Global Crown Closures Market – Industry Trends and Forecast to 2029

Global Crown Closures Market, By Type (Metal, Plastic), Diameter (26 mm Crown Closures, 29 mm Crown Closures), Applications (Beer, Carbonated Soft Drinks, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

The soft drink/carbonated drink market is where the crown closures industry is most likely to see a growth in acceptance of the same. For instance, the Aluminum Closures Group reports that the usage of aluminum closures in the wine business is on the rise, with an expectation that by 2020, more than 30% of the world's bottled still wine will be sealed with aluminum. As a result the increased usage of crown closures across the beverages sector, the market is anticipated to witness an accelerated growth over forecast period.

Global crown closures market was valued at USD 1.10 billion in 2021 and is expected to reach USD 1.34 billion by 2029, registering a CAGR of 2.45% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Closures are an essential item that is used in food and beverage packaging. It is used in the lid to open a container of pickles or twisting the top off a jar of peanut butter among others.

Crown closures Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growth In Demand for the Packaged Foods

Packaging is anticipated to rise as a result of the rapidly expanding middle class and rising consumer spending on leisure and lifestyle improvements. Glass bottles with crown closures are in high demand for use in the packaging of beer and other alcoholic beverages.  As manufacturers use crown caps as a branding platform for their goods, which encourages impulse purchases, the need for beverage packaging is rising. Market expansion is being driven by rising demand for packaged beverages, especially beer and carbonated soft drinks, as well as rising adoption of crown closures across a range of industries.

Furthermore, some of the key factors influencing increased crown closure shipments include an increase in health consciousness driving consumption of healthy beverages and drinks, changing lifestyle preferences in urban cities, growing awareness of the advantages of crown closures in packaging, and rising per capita spending potential in emerging economies. The rising alcoholic beverage and spirits consumption, growing concerns about product safety and security, increased per capita consumption in emerging economies, and novel caps for shelf visibility are driving the global market for crown closures.

Opportunities

• Product Innovations and User-friendly Crown Closures

The key players have boosted the product innovations activities for the crown closures variants extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the crown closures are also user-friendly and recyclable, which will further expand the future growth of the crown closures market.

Restraints/Challenges

• Stringent Environment Regulations

According to projections, risks to the market include regulatory concerns over single-use plastics and environmental worries over their use. The expansion of the crown closure industry is being hampered by stringent environmental policies and regulations as well as tightening restrictions on landfill disposal. This factor will hinder the overall market growth over the forecasted period.

• Drawbacks of Plastic Crown Closures

The rising concerns regarding biodegradability and carcinogenicity of plastics further minimizes the usage of the plastic crown closures. This factor will further challenge the crown closures market growth rate.   

This crown closures market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the crown closures market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Crown Closures Market

The recent outbreak of coronavirus had a significant influence on the crown closures market. The COVID-19 pandemic of 2020 significantly impacted the markets and drastically changed how we live and work. Lockdown measures that were put in place to stop the spread of coronavirus infections had severe impacts on numerous businesses and markets on a global scale. As numerous end-use industries for crown closures were negatively impacted and experienced closures as a result of lockdown limitations in 2020, consumption of crown closures significantly decreased. During these times, supply chains were severely disrupted and manufacturing activity suffered, both of which had a significant influence on sales of crown closures.

Shipments of crown closures were significantly impacted by a decline in demand from significant end-use sectors including beer and carbonated soft beverages. It is still anticipated that the beverage industry would be a significant end-use business, driving crown closure consumption on a global scale. The crown closures market, however, is anticipated to recover gradually in the post-pandemic period and have moderate global expansion as things return to normal.

Recent Development

• In April 2021, Crown Holdings Inc., a well-known company in the caps and closures sector    disclosed that it has reached an agreement with KPS Capital Partners for the sale of its European Tinplate division. Crown Holdings will continue to control a 20% share in the company, which has 44 manufacturing locations spread across 17 different nations.
• In June 2021, BERICAP GmbH & Co. KG, a well-known company in the closure manufacturing sector, announced the purchase of Mala Verschluss-Systeme, a German producer of aluminium closures. With the help of this acquisition, new creative closing solutions that blend plastic and aluminium will be developed in order to produce sustainable products.

Global Crown Closures Market Scope

The crown closures market is segmented on the basis of type, diameter and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Metal
• Plastic

 Diameter

• 26 mm Crown Closures
• 29 mm Crown Closures

 Applications

• Beer
• Carbonated Soft Drinks
• Others

Crown Closures Market Regional Analysis/Insights

The crown closures market is analyzed and market size insights and trends are provided by country, type, diameter and applications as referenced above.

The countries covered in the crown closures market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the crown closures market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increased production and consumption of beer coupled with the dominant outlook of a few top crown closure manufacturers within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the favorable government policies as well as the rising demand for packaged foods, rising urbanization, increasing population and rising adoption of new packaging techniques in the countries such as China and India in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Crown Closures Market Share Analysis

The crown closures market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to crown closures market.

Some of the major players operating in the crown closures market are

• Group Plc (U.K.)
• Reynolds Group Ltd., (New Zealand)
• Crown Holdings Inc. (U.S.)
• Amcor plc (Australia)
• Rexam PLC (U.K.)
• Berry Global Inc., (U.S.)
• Silgan Holdings Inc. (U.S.)
• AptarGroup Inc. (U.S.)
• Guala Closures S.p.a (Italy)
• BERICAP (Germany)
• Astir Vitogiannis (Greece)
• AMD Industries Limited (India)
• Continental Crowns And Closures (India)
• Crown Seal Public Company Limited (Thailand)
• Finn-Korkki Oy (Finland)
• Manaksia Steels Limited (India)
• Nippon Closures Co., Ltd. (Japan)
• Oricon Enterprises Ltd (India)
• Viscose Closures Ltd. (U.K.)

 

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