Publication Month: Aug 2022 | Report Code: TIPRE00029539 | No. of Pages: 182 | Category: Chemicals and Materials | Status: Published
The usage of child resistant closures is growing due to the increasing cases of accidental poisoning in children. The increasing regulations pertaining to the packaging of products containing harmful chemicals are one of the major drivers of the market. Moreover, the growing global pharmaceutical industry is contributing to the growth of child resistant closures market.
Children under six years old are the most vulnerable group at risk of drug poisoning as a few medicines appear attractive to them due to their distinct colors and small size. Adults need medicines for the treatment of chronic diseases that requires regular dosages. Some of them store medicinal drugs at home that can attract the attention of young children living in their homes; these drugs are usually colorful and small in size and the children can easily insert them into their mouths.
According to Research from the European Child Safety Alliance, every year, 3,000 children under the age of 14 die from acute poisoning in the European Union. However, many countries have imposed stringent regulations to control acute poisoning. For instance, the US Consumer Product Safety Commission imposed the Poison Prevention Packaging Act in 1970. This law is focused on reducing unintentional poisoning caused by medications and common household products. The law requires that prescription medications, over-the-counter medications, hazardous materials, and other household products be packaged with child resistant packaging. Such stringent laws and regulations are urging manufacturers to use child resistant closures to protect children from accidental drug poisoning, thereby driving the child resistant closures market growth.
In 2021, Asia Pacific held the largest revenue share of the global child resistant closures market, while North America is expected to account for the highest growth rate over the forecast period. North America is one of the prominent markets for child resistant closures due to the growth of the end-use industries across the region. The increasing emphasis on child health and wellbeing and the willingness of customers in the region to pay more for high-end products will help increase market share in the region. This region is showing more concern for child safety and adopting advanced child resistance packaging solutions to combat massive incidences of child poisoning, propelling the market's growth. Moreover, introducing new types of beverages in the region is expected to increase the demand for its packaging products in the coming years. For instance, in April 2021, a joint venture between Molson Coors Beverage Company and HEXO Corp., named Truss CBD USA, introduced 5 types of CBD beverages in Canada. Two of these beverages, including ‘The House of Terpenes Valencene & Sparkling Tonic’ and ‘Mollo 5 Lime’, use glass bottle packaging with child-resistant crown closures, while the other three products are packaged in metal cans.
Such product development by manufacturers within the end-use industries is propelling the demand for child resistant closures in North America.
|Market Size Value in||US$ 2,415.35 Million in 2022|
|Market Size Value by||US$ 3,444.40 Million by 2028|
|Growth rate||CAGR of 6.1% from 2022 to 2028|
|No. of Pages||182|
|No. of Tables||114|
|No. of Charts & Figures||81|
|Historical data available||Yes|
|Segments covered||Material, Closure Type, and End Use|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The unprecedented rise in COVID-19 cases across the region and the subsequent lockdown of numerous manufacturing facilities negatively influenced the child resistant closures market growth. In addition, the disruptions in manufacturing processes, research, and development activities restrained the market growth. However, the market revived due to the measures taken by governments of various countries, such as vaccination drives. The growing demand for child resistant closures from the food & beverage and pharmaceutical industries is propelling the market growth. Moreover, various players in the region are seeking more investment opportunities as businesses gain confidence in stabilizing economies and increasing demand for child resistant closures, thereby providing the impetus for market growth. For instance, in May 2021, Kelso & Company acquired a majority interest in C.L. Smith. This acquisition could assist the company in diversifying its product portfolio. Thus, all these factors are boosting the growth of the child resistant closures market after the onset of the COVID-19 pandemic.
Child resistant closures are an essential requirement, especially when it is related to pharmaceuticals. Despite a decrease in cases of accidental poisoning in recent years, accidental child poisoning remains a significant risk in several homes, with prescription medicines and over-the-counter presenting the most significant risk. Growing global sales of pharmaceuticals is a significant factor boosting the demand for child resistant closures. The growing demand for pharmaceutical products, such as over-the-counter drugs (OTC), is increasing the demand for these products. According to the IQVIA, during 2015-2020, the Brazilian, Chinese, and Indian pharmaceutical markets grew by 11.3%, 4.8%, and 10.0%, respectively, compared to the average market growth of 5.0% for the top 5 European Union markets and 4.9% for the US market. Additionally, the US medicines' spending increased by 12% in 2021.
Based on material, the global child resistant closures market is segmented into polypropylene, polyethylene, metal, and others. In 2021, the polypropylene segment accounted for the largest revenue share, and the polyethylene segment is expected to account for the highest CAGR over the forecast period. Polypropylene is a plastic-based packaging material. Polypropylene is considered one of the safest commercial plastics on the market. Child resistant closures are invariably made from plastic or have a high plastic content. The Environmental Protection Agency (EPA) considers polypropylene derived from petroleum to be a safer choice than other types of plastics. It is not known to cause cancer in humans and is less flammable as compared to other materials. Thus, it is manufacturers' preferred packaging material for manufacturing child-resistant closures, propelling the segment’s growth.
Berry Global Inc.; AptarGroup, Inc.; O.Berk Company; CL Smith; Georg MENSHEN GmbH and Co. KG; Tecnocap S.p.A.; United Caps; Van Blarcom Closures Inc.; HEINLEIN PLASTIK-TECHNIK GMBH; and BERICAP are the players operating in the child resistant closures market. These companies provide a wide range of product portfolios for the market. The companies have their presence in developing regions, providing lucrative market opportunities. Market players are developing high-quality, innovative products to meet customer requirements.
The "Global Child Resistant Closures Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global child resistant closures market trend analysis. The report aims to provide an overview of the market with detailed market segmentation.
The child resistant closures market is segmented into material, closure type, end use, and geography. Based on material, the global child resistant closures market is segmented into polypropylene, polyethylene, metal, and others. Based on closure type, the global child resistant closures market is categorized into push and turn, squeeze and turn, and others. Based on end use, the global child resistant closures market is segmented into pharmaceutical, household product, cosmetic and personal care, chemicals and fertilizer, food and beverage, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America.
Berry Global Inc.; AptarGroup, Inc.; O.Berk Company; CL Smith; Georg MENSHEN GmbH and Co. KG; Tecnocap S.p.A.; United Caps; Van Blarcom Closures Inc.; HEINLEIN PLASTIK-TECHNIK GMBH; and BERICAP are the prominent players operating in the global child resistant closures market.