The Crown Closures Market is projected to be valued at USD 1,096.1 million in 2023 and is expected to rise to USD 1,389.47 million by 2033. The sales of crown closures are expected to record a CAGR of 2.4% during the forecast period.
Crown closures are the final components of the packaging process. They are also one of the most important parts of the entire process on which the product's integrity is dependent. Crown closures are essential components of product packaging, and they play an important role in improving the functionality and aesthetics of the products.
They are currently used in various industries, including household goods, food and beverages, pharmaceuticals, cosmetics, etc. Marketing activities such as partnerships, product maximization, investments, and acquisitions drive the crown closure sales.
Furthermore, key manufacturers benefit from increased production, recyclability, and the introduction of sustainable and recyclable caps and closures.
Manufacturers focus on circular packaging by incorporating crown closures made of post-consumer resin (PCR) and other recyclable materials. Crown closures manufacturers are improving their recycling initiatives, attracting eco-conscious customers, and meeting market sustainability targets as a result of this.
Demand for demographic trends, easy-to-open and sustainable packs, and rapid urbanization all contribute to crown closures' demand for and adoption rate.
Carbonated drinks, ketchup, mayonnaise, bottled water, and alcoholic beverages are among the many applications for which these are widely used in the food and beverage industry. With rising demand, the export and import of caps and closures have grown tremendously.
| Attribute | Details |
|---|---|
| Market Estimated Size (2023) | USD 1,096.1 million |
| Market CAGR (2023 to 2033) | 2.4% |
| Market Forecasted Size (2033) | USD 1,389.47 million |
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Future Market Insights predict a comparison and review analysis of the dynamics of the crown closures market, which is principally subjected to an array of industry factors along with a few definite influences concerning the rapidly increasing preference for polyethylene (PET) bottles over glass bottles for packaging is expected to hinder the growth market for crown closures.
Some new advances that have taken place in the market are the use of anti-contaminating closures. In February 2022, the leading closure manufacturer BERICAP received the TOP100 approval seal as one of the innovative SMEs in Germany.
The market for crown closures is expected to rise by 20 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a surge in BPS change by 10 BPS has been noticed. Due to good sealing and barrier properties, crown closures are expected to surge the market demand.
Despite these projections, glass bottles with crown closures are in high demand for use in the packaging of beer and other alcoholic and non-alcoholic beverages.
The beverage industry has grown exponentially over the past few years and has seen profitable growth on a global level. The increasing consumption of beverages has subsequently driven the demand for crown closures. From 2018 to 2022, sales of crown closures rose at a sluggish CAGR of 2.1%.
Increase in health consciousness driving consumption of healthy beverages and drinks, changing lifestyle choices in urban cities, increasing consumption of alcoholic beverages and spirits, rising awareness about the benefits of crown closures in packaging, and increasing per capita spending potential in emerging economies are some key factors driving increased crown closure shipments.
Volatility in raw material pricing and stringent regulations by governments across the world on packaging materials is expected to restrict the crown closures market potential over coming years.
Demand for crown closures is predicted to rise at a CAGR of 2.4% from 2023 to 2033 due to the ongoing trend of making sustainable finished goods by various end-user industries associated with the crown closure market.
Principal Consultant
Consumption of crown closures is currently dominated by sales of aluminum crown closures, which account for 70.8% of total consumption in 2022.
The use of aluminum-based crown closures is increasing because they provide eye-catching visual appeal and easy-open convenience while extending product shelf life. This trend is expected to continue throughout the forecast period.
Steel segment to register a CAGR of 1.8% during the analysis period. On the other hand, steel is more sustainable and durable, thus gaining market traction. Steel closures are commonly used to cover beverage glass bottles, metal cans of food products, and pharmaceutical bottles.
The expansion of the food and beverage market has had a significant impact on the performance of the market. According to FMI's analysis, alcoholic beverages, particularly beer and wine, are expected to keep controlling the crown closures market.
While demand for crown closures is likely to be sustained by increased beer production and consumption, it has been observed that the emergence of superior packaging alternatives in the beverages sector is particularly translating into falling demand for crown closures in the carbonated soft drinks category.
The increase in disposable income in these two countries may supplement the growth of the crown caps market. Furthermore, according to the World Health Organization, China's total pure alcohol consumption per capita was 7.6 liters.
Due to its growing youth population with a preference for beer, India has seen a significant increase in beer consumption. Changing lifestyles and consumer preferences have significantly increased beer consumption in the Asia Pacific. Notably, China exported extensive beer in the Asia Pacific region, followed by Thailand and Singapore.
The Latin America crown closures market is expected to register a 2.6% CAGR over the forecast period, reaching USD 43,426.8 million by 2027 end.
Over the forecast period, the Latin America market is expected to become highly appealing. Shipments of crown closures are expected to rise steadily in Latin America as beer and sparkling wine production and consumption increase.
Given the increased consumption of alcoholic and non-alcoholic beverages in countries such as the United States and Canada, North America held a significant revenue share.
The introduction of new types of beverages in the region is expected to boost demand for its packaging products even more. For example, Truss CBD USA, a joint venture between Molson Coors Beverage Company and HEXO Corp., launched five types of CBD beverages in Canada in April 2021.
Due to the rising packaging product demand from various end-user industries such as food and beverage, cosmetics, and automotive, closures are likely to be in higher demand in the Middle East and Africa.
Consumption of prepared meals and processed foods is expected to rise in the MENA (the Middle East and North Africa) region, according to the report OECD-FAO Agricultural Outlook 2018 to 2027. This is expected to raise per capita vegetable oil consumption from 19 kg in 2018 to 22 kg in 2027.
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Key players in the market include Agropur Cooperative, AptarGroup Inc., BERICAP GmbH Co. & KG, Berry Plastics Corporation, Blackhawk Molding Company Incorporated, Capsugel Inc., Cap & Seal Pvt. Ltd., Closure Systems International, Crown Holdings Incorporation, Guala Closures Group, Oriental Containers, Pact Group Holdings, Phoenix Closures, and Pelliconi.
Companies are also focusing on obtaining recycled materials for the production of caps. Post-consumer recycled aluminum, steel, and plastic are being investigated as raw materials that can be processed further. Closure Systems International, for example, launched a beverage closure with 30% PCR content in October 2020 in collaboration with Coca-Cola to increase product sustainability.
Latest Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 2.4% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Diameter, By Material, By End-user Industry, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Astir Vitogiannis; Avon Crown caps & Containers Nigeria Limited; AMD Industries Limited; Continental Crowns and Closures; Crown Holdings Inc.; Crown Seal PCL; Finn-Korkki Oy; Manaksia Industry Ltd.; Nippon Closures Co. Ltd.; Oricon Enterprises Limited; Pelliconi & C. SPA; Samhwa Crown & Closure Co. Ltd.; Supertech-Crown Caps; TOKK Company; Viscose Closures Ltd. |
| Customization & Pricing | Available upon Request |
Sales are surging due to increasing demand for beverages in these regions.
Adoption is driven by factors such as increasing demand for beverages, strict regulations on food safety, and growing popularity of craft beer.
The United States is the largest market for crown closures and a major supplier of these products.
The Asia Pacific region is expected to present the most lucrative growth opportunities.
Use of recycled materials, development of new tamper-evident technologies, and increasing adoption in emerging markets.
1. Executive Summary | Crown Closures Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Diameter 5.1. 26 mm 5.2. 29 mm 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Aluminium 6.2. Metal 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Beer 7.2. Carbonated Soft Drinks 7.3. Other End Uses 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Astir Vitogiannis 16.2. Avon Crown Caps & Containers Nigeria Limited 16.3. AMD Industries Limited 16.4. Continental Crowns and Closures 16.5. Crown Holdings Inc. 16.6. Crown Seal PCL 16.7. Finn-Korkki Oy 16.8. Manaksia Industry Ltd. 16.9. Nippon Closures Co. Ltd. 16.10. Oricon Enterprises Limited 16.11. Pelliconi & C. SPA 16.12. Samhwa Crown & Closure Co. Ltd. 16.13. Supertech-Crown Caps 16.14. TOKK Company 16.15. Viscose Closures Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Crown Closures Market
