According to Future Market Insights research, during the projected period, the spout closures market is set to enjoy a valuation of US$ 2,565.9 million in 2023, and further expand at a CAGR of 4.7% to reach US$ 4,068.3 million by the year 2033. The sales of the spout closures market are projected to augment with the top 3 countries anticipated to hold approximately 25 to 30% of the market by the end of 2023.
In the spout closures market, the screw cap spout closures segment by product type is projected to hold approximately 45.7% of the market value share by the end of 2022. The reason behind the same is the high preference for optimum quality spout closures for various products.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 2,565.9 million |
| Market Size 2033 | US$ 4,068.3 million |
| Value CAGR (2023 to 2033) | 4.7% |
| Collective Value Share: Top 5 Companies (2023E) | 20 to 25% |
The global spout closures market accounts for around 3.6% of the global caps and closures market worth US$ 68.5 billion, in 2022.
According to the FMI analysis, the spout closures market reached US$ 2,456.7 million in 2022. The global spout closures market is anticipated to reach US$ 4,068.3 million by the end of 2033, registering at a CAGR of 4.7% from 2023 to 2033. The demand for screw cap spout closures segment by the product type is projected to bolster with the top 5 key players holding 25 to 30% of the global spout closures market by the end of 2023.
The spout closures market is projected to bolster with its different types of uses spout closures are used for plastic and metal pails. It is durable and has high tensile strength. A new forecast by FMI analysis estimates that spout closures market sales will propel during the foreseeable period and is anticipated to create a growth opportunity of US$ 1,611.6 million.
The surge in demand for a spillage protection packaging solution in various end-use industries is projected to augment the sales of the spout closures market. The spout closures market is anticipated to expand 1.7x the current market value during 2022 to 2032.
The global spout closures market witnessed a growth rate of 4.0% from 2017 to 2022 and reached 2,456.7 million in 2022 from US$ 2,020.8 million in 2017
To close or seal a container, such as a bottle, jar, jerry can, or pouch, a spout closure is utilized. It could be a plug, liner, cover, lid, or cap. Pull-out caps, push-on caps, and screw caps are the three types of spout closures most commonly used. Spout closures sales are determined by end-user demand. Spout closures are utilized in a variety of end-uses, including the chemical, food, beverage, personal care & cosmetics, and pharmaceutical/nutraceutical industries. Polyethylene (PE), polypropylene (PP), and polyethylene terephthalate are the three types of plastics used to make spout closures (PET). Depending on the viscosity of the liquid or some types of dry materials, different spout closures are suitable for various products. Spout closures come in a variety of sizes to accommodate the product and the size of the container while also ensuring a tight fit. Spout closures may come in a variety of types. Spout closure sales are boosted by the rising need for spillage-proof packaging solutions across a range of end-user sectors. Since spout closures are crucial for product packaging, these factors will likely lead to growth in the spout closures market in the near future. The market for spout closures is expected to see development prospects due to the rising trade in the pharmaceuticals and food sectors. Additionally, the advantages provided by the spout closures market gained favor across a range of end-use sectors. The global spout closures market is anticipated to boost during the forecast period owing to its various beneficial factors.
Spout closures are predominantly used in the pharmaceuticals industry as it meets the requirements of a variety of bottles jars, and containers. The demand for spout closures is consistently rising as this solution provides tamper-evident and child-resistant packaging options. Furthermore, the ability of these spout closures to provide secure and robust packaging for a wide variety of pharmaceutical products makes it popular among these end-users. The pharmaceutical industry has witnessed remarkable growth in recent years, and this is expected to continue in the foreseeable future. This is majorly attributed to the rising expenditure on healthcare and the penetration of leading pharma companies in emerging countries such as China & India. Moreover, a variety of spout closures such as snap, screw, push & pull caps, and closures are used frequently in the personal care industry to provide attractive and unique packaging. All these factors are likely to provide rewarding opportunities to the manufacturers in the spout closures market to capture a substantial share.
By product type, the screw cap segment holds the major portion of the global spout closures market. The screw cap spout closures market segment is projected to expand 1.6x the current market value. Screw cap spout closure helps a variability of important functions. The benefits offered by screw cap spout closures increase traction among the end-users such as high production, good quality, reduced time, reduce labor cost, and increased accurateness and it is very useful for end users industries.
The pharmaceutical/nutraceuticals segment is projected to make lucrative demand for the spout closures market for the duration of the forecast period. The pharmaceutical/nutraceuticals segment is estimated to register a CAGR of nearly 5.1% from 2022 to 2032. The increasing and rapid growth in e-commerce are creating demand for durable, safe, leakage-preventive, and secure pharmaceutical product packaging which directly affects the sales of spout closures.
India is expected to drive the demand for spout closures is expected to grow the market at the rate of 6.4% due to the easy availability of low prices as well as skillful manpower in India. According to the Invest India Government India is the largest provider of generic medicine globally. Thus, the largest manufacturer of the pharmaceutical & nutraceuticals industry in India is estimated to create growth opportunities for the spout closures market.
The spout closures market is projected to grow 1.5 times the current market value during the forecast period. The reason behind the same is the rising pharmaceutical sector in Brazil. Spout closures give better leakage preventive properties and it gives effective sealant to the material fill in container or bottles. According to the European Federation of Pharmaceutical Industries and Association, in Brazil, the pharmaceutical sector is emerging. Thus, the increasing pharmaceutical sector in Brazil is likely to create growth opportunities for the spout closures market.
The players involved in manufacturing spout closures are trying to focus on expanding their presence, product portfolio, and resources to meet the growing demand for spout closures in various regions. The key players are adopting merger/acquisition and expansion strategies. Some of the latest developments are as follows –
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Material Type, By Product Type, By Application, End-use, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan Countries; Baltic Countries; Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Berry Global Inc.; Silgan Dispensing Systems; Decap Closures Pvt. Ltd.; Weener; The Cary Company; MRP Mold-Rite Plastics; Bericap; O.Berk Company; Georg Menshen GmbH & Co.KG; MJS Packaging; Pipeline Packaging; Kaufman Container; Alameda packaging; Closure Systems International; Rieke |
| Customization & Pricing | Available upon Request |
The global spout closures market reached US$ 2,456.7 million in 2022.
The spout closures market expanded at a CAGR of 4.0% during 2017-2022.
By 2033, the global spout closures market is projected to reach US$ 4,068.3 million.
During 2023-2033, the global spout closures market is anticipated to register a CAGR of 4.7%.
The spout closures market is estimated to grow 1.7 times the current market value during the forecast period.
During the forecast period, the screw cap product type segment is likely to be the fastest-growing segment in the global spout closures market.
The increasing demand for safe and efficient packaging solutions is increasing the demand for spout closures market.
Berry Global Inc., Silgan Dispensing Systems, Decap Closures Pvt. Ltd., Weener, The Cary Company, MRP Mold-Rite Plastics, Bericap, O.Berk Company are the top players supplementing the sales of spout closures.
As per the FMI analysis, the China’s spout closures market is projected to expand at a CAGR of 5.9% during 2023-33.
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Spout Closures Market
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