Plastic Caps Market

Plastic Caps Market Growth Outlook (2023-2033)

The global plastic caps market stands at a valuation of US$ 41 billion in 2023 and is forecasted to expand at a CAGR of 4.6% to reach US$ 64.1 billion by the end of 2033.

Plastic caps and closures are safe and secure solutions for sealing a variety of bottles, tubes, containers, jars, etc. These are lightweight as compared to other alternatives, which makes them ideal for packaging a variety of carbonated & non-carbonated beverages and industrial goods.

Plastic caps and closures are predominantly used in industries such as food, beverages, pharmaceuticals, and cosmetics & personal care, among many others. A substantial share of the plastics caps & closures market is captured by the food and beverage sector. Manufacturers from these prominent end-use industries prefer to use plastic caps over other conventional packaging solutions as the former provides excellent flexibility and high strength.

• Rising demand for convenience packaging is driving the market for caps & closures.
• Asia Pacific and North America are anticipated to witness high plastic cap demand on the back of major end-use industries in these regions.
• Rising consumption of carbonated and non-carbonated drinks by the young population will drive plastic cap application.

Report Attributes	Details
Market Size (2022A)	US$ 39.3 Billion
Estimated Market Value (2023E)	US$ 41 Billion
Forecasted Market Value (2033F)	US$ 64.1 Billion
Global Market Growth Rate (2023-2033)	4.6% CAGR
North America Market Share (2023)	~25.2%
East Asia Market Growth Rate (2023-2033)	~5.8% CAGR
United States Market Growth Rate (2023-2033)	~4.1% CAGR
East Asia Market Share (2023)	~21.2%
Key Companies Profiled	Berry Global Inc. Amcor Plc Bericap GmbH and Co KG Silgan Plastics Aptar, Inc. Mold-Rite Plastics, LLC O. Berk Company UNITED CAPS Pano Cap Phoenix Closures, Inc. Hicap Closures Co., Ltd.

How is the Path of the Market for Plastic Caps Being Shaped?

“Rising Demand for Convenience Packaging & Small Bottles”

The modern consumer demands practical packaging with cutting-edge features including easier opening, headstand packs, flow control, and quick disposal. This high preference for convenience packaging products over conventional packaging products, especially from the younger generation, is fueling the demand for caps.

Rising usage of small-sized bottles due to the current trend of 'on-the-go and breakfast bottles' in the beverage industry is also contributing significantly to the caps market growth. Along with this, a significant portion of the consumer base are preferring such small bottles while visiting several venues, owing to their ease of handling.

Furthermore, the adoption of collapsible bottles has witnessed significant traction in the market in recent times. All these factors are likely to reinforce global caps market growth substantially.

“High Adoption of Lightweight Caps”

Prominent packaging manufacturers have shifted their focus to lightweight plastic caps, which reduce production costs and help manufacturers to achieve their sustainability targets. Most leading plastic cap manufacturers are spending a high amount of capital on research and development to design and manufacture stylish and lightweight plastic caps and closures.

• For instance, in March 2022, Berry Global, a packaging solution manufacturing company, launched its new lightweight closure with 20% lighter products than the previous version. These lightweight closures are specially designed for the food & beverage industry.

Furthermore, these lightweight plastic caps and closures offer some benefits over conventional caps and closures, such as better size control, shorter cycle time, and lower operating torque. End-use industries such as pharmaceuticals, personal care, food, and beverages have started to adopt lightweight plastic caps and closures to reduce the unnecessary production of plastic.

“Strict Regulations by Governments on Plastic Products”

Stringent rules and regulations associated with the grade of plastics used in end-use industries, especially in the manufacturing of various plastic caps and bottles, are one of the factors that hamper market growth. Various governments around the world have already introduced mandatory guidelines to maintain the optimum quality of plastics. This factor is likely to restrict the growth opportunities for manufacturers, especially for small-scale industrial manufacturers.

Also, there are lots of regulations restraining the growth of the caps market worldwide as local manufacturers are not able to compete in the market due to the high expenditure required on advanced machinery and innovation in the existing products to comply with existing rules and regulations. Also, to develop products that meet government regulations, manufacturers need heavy R&D activities, which are not affordable for small or new entrants in the market.

Market share analysis of plastic caps based on product type and region. Under the product type segment, screw-on caps dominate with 62.5% market share.

Country-wise Insights

Will the Huge Beauty & Personal Care Industry in the U.S. Drive Demand for Plastic Caps?

The United States plastic caps market is expected to register a CAGR of 4.1% over the 2023-2033 forecast period.

High awareness of skin safety in the population is a prominent factor that will impact the overall USA beauty & personal care market. Currently, the use of such personal care products rapidly growing in the country. Plastic caps are majorly used in the sealing of such products rather than metal caps due to their lightweight & other properties.

The U.S. beauty and personal care market was US$ 85.1 billion in 2022 and is expected to grow annually by 3.93% through 2026.

Because of the rising use of beauty & personal care products, the United States holds significant potential for plastic cap sales over the coming years.

Why is China a Highly Lucrative Market for Plastic Cap Manufacturers?

Today, China is the world’s second-largest economy. With this huge economy, the disposable income of people is also increasing. China’s population is around 1.4 billion which is approximately 19% of the overall world's population. This high population & economy creates a strong base for the food & beverage, pharmaceutical, personal care & cosmetics, and home care & toiletries industries which is expected to create more opportunities for plastic caps across the country.

China is projected to be one of the prominent producers and consumers of plastic caps, and the market in china is anticipated to grow at the highest rate over the forecast period.

Demand is primarily driven by the rising consumption of carbonated and non-carbonated drinks and the advent of new plastic products to strengthen manufacturing capabilities in the country. The China market for plastic caps is expected to register a CAGR of 5.9% over the forecast period.

Category-wise Insights

Why are Screw-on Caps Most-Widely Used?

Screw-on caps are estimated to hold close to 50% of the market value share among the product type segments.

Screw-on cap consumption is anticipated to drive during the forecast period due to increasing demand for packaged drinks. This type of cap provides a virtually airtight seal that holds the fluid inside the jar or bottle.

The convenience of Screw-on plastic caps makes it possible to seal and unseal a container multiple times with keeping the contents protected and fresh. Due to such properties, these caps are widely used as compared to other types of plastic caps.

Growth in the demand for drinks, especially non-carbonated drinks, owing to their health-related benefits, is boosting the demand for screw-on plastic caps, Moreover, the demand for screw-on caps is increasing for the packaging of diet drinks such as low-calorie drinks, no-sugar drinks, and classic soft drinks.

Due to all of these factors, the screw-on caps sub-segment is anticipated to reach a valuation of US$ 40.1 billion by 2033.

Will Market Growth Continue to Be Led by the F&B Sector?

The plastic caps market is mainly driven by the demand generated by the food & beverage industry. Consistently increasing production output and consumption of food & beverage products creates astonishing demand for rigid packaging solutions including caps and closures.

Demand for plastic caps and closures is consistently rising due to changing eating and drinking habits.

Furthermore, the enormous demand for non-carbonated beverages, including juices, flavored water, and coconut water dominantly helps to increase the demand for plastic caps.

The food & beverage sector has experienced remarkable growth in the last couple of years and is projected to witness noteworthy market growth over the coming years as well.

Owing to the above-mentioned factors, the demand for plastic caps from the food and beverage industry is expected to reach a valuation of US$ 26.4 million by the year 2033.

Competitive Landscape

Prominent plastic cap manufacturers are Berry Global Inc., Amcor Plc, Bericap GmbH and Co KG, Silgan Plastics, Aptar, Inc., Mold-Rite Plastics, LLC, Weener Plastik GmbH., O. Berk Company, UNITED CAPS, Pano Cap, Phoenix Closures Inc., and Hicap Closures Co., Ltd.

Key manufacturers of plastic caps are focusing on developing new products and increasing their production capacity to cater to the increase in the demand for various applications. Key market players are also manufacturing products that are lightweight and low-cost. Along with this, manufacturers of plastic caps are now focused on the development and implementation of recyclable as well as highly sustainable caps.

• In Jan 2021, BERICAP produced its first test production of closures manufactured from sugar cane-derived resin. The closure itself is a 38 mm three-start design with a PE liner for use on HDPE bottles.
• In Sept 2022, Berry launched a fully accredited child-resistant (CR) complete-pack solution for liquid healthcare products. This pack comprises Berry’s pharma round PET bottle, together with its child-resistant closures (CRC) PP28 Medi-Loc® CRC and TE (tamper-evident) CRC, which can be fitted with a variety of specified liners.

Fact.MR has provided detailed information about the price points of key manufacturers of plastic caps positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Plastic Caps Industry Research

• By Product Type:

  • Screw-on Caps
  • Dispensing Caps
  • Caps with Handles
  • Push-pull Caps
  • Others

• By Material:

  • PET
  • PP
  • HDPE
  • LDPE
  • Others

• By Packaging:

  • Packet/Sachets
  • Bottles
  • Tubes
  • Others

• By End-use Industry:

  • Food & Beverages
  • Pharmaceuticals
  • Agrochemicals
  • Personal Care & Cosmetics
  • Homecare & Toiletries
  • Others

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA