Child Resistant Closure Market Size

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.