Child Resistant Closure Market Trends

  • Report ID: 309
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Child Resistant Closure Market Trends

Growth Drivers

  • Rising Use of Zip Lock Bags in Packaging – a zip lock bag, also known as a zipper bag, is a low-cost, flexible rectangular storage bag made of polyethylene or a nearly identical plastic that is sealed and opened repeatedly, either by a slider that works similarly to a zip fastener or by pinching all together two sides of a mechanical sealing mechanism. Such small steps by manufacturers and stringent norms by the government are expected to boost the child-resistant closure market in the upcoming years. It was found that in August 2022, India has become the largest exporter of zip lock bags in the world with a record number of shipments of nearly 14,780.
  • Boost in the Healthcare industry – for instance, the worldwide healthcare industry is estimated to garner a significant revenue of approximately USD 60 Billion in the year 2022.
  • Worldwide Boost in Cosmetic Industry – for instance, the global cosmetic industry is expected to reach USD 462 billion by 2027.
  • Increasing Trend of Urbanization - according to the figures provided by the World Bank, currently, the world's population living in cities is estimated to rise more than double to 6 billion by 2045.

Challenges

  • Stringent Regulatory Policies - child-resistant packaging (CRP), in general, is associated with medical containers. Regulatory bodies worldwide have set standards and hold industries responsible for creating safe and secure packaging and adopting practices needed to develop child-resistant packaging.
  • High Manufacturing Cost of Child Resistance Closure
  • Increasing Cost of Raw Materials

Child Resistant Closure Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~10%

Base Year Market Size (2022)

~ USD 25 Billion

Forecast Year Market Size (2033)

~ USD 48 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Base Year

2024

Forecast Year

2025-2037

CAGR

9.9%

Base Year Market Size (2024

USD 30.17 billion

Forecast Year Market Size (2037)

USD 102.93 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Abhishek Anil


  • Report ID: 309
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of child resistant closure is assessed at USD 35.14 billion.

The child resistant closure market size was valued at USD 30.17 billion in 2024 and is likely to cross USD 102.93 billion by 2037, expanding at more than 9.9% CAGR during the forecast period i.e., between 2025-2037. Rising use of zip lock bags in packaging, increase in certified child proof packaging, and boost in healthcare industry will drive the market growth.

North America industry is anticipated to hold largest revenue share of 35% by 2037, backed by 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.

The major players in the market are O.Berk Company, L.L.C., Berry Global Inc., ABA Packaging Corporation, Silgan Plastics LLC, Bericap Holding GmbH, Aptargroup, Inc., Sun Grown Packaging, C.L. Smith Company, Airlite Plastics Co., Blackhawk Molding Co, Inc.
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