Press release
Crown Closure Market to Surpass USD 1340.24 Million by 2031 Owing to Growing Demand for Packaged Goods and Innovative Packaging Solutions
Innovative Packaging and Sustainable Practices Propel Crown Closure Market Growth
The Crown Closure Market is set for significant growth driven by increasing demand for packaged goods and the rising popularity of sustainable packaging solutions. Innovations in closure technology and heightened consumer focus on product integrity and convenience are also key contributors to this upward trajectory.
"According to the SNS Insider report, the Crown Closure Market Size valued at USD 1100 million in 2023, is anticipated to achieve a valuation of USD 1340.24 million by 2031, experiencing a compound annual growth rate (CAGR) of 2.5% throughout the forecast period from 2024 to 2031"
Market Report Scope
The Crown Closure Market encompasses various segments, including diameter, material, and end-user industries. Crown caps are essential for sealing a wide range of products, ensuring their safety, integrity, and visual appeal. They are extensively used in the food and beverage industry, pharmaceuticals, and other sectors. The market is driven by partnerships, product innovation, and a growing emphasis on sustainability. Manufacturers are increasingly utilizing recycled materials and promoting recyclability to attract eco-conscious consumers. With the rising demand for packaged goods and user-friendly solutions, the crown closure market is poised for steady growth.
Crown closures are crucial in maintaining the freshness and safety of beverages and food products. The market is bolstered by technological advancements and a strong focus on innovative, easy-to-open solutions. Additionally, the shift towards sustainable packaging practices, such as using recycled materials, is gaining momentum, aligning with global sustainability goals. The scope of the market includes various diameters and materials, catering to different industry needs, from beer to carbonated soft drinks, ensuring comprehensive market coverage.
Get a Free Sample PDF Copy of the Latest Research @ https://www.snsinsider.com/sample-request/4249
Major Players Listed in this Report 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
Market Analysis
The Crown Closure Market is poised for moderate growth despite several challenges. The introduction of anti-contamination closures is a noteworthy trend, addressing the rising concerns about product safety and integrity. BERICAP, a leading closure manufacturer, was recognized as a top innovator in Germany in February 2022 for its advancements in anti-contaminating closures. This innovation highlights the market's focus on enhancing product safety.
However, the shift from glass to PET bottles presents a challenge, potentially affecting sales of crown closures traditionally used with glass bottles. Nonetheless, the ongoing demand for anti-contamination closures and the continued popularity of glass bottles in the beverage industry provide a significant boost to the market. The preference for high-quality, visually appealing closures, especially in the beer industry, further supports market growth.
Segment Analysis
By Diameter:
- 26 mm Crown Closures
- 29 mm Crown Closures
By Material:
- Aluminum
- Steel
By End-User Industry:
- Beer
- Carbonated Soft Drinks
- Food
- Others
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 popularity of aluminum closures, known for their visual appeal and convenience, particularly among brewers, solidifies beer's dominance. Innovative and unique closures are emerging, allowing brands to stand out and create distinctive experiences for consumers.
Impact of Russia-Ukraine War on the Crown Closure Market
The ongoing Russia-Ukraine war significantly impacts the crown closure market. Escalating energy prices, a direct consequence of the conflict, are driving up production costs for crown closures, affecting the entire manufacturing chain from raw materials to finished products. Countries in the Middle East and North Africa, heavily reliant on wheat imports from Ukraine and Russia, face potential food insecurity. This situation could reduce disposable income, impacting beverage consumption, a critical market for crown closures.
Global supply chain disruptions due to the war complicate the procurement of essential raw materials, leading to potential shortages and price increases. Political instability in various regions could further dampen economic activity and consumer spending on non-essential goods, including beverages. Consequently, the crown closure market faces significant challenges in maintaining stability and growth amid these geopolitical tensions.
Impact of Economic Slowdown on the Crown Closure Market
An economic slowdown in major developed economies poses a threat to the crown closure market. Increased interest rates and potential government shutdowns could tighten consumer spending, particularly on non-essential goods like beverages. Supply chain disruptions arising from geopolitical tensions could hinder the availability of raw materials, causing potential shortages and price hikes for crown closures.
Demographic shifts in some developed nations, including aging populations and slowing labor force growth, could strain disposable incomes and overall economic activity. This scenario would negatively impact consumer spending on beverages, consequently affecting the demand for crown closures. The market's health hinges on the ability of developed economies to reignite productivity growth, a crucial factor in boosting living standards and consumer spending power.
Do you have any specific queries or need any customization research on Crown Closure Market, Enquire Now@ https://www.snsinsider.com/enquiry/4249
Key Regional Development
Asia-Pacific leads the crown closure market, projected to secure a 39% market share. This dominance is attributed to the massive populations in China and India and their increasing disposable incomes. The growing preference for beverages, particularly beer, among a youthful demographic fuels this trend. Additionally, the rise of custom crown closures reflects a shift in consumer preferences, allowing breweries to differentiate themselves and create memorable experiences for customers. As beer consumption surges across Asia-Pacific, regional manufacturers not only meet domestic demand but also export to international markets.
Global regions are witnessing growth in the crown closure market, driven by rising consumption of beverages and innovative packaging solutions. Latin America is seeing steady growth due to beer and sparkling wine production. North America's established beverage consumption habits and new product introductions, bolster its market. The Middle East and Africa experience significant growth due to increased demand for packaged goods in various sectors, including food and beverage.
Key Takeaways for Crown Closure Market Study
1. Innovation and Sustainability: The market is driven by advancements in closure technology and a strong focus on sustainable practices, with manufacturers increasingly using recycled materials.
2. Regional Dominance: Asia-Pacific leads the market due to its large population and growing disposable incomes, particularly driving beer consumption.
3. Challenges and Opportunities: While the shift from glass to PET bottles presents challenges, innovations like anti-contamination closures offer significant growth opportunities.
Recent Developments
- In April 2021, Crown Holdings Inc., a major player in the caps and closures market, sold its European Tinplate division to KPS Capital Partners while retaining a 20% stake. This division operates 44 facilities across 17 countries.
- In June 2021, BERICAP GmbH & Co. KG, a leading closure manufacturer, acquired German aluminum closure producer Mala Verschluss-Systeme. This acquisition aims to develop innovative and sustainable closure solutions by combining plastic and aluminum expertise.
Table of Contents - 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
Our Related Report:
Specialty Chemical Packaging Market Size: https://www.snsinsider.com/reports/specialty-chemical-packaging-market-4241
Bag Clips Market Size: https://www.snsinsider.com/reports/bag-clips-market-size-3924
Thin Wall Packaging Market Size: https://www.snsinsider.com/reports/thin-wall-packaging-market-3539
Security Paper Market Size: https://www.snsinsider.com/reports/security-paper-market-3039
Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
The Crown Closure Market is set for significant growth driven by increasing demand for packaged goods and the rising popularity of sustainable packaging solutions. Innovations in closure technology and heightened consumer focus on product integrity and convenience are also key contributors to this upward trajectory.
"According to the SNS Insider report, the Crown Closure Market Size valued at USD 1100 million in 2023, is anticipated to achieve a valuation of USD 1340.24 million by 2031, experiencing a compound annual growth rate (CAGR) of 2.5% throughout the forecast period from 2024 to 2031"
Market Report Scope
The Crown Closure Market encompasses various segments, including diameter, material, and end-user industries. Crown caps are essential for sealing a wide range of products, ensuring their safety, integrity, and visual appeal. They are extensively used in the food and beverage industry, pharmaceuticals, and other sectors. The market is driven by partnerships, product innovation, and a growing emphasis on sustainability. Manufacturers are increasingly utilizing recycled materials and promoting recyclability to attract eco-conscious consumers. With the rising demand for packaged goods and user-friendly solutions, the crown closure market is poised for steady growth.
Crown closures are crucial in maintaining the freshness and safety of beverages and food products. The market is bolstered by technological advancements and a strong focus on innovative, easy-to-open solutions. Additionally, the shift towards sustainable packaging practices, such as using recycled materials, is gaining momentum, aligning with global sustainability goals. The scope of the market includes various diameters and materials, catering to different industry needs, from beer to carbonated soft drinks, ensuring comprehensive market coverage.
Get a Free Sample PDF Copy of the Latest Research @ https://www.snsinsider.com/sample-request/4249
Major Players Listed in this Report 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
Market Analysis
The Crown Closure Market is poised for moderate growth despite several challenges. The introduction of anti-contamination closures is a noteworthy trend, addressing the rising concerns about product safety and integrity. BERICAP, a leading closure manufacturer, was recognized as a top innovator in Germany in February 2022 for its advancements in anti-contaminating closures. This innovation highlights the market's focus on enhancing product safety.
However, the shift from glass to PET bottles presents a challenge, potentially affecting sales of crown closures traditionally used with glass bottles. Nonetheless, the ongoing demand for anti-contamination closures and the continued popularity of glass bottles in the beverage industry provide a significant boost to the market. The preference for high-quality, visually appealing closures, especially in the beer industry, further supports market growth.
Segment Analysis
By Diameter:
- 26 mm Crown Closures
- 29 mm Crown Closures
By Material:
- Aluminum
- Steel
By End-User Industry:
- Beer
- Carbonated Soft Drinks
- Food
- Others
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 popularity of aluminum closures, known for their visual appeal and convenience, particularly among brewers, solidifies beer's dominance. Innovative and unique closures are emerging, allowing brands to stand out and create distinctive experiences for consumers.
Impact of Russia-Ukraine War on the Crown Closure Market
The ongoing Russia-Ukraine war significantly impacts the crown closure market. Escalating energy prices, a direct consequence of the conflict, are driving up production costs for crown closures, affecting the entire manufacturing chain from raw materials to finished products. Countries in the Middle East and North Africa, heavily reliant on wheat imports from Ukraine and Russia, face potential food insecurity. This situation could reduce disposable income, impacting beverage consumption, a critical market for crown closures.
Global supply chain disruptions due to the war complicate the procurement of essential raw materials, leading to potential shortages and price increases. Political instability in various regions could further dampen economic activity and consumer spending on non-essential goods, including beverages. Consequently, the crown closure market faces significant challenges in maintaining stability and growth amid these geopolitical tensions.
Impact of Economic Slowdown on the Crown Closure Market
An economic slowdown in major developed economies poses a threat to the crown closure market. Increased interest rates and potential government shutdowns could tighten consumer spending, particularly on non-essential goods like beverages. Supply chain disruptions arising from geopolitical tensions could hinder the availability of raw materials, causing potential shortages and price hikes for crown closures.
Demographic shifts in some developed nations, including aging populations and slowing labor force growth, could strain disposable incomes and overall economic activity. This scenario would negatively impact consumer spending on beverages, consequently affecting the demand for crown closures. The market's health hinges on the ability of developed economies to reignite productivity growth, a crucial factor in boosting living standards and consumer spending power.
Do you have any specific queries or need any customization research on Crown Closure Market, Enquire Now@ https://www.snsinsider.com/enquiry/4249
Key Regional Development
Asia-Pacific leads the crown closure market, projected to secure a 39% market share. This dominance is attributed to the massive populations in China and India and their increasing disposable incomes. The growing preference for beverages, particularly beer, among a youthful demographic fuels this trend. Additionally, the rise of custom crown closures reflects a shift in consumer preferences, allowing breweries to differentiate themselves and create memorable experiences for customers. As beer consumption surges across Asia-Pacific, regional manufacturers not only meet domestic demand but also export to international markets.
Global regions are witnessing growth in the crown closure market, driven by rising consumption of beverages and innovative packaging solutions. Latin America is seeing steady growth due to beer and sparkling wine production. North America's established beverage consumption habits and new product introductions, bolster its market. The Middle East and Africa experience significant growth due to increased demand for packaged goods in various sectors, including food and beverage.
Key Takeaways for Crown Closure Market Study
1. Innovation and Sustainability: The market is driven by advancements in closure technology and a strong focus on sustainable practices, with manufacturers increasingly using recycled materials.
2. Regional Dominance: Asia-Pacific leads the market due to its large population and growing disposable incomes, particularly driving beer consumption.
3. Challenges and Opportunities: While the shift from glass to PET bottles presents challenges, innovations like anti-contamination closures offer significant growth opportunities.
Recent Developments
- In April 2021, Crown Holdings Inc., a major player in the caps and closures market, sold its European Tinplate division to KPS Capital Partners while retaining a 20% stake. This division operates 44 facilities across 17 countries.
- In June 2021, BERICAP GmbH & Co. KG, a leading closure manufacturer, acquired German aluminum closure producer Mala Verschluss-Systeme. This acquisition aims to develop innovative and sustainable closure solutions by combining plastic and aluminum expertise.
Table of Contents - 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
Our Related Report:
Specialty Chemical Packaging Market Size: https://www.snsinsider.com/reports/specialty-chemical-packaging-market-4241
Bag Clips Market Size: https://www.snsinsider.com/reports/bag-clips-market-size-3924
Thin Wall Packaging Market Size: https://www.snsinsider.com/reports/thin-wall-packaging-market-3539
Security Paper Market Size: https://www.snsinsider.com/reports/security-paper-market-3039
Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US)
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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