Plastic Caps And Closures Market Size, Share, Growth Analysis, By Type(Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE)), By Application(Food & Beverages, Pharmaceuticals, Cosmetics & Household, Others), By Region - Industry Forecast 2024-2031

Plastic Caps And Closures Market size was valued at USD 65 billion in 2019 and is poised to grow from USD 68.58 billion in 2023 to USD 111.03 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Increased demand for bottled water, the urge for convenience, concerns about product safety and security, product differentiation and branding, and shrinking package sizes are driving the plastic caps and closures market.

Some of the potential advantages of plastic caps and closures over other materials include cost-effectiveness, lower weight impact, and compatibility with a variety of materials, making them suitable for a wide range of end-user industries including food, beverage, healthcare, personal care, industrial, and home care. Plastic caps and closures are effective at retaining the flavour and texture of these beverages, which is a major driver of the plastic caps and closures market growth.

The growing demand for cosmetics and makeup in the developed countries, which uses pump closures and dispensing closures, is one of the primary market drivers for the plastic caps and closures industry. The demand for cosmetics, skincare, beverages, and healthcare are among those that are rapidly increasing as a result of the end-favorable consumer's economic situation. These factors contribute to the overall growth of the plastic caps and closures industry.

US Plastic Caps And Closures Market is poised to grow at a sustainable CAGR for the next forecast year.