Saudi Arabia Plastic Caps And Closures Market Size (2024 - 2029)

Saudi Arabia Plastic Caps and Closures Market Analysis

The Saudi Arabia Plastic Caps And Closures Market size is estimated at USD 1.29 billion in 2024, and is expected to reach USD 1.74 billion by 2029, growing at a CAGR of 6.17% during the forecast period (2024-2029). In terms of shipment volume, the market is expected to grow from 25.04 billion units in 2024 to 32.78 billion units by 2029, at a CAGR of 5.53% during the forecast period (2024-2029).

The study of Saudi Arabia's plastic caps and closure market focuses on significant packaging formats, including bottles, jars, and containers. It also delves into the demand and revenue generated from sales across various end-user industry verticals.

• Key market drivers include the rising adoption of oxo-degradable plastics, heightened demand from diverse industries, technological advancements enhancing barrier solutions, and the introduction of active and intelligent packaging to meet consumer demands. Saudi Arabia stands out as a leading market for plastic packaging in the Middle East, driven by its substantial consumer base and diverse industrial landscape, excluding the oil and gas sector.
• Within Saudi Arabia, the food and beverage sector is witnessing notable growth, outpacing other industries. The Saudi Arabian Ministry of Trade and Industry highlights the beverage and soft drink segment as a mature sector, dominating the country's food and beverage exports.
• The market is primarily attributed to rapid urbanization, which usually translates to increased consumer spending and production of consumer goods, a large expatriate population, and the changing dietary habits of resident citizens. Further, the country has been implementing several initiatives and regulatory reforms, such as Saudi Vision 2023 and the National Industrial Development and Logistics Program (NIDLP), that may increase regional industrial production. This is expected to create considerable demand for packaging products.
• On the supply side, the country is rich in raw materials (for rigid plastic packaging) owing to its oil and gas industry. Saudi Arabia is one of the largest producers of polyolefins in the Middle Eastern region. Additionally, the country's high consumption of plastic packaging products is witnessing the establishment of new production plants and lines to boost the production capacity of caps and closures.
• Challenges such as plastic recycling, the push for sustainable packaging, stringent government regulations, and competition from flexible plastic packaging are impeding market growth in Saudi Arabia. Packaging waste is escalating with the rise in takeaway and ready-to-eat food demand. To combat this, the Saudi Arabian government has enacted laws to curb plastic waste, prompting packaging companies to pivot towards biodegradable alternatives.

Saudi Arabia 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.

Saudi Arabia 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.