Child Resistant Closures Market Scope
Child-resistant closures are the types of closures that are difficult for children below the age of 5 years to open and require the assistance of an adult. Such closures are specifically designed to prevent any hazard to children’s health from the accidental consumption of intoxicating substances or pharmaceutical products. The market has expanded at a promising pace in the past few years and continues to be driven at a steady pace. An increase in hazardous accidental cases among children has become a prime concern for manufacturers of medicinal product packaging and has led to significant growth of the global child-resistant closures market in the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Closure Systems International (United States), Silgan Plastic (United States), ABA Packaging Corp. (United States), Ace Paper Tube Corp (United States), Berlin Packaging (United States), Berry Plastics Corp. (United States), American Star Cork Co. Inc (United States), Airlite Plastics Corp. (United States) and All American Containers Inc. (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Child Resistant Closures market throughout the predicted period.
Closure Systems International (United States), Silgan Plastic (United States), ABA Packaging Corp. (United States), Ace Paper Tube Corp (United States), Berlin Packaging (United States), Berry Plastics Corp. (United States), American Star Cork Co. Inc (United States), Airlite Plastics Corp. (United States) and All American Containers Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Cincinnati Container Co. (United States), Crown Packaging International Inc. (United States), Cobra Plastics Inc (United States) and Glass Vials Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Child Resistant Closures market by Type , by Application (Pharmaceuticals, Household and Personal Care, Chemicals and Fertilizers, Food and Beverage and Automotive) and Region with country level break-up.
On the basis of geography, the market of Child Resistant Closures has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2019, American private equity firm Cerberus Capital Management has agreed to acquire packaging company Closure Systems International (CSI). CSI designs and manufactures closures and high-speed dispensing systems. The company provides a wide variety of closures to North American bottle and container manufacturers. This agreement applies to companies and related CSI facilities in North America, Costa Rica, and Japan.
In July 2020, the US company Closure Systems International launched the 38D-KL closure for dairy beverages. The company said the new product offers improved application performance and drop-down tamper evidence.
Poison Prevention Packaging Act (PPPA) enlisted products that should be packed using child-resistant closures. Some of these products include drugs and dietary supplements, chemical products, mouthwash products, and cosmetic products among others.
Influencing Trend:
Rising Demand for Drug Packaging in Pharmaceutical Industry
Market Growth Drivers:
Increasing Awareness Among Consumers in Emerging Consumers, Government Regulatory Procedures like FDA Driving the Market and Growing Packaging Industry across the Globe
Challenges:
Presence of the Unorganized Players
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Technological Development and Advancement in the Packaging and Child-Resistant Closures
Key Target Audience
Child Resistant Closures Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others