Screw Caps Are The Largest Segment Driving The Growth of U.S. Caps and Closures Market

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The global U.S. Caps and Closures Market is estimated to be valued at US$ 3.75 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Caps and closures are used for sealing drinks, food, pharmaceutical, and personal care products. They help keep the product fresh for longer duration and prevent contamination.

Market Key Trends:

One of the key trends in the U.S. caps and closures market is increasing demand for lightweight and easy open packages from end-use industries. Lightweight packaging helps reduce transportation and logistics costs. Easy open packages provide convenience to consumers. Hence, manufacturers are focusing on developing caps and closures that are lightweight as well as easy to open and reclose. For example, in 2021, Amcor launched AmLite Ultra Recyclable HDPE bottle for still water and other food and beverage products. The bottle cap is ergonomically easy to open, providing excellent consumer experience.

SWOT Analysis:

  • Strength: Wide availability of raw materials in the region and presence of major capsule producers in the U.S.
  • Weakness: Presence of local players offering cheaper substitutes
  • Opportunity: Growth in demand from food and beverage industry, increasing preference for sustainable packaging
  • Threats: Stringent regulations regarding plastic content in packaging, threat of substitute products like cartons and pouches

Key Takeaways:

The global U.S. Caps and Closures Market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing demand from food and beverage industry.

Regional analysis:

North America accounts for the largest share in the global caps and closures market due to strong demand from food and beverage industry in the region. The U.S. caps and closures market is projected to reach US$ 5.10 Bn by 2030, growing at a CAGR of 4.5% during the forecast period.

Key players:

Key players operating in the U.S. Caps and Closures are Closure Systems International, Inc., Silgan Plastic Closure Solutions, Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., and Tecnocap S.p.A.