Crown Caps Market Size

Crown Caps Market Analysis

The Crown Caps Market size is estimated at USD 1.71 billion in 2024, and is expected to reach USD 2.14 billion by 2029, growing at a CAGR of 4.54% during the forecast period (2024-2029).

• Crown caps find applications across carbonated soft drinks, energy drinks, and alcoholic beverages. Among alcoholic beverages, beer is the significant end-user, with major beer packages using crown caps for sealing their bottles. According to British alcoholic beverage company Diageo, global beer sales are expected to witness a compound growth rate of 1.2% in the period between 2019 and 2023. With the rise in the sale of beer glass bottles, the market is also expected to witness a growth in demand for crowns.
• The rising demand for sustainable packaging material for food and beverages and the strict anti-plastic guidelines by federal governments may contribute to the demand for metal crown caps. As per the recent United Nations Environment Programme (UNEP), held in May 2023, 80% of plastic pollution can be eliminated by following systematic guidelines. These new changes are expected to bolster the growth of the metal crown caps market during the forecast period.
• Moreover, aluminum, as a material for crown applications across the wine industry, is becoming predominant due to the non-par insulation of wine from oxygen and its cost benefits compared to cork. For instance, according to the Aluminum Closures Group, aluminum closures in the wine industry show an upward trend, with more than 30% of the global bottled still wine now expected to be sealed using aluminum. Another primary preference for crown caps and closures is their ease of disposal, recycling advantages, and increased shelf life.
• However, the global crown cap market is currently being challenged by the innovative recycled PET caps and closure closures launched, which are considered to have a lesser impact on the environment. In March 2023, Coca-Cola launched plastic caps that stay attached to the bottles. This is to ensure that the caps of the bottles will also be collected for recycling while collecting the bottles. Initiatives like this may act as barriers to market growth during the forecast period.
• Furthermore, the beverage industry is a significant user of crown caps and is showing trends of the potential increase in adoption for the same in the soft drink/carbonated drink segment. The expansion of microbrew beer canning is expected to expand the market studied further. Crown caps are helping craft beer manufacturers maintain a higher quality and premium look when served in a glass pint.