.

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Market Drivers • Rising Demand for Convenience and Packaged Products: The global shift towards on-the-go lifestyles and the increasing consumption of packaged food and beverages are primary drivers for the caps and closures market. Consumers prefer products that offer convenience, longer shelf life, and ease of use, which drives demand for innovative closure solutions. This trend is evident in the rising popularity of single-serve packs, ready-to-eat meals, and bottled beverages across various regions. • Advancements in Packaging Technologies: Technological advancements are significantly influencing the caps and closures market. Innovations such as smart closures, tamper-evident features, and interactive packaging are enhancing consumer safety and product integrity. These advancements not only improve user experience but address regulatory requirements and environmental concerns. The integration of technology into closures, such as QR codes and NFC chips, is driving growth by offering additional functionality and engagement opportunities. Market Challenges • Regulatory and Environmental Compliance: The caps and closures market faces challenges related to stringent regulatory requirements and increasing environmental concerns. Governments worldwide are implementing regulations to reduce plastic waste and promote recycling. Compliance with these regulations necessitates significant investment in sustainable materials and processes, which can be costly for manufacturers. Additionally, the shift towards more eco-friendly packaging solutions requires innovation and adaptation to new materials and technologies. • Fluctuating Raw Material Costs: The volatility in raw material prices, particularly for plastics and metals, poses a significant challenge for the caps and closures market. Prices for materials such as polypropylene, polyethylene, and aluminum can fluctuate due to changes in global supply and demand, geopolitical factors, and economic conditions. These fluctuations impact production costs and can affect profit margins for manufacturers. Managing these cost variations while maintaining competitive pricing and product quality is a key challenge. Market Trends • Sustainability and Eco-Friendly Solution: There is a growing trend towards sustainability in the caps and closures market. Consumers and businesses are increasingly prioritizing eco-friendly packaging solutions that reduce environmental impact. This trend includes the use of recyclable, biodegradable, and compostable materials for closures. Companies are exploring alternative materials such as plant-based plastics and reducing the overall plastic content in packaging. This shift is driven by consumer demand, regulatory pressures, and corporate sustainability goals. • Customization and Personalization: Customization and personalization of caps and closures are becoming prominent trends. Brands are seeking to differentiate their products through unique closure designs, colors, and features that enhance the user experience and reflect brand identity. Personalization extends to creating closures that cater to specific consumer needs, such as child-resistant caps, easy-open designs for elderly users, and closures that enhance product freshness. This trend is driven by the desire for brand differentiation and improving customer engagement. The growth of metals in the caps and closures market is their premium quality, excellent barrier properties, and recyclability, which help fulfill the growing demand for sustainable, high-value, and safe packaging solutions. Metal caps and closures can be associated with quality products by providing smooth, tactile appeal, and robust feelings. It is this notion of quality that makes such items very endearing to brands seeking to differentiate their products in highly competitive markets. Aluminum is the most used metal for caps and closures, and it provides a very malleable surface on which embossing or debossing can be done with intricate designs and branding elements to create shelf appeal. Metal caps and closures provide excellent barrier properties for enhanced protection of the product and improved shelf life. Aluminum offers high resistance to oxygen, light, and moisture and is therefore predominantly used for packaging oxygen-sensitive products such as beer or light-sensitive products like some pharmaceuticals. Closures made of metal ensure great sealing performance and tamper evidence. It proves product integrity and consumer safety, which becomes very important in markets that are subject to the toughest regulations concerning safety and quality standards. Aluminum is endlessly recyclable without loss of quality, making it a very sustainable packaging material. In the backdrop of rising environmental concerns and waning landfills, demand for recyclable packaging solutions is gaining traction. For metal caps and closures, which are recoverable, recyclable, and remanufacturable into new products, circular economy principles are ideally matched. The innovations in metal packaging enlarge the scopes of application for metal caps and closures. For example, new aluminum closures that are easier to use and more convenient, with easy-open and reclosable systems, enhance their consumer appeal. In addition, new types of manufacturing technologies make it possible to produce lighter-weight metal closures with reduced material usage and associated costs.

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Kripa Shah

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The growth driver of cosmetics and toiletries in the global caps and closures market has been on the focus of the industry towards product differentiation, user experience enhancement, and sustainability, which is being driven by evolving consumer preferences and competitive market dynamics. As consumers become more discerning and demand higher quality products, packaging, including caps and closures, has emerged as a critical differentiator in a crowded marketplace. The industry has responded to this with massive investment in innovative closure solutions that have focused on protection and preservation while improving the appeal and functionality of the product. With the rising demand for premium and luxury cosmetics, for instance, highly evolved closures which elicit an idea of elegance and exclusivity have come to the fore; materials used would be metal or high grade plastics with special finishes. These closures work on two levels are functionality and greatly to brand identity and perceived value. Another important trend in beauty products that is creating more demand for caps and closures is increasing personalization. The impetus to more sustainable practices in the industry has been very important in driving innovation in caps and closures. Most cosmetic and toiletry companies are now engaging in the development of eco-friendly packaging solutions as consumers become more sensitive to environmental issues. This has led to new developments for closures made from recycled or biodegradable materials and those that are easily recyclable or reusable. Some companies consider refill packaging concepts whereby closures would be designed for several uses, being made from more durable, higher quality materials to reduce plastic waste in its entirety. The clean beauty and natural product formulations have fueled the demand for closures that can correctly protect often more sensitive formulations from contamination and oxidation, extending shelf life without the use of synthetic preservatives. Another driving force behind change in the caps and closures market is the globalization of large beauty trends, accelerated by the growth of social media and e-commerce. Now, brands must be able to create packaging that pops at the actual store shelves but looks good in the digital formats, like e-commerce, and can survive the shipping. Improvements in tamper-evident and leak-proof closures are among the many others in meeting the product integrity challenge during shipment. In increasing numbers, convenience-oriented and on-the-go lifestyles have been feeding into the demand for easy closures; many of them flip-top cap, pump dispenser, and airless systems provide dosed and hygienic product application. The aging population in most markets ishaving an impact on closure design, with a higher number of easy-opening but securely closed packages needed by consumers who have restricted dexterity. Growth in the easy-open can end segment in the global caps and closures market is largely driven by consumer demand for convenience and ease of access in packaging solutions. Easy-open can end design answers these requirements, providing a very simplified and intuitive mechanism by which consumers can quickly access the contents of a can, thus improving the general user experience. This convenience is remarkably appealing to a wide demographic base comprising children, the elderly, and disabled persons who often find opening conventional cans difficult. Urbanization and increasing populations in developing markets are observed, thus increasing the demand for easy-open can ends. As more consumers move to the cities, there is a growing preference for packaged foods and beverages that are convenient to use. Easy-open can ends help to serve this demographic by giving them a hassle-free solution for fitting their busy lifestyles. This demand has further been fueled by growth in the e-commerce sector, as consumers are more likely to buy packaged goods online, where convenience through easy-open features can affect buying decisions Another critical factor driving the growth of the easy-open can end segment is sustainability. With an enhanced awareness level toward the environment, consumers are more likely to reach out and use solutions in packaging that would lessen the amount of waste produced and would promote recyclability. The ease that an easy-open can end offers extends to the benefits of improved technology in terms of packaging design and manufacturing. Improved seals, lightweight materials, and other functionality drivers make the easy-open can end more attractive for manufacturers and consumers. As companies continue investing in research and development to create more efficient and effective packaging solutions, it will boost growth in the easy-open can end segment. APAC's growth in the global caps and closures market due to increasing urbanization and growth in the consumption of packaged and on-the-go food and beverage products.

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The increased demand from the packaged food and bottled beverages industries in the region, especially in countries like China and India. With increasing urbanization in the APAC region and changing consumer lifestyles, the food and beverage industry has been booming. This translates to the fact that with more populations shifting to towns and cities to live busy lives, the need for convenient and on-the-go food and beverage products keeps rising. This has increased demand for caps and closures, which are needed to provide easy opening and closing of packaging, extend the life of the products, and prevent contamination and dirt. Some of the world's leading manufacturers for caps and closures are located in the APAC region are RPC Group PLC, Crown Holdings Incorporation, Amcor Limited Plc, and others. Manufacturers are investing significantly in research and development to introduce caps and closures that are innovative and sustainable, best meeting the changing needs of consumers and the food and beverage industry. Another factor that augments the caps and closures market in APAC is the growing demand for eco-friendly and sustainable solutions in packaging. With rising concerns to environmental hazards and the corresponding increase in demand for green and sustainable packaging solutions, APAC manufacturers are indulging in eco-friendly materials and designs to fall in line with consumer trends. For example, the bio-degradable caps and closures are prepared with materials that naturally degrade in the environment. • July 2022 - Guala Closures, a global leading producer of closures for spirits, wines, beverages and oil bottles acquired Labrenta. The acquisition took place to strengthen Guala Closure's presence in the luxury segment. • March 2023 - UNITED CAPS Launched 23 H-PAK, a new cap for carton packaging. The company's latest innovation 23 H-PAK is tethered to outstanding value and performance instead of expensive line changes. • February 2023 - Berry Global launched fully accredited child-resistant PET bottle combination for the pharmaceutical syrup market. The new Berry Healthcare bundle features seven ranges of 28mm neck PET bottles in sizes from 20ml to 1,000ml and a variety of designs, with eight accompanying closures that incorporate tamper-evident and child-resistant features. • January 2023 - Aptar Pharma, part of AptarGroup, Inc., launched APF Futurity™, its first metal-free and highly recyclable, multidose nasal spray pump developed to deliver nasal saline and other comparable over-the-counter (OTC) formulations. • October 2021 - Silgan Holdings has acquired Easytech Closures S.p.A. which manufactures and sells easy-open and sanitary metal ends used with metal containers primarily for food applications in Europe. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Caps and Closure market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Raw Material • Plastic • Metals • Others (Glass, wood, Rubber & Elastomers and paperboads) By End user Industries • Food & beverages • Cosmetics and Toiletries • Pharmaceutical & health care • Others (chemical and automotive) By Types • Screw Closures • Easy-Open Can End • Metal Lug Closures • Dispensing Caps • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Caps and Closure industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.