Plastic Caps and Closures Market: By Product (Screw-on caps, Dispensing caps, and others), By Container (Plastic and Glass), By Technology (Compression molding, Injection molding, and Post-mold TE band), By Raw material (PE, HDPE, LDPE, and others), By End-user (Beverages, Food, Pharmaceuticals & Healthcare, Personal & Homecare, and others), and Geography  

Plastic Caps and Closures Market was valued at USD 48.8 billion in 2022 and is poised to grow at a CAGR of 16.2% from 2023-2029. The drivers for the market growth are product modernization to aid product differentiation & branding, rising demand for smaller-size packs, and demand from small & medium-sized end users. However, lightweight and cost-effective stand-up pouch packaging alternatives, regulations of environmental degradation on manufacturers and charging taxes, and substitute products availability are the factors that hinder the growth of the market. Plastic caps & closures are utilized in a wide range of industries, including food and beverage, medicines, household items, and cosmetics. The final components of the packaging are caps and closures, which are responsible for protecting the integrity of the product packaging. PP and PE are the principal raw materials used in the production of caps and closures. Plastic caps & closures Market are widely used in industry because they provide a cost-effective sealing option. The demand for packaged foods and prescription products has been expanding at a healthy rate, and the caps and closures market is projected to benefit from this trend over the forecast period. This industry, on the other hand, is completely reliant on the suppliers of raw materials for manufacturing. The raw materials PP and PE, which are employed as raw materials, have wildly varying market prices. Manufacturers struggle to maintain consistent output because the cost of production is based on this raw resource.

The Plastic Caps and Closures Market Key Development:

• In February 2019 Aptar launched a dispensing closure made of post-consumer recycled resin. In Europe, the company is using 50% of recycled PC in the manufacturing of dispensing closure, ensuring the global transition to a circular economy and a sustainable future.