The global dispensing caps market is anticipated to accumulate a market value of US$ 51.57 billion in 2023 and is expected to garner a valuation of US$ 87 billion by exhibiting a CAGR of 5.3 % in the forecast period 2023 to 2033. The dispensing caps market reflected a growth of 4.1% CAGR in the historical period 2018 to 2022.
The need for convenience and enhanced operability act as important drivers for dispensing caps market. A plastic cap plays a key role in safeguarding the product from dust and other contaminants. Utilization of these caps in packaging solutions generates more profit as compared to metal dispensing caps. Consumers are on the lookout for user-friendly dispensing caps that are easy to open and convenient to use.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 51.57 billion |
| Projected Market Value in 2033 | US$ 87 billion |
| Growth Rate (2023 to 2033) | 5.3 % CAGR |
The growing popularity of dispensing caps in different product groups including skincare, body care, beverages, and liquid food products is expected to drive the market growth in the forecast period. The health and wellness trend has brought a shift towards preventive healthcare, which prevents tampering, contamination, and counterfeiting. This is becoming crucial to assure consumers of the safety of the products they are buying.
Also, the burgeoning demand for convenient packaging and better functionality or user-friendly packages and bottles is propelling the product demand even more. The demand for better product safety and secure sealing will further boost product demand in the coming years. Along with this, the high demand for bottled water is providing a major push for market growth. Bottled water is gaining massive demand from the population and is one of the fastest-growing beverage categories. Changing lifestyles and rising per capita are the foremost factors fuelling the growth of the bottled water sector. This will directly benefit the market growth of plastic caps.
The manufacturers of bottled water are more interested in selling their products with superior and high-quality features This, in turn, is propelling the demand for dispensing closures. Growing income levels of the population are proliferating the sales of premium bottled water and encouraging producers to launch premium bottled water products with appealing capping solutions.
On the other hand, the growing demand for cosmetics and makeup across the developed region that utilizes the dispensing closures is further driving the industry growth ahead.
Region-wise, Asia-Pacific is expected to dominate the market by commanding a 41.6% market share by end of the forecast period. Ever-increasing application of these caps in many end-user industries and the growing population are expected to fuel growth in the region. Low cost of production, low cost of raw materials, and availability of inexpensive labor are also contributing to the market growth.
The market in North America is projected to grow with a significant CAGR of 5.1% during the forecast period. Factors such as rapid technological advancements in packaging solutions along with the changing lifestyle of the population are accelerating the product demand in the region.
Also, the expansion of the food industry and rising demand for packed food are further presenting various lucrative opportunities for market growth. Increasing preference by the millennial population for packed food because of a huge working population will augment the regional market growth in the coming years.
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Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing dispensing caps are expected to create lucrative opportunities for market growth during the forecast period.
Dispensing caps are products that are used in health & beauty, the craft industry, food & beverage, personal care, chemicals, medicines, and many more. Manufacturers usually prefer dispensing caps to provide a covering to a product from getting contaminated by the external environment.
The dispensing caps help the product from spilling out and restrict moisture to enter the packaging from the environment. Dispensing caps are extremely appropriate in handling and without any stress, it allows the transportation of a product.
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Due to changing lifestyles of people, the skincare industry is providing services that are anticipated to drive the dispensing caps market.
The increasing demand for creams, lotions, and serums from the skincare industry is allowing the global dispensing caps market to grow. In addition to this, Due to the consumption of tubes by consumers, the manufacturers of the skincare industry are shifting towards tube packaging which is escalating the demand for dispensing caps market.
The rising popularity of dispensing caps for pharmaceutical products is likely to boost the growth of the market, globally. Pharmaceutical products should be contamination-free, hygienic, and convenient and the increasing consumption of dispensing caps in pharmaceutical products creates revenue-generating opportunities for the dispensing caps manufacturers.
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The rising use of PET and Polypropylene (PP) based containers has increased the demand for dispensing caps as these materials come under thermoplastic which is reversible and can be reshaped and reheated. Polypropylene caps are cost-effective, thermal resistant, durable, and well-suited for dry and wet products and the key players in the market are using these materials more for the target market which bolsters sales in the forecasted period.
The strong restriction imposed by the government on single-use plastics as an environmental concern is hampering the growth of dispensing caps. As the dispensing caps are single-use and they are used for a product without having to remove the closure from the bottle.
Additionally, after the use of a product, the container has no other use and ultimately it should be thrown which can hamper the environment which is restricting the growth of dispensing caps market.
A few of the players actively participating in the dispensing caps market consist of
In consideration of the income and changing lifestyles of people in the USA the growth in the beverages and cosmetics end-use industry is anticipated to propel the demand for dispensing caps market. Due to low-cost production and low-cost raw material, manufacturers in the USA are shifting towards the production of dispensing caps. Therefore, the country is expected to boost the demand for dispensing caps.
Due to COVID-19, consumers’ interest in health and safety, particularly in the immune system and overall health-enhancing products, has increased, which has brought the pharmaceutical industry to the focal point of attention. Additionally, the increase in the pharmaceutical industry has led to a boost in the demand for dispensing caps.
As the usage of medicines such as syrup bottles is increased coupled with the use of dispensing caps because these caps are composed of layered material and are sterile. Therefore, pharmaceutical packaging has increased the demand for dispensing caps according to the consumers’ needs.
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Dispensing Caps Market
