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. Few key companies are also set to influence 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. Emergence of numerous superstores and grocery shops, as well as 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. 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.
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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 6% in 2032.
- In terms of end use, the beverages segment is projected to capture a share of about 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 6% by 2032.
- Brazil specialty tin cans market is likely to generate a moderate share of around 9% in 2032.
- The United Kingdom specialty tin cans market is set to hold a share of 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.
Competition Landscape: Specialty Tin Cans Market
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.
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For instance,
- 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.
Get More Valuable Insights into Specialty Tin Cans Market
Future Market Insights, in its new offering, provides an unbiased analysis of the specialty tin cans market presenting historical demand data (2017 to 2021) and forecast statistics for the period from (2022 to 2032). The study divulges compelling insights on the demand for specialty tin cans based on product type (straight tin can, beaded tin can), closure (screw tops, slip covers, clear tops, hinged tops), capacity (less than 200 ml, 200 ml to 500 ml, 501 ml to 750 ml, more than 750 ml), end use (food, beverages, pharmaceutical & nutraceuticals, chemicals, personal care & home care), and region.
Key Players:
- Ardagh Group S.A.
- Allstate Can Corporation
- Crown Holdings, Inc.
- Colep Packaging
- Toyo Seikan Group Holdings, Ltd.
- Hindustan Tin Works Ltd
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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