2024: Arabian Plastics Industrial Company Limited announced the start of operation of the manufacturing facility in Saudi Arabia. This would help the company ramp up the production of plastic caps & closures within the nation.
According to MarkNtel Advisors study, The Saudi Arabia Caps & Closures Market is estimated to grow at a CAGR of around 5.2% during the forecast period, i.e., 2024-30.
In recent years, inhabitants residing in Saudi Arabia have become highly conscious of the environmental impacts of packaging. Based on the consumer survey, around 63% of individuals in Saudi Arabia are mindful of the harmful effects caused by packaging. As a result, there is a clear transition toward the adoption of recyclable materials in the packaging industry. Moreover, this inclination is also compelling manufacturers to innovate and integrate sustainable materials into the production of caps and closures. For instance, in 2024, CJ Biomaterial, in partnership with Beyond Plastic, introduced the 100% biodegradable plastic bottle cap. This increasing launch of eco-friendly products is helping the top companies align with international sustainability trends and also cater to the evolving preferences of environmentally conscious customers. Additionally, several end-user industries are likely to opt for sustainable packaging solutions that meet the demands of modern consumers and open up new avenues for market growth and differentiation in a competitive landscape during 2024-2030.
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Market Growth Driver: Over the years, the prevalence of diseases in Saudi Arabia has drastically increased owing to factors like genetic predisposition & lifestyle changes. Based on the clinical research conducted by the National Institute of Health (NIH), the incidence of hypertension among men is approximately 17.7%, and that among women is about 12.5%. These rising health-related issues are highlighting the importance of medical drugs. As a result, private firms & official authorities are actively disbursing funds to develop the pharmaceutical industry. For instance, in 2023, the Public Investment Fund (PIF) in Saudi Arabia launched Lifera to enable the growth of the local biopharmaceutical sector in Saudi Arabia. These industries depend on caps & different closures to maintain the pressure & quality of the therapeutic drugs stored in bottles & tubes. Hence, the expansion of the pharmaceutical sector in Saudi Arabia to boost local drug manufacturing & enhance healthcare security is driving Saudi Arabia Caps & Closures Market growth.
Moreover, the government of Saudi Arabia would continue to allocate substantial funds to encourage the development of pharmaceutical units in the nation. This would consequently result in boosting the Saudi Arabia Caps & Closure Market during the forecast years.
Saudi Arabia Caps & Closures Market Key Players:
Takween Advanced Industries, Saudi Plastic Factory Co., Al-Amoudi Closures Manufacturing Company, Saudi Basic Industries Corporation (SABIC), Arabian Plastics Industrial Company Limited, ENPI Group, Al Watania Plastics, Al-Jabr Plastics Product Company, Al Suhaimi Holding Company, National Plastic Factory, and others
Market Segmentation Overview:
By Material
-Plastic
-Metal
-Others
Of them all, plastic constitutes a major market share in the Saudi Arabia Caps & Closures Market. Plastic caps have intrinsic properties such as cost-effectiveness, durability, and versatility. As a result, several industry verticals extensively utilize caps & closures made up of plastic material. Moreover, the plastics can be easily molded into diverse shapes by applying heat or pressure, making them ideal for producing a wide range of packaging solutions. This versatility allows market players to meet the specific demands of different products and industries, ensuring the continuous dominance of plastic and thereby increasing the market size.
By Product Type
-Tethered Caps
-Push/Pull Caps
-Screw Caps
-Others
By End User
-Food & Beverages
-Pharmaceuticals
-Consumer Goods
-Personal Care & Cosmetics
-Others
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By Region
- North
- South
- Central
The Saudi Arabia Caps & Closures Market Recent Development
2022: Saudi Basic Industries Corporation (SABIC) announced partnerships with Gualapack and Ella’s Kitchen to develop food caps made from recycled plastic waste.
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