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Child Resistant Closure Market Analysis by Closure Type (Strip Packs, Push & Turn, Squeeze & Turn, Dropper Caps, and Others); by Material Type (Polypropylene, Low-Density Polyethylene, and High-Density Polyethylene); and by End-User (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, Chemicals & Fertilizers, Automotive, Home Care & Toiletries, Cannabis, Tobacco, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • O.Berk Company, L.L.C. has acquired E.D. Luce Packaging, a wholesale distributor of bottles, jars, vials, containers, and prescription packaging.

  • Berry Global Inc. launched a child-resistant closure PalmSoft that enables consumers with arthritis to grip it more easily. This child-resistant closure provides an exceptional value with its innovative design and distinct feel, making it a great fit for beauty and personal care sector.

Global Child Resistant Closure Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~10%

Base Year Market Size (2022)

~ USD 25 Billion

Forecast Year Market Size (2033)

~ USD 48 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global child resistant closure market is estimated to garner a revenue of ~USD 48 billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 25 billion in the year 2022. The growth of the market is primarily attributed to reducing the risk of child poisoning by the ingestion of potentially dangerous items such as medications, household chemicals, and cosmetics. According to the Centers for Disease Control and Prevention, in the United States, each year, nearly 50,000 cases of child poisoning are reported in young children.

child resistant market overviewGet more information on this report:Request Sample PDF

The rise in dangerous accidental cases among children has become a major concern for pharmaceutical product packaging manufacturers in recent years. As a result, in order to reduce the mortality ratio, government bodies imposed stringent regulations requiring the use of child resistant closures on products whose consumption is estimated to endanger children's health.

Global Child Resistant Closure Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Use of Zip Lock Bags in Packaging – a zip lock bag, also known as a zipper bag, is a low-cost, flexible rectangular storage bag made of polyethylene or a nearly identical plastic that is sealed and opened repeatedly, either by a slider that works similarly to a zip fastener or by pinching all together two sides of a mechanical sealing mechanism. Such small steps by manufacturers and stringent norms by the government are expected to boost the child-resistant closure market in the upcoming years. It was found that in August 2022, India has become the largest exporter of zip lock bags in the world with a record number of shipments of nearly 14,780.

  • Boost in the Healthcare industryfor instance, the worldwide healthcare industry is estimated to garner a significant revenue of approximately USD 60 Billion in the year 2022.

  • Worldwide Boost in Cosmetic Industryfor instance, the global cosmetic industry is expected to reach USD 462 billion by 2027.

  • Increasing Trend of Urbanization - according to the figures provided by the World Bank, currently, the world's population living in cities is estimated to rise more than double to 6 billion by 2045.

Challenges

  • Stringent Regulatory Policies - child-resistant packaging (CRP), in general, is associated with medical containers. Regulatory bodies worldwide have set standards and hold industries responsible for creating safe and secure packaging and adopting practices needed to develop child-resistant packaging.

  • High Manufacturing Cost of Child Resistance Closure

  • Increasing Cost of Raw Materials

The global child resistant closure market is segmented and analyzed for demand and supply by material type into polypropylene, low-density polyethylene, and high-density polyethylene. Out of these, the polypropylene segment is anticipated to grow at a significant rate over the forecast period, backed by the rising production of polypropylene owing to its inexpensiveness, and chemical properties that make it more suitable for manufacturing varied types of caps, closures, and pouches. For instance, the global market volume of polypropylene is expected to touch around 100 million metric tons by 2029.

Global Child Resistant Closure Market Regional Synopsis

The North America child resistant closure market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. backed by the significantly increasing awareness for child resistance closures, growth of the pharmaceuticals industry, increasing demand for better packaging of medicines, and a notable boost in spending on medicines in the region. For instance, in the United States, people spent nearly USD 578 billion on medicines in 2021.

Child-Resistant-Closure-Market-Scope

Market Segmentation

Our in-depth analysis of the global child resistant closure market includes the following segments:

        By Closure Type

  • Strip Packs
  • Push & Turn
  • Squeeze & Turn
  • Dropper Caps

       By Material Type

  • Polypropylene
  • Low-Density Polyethylene
  • High-Density Polyethylene

         By End-User

  • Food & Beverages
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Chemicals & Fertilizers
  • Automotive
  • Home Care & Toiletries
  • Cannabis
  • Tobacco

Top Featured Companies Dominating the Global Child Resistant Closure Market

  • O.Berk Company, L.L.C.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Berry Global Inc.
  • ABA Packaging Corporation
  • Silgan Plastics LLC
  • Bericap Holding GmbH
  • Aptargroup, Inc.
  • Sun Grown Packaging
  • C.L. Smith Company
  • Airlite Plastics Co.
  • Blackhawk Molding Co, Inc.

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