As per the latest market research conducted by FMI, the global snap-on closures market is expected to reach a valuation of USD 23.7 billion by 2033. The market is anticipated to record a CAGR of 4.6% during the forecast period. In 2023, the market value is projected to reach USD 15.1 billion.
Vital factors that may fuel the market growth are
The manufacturers who are into dealing with both hot and cold products are ready to invest any amount of money for the snap-on closures. This is owing to the fact that the snap-on closures do not require heat treatment, which reduces the cost of these closures.
Over the covering and cap, a marketer would aim to effectively communicate the advantages of these items. The advantage of snap-on closures is that the surface of the closures, which the marketer can print with their message, accentuates the message. During the forecast period, it is anticipated that these factors are expected to increase the demand for snap-on closures. Owing to surging land pollution, many manufacturers are using aluminum for the production of snap-on closures.
The application of aluminum ensures that the snap-on closures are recyclable, which allows the companies to be in line with the sustainability goals. The manufacturers of snap-on closures are ensuring that the quality complies with the international regulations. These tests are done to confirm that the snap-on closures are compatible for food contact, and do not cause any harm to human body. Such factors are expected drive the growth of the market.
The beverage industry's producers have been investing in snap-on closures due to the rising reputation. This help to maintain the level of hygiene and safeguard the beverages from contamination. Sales of snap-on closures are anticipated to soar as a result of this and their convenience in use. The market in Asia Pacific is expected to hold the dominant market share during the forecast period.
The surging packaging market in the developing countries, especially India and China presents massive opportunities. The presence of affordable raw materials is also a key factor that is expected to drive the market growth during the forecast period. A rapidly growing beverages market in the region is also anticipated to propel the market growth.
| Attributes | Value |
|---|---|
| Snap-on Closures Market Value (2022) | USD 14.4 billion |
| Snap-on Closures Market Expected Value (2023) | USD 15.1 billion |
| Snap-on Closures Market Forecast Value (2033) | USD 23.7 billion |
| Snap-on Closures Market Expected CAGR (2023 to 2033) | 4.6% |
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The market for snap-on closures has a lot of potential given the swift growth of the beverage, personal care, and cosmetics industries. The snap-on closures are essential for extending the product's shelf life. They offer airtight storage to cap bottles containing liquids and powders.
In comparison to other closures, these are also simple to open. However, a modest reduction in sales has resulted from an increase in raw material prices brought on by the supply chain interruption. The war between Russia and Ukraine and this have also contributed to a shortage of raw materials. While the historical CAGR for the market was 4.9%, the anticipated CAGR for the forecast period is 4.6%.
Short-term (2023 to 2026): During this period, we might get to see the adoption of the dispensing nozzle design. This design completely eliminates drips, messes, or clogging making them suitable for controlling small doses of liquid products with high viscosity. The pharmaceutical manufacturers who are into producing different kinds of syrup might be facing huge demand for these kinds of snap-on closures.
Medium-term (2026 to 2029): During this period, there might be a steep increase in the consumer awareness regarding hygiene and sustainability. The application of eco-friendly methods would ensure that the products are easy to use and bio-degradable as well. For example, in 2018, Aptar launched closures made from post-consumer resin.
Long-term (2029 to 2033): At this point of time, there might be a massive demand for lightweight packaging solutions. The snap-on closure’s light weight guarantees that this helps to maintain the product's overall light weight. Governments around the world are anticipated to impose severe penalties on those who operate carelessly and generate garbage. The biodegradable nature of the materials used to make snap-on closures may significantly reduce waste accumulation.
Rapid urbanization and an increase in disposable income have led to a massive snap-on closures demand. As the use of personal care products enhances a person's appeal, consumers have begun adopting them gradually. In particular, it protects skin that is excessively moist or dry.
The containers which are used for storing personal care products are relying on snap-on closures owing to their ability to maintain the freshness of the product. Apart from that, the snap-on closures also assist in regulating the flow of the products, as a result of which there is no risk of overflow and leakage. The product that is used for manufacturing snap-on closures is eco-friendly, which is consequently supporting the companies achieve its sustainability goals.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR (2023 to 2033) | 3.5% |
| Region | Europe |
|---|---|
| Country | Germany |
| CAGR (2023 to 2033) | 3.2% |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR (2023 to 2033) | 6.1% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 5.5% |
| Region | South America |
|---|---|
| Country | Brazil |
| CAGR (2023 to 2033) | 4.4% |
Brazil ranks third when it comes to the production of soybean oil. In July 2022, Brazil was set to produce a record amount of soybean oil amid crush margins. With huge reserves of soybean oil, Brazil has been manufacturing soybean oil for a lot of other nations. Brazil's market for soybean oil valued at USD38 billion, offers many options.
The soybean oil manufacturers are making use of snap-on closures in order to avoid the leakage of oil and to regulate their flow as well. The low cost of the snap-on closures is expected to enormously benefit the soybean oil market.
| Attributes | Details |
|---|---|
| Brazil Market Expected Size (2033) | USD 987.4 million |
| Brazil Market Absolute Dollar Growth | USD 348.2 million |
| CAGR % 2018 to 2022 | 4.1% |
The beverage manufacturers who were into selling cool drinks, have started manufacturing local beverages like masala chai, butter milk, etc. in India. Most significantly, there has been a rise in the consumption of these vintage drinks. Snap-on closures are being used by the producers of these drinks to maintain their hygienic standards.
The quality controls make sure the drinks are still palatable even after coming into contact with the snap-on covers. The small weight of these closures, which makes the bottles portable, impresses the beverage industry's producers as well.
| Attributes | Details |
|---|---|
| India Market Expected Size (2033) | USD 2.3 billion |
| India Market Absolute Dollar Growth | USD 1 billion |
| CAGR % 2018 to 2022 | 5.6% |
Germany is expected to be one of the leading markets for snap-on closures. The surging personal care and cosmetics industry which is driven by rising consumer spending is expected to fuel growth of the market. In 2020, the personal care and cosmetics industry was valued at USD 15 billion in Germany, making it the dominant market in Europe.
Germany's market is anticipated to be fueled by a high degree of self-esteem, which has led to the personal care sector's rapid expansion. Personal care and cosmetics companies are making use of snap-on closures to improve customer experience. The application of such closures might also enable the companies to achieve sustainable development.
| Attributes | Details |
|---|---|
| Germany Market Expected Size (2033) | USD 1.1 billion |
| Germany Market Absolute Dollar Growth | USD 298.8 billion |
| CAGR % 2018 to 2022 | 3.5% |
The market is anticipated to increase rapidly due to rising disposable income, changing lifestyles, the existence of significant packaging companies, and the adoption of user-friendly materials. The United States is highly developed owing to rapid urbanization and a booming economy. These factors are surging the sales of snap-on closures. The nation has also spent massive amounts of money on food and beverages.
| Attributes | Details |
|---|---|
| United States Market Expected Size (2033) | USD 4.1 billion |
| United States Market Absolute Dollar Growth | USD 1.2 billion |
| CAGR % 2018 to 2022 | 4% |
There has also been an increase in the sales of pharmaceutical products. The presence of players like Amcor, and Berry Global Inc. are creating the necessary environment to surge the growth of the market. Desire for snap-on closures has also affected manufacturers of cosmetics and personal care goods. Demand has increased due to the potential to extend the product's shelf life and make it appealing.
China is one of the leading producers of personal care and cosmetic products. The presence of leading manufacturers, abundant availability of low-cost raw materials, and advanced technology for manufacturing the closures are expected to drive growth. In 2020, the total sales from cosmetics rose to USD 52.3 billion.
The manufacturers of snap-on closures based out in China are focusing on product innovation, which might lead to a reduction in the price of these closures. One such example is the application of snap-on jump box. Changing lifestyles and expanding the pharmaceutical sector are also expected to surge growth.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 3.5 billion |
| China Market Absolute Dollar Growth | USD 1.4 billion |
| CAGR % 2018 to 2022 | 5.1% |
| Segment | Material Type |
|---|---|
| Attributes | Polypropylene |
| CAGR (2018 to 2022) | 5.3% |
| CAGR (2023 to 2033) | 4.9% |
| Segment | End Use |
|---|---|
| Attributes | Personal Care & Cosmetics |
| CAGR (2018 to 2022) | 4.6% |
| CAGR (2023 to 2033) | 4.2% |
The 34-44 mm segment is mainly used in the food and beverage segment. Thus, the rapid expansion of the food and beverage sector is expected to surge the market growth during the forecast period. As per the market research conducted by FMI, the 34-44 mm segment is expected to hold 40% of the market share during the forecast period. The 34-44 mm segment is also used in the personal care industry, and these are used for storing face oil in specific.
The polypropylene segment is expected to hold the dominant market share during the forecast period. The durability, lightweight, and ability to offer excellent fatigue resistance make it quite popular. The thermal resistance, impact strength, and pliability offered by the 34-44 mm segment are unmatched. These are cost-effective and also increase the shelf life of the product which are stored in the container. The user-friendly nature of the polypropylene segment is expected to surge the market growth.
The personal care and cosmetics market is expected to hold the leading market share during the forecast period. An increased focus on improving the personality is expected to surge the market share of this segment. Rapid urbanization which has led to surging disposable income is also expected to increase the market growth of this segment.
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The start-ups operating in the market have been providing beverage co-packing. They have been providing proprietary glass bottles which are manufactured using sealed ring pull caps for beverage packaging. The facilities are built with aseptic conditions and offer customized bottle shapes and designs.
Eco Six Pack Ring (E6PR): E6PR has been producing six-pack rings for beverage packaging. The start-up’s eco-friendly product is made from compostable plant fibers derived from agricultural byproduct waste. E6PR rings are biobased, non-toxic, and have proven efficiency comparable to plastic counterparts.
The key players are offering new innovative solutions that are lighter, high-barrier shrink bag, which is free of polyvinylidene chloride. These also have the potential to reduce non-renewable primary energy demand by 60%. These would also reduce the Carbon footprint by 45%, and use 55% less water. In January 2023, Amcor was recognized in the World Packaging Organization for product innovation across industries.
Important Developments in the Snap-on Closures Market
Dominant players in the snap-on closures industry
| Company | Description |
|---|---|
| Berry | Berry specializes in the production and decoration of high-quality plastic bottles, jars, flexible tubes, and closures. The company has been offering unrivaled expertise in developing packaging solutions for markets where quality and style are critical to a product’s success. The company has an extensive range of almost 5,000 standard products and is also able to offer custom molding of exclusive designs with the low entry cost. From toolmaking to production, everything is conducted in-house. |
| Amcor | Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home, and personal care. With sales of USD 15 billion, the company has been successful in providing customer satisfaction at almost every step. The company has nearly 220 sites spread across 43 countries. Employing nearly 44,000 workers, the focus of every worker has been to drive sustainable development in every corner of the planet. |
| Aptar | Aptar has always been adapting and preparing alongside its customers every day. The company has been adapting to changing times to ensure that the customers and products stay relevant. The company has been delivering ‘a-ha’ moments for its customers by bringing new solutions to the market that convert non-dispensing packaging into breakthrough product-dispensing systems. Headquartered in Illinois, the company has been employing 13,000 people across 20 countries. |
Other companies profiled: M&H Plastics Ltd., and Silgan Plastic Closure Solutions.
North America region generated the maximum revenue of the global demand in 2023.
The United States is estimated to secure a valuation of USD 4.1 billion through 2033.
The polypropylene segment contributes a maximum share of the global market.
The personal care and cosmetics industry holds the maximum revenue of the global market share.
From 2018 to 2022, the global market exhibited a 4.9% CAGR.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Diameter 5.1. Upto 24 mm 5.2. 24-34 mm 5.3. 34-44mm 5.4. Above 44 mm 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. PP 6.2. LDPE 6.3. HDPE 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End-use 7.1. Food 7.2. Beverages 7.3. Pharmaceuticals 7.4. Personal Care & Cosmetics 7.5. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. Asia Pacific 8.6. Middle East and Africa 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Amcor Limited 17.2. Berry Global Inc 17.3. Aptar Group, Inc. 17.4. M&H Plastics Ltd. 17.5. Silgan Plastic Closure Solutions 17.6. O.Berk Company, LLC 17.7. Closure Systems International, Inc. 17.8. Bericap GmbH and Co KG 17.9. Weener Plastics Group BV 17.10. Blackhawk Molding Co. Inc. 17.11. CL Smith Company 17.12. Alpha Packaging Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Snap-on Closures Market
