Child Resistant Closures

Child Resistant Closures

Global Child Resistant Closures Market to Reach $2 Billion by 2027

Amid the COVID-19 crisis, the global market for Child Resistant Closures estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2027, growing at a CAGR of 3.9% over the analysis period 2020-2027. Push and Turn, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$1.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Squeeze and Turn segment is readjusted to a revised 3.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $404.9 Million, While China is Forecast to Grow at 7.1% CAGR

The Child Resistant Closures market in the U.S. is estimated at US$404.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$419.6 Million by the year 2027 trailing a CAGR of 7.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.

Other Closure Types Segment to Record 2.7% CAGR

In the global Other Closure Types segment, USA, Canada, Japan, China and Europe will drive the 2.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$111.4 Million in the year 2020 will reach a projected size of US$130.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$278 Million by the year 2027, while Latin America will expand at a 3.5% CAGR through the analysis period.

Select Competitors (Total 42 Featured) -

• Amcor Ltd.
• AptarGroup, Inc.
• Bericap GmbH Co. & KG
• Berry Global, Inc.
• Blackhawk Molding Co, Inc.
• C.L. Smith Company
• Closure Systems International, Inc.
• Georg MENSHEN GmbH & Co. KG
• Global Closure Systems
• Guala Closures Group
• Mold-Rite Plastics
• O.Berk Company LLC
• Parekhplast India Ltd.
• Plastic Closures Ltd.
• Silgan Plastics LLC
• Tecnocap SpA
• United Caps Luxembourg S.A.
• Weener Plastik GmbH

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