Market Research Report
Global Crown Closure Market - 2021-2028
|Global Crown Closure Market - 2021-2028|
Published: August 20, 2021
Content info: 180 Pages
Delivery time: 2 business days
Crown Closure Market Overview
The global crown closure market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Crown Closures are a necessary component of food and beverage packaging. It can be found in the lid of a pickle jar or the top of a jar of peanut butter, among other things. Beverage and food packaging both require closures. The closure is the doorway to the product, whether it's turning the lid off a jar of pickles or twisting the top off a jar of peanut butter.
Crown can collaborate with you to develop the appropriate innovative packaging design to move product off the shelf, thanks to a wide selection of closures and accompanying equipment, powerful decoration capabilities, and experienced technical expertise. The rising demand for packaged foods is a key element driving the market's expansion.
Crown Closure Market Dynamics
The crown closures market is divided into two categories: type and application. The growth of the various segments aids you in gaining information of the many growth variables that are projected to be prevalent throughout the industry, as well as formulating distinct tactics to help discover primary application areas and differences in your target markets.
The industry is predicted to rise due to the rising demand for packaged foods
As a result of expanding population and the resulting demand for packaged food, the crown closure market is predicted to increase. As a result, the packaging sector has seen a rise in demand for crown closures.
The rapidly rising middle class, as well as increased consumer expenditure on leisure and lifestyle enhancements, are expected to drive packaging quality up. In the packaging of beer and other alcoholic beverages, demand for crown closures and glass bottles is expected to expand significantly.
The demand for beverage packaging is increasing as manufacturers employ crown caps as a branding platform for their products, which aids in impulse purchases. The increased demand for packaged beverages, particularly beer and carbonated soft drinks, as well as the increasing acceptance of crown closures across a variety of industries, are driving market expansion
Anti-contaminating closures are in great demand in the alcoholic beverage industry, hence the market is expected to grow
Crown closures are widely used in the beverage sector, particularly in alcoholic beverages. Anti-contamination is critical for preserving and extending the shelf life of packaged goods. Anti-contamination is the main reason behind the high demand for crown closures in the alcoholic beverage industry.
Crown closures are also user-friendly and recyclable, which contributes to their continued expansion in the market. The global crown closures market is being driven by concerns about product safety and security, rising per capita consumption in emerging nations, and innovative caps for shelf visibility.
Limited recyling of plastic crown closures, is anticipated to hinder the growth
Strict environmental policies and regulations, as well as growing restrictions on landfill disposal, are limiting the growth of the crown closure business. Furthermore, growing plastic waste has resulted in more rigorous packaging rules, which apply to beverages and commodities as well.
According to the Plastic Industry Association, America consumed about 50 plastic bottles in 2016, with only 23% of them being recycled. The market is projected to be restrained by threats such as environmental concerns about moving away from single-use plastic and regulatory issues.
COVID-19 Impact Analysis
The global effects of the coronavirus illness 2019 (COVID-19) are already being felt, and the market will be considerably impacted in 2020. Flight cancellations, travel bans, and quarantines; restaurants closed; all indoor/outdoor events limited; over forty countries declared states of emergency; significant supply chain slowdown; stock market volatility; plummeting business confidence, increased public panic, and concern about the future have all been impacted by the COVID-19 epidemic.
Crown Closure Market Segment Analysis
By application, the crown closure market is classified into beer, carbonated softdrinks, and others.
Beer segment is expected to be the dominant type, during the forecast period
The expanding beverage sector is critical to the continued growth of crown closure sales, since alcoholic beverages, particularly beer and wine, are gaining substantial consumer momentum as a result of quickly changing lifestyles. Aluminum-based crown closures are becoming more popular because they provide a striking visual appeal and easy-open convenience while also extending the product's shelf life.
Beer makers have seen an increase in demand for bespoke crown closures in recent years, with brands seeing these packaging components as an effective branding tool. To help manufacturers create a distinctive opening experience to consumers, advanced technology has enabled brands to offer easy open crown closures.
Crown Closure Market Geographical Analysis
As beer consumption rises in Asia-Pacific, the region is expected to become the largest market for crown closures globally
Asia-Pacific is expected to develop at the fastest rate due to the presence of two densely populated countries, China and India. The expansion of the crown caps market will be aided by the increase in disposable income in these two countries. The expanding beverage sector is critical to the continued growth of crown closure sales, since alcoholic beverages, particularly beer and wine, are gaining substantial consumer momentum as a result of quickly changing lifestyles.
Beer consumption has increased significantly in India as a result of the country's growing younger population, which enjoys the beverage. As a result of changing lifestyles and client tastes, beer consumption has expanded dramatically throughout the Asia-Pacific area. As a result of the region's expanding need, regional businesses have grown to fulfil the demands of other countries, just as we have.
Crown Closure Competitive Landscape
The Crown Closure market is very competitive, owing to the presence of numerous global corporations. Some of the major players leading to the market's expansion include AMD Industries Limited, Continental Crowns and Closures, Crown Seal Public Company Limited, Nippon Closures Co., Ltd., Oricon Enterprises Ltd., Samhwa Crown & Closure, Viscose Closures Ltd., Astir Vitogiannis, Supertech-Crown Caps, Avon Crown caps, & Containers Nigeria Limited among others. Brand releases, acquisitions, and partnerships are among the major players' growth strategies, all of which are leading to the global growth of crown closure.
Crown Seal Public Company Limited
Overview: Crown Seal Public Company Limited was founded in 1968 with technological assistance from Nippon Closures Co., Ltd., a subsidiary of Japan's Toyo Seikan Group Holdings Co., Ltd. The Company has supplied its products to prominent clients both in Thailand and beyond, generating sales revenue of over 2,770 million Baht each year, thanks to its high-quality products and significant production capacity.
Nippon Closures Co., Ltd., Toyo Seikan Co., Ltd., Boon Rawd Brewery Co., Ltd., ThaiNamthip Co., Ltd., Serm Suk Public Co., Ltd., and Green Spot Co., Ltd. are among the company's major owners.
Product Portfolio: Crown Seal Public Company Limited is a manufacturer and distributor of crown caps, pilfer-proof caps, maxi caps, plastic caps, and composite caps, as well as hand-held capping machines and Maxi-Cap Sealing machines, are used as bottling and container seals for items such as carbonated drinks, milk, beer, whiskey, soda, drinking water, and medical supplies.
Key Developments: In 2014, the company merged with Davlyn Steel Corporation (Hong Kong) Co., Ltd. and Nippon Closures Co., Ltd. to start a new business called "PT. In the Republic of Indonesia, "Indonesia Caps and Closures" will produce and distribute caps and closures. Its registered capital was $5,750,000 US dollars, with 14,375 shares representing 25.0 percent of the registered capital.
The global crown closure report would provide an access to an approx. 53 market data table, 41 figures and 180 pages
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