Stringent regulations pertaining to food safety, as mandated by the USA Food and Drug Administration (FDA), are poised to significantly boost the sales of jerry cans market in the United States. The FDA now requires that all packaging materials used for consumable products comply with the Code of Federal Regulations.
This directive ensures that only approved materials are utilized for packaging food and beverages, safeguarding these products from potential contaminants. In response, leading jerry can manufacturers in the United States have shifted to FDA-approved materials to eliminate contamination risks in their final products. As a result, the jerry can market is expected to witness substantial growth, with sales projected to increase by 1.4 times between 2022 and 2033 in the United States.
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The global Jerry Cans Market is on a growth trajectory, projected to be valued at $2.3 billion in 2023 and expected to achieve a CAGR of 4.6% between 2023 and 2033, reaching a sales value of $3.5 billion by 2033. The plastic jerry cans segment is set to dominate, capturing around 85% of the market value share by 2023, driven by demand for lightweight, durable, and cost-effective packaging solutions. The industry’s expansion is underlined by the anticipation that the top 5 companies will account for 15-20% of the market share in 2022.
Demand for jerry cans is propelled by their vital role in providing safe and efficient bulk packaging solutions for a variety of sectors, including chemicals and food & beverage. With growing concerns for reusability and recyclability, these containers are expected to witness increased adoption globally. The market’s growth is estimated to be 1.6 times during the forecast period, emphasizing its substantial potential.
Jerry cans are also used to pack household products, agricultural chemicals, sanitary supplies, etc. To fulfill the needs of these large end users, the producers of jerry cans and industrial packaging containers are aiming for bulk production. Hence, Jerry Can manufacturers are also investing extensively in research and development to develop innovative designs to gain revenue.
Key Takeaways
- The plastic segment is estimated to hold around 85% of the value share by the end of 2023 due to its lightweight, cost-effectiveness, and reusability.
- In terms of capacity, the above 25-liter segment is estimated to offer a growth opportunity of US$ 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
“Increasing use of customized jerry cans in industrial and residential sectors due to growing expansion of paints and coatings industry will drive the demand. Furthermore, the demand for jerry cans is anticipated to reach new heights as food & beverage manufacturers and suppliers are focusing to raise production bars”- says an FMI analyst
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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., 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.
Key Takeaways:
The food & beverages industry will remain the key end user of jerry cans, attributing to ascending demand for vegetable oil, juices, and milk.
Manufacturers are developing products to meet end users’ specific requirements such as their demand for premium grade jerry cans to sustain fuels at the desired temperature. These developments, on the backdrop of value creation such as cost efficiency, increased storage capacity, and sustainability of plastic jerry cans, allow customers to gauge substantial long-term benefits.
Plastic jerry cans account for over 85% of overall sales and would remain prominent in the global jerry cans market in next ten years. Metal jerry cans on the other side, will witness gradual demand.
Jerry can manufacturers are leveraging their in-house research, testing, and development capabilities to innovate products in the industrial chemical sector.
The industrial sector is expected to exhibit increasing usage of larger and higher-value containers such as customized jerry cans. Furthermore, the demand for jerry cans is anticipated to significantly heighten in years to come, as manufacturers as well as suppliers in food & beverage products have been consistently focusing on raising their production bars.
Manufacturers Eying Opportunities in Europe and South Asia
Over the past several years, the food & beverages industry has witnessed astonishing growth in regions such as European and South Asian countries. Leading jerry can manufacturers are targeting these regions to capture a prominent market share.
Countries such as India, France, and Germany are leading milk producers, which create enormous opportunities for jerry cans manufacturers to strengthen their business footprints in these regions.
Rising industrial manufacturing outputs also support the growth of jerry cans market. In 2021, the Grief Inc. announced the expansion of its CorrChoice sheet feeder network with the addition of new jerry cans facility.
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
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What to Expect in Our Report?
(1) A complete section of the Global Jerry Cans market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
(2) Another broad section of the research study is reserved for regional analysis of the Global Jerry Cans market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Jerry Cans market.
(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Jerry Cans market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
(5) Readers are provided with findings and conclusion of the research study provided in the Global Jerry Cans Market report.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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