Specialty Tin Cans Market Set to Exceed $899.4 Million by 2032: Impressive 4.8% CAGR Anticipated in the Next Decade

The global specialty tin cans market is estimated to be valued at US$ 566.2 million in 2022. It is projected to exhibit moderate growth at a CAGR of 4.8% throughout the forecast period from 2022 to 2023, and register a valuation of US$ 899.4 million in 2032.

High demand for several sucralose juices, healthy beverages, health drinks, and carbonated soft drinks among millennials and gen z is likely to positively affect specialty tin cans sales in the next ten years. A few key companies are also set to influence the development of the global market through research work and aggressive promotional efforts.

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Retail and food industries are anticipated to be the most prominent consumers of specialty tin cans across the globe. The emergence of numerous superstores and grocery shops, as well as the expansion of distribution networks by leading food manufacturing companies would propel demand.

Increasing micro families is further likely to augment sales of small packing units. Key companies are striving to broaden their presence on e-commerce websites, which is further expected to generate high sales of canned food products at discounted rates.

Owing to busy lifestyles of the working population, demand for metal cans is anticipated to surge in developed countries. Millennials are set to incline toward wholesome food items that are ready to eat and can be prepared in a short period as they have hectic schedules.

By providing foods that are ready to use and in convenient packaging, canned food is likely to accomplish this particular goal. The ability of tin cans to keep food items fresh for a long time is another crucial factor that would accelerate specialty tin cans sales in the next ten years.

Key Takeaways from the Specialty Tin Cans Market Report

*Based on capacity type, the 200 ml to 500 ml segment is anticipated to generate a share of around 48.6% in 2032.
*In terms of end-use, the beverages segment is projected to capture a share of about 28.9% in 2032 in the global specialty tin cans market.
*By product type, the slim tin can segment is estimated to hold the lion's share of nearly 61.6% by 2032.
*Brazil specialty tin cans market is likely to generate a moderate share of around 43.9% in 2032.
*The United Kingdom specialty tin cans market is set to hold a share of 12.1% by 2032.

"Increasing demand for specialty tin cans for the packaging of premium and luxury products such as tea, coffee, and cookies is projected to drive sales in the market. Key companies are expected to launch innovative tin cans with unique designs to expand their portfolios." says a lead analyst at Future Market Insights, Inc.

Competition Landscape: Specialty Tin Cans Market

The top manufacturers of the specialty tin cans market are Ardagh Group S.A., Allstate Can Corporation, Crown Holdings, Inc., Colep Packaging, Toyo Seikan Group Holdings, Ltd., Hindustan Tin Works Ltd, Silgan Containers LLC, Kian Joo Can Factory Berhad, Wilkinson Containers Ltd, CAN-PACK S.A., Swastik Tins Private Limited, Massilly Holding, Gruppo ASA, Litoichap S.L., Falco S.p.A., Teksan Tin House, LK-PremiumPack GmbH, C.L. Smith Company and others.

The global specialty tin cans market is highly fragmented with the presence of numerous local and international companies. They are mainly participating in organic and inorganic strategies such as collaborations, joint ventures, and acquisitions to compete with their rivals.

Few of the leading companies are focusing on attracting a large client base by investing huge sums in aesthetically appealing packaging solutions, including specialty tin cans. They are teaming up with food & beverage giants to provide them with their in-house canned packaging.

Recent Development

         In May 2021, Nestle's Milo brand introduced three new limited-edition 1kg tins in Australia. The tins showcase cricket, basketball, and football with bright pictures. The company is aiming to help kids in Australia to remain active and encourage them to participate in sports activities.

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Specialty Tin Cans Market Outlook by Category

By Product Type:

         Slim Tin Can
         Beaded Tin Can

By Closure:

         Penny Lever Lids
         Sanitary Lids
         Easy Open Lids
         Full Aperture Lids

By Capacity:

         Less than 200 ml
         200 ml to 500 ml
         501 ml to 750 ml
         More than 750 ml

By End Use:

         Food

o    Processed Food

o    Edible Oil

o    Dry Fruits

o    Bakery & Confectionery

o    Tea & Coffee

o    Dairy Products

o    Baby Food

         Beverages
         Pharmaceutical & Nutraceuticals
         Chemicals
         Personal Care & Home Care

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.