Global Cap and Closure Market to expand at a 5.3% CAGR until 2034, reaching a Value of US$ 137.2 billion
NEWARK, Del., Jan. 23, 2024 /PRNewswire/ -- The Cap and Closure Market is estimated to reach a valuation of US$ 81.1 billion in 2024. The industry is projected to be worth US$ 137.2 billion by 2034, rising at a CAGR of 5.3% between 2024 and 2034. The dynamic market is witnessing significant growth driven by diverse industries and evolving consumer preferences. Caps and closures play a critical role in preserving the integrity of packaged products, ensuring freshness, safety, and convenience.
- NEWARK, Del., Jan. 23, 2024 /PRNewswire/ -- The Cap and Closure Market is estimated to reach a valuation of US$ 81.1 billion in 2024.
- The industry is projected to be worth US$ 137.2 billion by 2034, rising at a CAGR of 5.3% between 2024 and 2034.
- The dynamic market is witnessing significant growth driven by diverse industries and evolving consumer preferences.
- One key factor contributing to the expansion of the market is due to the rising demand in the food and beverage industry.