Nordic Plastic Caps and Closures Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Nordic Plastic Caps and Closures Market Analysis

The Nordic Plastic Caps And Closures Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.42 billion by 2029, growing at a CAGR of 2.58% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 33.13 billion units in 2024 to 38.44 billion units by 2029, at a CAGR of 3.02% during the forecast period (2024-2029).

• European countries, notably Norway, Denmark, Sweden, and Finland, represent relatively smaller consumer markets. The burgeoning food and beverage sector in these nations can be attributed to a rising population, evolving consumer preferences, and an increased appetite for beverages, all driving the demand for a diverse range of plastic caps and closures.
• As per the International Trade Administration, the Swedish population is keenly interested in exploring novel products and cuisines. With a heightened focus on health, a surging appetite for fresh, organic, and 'free-from' food items amplifies the need for plastic caps and closures.
• The upsurge in tourism in Denmark and Sweden, coupled with a rising preference for non-alcoholic beverages such as energy drinks, fruit juices, bottled water, and carbonated soft drinks, is fueling the demand for plastic screw caps. Notably, UNESDA data highlights that in 2023, Denmark consumed 118.1 million liters of packaged water, while Sweden's consumption stood at 105.2 million liters.
• Key manufacturers in Denmark, Sweden, and Finland, such as Modulpac AB and Tetra Pak International BV, are channeling efforts into developing new products with enhanced design, quality, and mechanical attributes. To carve a niche in the market, these companies increasingly focus on offering bespoke and personalized cap and closure solutions, thereby driving market growth.
• The mounting environmental apprehensions surrounding plastic packaging, especially caps and closures in countries like Denmark, Sweden, and Finland, pose a significant challenge. The environmental repercussions of plastic packaging, including heightened pollution and adverse effects on local flora and fauna, impede market growth in the Nordic region.

Nordic Plastic Caps and Closures Market Trends

Polypropylene (PP) Segment is Estimated to Have the Largest Market Share

Nordic Plastic Caps and Closures Industry Segmentation

The scope of the study characterizes the plastic caps and closures market based on the product's raw materials, including PP, PE, PET, and other raw materials used across various end-user industries such as food, pharmaceuticals, beverages, cosmetics and toiletries, and more across various regions. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.

Nordic plastic caps and closures market is segmented by resin (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP) and other plastic materials), by product type (threaded- screw caps, vacuum, etc., dispensing, unthreaded- over caps, lids, and aerosol-based closures, and child-resistant), by end-user industries (food, beverage (bottled water, carbonated soft drinks, alcoholic beverages, juices and energy drinks, and other beverages), personal care and cosmetics, household chemicals, and other end-user industries). The market sizing and forecasts are provided in terms of volume (units) and revenue (USD) for all the above segments.