The global Hinged Lid Tins Market size is projected to be valued at USD 10.8 Billion in 2032 and exhibit considerable growth at a CAGR of 3.7% in the forecast period from 2022 to 2032. It is likely to reach USD 6.1 Billion in 2022. The good appearance and high bearing capacity of hinged lid tins are expected to drive the market.
| Report Attribute | Details |
|---|---|
| Hinged Lid Tins Market Estimated Base Year Value (2021) | USD 5.4 Billion |
| Hinged Lid Tins Market Expected Market Value (2022) | USD 6.1 Billion |
| Hinged Lid Tins Market Anticipated Forecast Value (2032) | USD 10.8 Billion |
| Hinged Lid Tins Market Projected Growth Rate (2022 to 2032) | 3.7% CAGR |
Hinged lid tins are considered to be a feasible packaging solution for the packaging of dry goods. These are capable of keeping the content fresh for a longer period of time.
As these are made of metal, they provide nearly 100% protection from water vapours, as well as moisture. The demand for hinged lid tins is expected to surge at a steady pace owing to their high tensile strength and sturdy structure.
They help in protecting the package from tremors and external shocks. These can impart functionality to a traditional tin container. In terms of transportation, these are considered to be more convenient than other types of products available in the market.
As these are handy and leakage-resistant, sales of hinged lid tins are anticipated to surge in future years. These are also ideal for preserving the quality of packaged products. Their supreme quality is expected to augment the need for hinged lid tins in a wide range of end-use industries.
The consumer-friendly and ergonomic format of hinged lid tins is a major factor that is anticipated to augur well for the global market. Companies are developing new tin packaging to attract more customers as metal packaging adds an aesthetic appeal and a premium feel to the package.
Further, hinged lid tins enable manufacturers to develop their brand image among customers owing to their ease of printing. Some of the other decorations, such as 3D printing and embossing can also be done on these tins to improve the products’ visibility on shelves.
Spurred by the aforementioned factors, the hinged lid tins market growth is anticipated to surge in future.
One of the major challenges of hinged lid tins is that if the lid gets broken, then the container loses its functionality. It results in cracking or breaking of the hinges as the lids cannot be reattached to the joining point. This factor may obstruct the sales of hinged lid tins in the upcoming years.
Asia Pacific is set to remain at the forefront by procuring the largest hinged lid tins market share in the evaluation period. This growth is attributable to the ongoing development of the food supply channel across India and China. Hinged lid tins are expected to transform the food industry in these countries with the rising popularity of online food delivery systems.
In addition to that, the ever-increasing demand for ready-to-go meals among millennials is another vital factor that is estimated to propel the regional market. The rising trend of consuming various flavoured coffees across the Asia Pacific is also projected to drive growth. Increasing sales of such coffees through e-commerce platforms is set to push growth.
The rising demand for hinged lid tins in Canada and the USA for tobacco packaging, especially for premium cigarettes, is likely to augur well for the North American market. Governments of these countries have put forward stringent norms to ban the usage of plastic packaging and thus, companies are rapidly inclining towards metal packaging, such as tins.
The growing usage of hinged lid tins by pharmaceutical companies for medicine shipment and storage is another significant factor that is set to accelerate growth. These are nowadays used by cosmetics manufacturers to store compact powders, lipsticks, eyeshadows, and blush. This factor is also expected to support the North American market.
Some of the leading companies in the global hinged lid tins market include Allstate Can Corporation, Tin King Manufacturing Co. Ltd., TinWerks Packaging Co., Tin-Pac Promotional Packaging, and SKS Bottle & Packaging, Inc. among others.
Renowned companies are engaging in mergers and acquisitions with local firms to co-develop cutting-edge products and distribute these in the market. Meanwhile, a few other key players are striving to broaden their manufacturing capacities by investing huge sums in the development of new production facilities, especially in untapped areas.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material, Capacity, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Allstate Can Corporation; Tin King Manufacturing Co. Ltd.; TinWerks Packaging Co.; Tin-Pac Promotional Packaging; SKS Bottle & Packaging, Inc. |
The global hinged lid tins market is likely to exceed USD 10.8 Billion in 2032.
Asia Pacific is set to lead the hinged lid tins market in the forecast period.
Allstate Can Corporation, Tin King Manufacturing Co. Ltd., TinWerks Packaging Co., Tin-Pac Promotional Packaging, and SKS Bottle & Packaging, Inc. are some of the renowned companies in the hinged lid tins market.
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