The global child resistant closure market is segmented to packaging type such strip packs, push and turn caps, turn and lift, squeeze and turn and others. Among these segments push and turn caps segments are anticipated to flourish in the upcoming year. Child resistant closure market is booming across the globe on the account of growing usage of medicine and cosmetics. Growing awareness about the product safety among urban people is anticipated to impel the growth of the market. Further, in order to decrease the death rate ratio, child resistance closure has been developed by the manufacturers. It is one of the security purpose closure signifies as a last barrier and has an important part to play in solving the problems created between the infant and the packaged content.
Global child resistant closure market is expected to flourish at a significant CAGR of 5.9% during the forecast period. Rising consumer goods production, increasing urbanization, rising disposable income are some of the key factors driving the growth of the Child Resistant Closure Market. Moreover, the global child resistant closure market is expected to garner USD 2068.9 Million by the end of 2027.
Europe captured the largest market share in overall child resistant closure market and is expected to continue its dominance over the forecast period. Rising production of health care products, medicine and cosmetics items in the region is anticipated to aid the growth of the market. Further, increasing disposable income coupled with rising demand for packaged foods is expected to accelerate the growth of child resistant closure market in the upcoming years.
Asia Pacific child resistant closure market is anticipated to witness lucrative growth during the forecast period. Moreover, Middle East is anticipated to grow at modest CAGR during the forecast period.
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Robust Growth of Child Resistant Closure Industry
Rising urbanization coupled with increasing awareness among consumer towards better packaging in pharmaceutical industry is anticipated to be the dynamic factor behind the growth of child resistant closure market over the coming few years. Besides this, mandatory regulations by government of various countries for toxic items in order to include child packaging is another crucial factor anticipated to foster the growth of child resistant closure market between 2017 and 2024.
Government Regulation and Enactment of Child Resistant Closure
Strict government regulations and procedures such as Food and Drug Administration (FDA) in some of the countries have led a positive impact on child resistance closure which is further likely to bolster the growth of child resistant closure market in future.
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In contrast, production of high quality child resistance closure is costlier along with strict testing procedure which may dampen the growth of child resistant closure market globally.
The report titled “Child Resistant Closure Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global child resistant closure market in terms of market segmentation by packaging type, by cap, by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global child resistant closure market which includes company profiling of ABA Packaging Corporation, Ace Paper Tube Corporation, Berlin Packaging, Berry Plastics Corporation, American Star Cork, Crown Packaging International, Cobra Plastics, Continental Glass & plastic, Airlite Plastic Corporation, Cincinnati Container corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global child resistant closure market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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