Press release
Screw Closures Industry Expected to Expand to USD 40.5 Billion by 2032, with a CAGR of 2.9% from 2024
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Analyst Viewpoint
The expansion in the food & beverage sector is a significant driver of the screw closures market. The global demand for screw closures is increasing due to the rising consumption of various personal care, food & beverage, and household goods. The growth in demand for single-serve beverages is propelling the industry. Moreover, research and development of sustainable solutions are boosting market revenue, with vendors developing eco-friendly screw closures for sustainable packaging.
Market Introduction
Screw closures are cost-effective closure solutions with reliable sealing functions. They are widely employed in beverages, food, pharmaceuticals, household, and cosmetics & personal care industries. These closures offer hassle-free opening and closing, along with improved security to prevent product wastage, making them ideal for the food and beverage sectors. They are used mainly when no additional safety function is necessary, with the internal matching mandrel tailored to the respective dosing insert for preassembly.
Key Drivers
Expansion in Food & Beverage Sector:
Screw closures offer high dimensional stability and an easy-grip outer edge. They can be processed on all commonly encountered closing machines.
Screw caps are gaining traction in wine packaging due to their consistent oxygen barrier compared with cylindrical closures. The rise in wine production is propelling market growth, with Europe producing significant volumes.
These closures prevent leaks, essential for packaging potentially harmful pharmaceutical products. Tamper-evident and child-resistant closures are increasingly demanded in the pharmaceutical sector.
R&D of Sustainable Solutions:
Consumers are prioritizing sustainability claims, leading to increased use of 100% recyclable and reusable aluminum screw cap closures.
Innovations such as natural fiber-based closures and other molded packaging products using dryforming technology are emerging.
The growth in demand for single-serve beverages and juices is augmenting market expansion, especially in grocery stores and supermarkets.
Regional Outlook
Leading Region: Asia Pacific
Asia Pacific held the largest market share in 2022, driven by the expansion in the food & beverage sector. The sector's growth is attributed to rising disposable incomes, lifestyle changes, rapid urbanization, and favorable government policies boosting food processing.
Key Players
Major players in the screw closures market are developing plant-based caps, focusing on sustainability and uniqueness. Companies are offering high-definition paper screw caps and optimizing the use of renewable and recyclable materials.
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Key players include:
Amcor Plc
Berry Global, Inc.
Silgan Holdings
Closure Systems International, Inc.
BERICAP
CL Smith
Georg MENSHEN GmbH & Co. KG
Mold-Rite Plastics
Comar
Blackhawk Molding Co., Inc.
Notable Developments
September 2023: Blue Ocean Closures partnered with Coca-Cola's EMEA R&D Center in Brussels to advance fiber-based screw cap development.
September 2022: BERICAP demonstrated innovative solutions for a safe and sustainable future at FACHPACK in Nuremberg, Germany.
Market Segmentation
By Diameter
18 mm - 33 mm
36 mm - 53 mm
63 mm - 100 mm
Above 100 mm
By Material Type
LDPE
HDPE
Polypropylene
Metal
Thermoset
Others (PS, PET, etc.)
By Neck Finish
400 (1 Thread Turn)
410 (1.5 Thread Turn)
415 (2 Thread Turn)
425 (2 Thread Turn)
Above 430 (More than 2 Thread Turn)
By End-use
Beverages
Food
Pharmaceuticals
Household
Cosmetics & Personal Care
Others
Regions Covered
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Countries Covered
U.S.
Canada
Brazil
Mexico
Argentina
Germany
Spain
Italy
France
U.K.
BENELUX
Nordic
Russia
Poland
China
India
ASEAN
Australia and New Zealand
Japan
South Korea
North Africa
South Africa
GCC Countries
Turkiye
Market Snapshot
Market Size in 2023: US$ 31.1 Bn
Market Forecast (Value) in 2032: US$ 40.5 Bn
Growth Rate (CAGR): 2.9%
Forecast Period: 2024-2032
Quantitative Units: US$ Bn for Value and Units for Volume
Market Analysis: Includes segment analysis, regional level analysis, qualitative analysis (drivers, restraints, opportunities, key trends, Porter's Five Forces Analysis, value chain analysis, and key trend analysis).
Competition Landscape: Market share analysis by company (2023), company profiles, product portfolio, sales footprint, key subsidiaries or distributors, strategy and recent developments, and key financials.
Format: Electronic (PDF) + Excel
The screw closures market is set for steady growth driven by the expanding food & beverage sector, rising demand for sustainable solutions, and technological advancements in closure design and material.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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