According to Future Market Insights (FMI), the global jerry cans market is projected to experience a significant compound annual growth rate (CAGR) of 4.6% from 2023 to 2033. The increasing use of oil and lubricants is expected to be a major driver for the expansion of the jerry can industry.
To meet the demand for innovative and creative packaging solutions and enhance sales, major companies are placing a strong emphasis on packaging. This trend has led to an increased need for jerry cans. With the growth and development of the transportation and logistics sectors and companies diversifying their product offerings, there is a rising demand for jerry cans equipped with fuel nozzles.
The growing use of oil and lubricants across automotive, industrial, and energy sectors is a key factor driving the growth of the jerry cans market. Jerry cans provide a reliable and efficient solution for safe storage and transportation of these liquids. As the demand for oil and lubricants increases, the need for appropriate packaging, such as jerry cans, also grows.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5801
The demand for paint and dyes, particularly in the residential sectors, is expected to rise, leading to increased use of jerry cans. The strength and affordability of plastic petrol cans are anticipated to drive their usage, resulting in a 1.5x growth in the petrol cans market over the next decade, as per FMI.
As jerry cans find applications in industrial and military sectors, sales in the market are expected to rise. Consequently, the jerry cans market is projected to reach a valuation of US$ 2.3 billion by the end of 2022.
In addition to oil, lubricants, and fuel, jerry cans are also used for packaging sanitary supplies, domestic goods, and agricultural chemicals. Manufacturers of jerry cans and industrial packaging containers are focusing on bulk production to meet the demands of these significant end-users. Therefore, jerry can producers are investing in research and development to create novel styles that can increase sales.
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 litres segment is estimated to offer a growth opportunity of US$ 450 million during 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 1.7 times the current market value during 2022 and 2032.
- The USA is expected to dominate the North America jerry cans market over the assessment period
Are you looking for customized information related to the latest trends, drivers, and challenges? @ https://www.futuremarketinsights.com/customization-available/rep-gb-5801
Jerry Cans Market Landscape
The key players operating in the global jerry cans market are Greif Inc. Berry Global, Inc., Mauser Packaging Solutions, Parekhplast India Limited, and Schutz GmbH & Co. KGaA. Also, some of the other noticeable players in the market include Plas-Pak WA Pty Ltd., IPACKCHEM Group SAS, Barrier Plastics Inc., and Rheem Indonesia. PT, Can-One Berhad, Scepter (Myers Industries), Safewell, Denios , WERIT Kunststoffwerke W. Schneider GmbH & Co., Nexus Packaging Ltd., LyondellBasell Industries Holdings B.V., and others.
Some of the leading companies operating in the market are:
- Greif Inc.
- Berry Global, Inc.
- Mauser Packaging Solutions
- Parekhplast India Limited
- Schutz GmbH & Co. KGaA
- Plas-Pak WA Pty Ltd.
- IPACKCHEM Group SAS
- Barrier Plastics Inc.
- Rheem Indonesia. PT
Regional Insights:
Jerry Cans Demand Surges in the United States Driven by Food Safety Regulations
In the United States, the demand for jerry cans is expected to surge due to stringent regulations for food safety. The FDA has implemented rules that require all packaging materials used for consumable products to be regulated and permissible under the Code of Federal Regulations. This ensures that only approved materials are used to package food and beverages, protecting them from harmful contaminants. To comply with these regulations, key manufacturers in the United States are using FDA-approved materials to produce jerry cans, eliminating the risk of contamination. Sales of jerry cans in the United States are projected to grow by 1.4x between 2022 and 2033.
India Emerges as the Largest Market for Jerry Cans in South Asia Driven by Chemical Industry Expansion
India has become the largest market for jerry cans in South Asia, primarily due to the expansion of the chemical industry. The country is ranked as the world’s largest producer of agrochemicals, and its organic and inorganic chemical exports reached US$22.2 billion in 2022. Government authorities in India are actively promoting the use of jerry cans for storage, further driving demand. The continuous efforts to support chemical exports through tax rebates and financial assistance are expected to fuel the expansion of the chemical industry, leading to increased demand for jerry cans. According to FMI, India is projected to account for one-fourth of the total sales of jerry cans in South Asia in 2023
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-5801
Jerry Cans Market by Category
By Material:
- Plastic
- Metal
By Capacity:
- Below 10 Liters
- 10 Lt to 25 Liters
- Above 25 Liters
By End Use:
- Food & Beverage
- Vegetable Oil
- Juices & Milk
- Agrochemicals
- Fertilizers
- Pesticides
- Industrial Chemicals
- Hazardous
- Non-hazardous
- Petroleum & Lubricants
About Us:
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
