Crown Closure Market to Surpass 1340.24 Million by 2031 Driven by Rising Demand for Packaged Goods and User-Friendly Designs

The Crown Closure Market valued at USD 1100 Million in 2023, is projected to reach USD 1340.24 Million by 2031, reflecting a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period (2024-2031).

Crown closures, those essential caps that seal everything from beverages to pharmaceuticals, are a vital part of our everyday lives.  The market for these closures is driven by factors such as strategic partnerships, innovative product development, and a growing emphasis on sustainability.  Manufacturers are increasingly using recycled materials and promoting the recyclability of their closures to meet the demands of eco-conscious consumers.  With the ever-present need for convenient and easy-to-open packaging solutions, the future of crown closures remains bright.

While the market faces some challenges, such as the shift from glass bottles to PET bottles,  several factors are propelling growth forward.

This trend is highlighted by the recognition of BERICAP, one of Germany’s leading closures manufacturers, as a major innovator for its work on such closures in February 2022.

Major Key Players Included are:

Crown Holdings Inc., Group Plc, Amcor plc, Berry Global Inc., Guala Closures S.p.a, Rexam PLC, Reynolds Group Ltd., Silgan Holdings Inc., BERICAP, AptarGroup Inc. and others.

The Rise of the “Grab-and-Go” Lifestyle

A growing middle class with more disposable income fuels demand for packaged goods, including beverages. Glass bottles with crown closures remain popular, especially for beer and other alcoholic drinks. These closures offer convenience and a marketing advantage, as manufacturers use them to showcase their products and entice impulse purchases. This trend, combined with the overall rise in packaged beverages and the versatility of crown closures across industries, is propelling the market forward.

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Healthier Choices, Brighter Futures

The health and wellness movement is impacting the crown closure market as well. Consumers are increasingly seeking healthier drink options, a trend fueled by rising disposable income in developing economies. This shift in consumer preference presents an opportunity for crown closure manufacturers to develop solutions for packaging these new healthier beverages.

Innovation is Key

Market players are actively innovating and developing new and improved crown closure variants. These developments make it possible to close crowns for a bright future with an expanding market, in combination with the existing benefits of user-friendliness and recycling. Furthermore, consolidation through mergers and acquisitions in the crown closure industry is expected to rise, creating further growth opportunities for major players.

• Crown Holdings Inc.,a major manufacturer of caps and closures, sold its European Tinplate division to KPS Capital Partners in April 2021. The company, which operates in 17 countries, has a 20 % stake held by Crown.

Segment Analysis

By Material:

Aluminum dominates the crown closure market, accounting for over 69.8% of the share. This dominance is likely to continue as aluminum offers both aesthetics and convenience while ensuring product freshness. Steel, however, is gaining ground due to its sustainability and durability, finding application in beverage bottles, food cans, and even pharmaceuticals.

• Aluminum
• Steel

By End-User Industry

Beer dominates the crown closure market with a market share of 68%, driven by the booming beverage industry and evolving consumer preferences for alcoholic drinks. The choice of aluminum closures, which are visually attractive and easy to use, is a favorite among beer brewers, reinforcing their dominance. Additionally, fancier closures are emerging as brands leverage them to stand out and create a unique experience for beer drinkers.

• Beer
• Carbonated Soft Drinks
• Food
• Others

Regional Developments

The crown closure market in Asia-Pacific holds supreme position, with a projected share of 39%.

Booming populations in China and India, coupled with their rising disposable income, are driving a surge in beverage consumption, particularly beer. This trend is fueled by a youthful demographic increasingly drawn to this beverage. As beer consumption skyrockets across Asia-Pacific, regional manufacturers are not just meeting domestic demand. They are also exporting their crown closure solutions to quench the thirst of international markets, further solidifying their leadership position.

Geopolitical Tensions Having Negative Impact On The Market

The ongoing conflict in Ukraine has the potential to disrupt the market in several ways. Soaring energy prices, a consequence of the war, could increase production costs for crown closures across the entire manufacturing chain. Additionally, disruptions in global supply chains could make it harder to obtain raw materials, potentially leading to shortages and price hikes. Furthermore, economic slowdowns in major developed economies could dampen demand for crown closures as consumers tighten their spending belts.

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Key Takeaways From Crown Closure Market Report

• The report highlights the importance of innovation and user-friendly design in capturing market share. By prioritizing these aspects, your company can develop crown closures that meet evolving consumer needs.
• The report provides insights into this growing demand, allowing you to develop sustainable crown closure solutions that resonate with environmentally conscious consumers.
• The rise of the middle class in regions like Asia-Pacific is creating new market opportunities. The report helps you identify these emerging markets and tailor your strategies accordingly.
• Understanding segment dominance by material (aluminum vs. steel) empowers you to make informed decisions regarding material selection for your crown closures.
• The report dives deep into key end-user industries like beer and beverages, providing valuable insights into specific market demands and growth drivers within each sector.
• The report equips you with knowledge on how to navigate potential disruptions stemming from the Ukraine war and economic slowdowns, while also highlighting emerging trends like anti-contamination closures to capitalize on new market opportunities.

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Table of Contents – Major Key Points

1 Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2 Industry Flowchart

3 Research Methodology

4 Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5 Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6 Value Chain Analysis

7 Porter’s 5 Forces Model

8 Pest Analysis

9 Crown Closure Market Segmentation, By Diameter

9.1 Introduction

9.2 Trend Analysis

9.3 26 mm Crown Closures

9.4 29 mm Crown Closures

10 Crown Closure Market Segmentation, By Material

10.1 Introduction

10.2 Trend Analysis

10.3 Aluminum

10.4 Steel

11 Crown Closure Market Segmentation, By End-user Industry

11.1 Introduction

11.2 Trend Analysis

11.3 Beer

11.4 Carbonated Soft Drinks

11.5 Food

11.6 Others

12 Regional Analysis

13 Company Profiles

14 Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15 Use Case and Best Practices

16 Conclusion

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