North America Plastic Caps and Closures Market Size, Share 2031
North America Plastic Caps and Closures Market Size, Share 2031
Segments - North America Plastic Caps and Closures Market by Material (Polyethylene, Polyethylene Terephthalate, and Polypropylene), Applications (Food & Beverages, Pharmaceutical & Healthcare, Cosmetics & Toiletries, and Household Chemicals), and Regions (The US, Canada, and Mexico) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-2452
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Report Description
North America Plastic Caps and Closures Market Outlook 2031
The North America Plastic Caps and Closures Market size was USD 8.30 Billion in 2022 and is likely to reach USD 11.51 Billion by 2031, expanding at a CAGR of 3.7% during 2023–2031. Growth of the market is attributed to the increasing demand for plastic caps and closures owing to its properties including easy availability, flexibility, versatility, and durability.
Plastic caps and closures are critical for preserving the taste, texture, and flavor of processed foods. Plastic caps and closures play an important role in factors such as visual appeal, brand differentiation, and consumer convenience, in addition to providing features such as rupture and pollution resistance.
Caps and closures are critical for the packaging industry, which is driving the market. According to the drug enforcement administration's 2019 report, the biggest pharmaceutical company in the United States produced more than 76 billion opioid pills. In relation, roughly 300 million pain prescriptions were written in 2015.
Due to the extreme high consumption of pain relievers, there is massive increase in the consumption of bottles, which is estimated to fuel the plastic caps and closures market. People aged between 35 and 45 are more likely to use delivery services for food and bottled medicine, which leads to an increase in the use of plastic caps and closures for adequate food packaging.
North America Plastic Caps and Closures Market Trends, Drivers, Restraints, and Opportunities
- Better operability and convenience required for various products is projected to boost the market during the forecast period.
- Rapid growth of food and beverages industry is major factor spurring the market in the coming years.
- Increasing popularity for dispensing and pump closures in wide range of products is estimated to fuel the market.
- Emerging substitutes for packaging of products is expected to hinder the market growth.
- Prices of raw materials are unstable which affects the manufacturing cost of caps and closures act as a key factor that can impede the market in the coming years.
- Emerging economies in developing countries is projected to offer immense opportunities for the market players.
- Technological innovation and advancement in plastic caps and closures market is anticipated to create lucrative opportunities for the market players.
Scope of North America Plastic Caps and Closures Market Outlook Report
The report on the North America plastic caps and closures market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Plastic Caps and Closures Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Material (Polyethylene, Polyethylene Terephthalate, and Polypropylene), Applications (Food & Beverages, Pharmaceutical & Healthcare, Cosmetics & Toiletries, and Household Chemicals) |
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Regional Scope |
The US, Canada, and Mexico |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Albea S.A., Silgan Holdings Inc., Amcor PLC, and Berry Global Inc. |
North America Plastic Caps and Closures Market Segment Insights
The polypropylene segment is projected to hold a major market share
Based on material, the North America plastic caps and closures market is fragmented into polyethylene, polyethylene terephthalate, and polypropylene. The polypropylene segment is expected to constitute a key share of the market in the coming years owing to factors such as great choice for packaging of cleaning products, first aid products, bleaches, high resistance to chemical corrosion, and highly elastic, tough, and durable.
On the other hand, polyethylene segment is anticipated to expand at a rapid pace during the forecast period owing to its strength and durability it is mainly used for producing caps and closures for bottled water, juices, soft drinks, and teas.
The food and beverages segment is projected to account for a large market share
On the basis of applications, the North America plastic caps and closures market is segregated into beverage & food, pharmaceutical and healthcare, cosmetics and toiletries, household chemicals. The food and beverages segment is expected to represent a key share of the market during the forecast period owing to growing needs, changing food habits of the consumer, and rapid industrial growth.
Increasing preference for packed foods in different countries and growth of beverage industry is anticipated to boost the market. However, the pharmaceuticals segment is anticipated to expand at a rapid pace during the forecast period owing to protect the healthcare products from dust, air, and moisture.
The market in US is projected to hold a major market share
In terms of regions, the North America plastic caps and closures market is classified as the US, Canada, and Mexico. The regional market growth can be attributed to rapid expansion of food and beverage industry. Increasing demand for processed foods, snacks, and ready to eat foods is raising the demand for plastic caps and closures for packing and storing of these foods.
Segments
The North America plastic caps and closures market is segmented on the basis of
Material
- Polyethylene
- Polyethylene Terephthalate
- Polypropylene
Application
- Beverage
- Food
- Pharmaceutical and Healthcare
- Cosmetics and Toiletries
- Household Chemicals
Regions
- The US
- Canada
- Mexico
Key Players
- Albea S.A.
- Silgan Holdings Inc.
- Amcor PLC
- Berry Global Inc.
Competitive Landscape
Major players competing in the North America plastic caps and closures market include Albea S.A., Silgan Holdings Inc., Amcor PLC, and Berry Global Inc.
Some of these players are focused on several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
- In January 2020, Silgan Holdings Inc. acquired Albea’s dispensing business for USD 900 million.
- In January 2020, Berry Global Group Inc., raised investment to add capacity for breathable films of USD 20 million.
Frequently Asked Questions
The report covers the US, Canada, and Mexico.
Major challenges include the emergence of alternative packaging solutions and unstable raw material prices affecting manufacturing costs.
Growth drivers include increasing demand for convenience packaging, rapid expansion of the food and beverage industry, and rising use in pharmaceuticals.
The food and beverages segment is expected to account for a large market share due to changing food habits and rapid industrial growth.
Key applications include food and beverages, pharmaceuticals and healthcare, cosmetics and toiletries, and household chemicals.
The polypropylene segment is projected to hold a major market share due to its chemical resistance, elasticity, and durability.
Common materials include polyethylene, polyethylene terephthalate (PET), and polypropylene.
The market is anticipated to grow at a CAGR of 3.7% during the forecast period of 2023–2031.
The market is expected to reach USD 11.51 billion by 2031.
The North America plastic caps and closures market was valued at USD 8.30 billion in 2022.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Plastic Caps and Closures Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Plastic Caps and Closures Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Plastic Caps and Closures Market - Supply Chain
4.5. Global Plastic Caps and Closures Market Forecast
4.5.1. Plastic Caps and Closures Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Plastic Caps and Closures Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Plastic Caps and Closures Market Absolute $ Opportunity
5. Global Plastic Caps and Closures Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Plastic Caps and Closures Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Plastic Caps and Closures Demand Share Forecast, 2019-2026
6. North America Plastic Caps and Closures Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Plastic Caps and Closures Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Plastic Caps and Closures Demand Share Forecast, 2019-2026
7. Latin America Plastic Caps and Closures Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Plastic Caps and Closures Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Plastic Caps and Closures Demand Share Forecast, 2019-2026
8. Europe Plastic Caps and Closures Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Plastic Caps and Closures Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Plastic Caps and Closures Demand Share Forecast, 2019-2026
9. Asia Pacific Plastic Caps and Closures Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Plastic Caps and Closures Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Plastic Caps and Closures Demand Share Forecast, 2019-2026
10. Middle East & Africa Plastic Caps and Closures Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Plastic Caps and Closures Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Plastic Caps and Closures Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Plastic Caps and Closures Market: Market Share Analysis
11.2. Plastic Caps and Closures Distributors and Customers
11.3. Plastic Caps and Closures Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Albea S.A.
11.4.2. Silgan Holdings Inc.
11.4.3. Amcor PLC
11.4.4. Berry Global Inc.
Methodology
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