Press release
Crown Caps Market is Anticipated to Expand at a Healthy CAGR of 6.0% by 2028
Crown Caps Market
The Crown Caps Market is a rapidly growing global market with a compound annual growth rate (CAGR) of over 6% during the forecast by 2028. Crown caps, also known as bottle caps or snap tops, are used as closures for bottles and jars in food & beverage, pharmaceuticals, and other industries.
With the ability to produce a wide range of caps and closures for end-use industries including food and beverage, crown cap producers are prevalent in markets around the world. Glass bottles are often packaged with crown caps to prevent spillage of the stored contents. To meet the needs of the application, crown caps are made from materials such as tin and aluminum.
Manufacturers differentiate their crown caps by offering different colors and sizes to meet customer needs. For effective bottle packaging, crown caps feature a crown shape with prongs on the edges. Crown caps are tamper-evident caps that are difficult to reseal after initial opening. This lid minimizes spillage while providing tamper evidence.
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The crown cork market is expected to face several hurdles. However, a major driver for the growth of the global crown caps market is the increasing prevalence of smaller pack sizes. Carbonated soft drinks (CSD) and beer are witnessing high consumption and have grown in recent years.
Additionally, as more consumers seek to reduce their consumption of carbonated soft drinks and alcohol, especially beer, preference for smaller soda bottle sizes is expected to increase. This is expected to have a positive impact on increasing demand for crown stoppers. The effect is expected to be more pronounced in the Asia Pacific region. Therefore, the global crown caps market is likely to go through a turbulent phase during the forecast period.
Crown Cap Market: Drivers and Restraints
The global market for crown caps is expected to grow against the background of growth in the beverage industry. Crown stoppers are mainly used for packaging beverages in glass bottles. The beverage segment is subdivided into alcoholic and non-alcoholic beverages. The global market for crown caps is primarily driven by alcoholic beverage containers. The crown caps market is expected to grow over the forecast period.
Manufacturers use crown caps as a branding platform for product branding. This helps your product buying instinct. Despite the positive outlook, the global crown caps market faces some daunting challenges. For example, rising popularity of flexible, unsealed packaging is expected to hinder the global market for crown caps in the coming years.
Additionally, consumer migration from glass bottles to plastic bottles is expected to further hinder the growth of the global crown caps market. In addition, consumers are demanding simple and convenient packaging that facilitates product consumption and does not spill the contents. Ring caps are an alternative packaging solution to crown caps. The ring cap can be easily opened without an opener.
Crown Cap Market: Segmentation
By material type
• Aluminum
• Remark
Coating base
• Lined
• Lining
Base for end-use industries
• Food packaging
• Beverage packaging
• Liquor packaging
• Non-alcoholic beverage packaging
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Crown Caps Market - Regional Insights
Geographically, the global crown caps market is divided into seven major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. The crown caps market is expected to experience rapid growth in regions such as Asia Pacific excluding Japan, owing to increasing consumption of crown cap rigid beverage bottles. Therefore, the APEJ region is expected to witness above-average growth over the forecast period.
Crown Caps Market: Key Players
The company holding the largest share in the global crown caps market is Crown Holding, Inc. More local and regional players are expected to contribute to the global crown caps market.
This report is a compilation of first-hand information from industry analysts, qualitative and quantitative assessments, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of driving factors along with key market trends, macroeconomic indicators and segment-based market attractiveness. The report also maps the qualitative impact of different market factors across market segments and geographies.
Highlights of the report:
• A detailed overview of the top markets
• Changing market dynamics of the industry.
• Deep market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of major players and products offered
• Potential and niche segments, geographic areas with promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and improve their market position
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