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Global Tinplate Packaging Market Segments: By Type (Bottles, Caps and Closures, Drums, Food cans and Others); By End Users (Food & Beverages Industry, Health & Beauty Industry, Chemical Industry and Others) and Region - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Tinplate Packaging market to surpass USD XXXX million by 2030 from USD XXXX million in 2019 at a CAGR of XX.X% throughout the forecast period, i.e. 2019-30.
Tinplate is a thin sheet of steel coated with tin to prevent rust corrosion typically used for packaging food and beverages, oils, powders, paints, etc. Tinplate is also used for diverse purposes such as manufacturing engine gaskets, oil filters, and brake line tubes due to its corrosion resistance, solderability, and lustrous appearance properties. The eco-friendly and recyclable nature of tinplate promotes sustainable use of natural resources. Tinplate packaging is convenient to ship and store due to its high strength and fewer weight properties, moreover, they also ensure the longer shelf life of products preventing them from coming in direct contact with water vapor and other gasses.
Global Tinplate Packaging market to surpass USD XXXX million by 2030 from USD XXXX million in 2019 at a CAGR of XX.X% throughout the forecast period, i.e. 2019-30. With the changing lifestyle and preferences, demand for products holding longer shelf life is increasing which can be possibly done by using tinplate for packaging and storage of the products which may foster the demand for the global tinplate packaging market. Plastic that contains toxic elements is not preferred by most consumers to store food products which can be substituted by tinplate packaging.
In January 2020, Tesco announced to abandon the use of plastic packaging on tin multipacks teaming up with Heinz following the 4Rs (remove, reduce, reuse and recycle) packaging policy strategy for plastic packaging.
Food Cans platform segment to grow with the highest CAGR during 2019-30
Global Tinplate Packaging market is segmented by type into Bottles, Caps and Closures, Drums, Food cans, and Others. The food Cans segment held the largest market share in the year 2019. Tinplate bottles are used to store oils, caps, and closures are specifically designed to ensure proper sealing of the container preventing the product from leaking. Food cans are majorly used to store beverages, canned fruits, vegetables, etc. which are majorly demanded by the populace.
Food and Beverages segment to grow with the highest CAGR during 2019-30
Global Tinplate Packaging market is also segmented by end-users into Food & Beverages Industry, Health & Beauty Industry, Chemical Industry, and Others. The food and beverages segment held the largest market share in the year 2019 and will continue to dominate the market throughout the forecast period since consumers’ inclination towards canned food products is rising with time due to their longer shelf life and convenience.
Mounting demand for Canned food and beverage products
With the changing lifestyle, the demand for canned-food products such as fruits, vegetables, juice, etc. is growing due to the busy schedules of consumers which is a key driving factor for the growth of the global tinplate packaging market. Longer shelf life of the perishable products by creating a barrier between the small water particles and gasses present in the air tinplate material acts as the most effective alternative for packaging.
Recyclable and Ecofriendly
Conservation of natural resources and use of environment-friendly packaging materials have seen a rising trend in the past years, tinplate packaging can be recycled, reused, and eco-friendly making it the most desirable choice for the packaging of products. Since it is also free from harmful elements a major shift of preference has been observed from plastic containers to tinplate containers in the past few years.
High manufacturing costs
Manufacturing costs of tinplate containers are higher in comparison to various other packaging alternatives, businesses may not have a desired profit ratio, especially in the packaging of low-value items.
Global Tinplate Packaging market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Global Tinplate Packaging markets market in North America held the largest market share in the year 2019. North America will continue to dominate the global tinplate market due to its higher per-capita income, busy schedules, and rising inclination towards canned- food products which will promote the growth of the tinplate packaging market in the region throughout the forecast period. Asia-Pacific regions will also observe substantial growth over the projected timeline due to rising demands for the packed food as well as tinplate packaging in other industries.
Global Tinplate Packaging market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Tinplate Packaging Market Segments:
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