Crown Caps

Crown Caps

The Crown Caps Market is growing at a steady rate of 3.47% in the forecast period. This growth is driven by the increasing demand for packaged beverages, particularly in the alcohol and non-alcoholic beverage sectors, and the rising popularity of craft beer and premium drinks.

Crown caps, also known as bottle caps or crown corks, are widely used in the packaging industry for sealing bottles and containers, primarily for beverages such as beer, carbonated soft drinks, and other liquid products. These caps provide an airtight seal, ensuring the freshness and quality of the contents. For instance, in July 2023, Brazilian beverage producer Socorro Bebidas (Socorro) expanded its partnership with Crown Embalagens Metálicas da Amazônia S.A., a subsidiary of Crown Holdings, Inc. to launch Acquíssima Sabor flavored mineral water in 350ml (12oz) CrownSleek cans. Moreover, Total canned water volume in Brazil has increased by nearly 7x between 2021 and 2022, demonstrating a growing trend in the region for water packaged in aluminum and a continued shift away from tap and bulk water. Therefore, meteoric growth has been seen in the crown cap market globally. The crown caps market also benefits from the growing trend towards premiumization and craft beverages. Consumers increasingly seek unique and premium experiences, driving the demand for specialized packaging solutions that enhance the overall product appeal and brand image. Furthermore, manufacturing processes and materials advancements have enabled the development of more sustainable and eco-friendly crown caps. Many manufacturers are incorporating recycled materials and implementing environmentally friendly production methods to cater to the growing demand for sustainable packaging solutions.

• Based on the material, the crown cap market is bifurcated into aluminum steel, and tin-plated. The aluminum segment dominated the market in 2023 and is expected to dominate in the forecast period. This can be attributed to several key factors, such as sustainability and recyclability, lightweight and cost-effectiveness, and brand differentiation and customization. Aluminum is a highly recyclable material, aligning with the growing emphasis on environmental consciousness and sustainability in the packaging industry. Many beverage companies actively seek eco-friendly packaging solutions to reduce their carbon footprint and appeal to environmentally conscious consumers. For instance, Anheuser-Busch InBev, one of the world's leading brewers, announced its commitment to using 100% recyclable aluminum bottles and cans by 2025. This initiative includes using aluminum crown caps, which can be easily recycled alongside the containers, creating a closed-loop recycling system. Additionally, aluminum crown caps are lighter than their steel counterparts, which translates into reduced transportation costs and a lower overall carbon footprint associated with logistics. Additionally, the production process for aluminum caps is generally more cost-effective, making them an economical choice for manufacturers. For instance, in 2022, Ball Corporation, a major manufacturer of aluminum packaging products, unveiled its new line of lightweight aluminum crown caps designed to reduce material usage while maintaining performance and quality standards. This innovation contributes to sustainability efforts and offers cost savings for beverage producers.
• Based on application, the market is segmented into food and beverages. The beverage segment generated the most significant revenue in 2023 for the crown caps market and is expected to continue in the same fashion in the forecast period. The crown caps are widely used in packaging beverages such as alcoholic and non-alcoholic beers, carbonated soft drinks, energy drinks, and many other bottled beverages. In the last couple of years, a meteoric growth in packaged beverages has been driven by various factors such as urbanization, changing lifestyles, and convenience. For instance, The Coca-Cola company sold more than 1.9 billion servings of drinks in more than 200 countries daily. Therefore, as the consumption of packaged beverages rises, the demand for crown caps used in their packaging also increases correspondingly. Furthermore, companies are expanding their production facility to manufacture glass bottles to meet the consumer beverage demand. For instance, in September 2023, Coca-Cola Hellenic Bottling Company (HBC) invested €12 million (USD 12.7 million) into opening a new, high-speed line for returnable glass bottles at its Edelstal plant. The bottles will initially go on sale in Austria as one of Coca-Cola HBC’s twenty-nine markets. They will join the one-liter glass bottles currently available for Coca–Cola, Coca-Cola Zero Sugar, Fanta Orange, and Sprite drinks, which are said to help simplify production and logistics and reduce the sorting and reverse logistics in the market.
• For a better understanding of the market of the crown caps market, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American crown caps market is expected to dominate in the forecast period due to several factors, such as the presence of major beverage companies, the established packaging industry, and the growing demand for sustainable packaging. North America is home to some of the world's largest beverage companies, such as Coca-Cola, PepsiCo, Anheuser-Busch InBev, and Molson Coors Brewing Company. These companies have a significant demand for crown caps for their packaged beverages. For instance, in 2022, Coca-Cola reported selling over 1.9 billion beverage servings per day globally, a substantial portion of which would have required crown caps for packaging. Furthermore, the region has a well-established packaging industry with advanced manufacturing capabilities and a robust supply chain network, which has fueled the demand for the crown caps market. For instance, Ardagh Group, a leading supplier of infinitely recyclable beverage cans and bottles, announced the expansion of its aluminum beverage can production capacity in the United States. This investment was made to cater to the increasing demand for sustainable packaging solutions from major beverage companies in North America.
• Some of the major players operating in the market include Crown Holdings Inc., Astir Vitogiannis Bros SA, AMD Industries Ltd., Finn-Korkki Oy, Nippon Closure Co. Ltd, PELLICONNI & C.SPA, Samhwa Crown & Closure, Evergreen Resources, Viscose Closures Ltd, and Avon Crowncaps & Containers Nigeria Ltd.