Plastic Crown Closures Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 4.5 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
Looking forward to the demand from 2023 to 2033, the plastic crown closures market is expected to continue its upward trajectory, albeit with some shifts in trends and regional demand. Industry experts forecast a compound annual growth rate (CAGR) of 5-6% in the coming years, as sustainability concerns continue to push the industry toward greener packaging solutions. The demand for innovative closures that are easier to use, more secure, and environmentally friendly will fuel market growth. Companies are exploring alternatives such as biodegradable closures and closures made from recycled materials, responding to heightened consumer and regulatory demands for environmentally responsible products. Additionally, technological advancements in closure sealing methods, such as tamper-proof designs and enhanced barrier properties, are set to redefine product packaging in the next decade. As consumer preference for premium beverages increases globally, the demand for high-quality and functional plastic crown closures will continue to rise, particularly in the luxury drinks segment.
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The plastic crown closures market has experienced significant growth from 2018 to 2022, driven by demand in packaging, particularly in the beverage industry. The versatile nature of plastic crown closures has made them the preferred choice for bottling carbonated drinks, beers, and other beverages. This market has witnessed a steady increase in demand as manufacturers strive to meet consumer preferences for convenience and safety in beverage packaging. The growing focus on sustainability, along with advancements in closure technology, has also influenced the market dynamics, with the development of recyclable and eco-friendly crown closures gaining traction. The market's success in these years can be attributed to the expansion of the global beverage market, particularly in emerging economies. By 2022, the market was valued at over USD 3 billion, with substantial growth recorded in regions such as North America, Europe, and Asia-Pacific.
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Astir Vitogiannis
Avon Crown caps & Containers
AMD Industries
Continental Crowns and Closures
Crown Holdings
Crown Seal
Finn-Korkki
Manaksia Industry
Nippon Closures
Oricon Enterprises
Pelliconi & C
Samhwa Crown & Closure
Supertech-Crown
TOKK
Viscose Closures
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Plastic Crown Closures Market
Beer
Carbonated Soft Drinks
Others
Based on Types the Market is categorized into Below types that held the largest Plastic Crown Closures market share In 2023.
PP
PE
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Plastic Crown Closures Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Plastic Crown Closures Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plastic Crown Closures Market, By Type
6. Global Plastic Crown Closures Market, By Application
7. Global Plastic Crown Closures Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Plastic Crown Closures Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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