Nordic Plastic Caps and Closures Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.25 Billion |
| Market Size (2029) | USD 1.42 Billion |
| CAGR (2024 - 2029) | 2.58 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nordic Plastic Caps and Closures Market Analysis
The Nordic Plastic Caps And Closures Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.42 billion by 2029, growing at a CAGR of 2.58% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 33.13 billion units in 2024 to 38.44 billion units by 2029, at a CAGR of 3.02% during the forecast period (2024-2029).
- European countries, notably Norway, Denmark, Sweden, and Finland, represent relatively smaller consumer markets. The burgeoning food and beverage sector in these nations can be attributed to a rising population, evolving consumer preferences, and an increased appetite for beverages, all driving the demand for a diverse range of plastic caps and closures.
- As per the International Trade Administration, the Swedish population is keenly interested in exploring novel products and cuisines. With a heightened focus on health, a surging appetite for fresh, organic, and 'free-from' food items amplifies the need for plastic caps and closures.
- The upsurge in tourism in Denmark and Sweden, coupled with a rising preference for non-alcoholic beverages such as energy drinks, fruit juices, bottled water, and carbonated soft drinks, is fueling the demand for plastic screw caps. Notably, UNESDA data highlights that in 2023, Denmark consumed 118.1 million liters of packaged water, while Sweden's consumption stood at 105.2 million liters.
- Key manufacturers in Denmark, Sweden, and Finland, such as Modulpac AB and Tetra Pak International BV, are channeling efforts into developing new products with enhanced design, quality, and mechanical attributes. To carve a niche in the market, these companies increasingly focus on offering bespoke and personalized cap and closure solutions, thereby driving market growth.
- The mounting environmental apprehensions surrounding plastic packaging, especially caps and closures in countries like Denmark, Sweden, and Finland, pose a significant challenge. The environmental repercussions of plastic packaging, including heightened pollution and adverse effects on local flora and fauna, impede market growth in the Nordic region.
Nordic Plastic Caps and Closures Market Trends
Polypropylene (PP) Segment is Estimated to Have the Largest Market Share
- Polypropylene (PP) material stands out for its superior rigidity, heat, water, and chemical resistance. Unlike PE, PP excels in high-temperature resistance but lags in low-temperature scenarios. Ethylene copolymers, like block PP and random PP, find packaging applications tailored to their specific characteristics. Notably, PP, being widely accessible, reigns as a top choice in the plastic packaging landscape in the Nordic region.
- Polypropylene material maintains its shape well, even when subjected to rough handling, and boasts impressive durability, making it the top pick for cap materials. Its resilience against breakage and bending further cements its appeal. These qualities are poised to drive the increasing adoption of polypropylene (PP) for caps and closures in the Nordic countries in the coming years.
- Manufacturers such as Bericap Holdings GmbH and Berry Global Inc. offer diverse caps and closures in the Nordic region. These include threaded, flip-top, child-resistant, and tamper-evident designs crafted from PE and PP materials and available in various hues and shapes. Notably, these companies prioritize using recycled plastics in their manufacturing processes.
- The surge in exports of lids, caps, and closures from Sweden to key markets like Norway, Germany, and Finland is a significant driver of market growth. Data from the International Trade Centre (ITC) revealed that Sweden's export value for these products rose from USD 84.41 million in 2022 to USD 85.71 million in 2023.
Beverage Segment is Expected to Dominate the Market
- Increasing consumer interest in tourism in Denmark, Sweden, and Finland is bolstering the Nordic region's economic landscape. Official statistics reveal a 22% surge in foreign overnight stays in Norway and an 11% increase in Sweden, attributed to their appealing climates and competitively priced holiday offerings compared to other European destinations. Additionally, the burgeoning food tourism trend in the Nordic region is further propelling market growth.
- Rising disposable incomes, especially in nations such as Sweden and Denmark, and escalating urbanization fuel the need for plastic caps and closures in the beverage sector. Soft drinks, known colloquially as soda or carbonated beverages, hold a prominent position in the non-alcoholic beverage landscape. With ingredients like water, sugar, artificial sweeteners, and flavorings, their broad popularity is poised to bolster the demand for beverage closures in the Nordic region.
- The demand for plastic caps and closures is on the rise in Nordic countries like Denmark, Sweden, Finland, and Norway, driven by the increasing consumption of non-alcoholic beverages, especially soft drinks. These beverages offer various flavors, formats, and packaging, catering to diverse drinking occasions. Data from UNESDA, a European soft drink association, reveals that in 2023, Sweden consumed 1,207.5 million liters of soft drinks, marking a 2.7% increase from the previous year. Similarly, Denmark saw its soft drink consumption climb from 805.3 million liters in 2022 to 849.8 million liters in 2023.
Nordic Plastic Caps and Closures Industry Overview
The Nordic plastic caps and closures market is consolidated, with players such as Berry Global Inc., Bericap Holding GmbH, Tetra Pak International BV, and Modulpac AB. To solidify their footprint in the market, the players focus on new product development, partnerships, mergers and acquisitions, and collaborations in the region.
- April 2024: Berry Global Inc., a US-based company with operations in Finland and Denmark, has unveiled its Premium Dispensing VersaCap closure tailored for the protein powder segment. This innovative closure boasts a composition of 25% post-consumer recycled (PCR) material. It is a food-contact safety certification and a design that ensures direct thread contact with the bottle, guaranteeing a leak-free seal.
Nordic Plastic Caps and Closures Market Leaders
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Bericap Holdings GmbH
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Berry Global Inc.
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Modulpac AB
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Tetra Pak International B.V
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Robinson PLC
*Disclaimer: Major Players sorted in no particular order
Nordic Plastic Caps and Closures Market News
- February 2024: Robinson PLC, a UK-based company operating in Denmark, exhibited its products at Packaging Innovations and Empack, hosted at Birmingham's National Exhibition Centre (NEC).
- October 2023: Berry Global Inc., a US-based company with operations in Finland and Denmark, has introduced the Slimline range, a lightweight tube closure solution. This range, crafted from PE and PP materials, spans diameters from 35 mm to 50 mm. The Slimline's design caters to diverse personal care and pharmaceutical uses, including skin care, body wash, and hair care.
Nordic 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
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Tourism Boosts the Food and Beverage Industry
- 5.1.2 Increasing Product Innovation in the Market
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5.2 Market Challenge
- 5.2.1 Growing Environmental Concerns Due to Plastic Packaging Waste
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 Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.)
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7.2 By Product Type
- 7.2.1 Threaded - Screw Caps, Vacuum, etc.
- 7.2.2 Dispensing
- 7.2.3 Unthreaded - Overcaps, Lids, Aerosol-based Closures
- 7.2.4 Child-resistant
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7.3 By End-user 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-user Industries
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles*
- 8.1.1 Amcor Group GmbH
- 8.1.2 Bericap Holding GmbH
- 8.1.3 Berry Global Inc.
- 8.1.4 Carmo A/S
- 8.1.5 Fin-Korkki Oy
- 8.1.6 Modulpac AB
- 8.1.7 Tetra Pak International SV
- 8.1.8 Robinson PLC
- 8.2 Heat Map Analysis
- 8.3 Competitor Analysis - Emerging vs. Established Players
9. RECYCLING AND SUSTAINABILITY LANDSCAPE
10. FUTURE OUTLOOK
** Subject To AvailablityNordic 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 and toiletries, and more across various regions. 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.
Nordic plastic caps and closures market is segmented by resin (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP) and other plastic materials), by product type (threaded- screw caps, vacuum, etc., dispensing, unthreaded- over caps, lids, and aerosol-based closures, and child-resistant), by end-user 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-user industries). The market sizing and forecasts are provided in terms of volume (units) and revenue (USD) for all the above segments.
| By Resin | Polyethylene (PE) | |
| Polyethylene Terephthalate (PET) | ||
| Polypropylene (PP) | ||
| Other Plastic Materials (Polystyrene, PVC, Polycarbonate, etc.) | ||
| By Product Type | Threaded - Screw Caps, Vacuum, etc. | |
| Dispensing | ||
| Unthreaded - Overcaps, Lids, Aerosol-based Closures | ||
| Child-resistant | ||
| By End-user Industries | Food | |
| Beverage | Bottled Water | |
| Carbonated Soft Drinks | ||
| Alcoholic Beverages | ||
| Juices and Energy Drinks | ||
| Other Beverages | ||
| Personal Care and Cosmetics | ||
| Household Chemicals | ||
| Other End-user Industries |
Nordic Plastic Caps And Closures Market Research FAQs
How big is the Nordic Plastic Caps And Closures Market?
The Nordic Plastic Caps And Closures Market size is expected to reach USD 1.25 billion in 2024 and grow at a CAGR of 2.58% to reach USD 1.42 billion by 2029.
What is the current Nordic Plastic Caps And Closures Market size?
In 2024, the Nordic Plastic Caps And Closures Market size is expected to reach USD 1.25 billion.
Who are the key players in Nordic Plastic Caps And Closures Market?
Bericap Holdings GmbH, Berry Global Inc., Modulpac AB, Tetra Pak International B.V and Robinson PLC are the major companies operating in the Nordic Plastic Caps And Closures Market.
What years does this Nordic Plastic Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Nordic Plastic Caps And Closures Market size was estimated at USD 1.22 billion. The report covers the Nordic Plastic Caps And Closures Market historical market size for years: . The report also forecasts the Nordic Plastic Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nordic Plastic Caps And Closures Industry Report
Statistics for the 2024 Nordic Plastic Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nordic 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.
