The global jerry cans market is on track to achieve a valuation of US$ 2.3 billion in 2023, with projections indicating a robust CAGR of 4.6% between 2023 and 2033. By the end of the forecast period, sales are anticipated to surge to US$ 3.5 billion, underscoring significant growth opportunities in the industry.
Market Dynamics and Growth Drivers
The market for jerry cans is witnessing steady growth, with the top 5 companies poised to capture a substantial market share of approximately 15-20% by 2022. Key factors driving this growth include:
- Dominance of Plastic Jerry Cans: The plastic jerry cans segment is expected to lead the global market, accounting for nearly 85% of the market value share by the end of 2023. The rising demand for durable, cost-effective, and lightweight packaging solutions is propelling the dominance of plastic jerry cans across various industries.
- Expansion of Chemical Industry: The increasing demand for rigid bulk packaging, particularly in the chemical industry, is fueling the growth of the jerry cans market. With the chemical sector expanding rapidly, the market is poised to witness an incremental opportunity of US$ 1.3 billion over the next decade.
- Rising Demand for Secure Packaging: In an era marked by stringent safety and security standards, jerry cans offer a reliable solution for the storage and transportation of various liquids and chemicals. The robust construction and leak-proof design of jerry cans make them indispensable across industries.
Market Outlook and Future Prospects
Looking ahead, the global jerry cans market is expected to witness sustained growth, driven by advancements in material technology, evolving consumer preferences, and increasing industrial applications. Manufacturers are likely to focus on innovation and product development to meet the dynamic demands of end-users.
Get a Sample PDF of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5801
Jerry cans are also used to pack household products, agricultural chemicals, sanitary supplies, etc. To fulfil the needs of these large end users, the producers of jerry cans and industrial packaging containers are aiming for bulk production. Hence, jerry can manufacturers are also investing extensively in the research and development to develop an innovative designs to gain revenue.
Key Takeaways
- The plastic segment is estimated to hold around 85% of the value share by the end of 2023 due to its lightweight, cost-effectiveness, and reusability.
- In terms of capacity, the above 25 liters segment is estimated to offer a growth opportunity of US$ 450 million between 2023 and 2033.
- Based on end use, the food & beverages segment is expected to register growth at a CAGR of 5.0% during the forecast period.
- South Asia is expected to be the most lucrative market for jerry cans market. It is anticipated to grow 7 times the current market value between 2022 and 2032.
- The USA is expected to dominate the North American jerry cans market over the assessment period
Growth Drivers:
- Rising Industrialization and Manufacturing Activities: Increasing industrialization globally fuels the demand for jerry cans as essential containers for storing and transporting liquids used in various manufacturing processes.
- Growing Chemical and Petroleum Industries: The expanding chemical and petroleum sectors drive the demand for jerry cans as they provide secure and efficient storage solutions for hazardous liquids.
- Emphasis on Sustainable Packaging: The push towards sustainable practices and eco-friendly packaging options boosts the adoption of jerry cans made from recyclable materials, aligning with environmental consciousness.
- Increasing International Trade: The growth of international trade and logistics amplifies the need for reliable and durable packaging solutions like jerry cans, ensuring safe transportation of liquids across borders.
- Stricter Regulations for Safe Transportation: Stringent regulations governing the safe transportation of liquids, especially in the chemical and food industries, propel the demand for jerry cans that comply with safety standards.
Industry Trends:
- Customization and Branding: Companies in the jerry cans market are increasingly offering customizable solutions to cater to the specific branding and packaging needs of diverse industries, enhancing market competitiveness.
- Advancements in Material Technologies: Ongoing innovations in materials, such as the development of lightweight yet robust materials, are influencing the jerry cans market, offering improved efficiency and reducing environmental impact.
- Focus on Smart Packaging Solutions: Integration of smart technologies, such as IoT-enabled tracking and monitoring features, is emerging as a trend in the jerry cans market, providing enhanced visibility and control over the supply chain.
- E-commerce Expansion: The proliferation of e-commerce channels prompts jerry can manufacturers to adapt their packaging solutions for online retail, ensuring secure and cost-effective transportation of liquids ordered online.
- Global Supply Chain Resilience: Events such as the COVID-19 pandemic have highlighted the importance of a resilient global supply chain, leading businesses in the jerry cans market to reevaluate and reinforce supply chain strategies for enhanced reliability.
Request Customization of the report: https://www.futuremarketinsights.com/customization-available/rep-gb-5801
Jerry Cans Market By Category
By Material Type:
- Plastic
- Metal
By Capacity:
- Below 10 Liters
- 10 Lt to 25 Liters
- Above 25 Liters
By End Use:
- Food & Beverage
- Vegetable Oil
- Juices & Milk
- Others
- Agrochemicals
- Fertilizers
- Pesticides
- Industrial Chemicals
- Hazardous
- Non-hazardous
- Petroleum & Lubricants
- Others (Paints/Inks/Dyes, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Browse latest Market Reports: https://www.futuremarketinsights.com/reports