United States Plastic Caps And Closures Market Size (2024 - 2029)

United States Plastic Caps And Closures Market Analysis

The United States Plastic Caps And Closures Market size is estimated at USD 11.82 billion in 2024, and is expected to reach USD 13.38 billion by 2029, growing at a CAGR of 2.51% during the forecast period (2024-2029).

• Plastic caps and closures utilize PP and PE as primary raw materials for manufacturing. Industries heavily rely on these materials, providing a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been steadily increasing, consequently impacting the caps and closures market, which is expected to see a rise in demand during the forecast period.
• Similarly, amid a growing trend of health-consciousness among consumers, the demand for packaged beverages and pharmaceutical drugs is surging, propelling the caps and closures market. This rise is particularly pronounced in the plastic caps and closures segment, driven by the increasing accessibility of bottled water, which is a favored choice for health-conscious consumers. 
• Notably, in 2023, the Beverage Marketing Corporation and the International Bottled Water Association reported that bottled water claimed the top spot as the most consumed beverage in the United States. While the growth rate in the sector has tapered, the leading beverage category, in terms of volume, marked record highs in both producer revenues and total gallons. Specifically, in 2023, the bottled water market saw a modest increase of 0.4%, a slowdown from the 1.1% growth in 2022 and a significant decline from the robust growth rates of 4.6% and 4.1% observed in 2021 and 2020, respectively.
• Also, the rise in bottled water demand among customers in the United States is propelling the plastic caps and closures market. These components are essential for sealing water bottles to prevent spills, facilitate transportation, and enhance shelf life. The growing awareness of water contamination and safety concerns is driving up the demand for bottled water, a trend expected to continue during the forecast period, potentially spiking the demand for plastic caps across the market.
• Raw material prices directly impact the cost of plastic caps and closures. When the price of plastic resins rises, manufacturers face increased costs in sourcing, processing, and transforming these materials into packaging products. The escalation in raw material costs can strain profit margins, particularly if manufacturers cannot pass on the increased costs to customers. Consequently, this may result in reduced investments in innovation, expansion, or even downsizing, thus restraining the market's growth.

United States Plastic Caps And Closures Industry Segmentation

Plastic caps and closures are essential for sealing containers in various industries, including food, beverages, and pharmaceuticals, ensuring product safety, integrity, and longevity. The study aims to analyze and understand the plastic caps and closures market's current growth, opportunities, and challenges in the United States. The scope of market analysis is segmented by raw materials (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and other materials), type (threaded, dispensing, unthreaded, and child-resistant), and applications (food, pharmaceutical and healthcare, beverage, cosmetics and toiletries, household chemicals, and other applications). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.