The global caps & closures market size was US$ 61.25 billion in 2021. The global caps & closures market is forecast to grow to US$ 97.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The growing demand for various types of packed food products and beverages, including non-alcoholic and alcoholic, will drive the caps & closures market forward.
Rising demand for water bottles will also propel the growth of the market. In addition to that, the rising demand for more efficient beverages and innovations will escalate the growth of the market.
Bottled water producers are more likely to market their products as superior and high-quality, increasing demand for caps and closures. The increase in population income is accelerating the growth of the market. According to the International Bottled Water Association, the growing population of high-net-worth individuals (HNWI) is influencing the demand for premium bottled water. Furthermore, technological advancements in packaging solutions boost demand for caps and closures.

COVID-19 Impact Analysis
The COVID-19 outbreak has had a significant impact on various sectors, including the beverage sector. Thus, the caps and closures market also experienced loss as regulatory bodies imposed stringent lockdown across several regions. Caps and closures are commonly used in pharmaceuticals, cosmetics, food and beverages, household goods, and so on. They are the final component for goods packaging and maintaining the dependability of product packaging. The growth in the demand for pharmaceuticals has been beneficial for the caps and closures market over the forecast period.
Because of the virus's spread, the growth of the food and beverage sector, both offline and online food chains, slowed during this time period. The availability of safe and sanitary products, on the other hand, is driving market demand. Furthermore, the gradual opening of lockdowns presents various growth prospects for the closures market.

Regional Analysis
Geographically, North America is forecast to emerge as the largest revenue holder in the global caps and closure market. Rapid technological advancements in packaging solutions, combined with changing population lifestyles, are significant factors that may accelerate market demand across the region. Furthermore, the expansion of the food industry and rising demand for packaged food are creating numerous lucrative opportunities for market demand. Because of a large working population, the millennial population is more inclined to pack food, which may accelerate market demand across the region.
In addition to that, the Asia Pacific market is expected to grow at the fastest rate due to rising disposable income and increased consumption of processed and packaged food and beverages.

Competitors in the Market
AptarGroup Incorporated
RPC Group PLC
Amcor Limited Plc
Rexam PLC
Crown Holdings Incorporation
Berry Plastics Corporation
Silgan Holdings Inc.
Guala Closures Group
Other Prominent Players

Market Segmentation
The global caps & closures market segmentation focuses on Raw Material, Type, End-Use, and Region.
By Raw Material
Plastic
Metals
Others
By Type
Plastics Caps & Closures
o Screw Caps
o Dispensing Caps
o Others
Metal Caps & Closures
o Screw & Lung Caps
o Crown Caps
o Others
Other Caps & Closures
By End-Use
Food
Beverages
Healthcare
Cosmetics & Toiletries
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America