The global sales of clic loc closure are estimated to be worth USD 422.5 million in 2021 and are anticipated to reach a value of USD 718.3 million by 2031. Sales are projected to rise at a CAGR of 5.5% over the forecast period between 2021 and 2031. The revenue generated by clic loc closure in 2020 was USD 400.0 million.
Increasingly higher demand for safe, convenient, and tamper-evident packaging solutions among food and beverage industries fuels market growth. Greater consumer interest in convenience and hygiene also extends the adoption of clic loc closures. Innovations in the design of packaging, which help in maintaining product freshness for a longer time, are also crucial driving elements.
Besides, stringent regulations on packaging safety and quality standards ensure higher growth for these closures. The trend for sustainable and recyclable packaging solution supports market growth as companies look toward eco-friendly options.
Global Clic Loc Closure Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 400.0 million |
| Estimated Size, 2021 | USD 422.5 million |
| Projected Size, 2031 | USD 718.3 million |
| Value-based CAGR (2021 to 2031) | 5.5% |
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Clic loc closure market has find their dominance in pharmaceutical sector owing to trim down the risk of inadequate consumption of inappropriate substances for child. Escalating technological advancement for packaging in pharma sector is likely to impetus demand.
The healthcare sector accounts for roughly ten percent of global GDP. Based on current GDP forecasts, healthcare spending is likely to rise by more than 6% annually, according to the IMF. Over the next decade, the healthcare business is expected to have a gradual upswing, resulting in a massive growth curve.
Whereas, heightening food and beverage industry is one of the prominent end use industry owing to abolish the consumption of delicate beverages or supplements for children. Many of consumable supplement and beverages are not appropriate for children and may cause severe health issues. To minimize the occurrence of such instances child loc closures are massively deployed.
However, a gradual hike has been noticed in chemical industry over the past decade, owing to expanding manufacturing industry worldwide. Chemical industry has witnessed a noticeable growth and expected to remain in same growth trajectory over the assessment period. Surging chemical industry is a tangible mark which is likely to further bolster demand.
Ability to emerge across multitude avenues and presumed growth in end use industries are expected to amplify demand resulting to brisk penetration. Clic loc closure business is likely to unfold immense growth opportunities over the forecast period.
The exhaustive analysis conducted by Future Market Insights on “Clic Loc Closure Market” focuses on six crucial regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa. North America is presupposed to hold commanding position on and accounts for more than one fourth of global revenue market share over the evaluation period.
Elevating end use industries including cosmetics, pharmaceutical, chemical and food & beverage in response to intensified discriminatory income will led to emphasis on demand worldwide during the forecast period.
North America seems to corner a significant market share and register exponential growth rate in coming years.
North America is likely to steer over the demand owing to mature end use industry and developed infrastructure with a blend of high per capita income. USA seems to be most prominent in North America region and presupposed to portray an incline growth trend and corner around 90% of market share in North America. Canada is expected to grow moderately with single digit CAGR throughout the assessment period.
However, East Asia followed by Europe and South Asia are analysed to account for a notable growth trend over the forecast period. Owing to rapid expansion in industrialization and urbanization will impetus end use industries. Due to the numerous initiatives taken from the regional government to broaden the manufacturing sector will emphasize on demand.
China, Japan and South Korea are the most dominating countries owing to their manufacturing and technological capabilities, expected to account for more than three-fourth of market share.
Whereas, Middle East and Africa is expected to project a moderate growth rate and likely to account for nominal market share on global scale during the evaluation period.
Principal Consultant
Some of the leading manufacturers and suppliers operating at the global scale are
Market is evaluated as top consolidated and bottom fragmented at global scale with numerous players offering products at diverse pricing across the globe. Manufacturers are most preferably leaned towards the both organic and inorganic growth strategies.
However, product launch, product development and widening sales and distribution network are adopted by the prominent players. Whereas, dynamic shift towards online sales channel is expected to drew demand in incline phase.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Neck Size 6.2. Material Type 6.3. End Use Industry 6.4. Sales Channel 7. Global Market Analysis and Forecast, By Neck Size 7.1. <20 mm 7.2. 20-25 mm 7.3. 26-30 mm 7.4. > 30 mm 8. Global Market Analysis and Forecast, By Material Type 8.1. Polypropylene 8.2. Polystyrene 8.3. ABS plastic 9. Global Market Analysis and Forecast, By End Use Industry 9.1. Pharmaceutical Industry 9.2. Chemical Industry 9.3. Cosmetic Industry 9.4. Food & Beverage Industry 9.5. Others 10. Global Market Analysis and Forecast, By Sales Channel 10.1. Modern Trade 10.2. Franchised Outlets 10.3. Specialty Store 10.4. Online Channel 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. South Asia 11.5. East Asia 11.6. Oceania 11.7. Middle East & Africa 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. Oceania Sales Analysis and Forecast, by Key Segments and Countries 18. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 19. Sales Forecast by Neck Size, Material Type, End Use Industry, and Sales Channel for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Origin 21.2. Rexam Healthcare 21.3. Berry 21.4. MJS Packaging 21.5. Richmond Containers 21.6. Valley Northern 21.7. CENTOR 21.8. Plastic Closures Limited 21.9. SMP (Supplement Manufacturing Partner) and BlueSky.
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Clic Loc Closure Market
