Colombia Plastic Caps and Closures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 360.20 Million |
| Market Size (2029) | USD 418.30 Million |
| CAGR (2024 - 2029) | 3.04 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Colombia Plastic Caps and Closures Market Analysis
The Colombia Plastic Caps And Closures Market size is estimated at USD 360.20 million in 2024, and is expected to reach USD 418.30 million by 2029, growing at a CAGR of 3.04% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 10.56 billion units in 2024 to 12.14 billion units by 2029, at a CAGR of 2.83% during the forecast period (2024-2029).
Plastic caps and closures are pivotal in packaging and safeguarding products from dust, spills, and contamination. They are durable, recyclable, and economical, making them an ideal choice for manufacturers. In Colombia, the food and beverage industry heavily relies on ancillary packaging solutions, such as plastic caps and closures, to extend the product shelf life, especially with the rising demand for packaged beverages.
- Colombia One, a digital news publisher, reported an employment rate of 57.4% as of December 2023. With a rising employment rate, a growing demand for packaged beverages and food is growing, especially among busy lifestyles. Consequently, this surge in demand is set to boost the need for caps and closures nationwide. However, despite these positive trends, a recent hike in the value-added tax, from 16% to 19%, could dampen consumption levels in the short term for price-sensitive product categories.
- The surge in urbanization, coupled with a growing tourism sector, is amplifying the demand for raw materials and ingredients, catering to the tastes of locals and international visitors. As Colombian cities embrace heightened urbanization, a parallel surge in processed food consumption and evolving consumer preferences is evident. Notably, this trend creates a fertile ground for expanding health foods and organic products, buoyed by the government's robust backing of healthy living initiatives. Such factors are expected to push the country's need for processed and healthy beverages, increasing the opportunities for manufacturers of caps and closures.
- The plastic caps and closures market in the food and beverage industry is set to grow, driven by increasing demands for packaged food, bottled water, and non-alcoholic beverages. The surge in beverage sales is fueled by consumer preferences for high-quality, disease-free drinking water and the convenience and portability of bottled water.
- The Colombian caps and closures market encompasses a range of offerings, from different types of beverage bottles, such as natural and carbonated, to flavored, energizing, and functional water (enhanced with vitamins and minerals). This segment's success directly responds to the surging demand for more refined products, mirroring consumers' increasingly discerning palates.
- Plastic is one of the significant pollutants that results in environmental degradation, and awareness regarding its effects has been growing. Brand owners need help with environmental packaging regulations to diversify, hindering their ability to maintain consistent product designs. The country's government is spearheading public drives and initiatives to heighten awareness. The production and consumption of plastics, which are reliant on substantial fossil fuel usage, have been notably detrimental to the environment and climate. Consequently, there has been a marked impact on the consumption of plastic packaging in recent years.
Colombia Plastic Caps and Closures Market Trends
The Polyethylene Terephthalate Segment is Expected to Witness Significant Growth
- The increasing emphasis on recycled PET usage drives innovations in the design and manufacturing of PET caps and closures. Companies are developing solutions to maintain the quality and functionality of caps while incorporating recycled materials, which may lead to advancements in product technology.
- In December 2023, Postobón and Enka, firms committed to PET recycling in Colombia and supporting the circular economy, inked a decade-long deal. The agreement focuses on the supply of EKO PET resin crafted from post-consumer PET bottles.
- The large volume of plastic used in packaging, particularly in the food and beverage sector, creates a substantial demand for PET caps and closures. As consumers and companies increasingly focus on sustainability, there will be growing interest in packaging solutions incorporating recycled PET, boosting the market for PET caps and closures made from recycled materials.
- According to Zero Waste Europe in November 2023, Colombia produces approximately 1.4 million tons of plastic annually, of which 56% (about 700,500 tons) is packaging, bottles, containers, and packaging materials from various sectors. Of this amount, only 3% is effectively recycled.
- The food and beverage industry accounts for 40% of all packaging usage, ultimately reaching consumers. This situation highlights the significant gap between the country's plastic production and recycling efforts.
- Key players in the Colombian PET caps and closures market, like Amcor Group GmbH, predominantly cater to liquid beverages, including premium wines and spirits. These offerings come with a plethora of printing and texture options. Moreover, Amcor specializes in threaded caps of varying diameters tailored for sectors like healthcare, personal care, and home care, fueling market expansion.
- Colombia's prowess in plastic packaging is evident in its exports of caps, closures, and lids to nations like the United States, Ecuador, Peru, Mexico, and Chile, bolstering its market standing. Notably, the International Trade Centre (ITC) data revealed that Colombia's plastic caps and closures exports hit a notable USD 195.31 million in 2023.
The Personal Care and Cosmetics Industry to be the Largest End User
- Colombia's cosmetics sector is rapidly gaining momentum in Latin America, propelled by a surging consumer appetite for color cosmetics. Colombia, alongside Peru, Mexico, and Chile, emerges as a frontrunner in beauty product expenditure within the region. The rising beauty sector in Colombia is attributable to growing consumer spending and urbanization, which are accelerating the market’s growth.
- In Colombia, the market for personal care products, including creams, moisturizers, and makeup items, is witnessing a surge in demand for child-resistant caps and modern, aesthetic closures. This trend is significantly driving the market’s growth.
- Key players in the Colombian plastic caps and closures sector, such as Berry Global Inc. and Sonoco Products Company, are focusing on producing sustainable options. These include caps and closures crafted from recyclable materials like PET, PP, and PE, available in a spectrum of sizes and colors. Moreover, they are introducing more compact and user-friendly packaging, bolstering market expansion.
- Caps and closures are vital to a brand's aesthetics, serving as a primary touchpoint for consumers interacting with fragrances, beauty, or personal care items. They improve the visual appeal and safeguard the product, expanding its shelf life, shielding it from contaminants, and regulating oxygen levels. Dispensing closures in personal care and cosmetics are engineered for precise dosing, minimizing wastage, and assuring accurate application. Factors such as the rising demand for grooming products, the surge in online beauty product marketing, and the luxury beauty sector's innovations entice consumers toward premium, higher-priced offerings.
- The demand for plastic caps and closures is further underscored by Colombia's stature as a prominent exporter of beauty and makeup goods. These components are predominantly utilized in skincare, lotion, and cosmetic containers. Notably, data from the International Trade Centre (ITC) reveals that Colombia's cosmetic exports reached a value of USD 232.90 million in 2023, marking a notable 24.06% increase from 2022.
Colombia Plastic Caps and Closures Industry Overview
The Colombian plastic caps and closures market is fragmented with the presence of key players like Berry Global Inc., Amcor Group GmbH, Simex SAS, Weener Plastic Group BV, and Guala Closures SpA. The players in the market focus on new product development, partnerships, mergers and acquisitions, and collaborations to solidify their footprint in the Colombian market.
- January 2024: Tetra Pak, a Swedish packaging company with operations in Colombia, bolstered its sustainable product line in the European market. Teaming up with dairy giant Valio, Tetra Pak introduced a novel tethered cap crafted from 30% certified recycled polymers. This strategic move underscored Tetra Pak's commitment to sustainability and advances its goal of fostering a circular economy.
Colombia Plastic Caps and Closures Market Leaders
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Berry Global Inc.
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Amcor Group GmbH
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Simex SAS
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Weener Plastic Group BV
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Guala Closures SpA
*Disclaimer: Major Players sorted in no particular order
Colombia Plastic Caps and Closures Market News
- June 2024: Aptar Group Inc., a United States-headquartered company operating in Colombia, introduced its latest aerosol actuator, Maya, in North America. This innovative product, designed with a twist-to-lock feature, is not only accessible to North American consumers but also to a global clientele. Maya's versatile design caters to various products, including hair sprays, body sprays, and deodorants.
- October 2023: Berry Global Inc., a US firm with operations in Colombia, introduced a lightweight tube closure. Crafted from PET, PP, and PE materials, this closure is available in multiple sizes. It finds applications across a diverse spectrum, from personal care to pharmaceuticals and cosmetics.
Colombia Plastic Caps and Closures Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Ecosystem Analysis
- 4.4 Import and Export Data of Plastic Caps and Closures (HS CODE-392350)
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Increasing Demand from the Food and Beverage Industries
- 5.1.2 Rising Need for Recyclable Plastics to Push the Market's Growth
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5.2 Market Restraints
- 5.2.1 Environmental Concerns and Strict Regulations Surrounding Plastic Usage
6. INDUSTRY REGULATION, POLICY, AND STANDARDS
7. MARKET SEGMENTATION
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7.1 By Resin
- 7.1.1 Polyethylene (PE)
- 7.1.2 Polyethylene Terephthalate (PET)
- 7.1.3 Polypropylene (PP)
- 7.1.4 Other Resin Types
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7.2 By Product Type
- 7.2.1 Threaded
- 7.2.2 Dispensing
- 7.2.3 Unthreaded
- 7.2.4 Child-resistant
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7.3 By End-use Industries
- 7.3.1 Food
- 7.3.2 Beverage
- 7.3.2.1 Bottled Water
- 7.3.2.2 Carbonated Soft Drinks
- 7.3.2.3 Alcoholic Beverages
- 7.3.2.4 Juices and Energy Drinks
- 7.3.2.5 Other Beverages
- 7.3.3 Personal Care and Cosmetics
- 7.3.4 Household Chemicals
- 7.3.5 Other End-use Industries
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles*
- 8.1.1 Berry Global Inc.
- 8.1.2 Amcor Group GmbH
- 8.1.3 Simex SAS
- 8.1.4 Weener Plastic Group BV
- 8.1.5 Guala Closures SpA
- 8.1.6 Aptar Group Inc.
- 8.1.7 RPM Colombia SAS
- 8.1.8 Amfora Packaging SAS
- 8.1.9 Proplas SA
- 8.1.10 Tetra Pak International SA
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityColombia Plastic Caps and Closures Industry Segmentation
The scope of the study characterizes the plastic caps and closures market based on the product's raw materials, including PP, PE, PET, and other raw materials used across various end-user industries, such as food, pharmaceuticals, beverages, cosmetics, toiletries, and more, across the country. The research also examines underlying growth influencers and significant industry vendors, all of which help to support market estimates and growth rates throughout the study period. The market estimates and projections are based on the base year’s factors and arrived at through top-down and bottom-up approaches.
The Colombian plastic caps and closures market is segmented by resin (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP) and other resin types), product type (threaded, dispensing, unthreaded, and child-resistant), by end-use industries (food, beverage [bottled water, carbonated soft drinks, alcoholic beverages, juices and energy drinks, and other beverages], personal care and cosmetics, household chemicals, and other end-use industries). The market sizing and forecasts are provided in terms of volume (units) and revenue (USD) for all the above-mentioned segments.
| By Resin | Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | ||
| Polypropylene (PP) | ||
| Other Resin Types | ||
| By Product Type | Threaded | |
| Dispensing | ||
| Unthreaded | ||
| Child-resistant | ||
| By End-use Industries | Food | |
| Beverage | Bottled Water | |
| Carbonated Soft Drinks | ||
| Alcoholic Beverages | ||
| Juices and Energy Drinks | ||
| Other Beverages | ||
| Personal Care and Cosmetics | ||
| Household Chemicals | ||
| Other End-use Industries |
Colombia Plastic Caps and Closures Market Research FAQs
How big is the Colombia Plastic Caps And Closures Market?
The Colombia Plastic Caps And Closures Market size is expected to reach USD 360.20 million in 2024 and grow at a CAGR of 3.04% to reach USD 418.30 million by 2029.
What is the current Colombia Plastic Caps And Closures Market size?
In 2024, the Colombia Plastic Caps And Closures Market size is expected to reach USD 360.20 million.
Who are the key players in Colombia Plastic Caps And Closures Market?
Berry Global Inc., Amcor Group GmbH, Simex SAS, Weener Plastic Group BV and Guala Closures SpA are the major companies operating in the Colombia Plastic Caps And Closures Market.
What years does this Colombia Plastic Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Colombia Plastic Caps And Closures Market size was estimated at USD 349.25 million. The report covers the Colombia Plastic Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Plastic Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Colombia Plastic Caps and Closures Industry Report
Statistics for the 2024 Colombia Plastic Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia Plastic Caps And Closures analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
