Child Resistant Closures Market Size US$ 3.44 Billion by 2028, at a CAGR of 6.1% - Global Analysis of 18+ Countries across 5 Key Regions, 50+ Companies Scrutinized by The Insight Partners

Child Resistant Closures Market is projected to reach US$ 3.44 Billion by 2028 from US$ 2.42 Billion in 2022. It is estimated to grow at a CAGR of 6.1% from 2022 to 2028. In-depth market segmentation, deep dive regional and country level analysis of 18+ countries across 5 key regions, key company profiles and industry landscape to provide latest market initiatives and competitive landscape, impact of COVID-19 pandemic on ecosystem.

/EIN News/ -- New York, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to our new research study on Child resistant closures Market are used in packaging in numerous end use industries, such as pharmaceuticals and chemicals & fertilizers, to prevent accidental poisoning in children. The rising regulations for the implementation of child resistance packaging in numerous countries are driving the child resistant closures market growth. For instance, under the Poison Prevention Packaging Act, The United States Consumer Product Safety Commission (CPSC) dictates a set of rules concerning products commonly found in households, which has led to an increased number of end use industries to implement child resistant packaging. Novel markets such as cannabis-infused foods are further contributing to the market growth.

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Report Coverage	Details
Market Size Value in	US$ 2.42 Billion in 2022
Market Size Value by	US$ 3.44 Billion by 2028
Growth rate	CAGR of 6.1% from 2022 to 2028
Forecast Period	2022-2028
Base Year	2022
No. of Pages	182
No. 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; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Child Resistant Closures Market: Competitive Landscape and Key Developments

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.

In 2021, North America accounted for the largest share of the global child resistant closures market. The market in Asia Pacific is expected to grow at the highest rate during the forecast period. The US is one of the world's leading consumers of child resistant closures. According to the US Association of Home Appliance Manufacturers, there are more than 90 million clothes dryers in the US. Moreover, the rising number of double-income households in the country is also driving the demand for bathroom and bedroom fitted child resistant closures, which is further expected to boost the child resistant closures market over the forecast period.

Child resistant closures are designed to limit the danger of hazardous compounds that children accidentally ingest. The World Health Organization (WHO) considers child resistant closures one of the most effective methods for reducing accidental poisoning in children. It has minimized the incidence of medication-related deaths worldwide. Further, 74% of all medication poisonings in the UK are unintentional. Most of these high percentages of medication poisonings can be avoided with suitable packaging materials. Thus, the growing need for medicines across the globe and the need to prevent acute poisoning is boosting the demand for child resistant closures.

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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 it is expected to account for the highest CAGR over the forecast period. Based on closure type, the global child resistant closures market is segmented into push and turn, squeeze and turn, and others. In 2021, the push and turn segment accounted for the largest revenue share, and it is expected to account for the highest CAGR over the forecast period. 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. In 2021, the pharmaceutical segment accounted for the largest revenue share, and the household product segment is expected to account for the highest CAGR over the forecast period.

The market for child resistant closures is witnessing high demand due to increasing packaging regulations to avoid cases of accidental poisoning in children. Child resistant closures are prevalent in end use industries such as pharmaceutical and chemicals & fertilizers industry; however, novel end uses in the food & beverages industry, such as cannabis-infused food packaging, are expected to augment the growth of child resistant closures over the forecast period.

Cannabis, commonly known as marijuana, is a psychoactive drug obtained from the species of a flowering plant within the hemp family. Tetrahydrocannabinol (THC) is the main psychoactive agent and is among the prominent active compounds in the plant, including others such as terpenes and cannabidiol. Cannabis is widely consumed owing to its therapeutic and medicinal benefits. The cannabis-infused food has gained momentum globally due to the increasing popularity and consumption of cannabis by consumers. Cannabis-infused food and beverage made their first appearance in the market through baked goods such as cakes, brownies, and cookies. The other different varieties of cannabis-infused food and beverage products include popcorns, candies, gummy bears, chocolate bars, THC beverages, chips, and others. These food and beverage products are witnessing rapid growth due to increasing product innovation and new product launches by manufacturers. The legalization of cannabis in many countries for medicinal and recreational use fueled the demand for cannabis-infused food and beverage. In the US, under the Poison Prevention Packaging Act, it is mandatory to use child resistant packaging for the packaging of cannabis products. Such regulations are expected to propel the growth of the child resistant closure market during the forecast period.

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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. In 2021, the pharmaceutical segment accounted for the largest revenue share, and the household product segment is expected to account for the highest CAGR over the forecast period. The growth of the pharmaceutical industry across the globe, especially post the outbreak of the COVID-19 pandemic, has resulted in the largest share for the segment. The segment is expected to dominate the child resistance closures market over the forecast period.

The global child resistant closures market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2021, APAC 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. APAC comprises countries such as China, India, Australia, Japan, and South Korea. Developing countries, such as India and China, are manufacturing hubs for various end use industries of child resistant closures; therefore, resulting in a significant share for the region in the child resistant closures market.

The growth of the child resistant closures market is driven by the stringent regulations implemented for various packaging to prevent accidental deaths of children. The market is experiencing high growth prospects as the end use industries are growing at a significant pace. The increased introduction of novel products such as cannabis-infused foods has expanded the child resistant closures market as the product is not safe for children and requires mandatory child resistant packaging. Moreover, household products, chemicals, and fertilizers are increasingly being introduced with child resistant packaging, as these products have been the leading causes of accidental poisoning in children.

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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 inexpensive and does not suffer damage from sunlight, unlike other plastics, which has led the segment to register a high market share.

Based on closure type, the global child resistant closures market is segmented into push and turn, squeeze and turn, and others. In 2021, the push and turn segment accounted for the largest revenue share, and it is expected to account for the highest CAGR over the forecast period. The easy mechanism of push and turn closures and compatibility of the closure type with various bottles and packaging have resulted in significant market share for the segment.

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. In 2021, the pharmaceutical segment accounted for the largest revenue share, and the household product segment is expected to account for the highest CAGR over the forecast period. The growth of the pharmaceutical industry across the globe, especially post the onset of the COVID-19 pandemic, has resulted in the largest share for the segment. The segment is further expected to dominate the child resistance closures market over the forecast period.

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Impact of COVID-19 Pandemic on Child Resistant Closures Market Size

The COVID-19 pandemic hampered the growth of the chemicals & materials sector, which has further restricted the global child resistant closures market growth. Further, the implementation of preventive measures to combat the spread of SARS-CoV-2 has negatively impacted the growth of various industries. Industries, such as packaging, consumer goods, automotive & transportation, textiles, and building & construction, have been adversely affected by the sudden disruptions in operational efficiencies and value chains due to the sudden closure of national and international boundaries.

The global marketplace is recovering from the financial losses as governments of various countries have announced a relaxation in COVID-19-related restrictions. Manufacturers are allowed to operate at a full capacity, which is helping them to overcome the gap between the supply and demand sides. Additionally, the rising vaccination rate is boosting the overall growth of the industry. Moreover, the growing demand from the pharmaceutical and food & beverage industries is propelling the growth of the global child resistant closures market.

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