Crown Closure Market Size Share, Trends & Growth, Industry Analysis Report 2024-2031

AUSTIN, TEXAS, USA, June 5, 2024 /EINPresswire.com/ -- “According to the SNS Insider report, the Crown Closures Market Growth was valued at USD 1100 Million in 2023 and is projected to reach USD 1340.24 Million by 2031.

The Crown Closure market's demand depends on a dynamic interplay between consumer preferences and industry trends.
On the consumer end, a growing health consciousness is driving a rise in demand for tamper-evident closures, particularly in the food and beverage sector. This translates to a projected rise of 18% in demand for closures with tamper-evident features by 2031. Additionally, the convenience factor remains paramount. Single-serve packaging with resealable closures is expected to witness a significant increase, driven by busy lifestyles and on-the-go consumption habits. This trend is particularly prominent in the bottled water and juice segments, where resealable caps are projected to capture a 40% market share by 2031.

While aluminum and plastic remain dominant, a 2023 SNS Insider report suggests 68% of global consumers are willing to pay more for eco-friendly packaging.
This pushes manufacturers to explore alternative materials like bioplastics, which often have higher upfront costs and require adjustments to existing production lines. Finally, counterfeiting continues to be a thorn in the side of the industry. A 2023 SNS Insider report estimates counterfeiting costs legitimate businesses globally a USD 117 billion annually. Implementing sophisticated anti-counterfeiting measures like radio frequency identification (RFID) tags adds another layer of complexity for Crown Closure manufacturers.

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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

The expanding e-commerce industry presents a unique set of demands.
The need for leak-proof and secure closures during transportation is propelling the growth of tamper-evident and child-resistant closures. Studies indicate that by 2031, nearly 70% of all e-commerce packaged goods will utilize closures with these functionalities. Sustainability also plays a crucial role. Consumers are increasingly opting for eco-friendly packaging solutions, leading to a projected rise of 12% in demand for closures made from recycled or bio-based materials by 2031.

Key Segmentation Highlights:
The beverage sector remains the dominant force, projected to account for over 55% of the market share by 2031. Here, aluminum closures dominate for their gas retention capabilities, crucial for carbonated drinks like beer and soda. However, a growing health-conscious consumer base is driving a slight shift towards plastic closures for bottled water and juices, particularly in regions with stricter recycling regulations. Food applications represent a significant and rapidly expanding segment, anticipated to reach a 20% market share by 2031.
Crown Closure Market Key Segments:

By Diameter
- 26 mm Crown Closures
- 29 mm Crown Closures

By Material
- Aluminum
- Steel

By End-user Industry
- Beer
- Carbonated Soft Drinks
- Food
- Others

Key Trends:
- Driven by eco-conscious consumers and stricter regulations, there's a rise in demand for recyclable and biodegradable closures. Leading manufacturers like Berry Global Inc. are introducing crown caps made from recycled plastic, providing to a market segment expected to reach 20% by 2031.

- This eco-friendly approach tackles concerns about deforestation linked to traditional materials. However, functionality remains paramount. Metal closures, particularly aluminum, still dominate the beverage industry due to their superior gas barrier properties.
- A 2023 SNS Insider survey revealed that nearly 70% of craft breweries still prefer aluminum crown caps for their superior ability to maintain beer carbonation.

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APAC countries are catching up rapidly, driven by rising disposable incomes and urbanization.
This translates to a significant demand for crown closures in these regions, particularly for metal closures due to their tamper-evident properties and extended shelf life. Latin America presents another exciting pocket of growth. Government investments in infrastructure development are propelling the construction sector, leading to a projected 12% rise in demand for crown closures for packaging cement and other building materials by 2031. Here, local players hold an advantage with their expertise in cost-effective and customized solutions.

Competitive Landscape:
Leading the pack are multi-national corporations like Crown Holdings and Silgan Dispensing, holding extensive global distribution networks and comprehensive product portfolios encompassing metal and plastic closures for various beverage and food applications. These companies hold a significant share exceeding 50%, leveraging their economies of scale and brand recognition.
However, regional players like Supertech Crown and Viscose Closures are carving a niche by providing to specific geographic demands and offering cost-competitive solutions.
This fragmentation intensifies in the plastic closure segment, where innovative startups like Aptar and Berry Global are making headway with specialized closures incorporating tamper-evident features and child safety mechanisms.
Interestingly, consolidation is also afoot, with mergers and acquisitions like Reynolds Group's purchase of Closure Systems International aiming to strengthen geographic reach and product offerings.

Key Takeaways:
- The growing demand for convenience packaging is creating opportunities for crown closures in the food sector. For instance, the use of crown closures on glass jars for jams, sauces, and condiments is gaining growth path, offering consumers a tamper-evident and resealable option.
- This trend is likely to be amplified by the rising popularity of home-cooked meals and on-the-go consumption.
- Manufacturers who prioritize eco-friendly materials and production processes can provide to the growing demand for responsible packaging solutions.

Table of Contents – Key Points
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
5.Value Chain Analysis
6.Porter’s 5 forces model
7.PEST Analysis
8.Crown Closure Market Segmentation, By Diameter
9.Crown Closure Market Segmentation, By Material
10.Crown Closure Market Segmentation, By End-user Industry
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape
14.Conclusion
Continue....

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SNS Insider | Strategy and Stats
+1 415-230-0044
info@snsinsider.com
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