Child Resistant Closure Market size was over USD 27.45 Billion in 2023 and is poised to cross USD 92.55 Billion by the end of 2036, witnessing more than 9.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of child resistant closure is estimated at USD 30.14 Billion. 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.
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.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
9.8% |
|
Base Year Market Size (2023) |
USD 27.45 Billion |
|
Forecast Year Market Size (2036) |
USD 92.55 Billion |
|
Regional Scope |
|
Material Type (Polypropylene, Low-Density Polyethylene, High-Density Polyethylene)
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.
Our in-depth analysis of the global child resistant closure market includes the following segments:
|
By Closure Type |
|
|
By Material Type |
|
|
By End-User |
|
North America Market Forecast
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 2036. 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.
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.
Author Credits: Abhishek Anil
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?