Morocco Plastic Caps And Closures Market Size (2024 - 2029)

Morocco Plastic Caps and Closures Market Analysis

The Morocco Plastic Caps And Closures Market size is estimated at USD 0.21 billion in 2024, and is expected to reach USD 0.37 billion by 2029, growing at a CAGR of 5.15% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 3.23 billion units in 2024 to 4.01 billion units by 2029, at a CAGR of 4.42% during the forecast period (2024-2029).

Morocco's plastic caps and closures market offers a cost-effective and customizable solution for product packaging. It finds extensive utility in food and beverage, personal care, and other industries that demand safe packaging solutions. Its rise in popularity can be attributed to its efficiency and cost-effectiveness.

• Major technological trends are reshaping the packaging sector. These trends include the surge in e-commerce, driving the need for shippable and convenient packaging. Additionally, the push for enhanced barrier qualities, product innovation, and the digitization of supply chains fuel technology integration into packaging materials.
• In the region, the expansion of the food and beverage market is propelled by a rising appetite and a heightened demand for processed and packaged foods. Primarily led by millennials, who favor single-serving and portable food and beverages, the demand for caps and closures is rising. Given its durability attributes, the market is increasingly favored in the country.
• The caps and closures market witnessed growth with the rise in retail business in the country. The food retail industry in Morocco is experiencing rapid growth. While traditional grocers still hold the majority share, modern retail channels like supermarkets, hypermarkets, discounters, and convenience stores have risen for the past two decades. This shift is fueled by urbanization and changing consumer buying patterns. Notably, the market is primarily controlled by established local players like LabelVie Group and Marjane Holding and more actively pursuing expansion strategies.
• In Morocco, Sumilon, a plastic recycling firm, has expanded its operations to meet the demand for recycled plastic. The company gained insights into Morocco's strengths, robust logistical networks, and established supply chains. Morocco had already secured free trade agreements with key players, including the EU, the US, and even Turkey. Aiming to attract companies like Sumilon and cultivate a cutting-edge industrial hub on Europe's doorstep, Sumilon Eco PET inaugurated its first recycling and repackaging facility. Such recycling efforts by companies might enhance plastic packaging products such as caps and closures.
• However, Morocco predominantly grapples with solid waste management, particularly non-biodegradable post-consumer plastics, from its packaging sector. According to World Bank, an alarming 6.26 kg of untreated plastic waste per kilometer of coastline finds its way into the Mediterranean Sea from Morocco every day. Every year, the Moroccan coastline leaks an alarming 75,000 tons of plastic waste into the marine environment, which translates to roughly 14 pounds every half mile. Such substantial plastic waste poses grave environmental risks and could impact Morocco's flexible packaging industry.

Morocco Plastic Caps and Closures Industry Segmentation

The scope of the study characterizes the plastic caps and closures market based on the raw material of the product, including PP, PE, PET, and other raw materials used across various end-user industries such as Food, Pharmaceuticals, Beverage, Cosmetics and 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 anticipated period. The market estimates and projections are based on the base year factors and arrived at top-down and bottom-up approaches.

Morocco Plastic Caps and Closures Market is Segmented by Resin(Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), and Other Plastic Materials), by Product Type(Threaded, Dispensing, Unthreaded, Child-Resistant), by End-User Industry (Food, Beverage (Bottled Water, Carbonated Soft Drinks, Alcoholic Beverages, Juices & Energy Drinks, and Others), Personal Care and Cosmetics, Household Chemicals, and Other End-User Industries). The report offers market forecasts and size in volume (Units) and value (USD) for all the above segments.