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	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	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)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of child resistant closure is estimated at USD 30.14 Billion.

The 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. Rising use of zip lock bags in packaging, increase in certified child proof packaging, and boost in healthcare industry are some major factors driving the growth of the market.

North America is anticipated to account for largest industry share by 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.

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.

Child Resistant Closure Market Trends