Child Resistant Closures Market: Current Analysis and Forecast (2024-2032)

Report Description

Child Resistant Closures Market Size & Forecast

The child resistant closures market was valued at approximately ~USD 22 Billion in 2023 and is expected to grow at a strong CAGR of around 6.5% during the forecast period (2024-2032) owing to the rising demand for child safety products.

Child Resistant Closures Market Analysis

The child resistant closures market has grown significantly recently, driven by increasing urbanization; increased consumer focus on child safety has boosted demand for child resistant closures. Also, the growing cases of child poisoning have influenced the child resistant closures market. Company collaborations, acquisitions, and innovative product launches drive the industry’s growth.

For instance, in January 2024, the API Group and its subsidiary Accredo Packaging, a manufacturer of more sustainable packaging solutions in the food and consumer products markets, collaborated with the Fresh-Lock team at Presto Products, a business of Reynolds Consumer Products, to introduce a first-of-its-kind flexible stand-up pouch coupled Fresh-Lock’s Child-Guard slider technology. The collaboration offered a child-resistant track that contains at least 25% PCR material while maintaining dependable protection and a recyclable child-safe closure.

Also, in February 2023, Berry launched a child-resistant PET bottle bundle for the pharma syrup market. The company introduced a comprehensive bundle solution to help customers capitalize on the increasing demand for child-resistant (CRC) and tamper-evident (TE) packaging for the pharmaceutical and herbal market for syrup and liquid medicines.

Child Resistant Closures Market Trends

This section discusses the key market trends that are influencing the various segments of the child resistant closures market, as identified by our team of research experts.

Polyethylene Segment Transforming Industry

The polyethylene (PE) segment is expanding in the CRC market due to several factors. Polyethylene (PE) holds unique characteristics that make it suitable for use in packaging; it is flexible, has good durability, and is chemically resistant. These characteristics make it ideal for use in the manufacture of child-resistant closures that are easy to operate while at the same time offering the necessary high level of security. Polyethylene is relatively cheap compared to other materials that can be used to create such structures, such as metal or other special polymers. Based on this, PE can be transformed into various shapes and sizes and thus produce a diverse child-resistant closure. Closures can be used in various forms and requirements of manufactured goods as well as incorporate complicated child-resistant features. This satisfies the needs of the consumers as far as packaging materials that are friendly to the environment are concerned. The technological advancements of polymers continue to unveil new polyethylene compounds that would enhance child protection while preserving the strength and durability of the material. In conclusion, the positive features, economic efficiency, production standards, and environmental considerations combined with the compatibility of polyethylene for various application requirements across various industries have led to an increase in the polyethylene segment in the child-resistant closures market. Therefore, in relation to the growing customer need for protective packaging solutions, polyethylene will effectively address these needs.

North America is Expected to Grow with Significant CAGR During Forecast Period

Within North America, the U.S. holds a major share of the market. The region’s rapid urbanization, rising investments in the consumer goods industry, the growing demand for child safety products owing to the rising demand for these products, innovative marketing strategies, company acquisitions, and the presence of several market players are the major factors boosting the market’s growth in the country.

• In April 2024,S.-based SnapSlide LLC, a packaging innovations company, introduced a line of no-torque, child-resistant caps. SnapSlide’s ergonomic design features a patented, sliding, two-step opening procedure allowing single-handed opening and closing while maintaining child resistance.

• In November 2022, U.S.-based TriMas Packaging launched a new Rieke two-piece child-resistant cap designed to be child-resistant and meet the requirements of older consumers.

Child Resistant Closures Industry Overview

The child resistant closures market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Amcor plc; C.L. Smith; SILGAN PLASTICS; BERICAP; Origin Pharma Packaging; AptarGroup, Inc; Berry Global Inc.; O.Berk Company, L.L.C.; Mold-Rite Plastics; UNITED CAPS.

In June 2024, Neopac received a Tube of the Year Award from the European Tube Manufacturers Association (ETMA) for the world’s smallest child-resistant tube. Polyfoil was named the winner in the contest’s Prototype category. The company’s 10mm Polyfoil tube with a child-resistant closure marks a breakthrough in compact and secure packaging. The tube is to become the smallest tube with a child-resistant closure.

In March 2023, Berry Global, an AIPIA member providing packaging and engineered products, launched an innovative child-resistant closure that integrates digital technology to improve medication adherence. The new Berry Digi-Cap digital closure is ideal for clinical trials, drug development, research, and academic studies. Patient behavior data can be analyzed to enhance medicine adherence and gain insights into its effectiveness relative to the prescribed regime.

In December 2021, specialty packaging solutions supplier Comar acquired injection and blow molded products manufacturer Omega Packaging to bring transformative packaging and medical solutions to market.

Child Resistant Closures Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, type portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global child resistant closures market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Child Resistant Closures Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global child resistant closures market were the three major steps undertaken to create and analyze the adoption of child resistant closures in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global child resistant closures market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the child resistant closures market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the child resistant closures market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as material type, closure type, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the child resistant closures market. Further, we conducted factor analysis using dependent and independent variables such as material type, closure type, and regions of the child resistant closures market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the child resistant closures market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global child resistant closures market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the child resistant closures market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global child resistant closures market in terms of types offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global child resistant closures market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of the material type, closure type, and regions in the global child resistant closures market.

The main objective of the Global Child Resistant Closures Market Study

The current & future market trends of the global child resistant closures market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the child resistant closures market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the material type, closure type, and regions.
• Define and analyze the regulatory framework for the child resistant closures
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the child resistant closures market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the child resistant closures market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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