January 23, 2023 10:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Jan. 23, 2023 (GLOBE NEWSWIRE) -- 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
“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.
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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.
Specialty Tin Cans Market Outlook by Category
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1. Executive Summary 1.1. Global Market Outlook 1.2. Market Analysis 1.3. Analysis and Recommendations
2. Market Overview 2.1. Market Coverage/Taxonomy 2.2. Market Definition/Scope/Limitations
3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Sustainable Trends 3.3. Technological Trends 3.4. Product Innovation/Development Trends
4. Key Success Factors 4.1. Product Adoption/Usage Analysis 4.2. Product USPs/Features 4.3. Strategic Promotional Strategies
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About the Packaging Division at Future Market Insights The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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