Beverage Caps And Closures Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 49.08 Billion |
| Market Size (2029) | USD 60.77 Billion |
| CAGR (2024 - 2029) | 4.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Beverage Caps And Closures Market Analysis
The Beverage Caps And Closures Market size is estimated at USD 49.08 billion in 2024, and is expected to reach USD 60.77 billion by 2029, growing at a CAGR of 4.36% during the forecast period (2024-2029).
- Caps and closures are crucial in preventing beverage spillage and maintaining product freshness, regardless of the beverage type or packaging material. These components extend shelf life and protect against microbial contamination through tight seals. In the United States, the demand for plastic caps and closures is primarily driven by consumer preferences for convenience and ease of use. Plastic caps effectively shield products from contaminants and microorganisms. Additionally, plastic caps and closures offer a cost advantage over their metal counterparts.
- The global demand for caps and closures is increasing due to their ease of use and sustainable packaging qualities. PET and PP are the primary raw materials used in their manufacture. These components are extensively utilized in the beverage industry for both alcoholic and non-alcoholic products. Caps and closures serve multiple functions: they extend product shelf life, protect against contaminants and moisture, and regulate oxygen levels in packaged goods. As demand continues to rise, the market is expected to experience further growth during the forecast period.
- Bottled water is one of the fastest-growing beverage categories in terms of volume. This increasing consumer demand for bottled water is expected to drive the need for tamper-proof caps and closures during the forecast period. The growing awareness of health and wellness among consumers has shifted from sugary drinks to healthier alternatives, with bottled water being a primary beneficiary of this trend. Additionally, concerns about water quality in some regions have further boosted the demand for bottled water, necessitating robust packaging solutions.
- The modern consumer's "on-the-go" lifestyle has driven demand for lightweight, user-friendly packaging solutions. Custom caps and closures manufacturers are responding with lighter and more efficient designs. The global market growth is further propelled by increasing demand for various beverage types. These trends have led to packaging innovations, including recyclable materials and designs catering to e-commerce needs. The custom caps and closures market continues evolving, meeting consumer preferences and product requirements across diverse industries.
- Moreover, changes in lifestyle patterns and increased per capita consumption fuel the expansion of the bottled water market. Urbanization, busy lifestyles, and the convenience of bottled water have contributed to its popularity. As consumers increasingly opt for on-the-go hydration, manufacturers are responding by offering a variety of bottle sizes and innovative closure designs that ensure product safety and ease of use. This trend will likely continue, driving further growth in the tamper-proof caps and closures market for bottled water packaging.
- Technological advancements in plastic packaging have led to significant innovations in product development within the industry. Many companies invest heavily in research and development activities to create unique and cost-effective products, resulting in increased market innovations. However, the growing concern over climate change has led to stringent government regulations on plastic usage for packaging. These regulations are expected to be the primary constraint on the growth of the beverage caps and closures market during the forecast period.
Beverage Caps And Closures Market Trends
Bottled Water Segment Holds a Significant Market Share
- The bottled water market is expected to register the most substantial gains among major beverage types in developed markets like the United States and developing areas such as India and Indonesia. This growth is driven by increasing health consciousness, convenience, and concerns about tap water quality in some regions. In the financial year 2023, Indian Railways Catering & Tourism Corporation Ltd. (IRCTC) produced over 357 million units of bottled water, nearly doubling their production from 198.60 million units in 2022. This significant increase reflects the rapidly expanding bottled water market in India.
- The growing market for bottled water is creating increased demand for plastic caps and closures, particularly within the expanding bottled water segment. Caps and closures play a crucial role in maintaining the quality and safety of bottled water, preventing contamination, and ensuring freshness. As bottled water consumption continues to rise globally, manufacturers of plastic caps and closures are likely to see sustained growth opportunities. This trend is further supported by innovations in cap design, such as tamper-evident features and improved sealing technologies, which enhance product safety and consumer confidence.
- The ongoing transition from glass to plastic containers is expected to boost demand for plastic caps and closures in the beverage market. This shift is driven by plastic's advantages, including its lightweight nature and ability to reduce product loss through breakage. In the broader market, metal caps will continue to dominate, particularly as the preferred closure for beer bottles. The wine industry is likely to see an increase in metal roll-on screw cap usage, primarily due to the growing popularity of single-serve wine bottles.
- Moreover, bottled water is one of the beverage categories with the fastest growth in terms of volume globally. There would be a rise in the consumer demand for bottled water, raising the need for tamper-evident caps and closures in the forecast period. The bottled water market's growth is fueled by changes in lifestyle and per capita consumption. The competitive rivalry in the market for bottled water is intensified by the increasing presence of international competitors like Coca-Cola, Danone, Nestle, PepsiCo, and Nongfu Spring.
- Technology advancements in plastic packaging have resulted in innovations in product development in the beverage industry. Many companies are investing significantly in R&D activities to develop unique and cost-effective products, and innovation in this space is increasing significantly.
- Many other major companies, such as Amcor and Ball Corp., follow similar strategies and offer new and innovative final products. With innovations in the industry, the demand for products is also growing, thus driving the growth of caps and closures in the beverages industry around the globe.
Asia-Pacific to Register Major Growth
- The Asia-Pacific caps and closures market is dominated by China, with India and Japan following closely behind. Several key factors drive this leadership position. First, the beverage industry's increasing demand for bottled water and packaged drinks has significantly boosted the market. Second, adopting high-performance materials in cap and closure manufacturing has enhanced product quality and functionality. Third, the market benefits from a wide range of material compositions, allowing for versatility in packaging solutions.
- China's economic growth has played a crucial role in shaping the market landscape. As the country's economy continues to expand rapidly, middle-class families are experiencing a substantial increase in their disposable incomes. This rise in purchasing power has led to higher consumption of packaged goods, particularly beverages, driving the demand for caps and closures. The trend is expected to continue, further solidifying China's position as the market leader in the Asia region.
- The Asia-Pacific caps and closures market is experiencing expansion, primarily driven by increasing beverage consumption and population growth. The region's beverage industry has grown enormously over the past decade, attributed to rising disposable incomes. This trend is expected to continue throughout the forecast period, influenced by evolving consumer preferences, particularly the growing demand for energy and nutritional drinks.
- The plastic caps and closures market in this region has been driven by rapid urbanization, population growth, and increasing alcohol demand. Additionally, the region's adoption of recyclable plastic materials for caps and closures is expected to rise as industries increasingly emphasize plastic recycling and sustainability. In the financial year 2023, whiskey had the highest sales volume among various spirits in India, exceeding 250 million cases. Brandy, in contrast, had a sales volume of approximately 82 million cases. The country's overall spirits market sales approached 400 million cases. This growing trend creates demand for caps and closures for various alcoholic beverages.
- A recent survey by Bericap indicates that China's expanding middle class is demanding more sophisticated products, particularly in the packaging industry, which requires plastic components like caps and closures. Consequently, China's plastic industry is undergoing a comprehensive transformation, focusing on technology and environmentally friendly concepts. The market is experiencing a trend toward attractive colors and printing. Companies are increasingly emphasizing the production of eye-catching packages, as the color, shape, texture, graphics, and printing of products communicate brand identity and differentiate them from competitors on store shelves.
Beverage Caps And Closures Industry Overview
The beverage caps and closures market is fragmented, with firms varying for customers by offering competitive prices and cutting-edge products. Crown Holdings Inc., Berry Global Inc., Aptar Group Inc., Evergreen Packaging Inc., and Global Closure Systems are a few of the market's biggest companies. Due to R&D investments, new market efforts, global presence, production sites and facilities, production capabilities, and product launches, the market is competitive.
- June 2024: BERICAP broadened its international footprint by setting up new production facilities in Africa, South America, and Southeast Asia. The company launched new plants in Nairobi, Kenya, and Ho Chi Minh City, Vietnam, and also acquired established production units in Lima, Peru, and Durban, South Africa. These strategic moves brought BERICAP's total to 30 production sites in 25 countries, ensuring customers benefit from localized project support, logistics, and services.
- March 2024: Amcor Capsules, a worldwide leader in crafting closures and capsules for wine and spirits, marked the 60th anniversary of its STELVIN aluminum screw cap range. Launched in 1964 in Chalon-sur-Saône, France, the STELVIN cap heralded a pivotal evolution in the wine industry.
Beverage Caps And Closures Market Leaders
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Crown Holdings Inc.
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Berry Global, Inc.
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Aptar Group Inc.
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Silgan Holdings Inc.
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Amcor Group
*Disclaimer: Major Players sorted in no particular order
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Beverage Caps And Closures Market News
- May 2024: Alpek Polyester, headquartered in Charlotte, NC, introduced CaPETall, a trademarked innovation that champions sustainability in the use of PET for caps and closures. This breakthrough facilitates a 100% PET packaging solution, streamlining the recycling of post-consumer PET bottles and bolstering the PET circular economy. According to the company, its patented CaPETall technology boasts numerous advantages. It not only ensures a fully recyclable PET polymer package but also meets the PET Resin Identification standards. The technology adeptly retains the mechanical and performance attributes of PET's crystallizable polymer, encompassing both its benefits and constraints. Additionally, it upholds the sought-after optical characteristics of PET. Notably, the technology also integrates advanced multi-modal molecular weight technology.
- May 2024: Origin Materials and IMDvista forged a strategic alliance, asserting their goal of creating the world's inaugural commercial-scale PET cap and closure manufacturing system. Through this partnership, they seek to bolster the recyclability of bottle designs.
Beverage Caps And Closures Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Beverage Consumption in Developing Economies
5.1.2 Technological Advancements and Innovative Packaging Solutions
5.2 Market Restraints
5.2.1 Stringent Regulations on the Usage of Plastic caps and closures
6. MARKET SEGMENTATION
6.1 By Material
6.1.1 Metal
6.1.2 Plastic
6.1.3 Other Materials (Rubber, Cork)
6.2 By Application
6.2.1 Beer
6.2.2 Wine
6.2.3 Bottled water
6.2.4 Carbonated soft drinks
6.2.5 Dairy products
6.2.6 Condiments and sauces
6.2.7 Other Applications
6.3 By Geography***
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 Germany
6.3.2.2 United Kingdom
6.3.2.3 France
6.3.3 Asia-Pacific
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.5.1 Brazil
6.3.5.2 Mexico
6.3.5.3 Colombia
6.3.6 Middle East and Africa
6.3.6.1 United Arab Emirates
6.3.6.2 Saudi Arabia
6.3.6.3 South Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Crown Holdings Inc.
7.1.2 Berry Global Inc.
7.1.3 Aptar Group Inc.
7.1.4 Global Closure Systems
7.1.5 Silgan Holdings Inc.
7.1.6 Bericap GmbH & Co. KG
7.1.7 Guala Closures Group
7.1.8 Ball Corporation
7.1.9 Amcor Group
7.1.10 Pact Group
7.1.11 Albea Group
7.1.12 Tetra Laval International
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Beverage Caps And Closures Industry Segmentation
Beverage caps and closures are vital in sealing a range of containers, from bottles and cans to cartons. These products preserve contents and prevent contamination, ensure product safety, and allow for easy opening and resealing. The market presents various caps and closures, differing in materials, designs, and sizes, tailored to various beverage types, packaging formats, and consumer preferences. While traditional options like screw caps and crown corks remain prevalent, the market also embraces innovations such as tamper-evident and child-resistant closures. The rising demand for these products can be attributed to their user-friendliness and sustainable packaging attributes. Widely utilized in both the alcoholic and non-alcoholic beverage sectors, caps and closures are instrumental in extending shelf life, safeguarding against dirt and moisture, and preserving optimal oxygen levels in packaged products.
The beverage caps and closures market is segmented by material (metal, plastic, other materials [rubber and cork]), by application (beer, wine, bottled water, carbonated soft drinks, dairy products, condiments, sauces, and other applications), and by geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, Colombia, and Rest of Latin America], Middle East And Africa [United Arab Emirates, Saudi Arabia, and Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Material | |
| Metal | |
| Plastic | |
| Other Materials (Rubber, Cork) |
| By Application | |
| Beer | |
| Wine | |
| Bottled water | |
| Carbonated soft drinks | |
| Dairy products | |
| Condiments and sauces | |
| Other Applications |
| By Geography*** | |||||
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| Australia and New Zealand | |||||
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Beverage Caps And Closures Market Research Faqs
How big is the Beverage Caps And Closures Market?
The Beverage Caps And Closures Market size is expected to reach USD 49.08 billion in 2024 and grow at a CAGR of 4.36% to reach USD 60.77 billion by 2029.
What is the current Beverage Caps And Closures Market size?
In 2024, the Beverage Caps And Closures Market size is expected to reach USD 49.08 billion.
Who are the key players in Beverage Caps And Closures Market?
Crown Holdings Inc., Berry Global, Inc., Aptar Group Inc., Silgan Holdings Inc. and Amcor Group are the major companies operating in the Beverage Caps And Closures Market.
Which is the fastest growing region in Beverage Caps And Closures Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Beverage Caps And Closures Market?
In 2024, the North America accounts for the largest market share in Beverage Caps And Closures Market.
What years does this Beverage Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Beverage Caps And Closures Market size was estimated at USD 46.94 billion. The report covers the Beverage Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Beverage Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Beverage Caps And Closures Industry Report
Statistics for the 2024 Beverage Caps & Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Beverage Caps & Closures analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
