NEW YORK, July 26, 2022 /PRNewswire/ — The pharmaceutical caps and closures market is expected to grow by $3.56 billion from 2020 to 2025, progressing at a rate CAGR of 11.59% according to the latest Technavio market report. The market for pharmaceutical caps and closures is fragmented and vendors are deploying various organic and inorganic growth strategies to compete in the market. The Pharmaceutical Caps & Closures Market Report offers insights on various market vendors including Amcor Plc, Berry Global Group Inc., Caps & Closures Pty Ltd., Closure Systems International Inc., O.Berk Co. LLC, Phoenix Closures Inc. ., Rochling SE, and Co. KG, Saudi Basic Industries Corp., Silgan Holdings Inc. and Tecnocap SpA, among others.
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Pharmaceutical Caps and Closures Market – Market Dynamics
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Driver: The key factor driving growth in the pharmaceutical caps and closures market is the development of tamper-evident and child-resistant packaging. Child-resistant packaging is a type of packaging with safety closures or lids. Reduces the risk of children ingesting hazardous materials. Child-resistant packaging is required for prescription drugs as well as over-the-counter drugs for both adults and children according to regulations.
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Challenges: Risks associated with the biodegradability and carcinogenicity of plastics will be a major challenge for the pharmaceutical caps and closures market during the forecast period. Pharmaceutical packaging relies heavily on the use of plastics, such as polyethylene, polypropylene, polyolefin, polyvinyl chloride, and polyethylene terephthalate. However, there are several concerns with the use of plastics for pharmaceutical packaging, especially regarding the biodegradability and carcinogenicity of the material.
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Pharmaceutical Caps and Closures Market: Segmentation Analysis
The pharmaceutical caps and closures market is segmented by material (plastic, metal, and rubber or cork) and geography (North America, EuropeAPAC, South Americaand MEA).
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material landscape – The growth of the pharmaceutical caps and closures market share by the plastic segment will be important for income generation. This segment is likely to be the fastest growing during the forecast period, as most manufacturing companies prefer plastic containers to metal and glass due to their lightweight and durable characteristics. One of the reasons for the growth of the market is the increasing demand for polyethylene terephthalate (PET) containers around the world, which translates into the demand for plastic caps and closures. The demand for plastic packaging is increasing in many sectors, including healthcare and food and beverage. In addition, the compatibility of plastic closures with other packaging materials, such as glass containers and gable-top cartons, encourages demand for plastic in this market.
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Geography Landscape – 32% of market growth will come from North America during the forecast period. United States and Canada are the key markets for pharmaceutical caps and closures in North America. However, the market growth rate in this region will be slower than the market growth in European, APAC and MEA regions. Increasing value of pharmaceutical exports from the US, rising healthcare spending, and increasing population aging will ease pharmaceutical caps and shuts of market growth in North America during the forecast period.
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Get ready to achieve excellent business results with this exclusive Pharmaceutical caps and closures market Technavio report. The report will include highlights of the overall market including frequently asked questions such as:
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What are the historical revenue figures and the estimated revenue figures, as well as the CAGR over the forecast time period?
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What is the current trend taking place in the market?
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What are the business tactics that will influence the competitive scenarios along with defining the growth potential of the market?
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What are the market drivers, restraints and challenges affecting the demand and growth of the market?
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Which regions and segments will gain massive revenue and emerge as market leaders in the coming years?
The competitive scenario envisaged in the Pharmaceutical caps and closures market The report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies in recent years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, make a strategic approach and boost your business goals with our Pharmaceutical Caps and Closures Market Forecast Report – Buy now!
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the rigid plastic packaging market The share is expected to increase by USD 75.47 billion between 2021 and 2026, with the market growth momentum accelerating at a CAGR of 6.5%.
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the metal can market The share is expected to rise to USD 7.59 billion between 2021 and 2026, with the market growth momentum accelerating at a CAGR of 2.64%.
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Market Scope for Pharmaceutical Caps and Closures |
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Report Coverage |
Details |
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Page number |
120 |
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base year |
2020 |
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forecast period |
2021-2025 |
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Growth momentum and CAGR |
Accelerates at a CAGR of 11.59% |
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Market growth 2021-2025 |
$3.56 billion |
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market structure |
Fragmented |
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YoY growth (%) |
9.57 |
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regional analysis |
North America, Europe, APAC, South America and MEA |
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Contribution to the real market |
North America at 32% |
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Main consumer countries |
US, China, Canada, Germany, and UK |
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competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
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Profiled companies |
Amcor Plc, Berry Global Group Inc., Caps & Closures Pty Ltd., Closure Systems International Inc., O.Berk Co. LLC, Phoenix Closures Inc., Rochling SE, and Co. KG, Saudi Basic Industries Corp., Silgan Holdings Inc., and Tecnocap SpA |
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market dynamics |
Major market analysis, market growth drivers and obstacles, fast and slow growing segments analysis, impact of COVID 19 and future consumer dynamics, market condition analysis for the forecast period, |
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Customization Scope |
If our report didn’t include the data you’re looking for, you can contact our analysts and get custom segments. |
Table of Contents
Executive Summary
market landscape
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market ecosystem
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Analysis of the value chain
Size of the market
Five Forces Analysis
Market segmentation by material
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Market segments
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Material Comparison
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Plastic: market size and forecast 2020-2025
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Metal – Market Size and Forecast 2020-2025
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Rubber or Cork – Market Size and Forecast 2020-2025
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Market opportunity by Material
Customer Landscape
Geographic Landscape
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Geographical segmentation
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Geographic Comparison
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North America – Market size and forecast 2020-2025
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Europe – Market size and forecast 2020-2025
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APAC – Market Size and Forecast 2020-2025
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South America – Market size and forecast 2020-2025
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MEA – Market Size and Forecast 2020-2025
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Main leading countries
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Market opportunity by geography
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market indicators
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market challenges
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market trends
Provider Landscape
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Provider Landscape
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landscape disruption
Supplier analysis
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Covered Providers
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Positioning in the market of suppliers.
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amcor plc
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global berry group inc.
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Caps & Closures Pty Ltd.
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International Locking Systems Inc.
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O. Berk Co. LLC
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phoenix closures inc.
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Rochling SE and Co. KG
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Saudi Basic Industries Corporation.
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Silgan Holdings Inc.
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Tecnocap SpA
Appendix
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