The global Sport Caps And Closures Market is predicted to amass a total valuation of USD 1,074 million by 2023. By the end of 2033, the market is estimated to reach USD 1,652 million by 2033.
Over the forecast period, the industry analysis by Future Market Insights (FMI) suggests that sales of sport caps and closures are projected to increase at a CAGR of 4.4%.
All kinds of caps and closures have seen substantial growth in demand over the past years as consumption of packaged foods and beverages has increased on a global scale. Shipments of sport caps and closures have contributed to the growth of the global caps and closures market in 2022.
| Attributes | Details |
|---|---|
| Sport Caps and Closures Market Size (2023) | USD 1,074 million |
| Sales Forecast (2033) | USD 1,652 million |
| Global Market Growth Rate (2023 to 2033) | 4.4% CAGR |
| Dominant Cap Type | Screw Closures |
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The beverage industry is a leading contributor to the sales of sport caps and closures and is anticipated to have a significant influence as the consumption of beverages increases across the world.
To decrease costs and ensure leak-free packaging, beverage companies are opting for lightweight sport caps and closures that also have less plastic content. This is also aligned with the regulatory bans on the use of single-use plastics in the wake of rising environmental awareness.
Sport cap and closure manufacturers are launching innovative products that aim to meet the changing consumer preferences and drive their revenue potential via these new launches.
For instance, in April 2021, Tetra Pak announced the deployment of its tethered cap solutions that are lightweight and are meant to minimize waste. These caps are part of the company’s sustainable food & beverage packaging vision that is predicted to be beneficial for multiple food & beverage manufacturers.
Principal Consultant
Sustainability is the chief focus of companies across the world in modern times as consumers are more conscious about the environment than ever and demand products that pose no threat to the environment.
The use of plastics is being avoided in multiple industries and the demand to use plastic alternatives is seen in the packaging industries which is expected to affect demand as well as supply of sport caps and closures on a global scale.
Sport cap and closure solution providers are investing in the research & development of more eco-friendly alternatives for plastic but there has not been any substantial breakthrough yet.
This factor is expected to pose several challenges to sport cap and closure vendors in the years to come as more stringent mandates are being placed to reduce the use of plastic.
| Particulars | Details |
|---|---|
| H1 2021 | 3.3% |
| H1 2022 Projected | 3.9% |
| H1 2022 Expected | 4.1% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (+) 20 ↑ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (+) 80 ↑ |
Future Market Insights predict a comparison and review analysis for the dynamics of the sport caps and closures market, which is principally subjected to an array of industry factors along with a few definite influences regarding the presence of alternative products limiting the market growth for sports caps and closures market.
Some new advances that have taken place in the market include the use of a liner-less flip-top cap. In January 2022, Aptar Group Inc. announced the launch of its new next-generation sports cap.
The key reason for market growth can be attributed to the increasing consumption of a variety of beverages by consumers. Additionally, the increasing trend of the younger generation engaged in sports activities is projected to fuel the demand for sport caps and closures market.
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Consumption of sport caps and closures over the past few years saw a healthy rise as they were chiefly being used to seal water bottles and other beverages.
Demand for multiple beverages like healthy drinks, spirits, non-alcoholic beverages, etc., has increased and driven sport cap and closure sales, which rose at a CAGR of 3.9% from 2018 to 2022.
Increasing consumption of beverages across the world, the rise in popularity of ready-to-drink (RTD) beverages, increasing demand for use of sustainable caps and closures, and stringent regulations regarding the use of plastics in packaging are some prime factors that are projected to influence the sport caps and closures market potential through till 2033.
Ban on the use of plastics in packaging and sport closure manufacturing is expected to hinder the market for sport caps and closures to a certain extent but demand for plastics caps is anticipated to stay high over the forecast period. Consumption of sport caps and closures is estimated to rise at a CAGR of 4.4% from 2023 to 2033.
| Duration | Market Analysis |
|---|---|
| Short Term | The market is anticipated to reach USD 1,170.59 million by 2025. Growing awareness pertaining to food safety among consumers is projected to catalyze the demand for sport caps and closures over the next few years. Additionally, stringent government policies for food security and certain harmful packaging are projected to have a positive influence over the upcoming years. The aforementioned factors are expected to stimulate the sport caps and closures market, along with its related market, namely, the screw closures market. |
| Medium Term | During the period, the market is estimated to generate revenue of USD 1,332.01 million. The market is anticipated to witness a rise in the usage of plastic closures and caps in multiple end-user industries for packaging. Additionally, the surge in the awareness of post-consumer resin (PCR) is assessed to bring about new opportunities for market growth. |
| Long Term | By the end of 2033, the market is expected to be worth USD 1,652 million. Rising demand for packaged beverages teamed up with technological upgrades in packaging solutions is projected to assist in market development. Moreover, numerous companies are expected to significantly invest in research and development activities to develop a distinct and cost-effective product, thus pushing the market growth. Growth in the sports caps and closures market is anticipated to push the sport closure products market over the forecast period. |
The sport caps and closures market stance for regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa has been analyzed by analysts from FMI.
| North America Market Size (2023) | USD 357 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 4.1% |
| Latin America Market Size (2023) | USD 78 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 4.4% |
| Europe Market Size (2023) | USD 262 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 3.6% |
| South Asia Market Size (2023) | USD 125 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 5.8% |
| East Asia Market Size (2023) | USD 152 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 5.3% |
| Oceania Market Size (2023) | USD 33 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 3.2% |
| The Middle East and Africa Market Size (2023) | USD 66 million |
|---|---|
| Estimated CAGR (2023 to 2033) | 5.5% |
Demand for sport caps and closures in North America is expected to exhibit a dominant stance throughout the forecast period. This can be attributed to the rising consumption of alcoholic as well as non-alcoholic beverages in the nation and the presence of key market players.
Europe is expected to be the second-leading market in terms of volume and value, with high demand for sport caps and closure products from countries like Germany, Italy, France, and the United Kingdom.
The East Asia sport caps and closures industry is anticipated to rise at a steady CAGR over the forecast period. Sport cap and closure shipments in this region are anticipated to be spearheaded by China, which is seeing a substantial increase in beverage consumption as lifestyle trends in the nation are changing rapidly.
A similar trend change is being observed in the South Asian region as well, and sales of sport caps and closures in the region are also anticipated to have a bright outlook throughout the forecast period. Rapidly rising demand from nations such as India and Indonesia is the focal center of sport cap and closure suppliers.
| Years | Values |
|---|---|
| 2018 | USD 270 million |
| 2022 | USD 308 million |
| 2023 | USD 321 million |
| 2033 | USD 484.38 million |
The population of the United States has been seeing a rise in the prevalence of obesity and other health disorders which has invigorated a new sense of health and fitness among the population.
Increasing focus on health and fitness has also propelled the demand for healthy drinks which subsequently is driving sales of sport caps and closures.
The presence of prominent beverage manufacturers, high spending potential population, and increasing demand for alcoholic beverages, spirits, healthy drinks, and RTD beverages are a few factors that drive shipments of sport caps and closures in the United States.
| Historical CAGR (2018 to 2022) | 3.7% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.2% |
| Years | Values |
|---|---|
| 2018 | USD 41 million |
| 2022 | USD 51 million |
| 2023 | USD 54 million |
| 2033 | USD 95.80 million |
In the past few years, India has seen rapid urbanization and this has influenced the lifestyle of the Indian population. A spike in disposable income of the population has led to the adoption of a more luxurious lifestyle and increased beverage consumption in the nation.
With a massive consumer market for beverages and packaged foods, India has become one of the key markets for sport cap and closure suppliers. Increasing demand for beverages is expected to boost demand for sport caps and closures in the long run in India. Sport caps and closures market players can benefit from the Indian market and improve their global market presence.
| Historical CAGR (2018 to 2022) | 5.4% |
|---|---|
| Forecast CAGR (2023 to 2033) | 5.9% |
| Years | Values |
|---|---|
| 2018 | USD 53 million |
| 2022 | USD 59 million |
| 2023 | USD 62 million |
| 2033 | USD 90.03 million |
The German sport caps and closures industry is projected to lead the European region, by attaining USD 62 million by 2023. The market is anticipated to expand at 3.8% CAGR over the forecast period. Rising per capita income and emerging lifestyles of the European population are expected to fuel the sport closure demand.
The market in Germany is being driven by the surge in e-commerce that emphasizes visually attractive packaging trends. The growing consumption of juices, soft drinks, and water in convenience-sized packaging is also expected to have a positive influence on market development.
| Historical CAGR (2018 to 2022) | 3.3% |
|---|---|
| Forecast CAGR (2023 to 2033) | 3.8% |
| Years | Values |
|---|---|
| 2018 | USD 598 million |
| 2022 | USD 691 million |
| 2023 | USD 721 million |
| 2033 | USD 1,109.02 million |
Screw closures are currently the most sought-after type of closures in the beverage industry and this trend is expected to surge over the forecast period as well. Due to their proven efficiency in providing leak-proof sealing and high market penetration, they account for more than 2/3 of the global market in terms of value share.
| Historical CAGR (2018 to 2022) | 4% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.4% |
| Years | Values |
|---|---|
| 2018 | USD 850 million |
| 2022 | USD 975 million |
| 2023 | USD 1,018 million |
| 2033 | USD 1,565.86 million |
The sales of plastic sport caps and closures are projected to register a growth rate of 4.4% over the forecast period. The segment is expected to amass total sales worth USD 1,018 million by 2023.
Over the forecast period, the market is estimated to attain a valuation of USD 1,565.86 million by 2033 end. The market is being driven by the surge in the use of plastic caps and closures in numerous end-user industries for packaging purposes.
Accelerated research and development activities to innovate advanced, cost-effective plastic sport caps and closures are expected to propel market development.
| Historical CAGR (2018 to 2022) | 3.8% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.4% |
Sport cap and closure companies are investing in the research and development of sustainable products that are compliant with stringent mandates of counties and as per the demand from consumers. Sport cap and closure suppliers are focusing on increasing their product portfolio and production capacities through mergers and acquisitions.
The sport caps and closures market report profiles the following key players
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East and Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Indonesia, Malaysia, Singapore, Australia, New Zealand, Türkiye, South Africa, GCC Countries |
| Key Market Segments Covered | Cap Type, Material, Diameter, Region |
| Key Companies Profiled | Berry Global Inc.; Silgan Holdings Inc.; Aptar Group Inc.; BERICAP Holding GmbH; Closure Systems International Inc.; UNITED CAPS; Pro-Pac Packaging Limited; Caps & Closures Pty Ltd.; Georg MENSHEN GmbH & Co. KG; Blackhawk Molding Co Inc. |
| Pricing | Available upon Request |
The projected CAGR of the Sport Caps and Closures market by 2033 is 4.4%.
The projected market value for 2033 is USD 1,652 million.
The market is estimated to secure a valuation of USD 1,074 million in 2023.
North America holds a significant share of the Sport Caps and Closures market.
India, Japan, and China dominate the Asian market.
1. Executive Summary | Sport Caps and Closures Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Cap Type 5.1. Screw Closures 5.2. Snap Closures 5.3. Push & Pull Closures 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Plastic 6.2. Metal 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Diameter 7.1. Up to 20 mm 7.2. 21-30 mm 7.3. 31-40 mm 7.4. Above 40 mm 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Berry Global Inc. 16.2. Silgan Holdings Inc. 16.3. Aptar Group Inc. 16.4. BERICAP Holding GmbH 16.5. Closure Systems International Inc. 16.6. Amcor plc 16.7. Pro-Pac Packaging Limited 16.8. Caps & Closures Pty Ltd. 16.9. Georg MENSHEN GmbH & Co. KG 16.10. Blackhawk Molding Co Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Sport Caps And Closures Market
