After a detailed analysis on the crown cork market, FMI recently published a new report on the crown cork market. As per the analysis, demand for crown corks holds a current market valuation of USD 1,069.1 million in 2024.
Going by this trend, demand could eventually rise and equate to a market valuation of USD 1,368.5 million, with a CAGR of 1.50% by 2034.
| Attributes | Details |
|---|---|
| Crown Cork Market Value for 2024 | USD 1,069.1 million |
| Crown Cork Market Value for 2034 | USD 1,368.5 million |
| Crown Cork Market Forecast CAGR for 2024 to 2034 | 1.5% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As key markets such as the United States and Europe attain maturity in the packaging sector, the scope for crown corks is poised to remain moderate in the next few years.
From recessionary pressures induced by a general economic slowdown and the COVID-19 pandemic, the market experienced sluggish expansion from 2019 to 2023, registering a 2.50% CAGR.
| Historical CAGR | 2.50% |
|---|---|
| Forecast CAGR | 1.50% |
The historical CAGR of 2.50% in the crown cork market reflects a sluggish growth trajectory over the specified period. Population growth, urbanization, and maintenance of disposable incomes have contributed to this historical growth by fueling demand for bottled beverages.
Innovations in crown cork designs and materials might have played a role in sustaining market growth by enhancing product appeal and functionality, further solidifying the position of the market as a reliable segment within the packaging industry.
The forecasted CAGR of 1.50% indicates a slackening in the growth rate of the crown cork market compared to historical trends. Factors contributing to this projected slowdown include market saturation in developed regions, shifting consumer preferences towards alternative packaging materials like PET or aluminium, and retained environmental consciousness leading to demand for more sustainable packaging solutions.
Despite the anticipated decrease in growth rate, the crown cork market is likely to remain a significant segment within the packaging industry, although with a more tempered growth trajectory, prompting companies to adapt their strategies to navigate evolving market conditions and maintain competitiveness.
Developing Need for Crown Corks in the Beverage Industry
The continued growth of the beverage industry, including sectors such as carbonated soft drinks, beer, and non-alcoholic beverages, serves as a significant reason for the crown cork market to propel.
As consumption patterns evolve and new beverage varieties emerge, the demand for crown corks is expected to increase, bolstering market growth.
Principal Consultant
Volatile Economic Conditions Recede the Market from Growing
Fluctuations in economic conditions, including currency exchange rates, inflation, and consumer spending patterns, impact the growth trajectory of the market.
Economic downturns lead to reduced consumer purchasing power and discretionary spending on bottled beverages, affecting demand for crown corks and dampening market growth.
Uncertainties surrounding global trade dynamics and geopolitical tensions can exacerbate market volatility, posing challenges for crown cork manufacturers operating in an interconnected global economy.
The below section shows the leading segment. Based on the material, the aluminium segment is accounted to hold a market share of 70.60% in 2024. Based on end-use type, the beverages segment is accounted to hold a market share of 85.30% in 2024.
Aluminium crown corks are highly favored due to their eco-friendly properties as it is infinitely recyclable without losing their quality, making them a sustainable choice for beverage packaging.
The continual shift in consumer preferences towards bottled beverages. Convenience, portability, and changing lifestyle patterns have led consumers to opt for bottled beverages over traditional alternatives.
| Category | Market Share in 2024 |
|---|---|
| Aluminium | 70.6% |
| Beverages | 85.3% |
Based on material, the aluminium sector is accounted to hold a market share of 70.6% in 2024.
Aluminium offers several advantages, containing lightweight properties, corrosion resistance, and excellent sealing capabilities, making it a preferred choice for beverage packaging.
The widespread adoption reflects manufacturers' and consumers' recognition of aluminium's suitability for preserving beverage quality while ensuring product integrity throughout distribution and storage processes.
Based on end-user type, the beverages sector is accounted to hold a market share of 85.3% in 2024.
Beverages encompass a wide range of products, enveloping carbonated soft drinks, alcoholic beverages, juices, and water, all of which rely on effective sealing solutions to maintain freshness, carbonation, and flavor.
The dominance of the beverages segment underscores crown corks' indispensability as a packaging solution for the beverage industry, propelling significant demand for both aluminium and other materials in crown cork production.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The table mentions the top five countries ranked by revenue, with India holding the top position.
The robust beverage industry, encompassing carbonated soft drinks, fruit juices, and alcoholic beverages, dominates the market in India.
With a flourishing economy and expanding middle class, India exhibits a high demand for bottled beverages, propelling significant utilization of crown corks as a primary packaging solution.
Forecast CAGRs from 2024 to 2034
| Countries | CAGR |
|---|---|
| United States | 1.6% |
| Germany | 1.1% |
| United Kingdom | 1.5% |
| China | 3.7% |
| India | 4.7% |
In the United States, the crown cork market is primarily utilized in the beverage industry, encompassing a wide range of products such as carbonated soft drinks, beer, cider, and bottled water.
The crown cork secures sealing properties, making it an ideal closure solution for preserving carbonation and freshness in these beverages. The popularity of craft beer and specialty beverages in the United States further drives the demand for crown corks, as smaller breweries often opt for this traditional closure method for their bottled products.
In Germany, the crown cork market finds significant utilization in the beverage sector, particularly in the beer industry, which holds a long-standing cultural significance.
German breweries commonly use crown corks to seal their beer bottles, maintaining the quality and preventing oxidation of the beverage.
In the United Kingdom, crown corks are predominantly used in the beverage packaging industry, serving as closures for bottled beverages ranging from traditional ales and ciders to soft and energy drinks.
The convenience and reliability of crown corks make them a preferred choice for beverage manufacturers seeking efficient and cost-effective packaging solutions.
The thriving craft beer scene and growing demand for premium bottled beverages further contribute to the market utilization of the crown corks in the industry.
Crown corks play an important role in preserving the freshness and carbonation of these beverages, especially as the urban population grows in China, leading to sustained demand for convenient, ready-to-drink packaged beverages.
The crown cork market in India is predominantly utilized in the beverage packaging sector, focusing on carbonated soft drinks, fruit juices, and alcoholic beverages.
As one of the world's fastest-growing economies with a burgeoning middle class, the Indian beverage market offers significant opportunities for crown cork manufacturers.
The widespread consumption of bottled beverages across urban and rural areas compels the demand for crown corks as a reliable closure solution, ensuring product integrity and shelf life for a diverse range of packaged beverages.
Continuous technological advancements and strategic partnerships are common strategies players employ to maintain competitiveness in the dynamic crown cork market.
Some of the key developments are:
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 1,069.1 million |
| Projected Market Valuation in 2034 | USD 1,368.5 million |
| Value-based CAGR 2024 to 2034 | 1.50% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | Material, End Use, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Crown Holdings Inc.; Amcor PLC; Silgan Holdings Inc.; Ball Corporation; Ardagh Group; Guala Closures Group; O.Berk Company; Technocap S.p.A.; Nippon Closures Co. Ltd.; Closure Systems International Inc. |
As of 2024, the market for crown corks is expected to be valued at USD 1,069.1 million.
The crown cork market is projected to expand at a CAGR of 1.50% between 2024 and 2034.
The aluminium segment is projected to dominate the industry.
By 2034, the market value of the crown cork is expected to reach USD 1,368.5 million.
India is likely the top-performing market, with a CAGR of 4.7%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 5.1. Aluminium 5.2. Steel 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Printer Type 6.1. 26 mm 6.2. 29 mm 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Beverages 7.1.1. Alcoholic Beverages 7.1.1.1. Beer 7.1.1.2. Wine 7.1.1.3. Spirits 7.1.2. Non-Alcoholic Beverages 7.1.2.1. Bottled Water 7.1.2.2. Carbonated Soft Drinks 7.1.2.3. Juice & Syrup 7.1.2.4. Milk & Other Dairy Products 7.2. Food 7.3. Pharmaceuticals 7.4. Cosmetics and Personal Care 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Nippon Closures Co. Ltd 18.2. Crown Holdings, Inc. 18.3. Pelliconi & C. SPA 18.4. Tecnocap LLC 18.5. Alucaps Mexicana 18.6. Starcrowns North America 18.7. Waterloo Container Company 18.8. Samhwa Crown & Closure Co., Ltd 18.9. Crown Seal PCL 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Packaging Insights
View Reports
Crown Cork Market
