Rising Government Regulations to Boost the Child Resistant Closure Market
In 2018, the global child resistant closures market was valued at US$ 1.60 Bn and expected to grow with a CAGR of 6.7% during the forecast period from 2019 to 2027. Child resistant closure market is growing due to worldwide increase in accidental drug intoxication cases among children below 5 years of age. To decrease these accidental cases government is taking initiatives to apply rules for child resistant packaging. For instance, in the U.S., the Poison Prevention Packaging Act (PPPA) listed some special products that should be packed with child resistant closures. Further, these products includes chemicals & cosmetics products, mouthwash products, and drugs & dietary supplements among others. As a result of aforementioned factors, we expect that the child resistant closures will show healthy growth throughout the forecast period.
Market Synopsis
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Pharmaceuticals segment to remain the largest segment During the Forecast Period
Based on end-user type, the child resistant closure market is segmented into pharmaceuticals, household & personal care, chemicals & fertilizers and food & beverage. Pharmaceuticals segment has the largest share in the market, accounting for more than 50% of the total market revenue. Pharmaceuticals has the largest share owing to compulsory child resistant packaging for prescribed and over the counter (OTC) drugs. Strict regulations by healthcare and drug regulatory organizations is the major factor for pharmaceutical industry dominance in child resistant closures market. Therefore, we expect that the pharmaceuticals industry will continue lead the child resistant closure market throughout the forecast period.
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North America to Remain Highest Revenue Contributor throughout the Forecast Period
North America was the leader in child resistant closures market accounted for more than 1/3rd of the market share in 2018. High regional market share is attributed to strict rules and regulations for child resistant packaging. Growth of pharmaceutical industry and government’s regulations to protect children’s from unintentional accidental poisoning, are the major growth drivers for child resistant closures market in the region. Wide application of child resistant closures in North America for different industries such as cosmetics, household, food & beverage, and pharmaceutical is another growth driver for the market. Due to these factors, we expect that North America region will be the leader during the forecast period.
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Some of the prominent players operating in the child resistant closures market Amcor plc., Ecobliss, Global Closure Systems, ABA Packaging Corporation, Ace Paper Tube Corporation, WestRock, Berlin Packaging, Berry Global, Inc., Airlite Plastics , Cincinnati Container Co., Crown Packaging International Inc., Cobra Plastics Inc., and Glass Vials Inc. among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The child resistant closures market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global child resistant closures market based on closure type, tamper evidence type, material type, end-user type and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Closure Type (2019–2027; US$ Bn)
• Push & Turn
• Squeeze & Turn
• Dropper Caps
|
|
Tamper Evidence Type (2019–2027; US$ Bn)
• Tamper Evident
• Non-Tamper Evident
|
|
Material Type (2019–2027; US$ Bn)
• Polypropylene
• Polystyrene
• Polyethylene
• Others (Metals, PVC, etc.)
|
|
End-User Type (2019–2027; US$ Bn)
• Pharmaceuticals
• Household & Personal Care
• Chemicals & Fertilizers
• Food & Beverages
|
|
Geography Segment (2019–2027; US$ Bn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- What was the market size of child resistant closures in 2018 and forecast up to 2027?
- Which is the largest regional market for child resistant closures?
- What are the major trends followed in overall child resistant closures across different regions?
- What are the key market trends and high-growth opportunities observed in the child resistant closures market?
- What are the drivers of the child resistant closures market?
- Which are the leading child resistant closures manufacturers worldwide?
- What are the key strategies adopted by the leading child resistant closures manufacturers?
Unique data points of this report
- Statistics on unintentional drug consumption worldwide
- Recent trends across different regions in terms of adoption of child resistant closures
- Notable on-going developments in the child resistant closures industry
- Attractive investment proposition for different segments of child resistant closures market
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
