Return to: Market NewsCaps and Closures Demand is Primarily Driven by Convenience Packaging, Growing Consumption of Packaged Goods and Rising UrbanizationIndustry Experts, Inc., has released its latest report on Caps and Closures Market, which projects the demand for the same to reach US$103.5 billion by 2030 from an estimated US$76.1 billion in 2024 at a CAGR of 5.2% between the two years. The global Caps and Closures market is driven by several key growth trends such as the growing demand from the food and beverage sector for tamper-proof, leak-proof, and extended shelf-life solutions. The rising consumption of packaged goods, driven by urbanization and changing consumer lifestyles, significantly boosts the market. Technological advancements, such as lightweight and eco-friendly designs, along with the integration of smart technologies for enhanced product safety and traceability, further support growth. The Asia Pacific market holds the dominant position in the Caps and Closures market, accounting for 41.1% in 2024, due to its large and diverse consumer base, rapid industrialization, and significant growth in the food and beverage, pharmaceuticals, and consumer goods industries. The region benefits from a growing middle class, urbanization, and increasing demand for packaged products, which directly fuels the need for advanced packaging solutions. Additionally, many of the world's leading manufacturers have established production facilities in the region, capitalizing on its cost-effective labor and robust manufacturing infrastructure. The report studies the caps and closures market across all major regions including North America (The United States, Canada, and Mexico), Europe (France, Germany, Italy, Spain, the United Kingdom, Russia & Rest of Europe), Asia-Pacific (Australia, China, India, Japan, Thailand, Vietnam & Rest of Asia-Pacific), South America (Colombia, Brazil & Rest of South America) and Middle East & Africa (Egypt, Saudi Arabia, UAE & Rest of Middle East & Africa). The market for major caps and closures types analyzed in this report includes Screw Closures, Dispensing Caps, Aerosol Closures, Crown Closures and Other. The study also examines the market for caps and closures by material type comprising Plastic, Metal and Others. With regard to end-user sectors, the global market for caps and closures has been categorized into Food, Beverages, Healthcare, Cosmetics & toiletries and Others. About Industry Experts, Inc Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts. ... News Release: Caps and Closures Demand is Primarily Driven by Convenience Packaging, Growing Consumption of Packaged Goods and Rising Urbanization Submitted on: February 03, 2025 10:18:23 AM Submitted by: IndustryexpertsMedia On behalf of: industry-experts.com/verticals/packaging-materials/global-caps-and-closures-market |