Crown Caps Market - Overview
The global market for crown caps is marked by the presence of cap manufacturers with capabilities to manufacture a diverse range of caps and closures for end use industries such as food and beverages. Crown caps are widely used in the packaging of glass bottles in order to prevent spillage of the content stored. Crown caps are available in materials like tin and aluminum to cater the application requirements.
The manufacturers characterized the crown caps by offering the range of color and sizes to meet the requirements of the end users. Crown cap has a crown shape and have teeth on its edge to properly package the bottle. Crown caps are tamper evident caps, in which on first opening can’t be resealed easily. These caps ensure tamper evidence along with the prevention of spillage.
The crown caps market is expected to be challenged by several hurdles. However, one key contributor to the growth of the global crown caps market is the growing prevalence of smaller pack sizes. Carbonated Soft Drinks (CSD) and beer witness high consumption, and have been growing in the past few years.
Furthermore, smaller sized beverage bottles are expected to witness growth in preference as more consumers look to reduce their carbonated soft drink and alcohol intake, especially beer. This is supposed to positively impact increase in demand for crown caps. The effect is expected to be more prominent in the Asia Pacific region. Therefore, the global crown caps market is likely to pass through a turbulent phase during the forecast period.
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Crown Caps Market – Drivers & Restraints
The global crown cap market is expected to grow on the backdrop of the beverage industry growth. The crown caps are primarily used in the packaging of the beverages in glass bottles. The beverages segment is further sub-segmented into alcoholic and non-alcoholic beverages. The global crown caps market is primarily driven by the alcoholic beverages packaging. The crown caps market is expected to grow during the forecast period.
Manufacturers use crown caps as a branding platform for the branding of the products; this helps in the instinct purchase of the products. Despite the positive outlook, global crown caps market is facing some tough challenges. For instance the growing popularity of flexible and closure less packaging is expected to hinder the global crown caps market in the upcoming years.
Moreover, there is a shift of consumers towards the plastic bottles from glass bottles is anticipated to further hurdle the growth of global crown caps market. Furthermore, consumers demanding for easy and convenient packaging which provides ease in consuming the product along with preventing content spillage. Ring pull caps are an alternative packaging solution to the crown caps. Ring pull caps are easy to open without the need of opener.
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Crown Caps Market - Segmentation
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Crown Caps Market - Regional Outlook
Geographically, the global crown caps market for is divided into seven key regions as: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. The market for crown caps is expected to witness swift growth in regions such as Asia Pacific excluding Japan, owing to the increasing consumption of rigid beverage bottles, featuring crown caps. Therefore, the APEJ region is expected to witness above average growth during the forecast period.
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Crown Caps Market - Key Players
The company with the lion’s share in the global crown caps market is Crown Holding, Inc. Many more local and regional players are expected to contribute to the global crown caps market.
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