With a moderate-paced Compound Annual Growth Rate (CAGR) of 2.9% expected throughout the forecast period, the global packaging jars market is currently valued at US$33,040.4 million in 2022. Projections indicate a substantial increase, foreseeing the market value to reach US$43,974.3 million by 2032. This growth is driven by factors such as evolving consumer preferences, innovations in packaging designs, and the heightened focus on sustainability. As industries continue to adapt to changing market dynamics, the packaging jars market positions itself to meet the demands of a diverse and expanding consumer base, showcasing resilience and adaptability in the coming decade.
The emerging economies are witnessing an increase in female workforce, which calls for ready-to-use food, beverages, cosmetics, personal care products, and – pharmaceuticals. The challenges faced by various verticals include moisture and long distance transportation. They could be addressed well through packaging jars. The packaging jars market is thus expected to witness a stellar growth in the forecast period.
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At the same time, the fact that flexible packaging solutions are taking over rigid packaging jars can’t be ignored. Also, raw materials, especially the sustainable ones, are witnessing volatility in prices. There are also issues regarding recycling these rigid jars. These factors could restrain the packaging jars market in the forecast period. Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Packaging Jars market’. It has worked on both – micros and macros herein.
Market Drivers:
- Growing Consumer Demand for Convenience:
- Consumers are increasingly seeking convenient packaging solutions, and jars offer a practical and user-friendly option for various products. The demand for packaging that enhances ease of use and storage can drive the market for packaging jars.
- Rising Demand for Sustainable Packaging:
- With an increasing focus on environmental sustainability, there is a growing demand for eco-friendly packaging options. Packaging jars made from recyclable or biodegradable materials can attract environmentally conscious consumers.
- Food and Beverage Industry Growth:
- The food and beverage industry is a significant consumer of packaging jars. As the global population continues to grow, there is a parallel increase in demand for packaged food and beverages, driving the need for diverse packaging solutions, including jars.
- Innovation in Packaging Design and Materials:
- Technological advancements in packaging materials and design contribute to the growth of the packaging jars market. Innovations such as smart packaging, improved barrier properties, and aesthetically pleasing designs can attract consumers and drive market growth.
Market Restraints:
- Cost of Raw Materials:
- Fluctuations in the prices of raw materials, such as glass or plastic used in manufacturing jars, can impact production costs. High and volatile material costs may pose challenges for manufacturers and potentially lead to increased product prices.
- Regulatory Compliance and Standards:
- Compliance with evolving regulatory standards and environmental regulations can be a restraint. Packaging manufacturers must adapt to changing regulations, which may involve adjustments to materials, processes, and labeling.
- Competition from Alternative Packaging Solutions:
- Packaging jars face competition from alternative packaging solutions such as pouches, cartons, and flexible packaging. The market may be influenced by the preferences of brands and consumers for different packaging formats.
- Impact of Economic Conditions:
- Economic downturns can influence consumer spending habits and impact the packaging industry. During periods of economic uncertainty, there may be a slowdown in demand for certain packaged goods, affecting the packaging jars market.
Key Takeaways from Packaging Jars Industry
- North America and Europe are at the matured stage of packaging jars market and the situation is expected to persist even in the forecast period.
- The Asia-Pacific is expected to witness growth of packaging jars market at the fastest pace with Australia, Japan, India, and China holding the baton.
- LATAM is also expected to pick up pace herein with Brazil taking the top brass.
Competitive Jars
- Owens-Illinois, in January 2021, went on records to state that it has revived the initially idled furnace stationed at Waco (Texas). This was the outcome of rising demand for jars to pack alcoholic beverages.
- Graham Packaging, in January 2021, came up with a novel website to mark its corporate identity. The company’s objective is that of re-introducing itself for reinstating and elevating commitment toward sustainable and smart packaging to adhere to environmental-friendliness.
- ALPLA Group, in August 2021, announced that it had acquired Wolf Plastics Group for enhancing the product portfolio, thereby making itself present in South-eastern and Central Europe.
- Saverglass, in November 2021, did open a new-fangled 430K square foot multi-service warehouse in Fairfield (California) for providing quick access to alcohol- and wine-producing companies for glass bottle services.
- Verescene, in November 2021, announced launching Verre Infini 20 (Infinite Glass). It comes across as a new-fangled glass composition for expanding its PCR1 glass manufacturing capabilities all over. As of now, the production is carried out in Spain and France, and is likely to be implemented in South Korea in 2023 and the US in 2022.
- Vitro, in October 2021, announced investing US$ 70 Mn to construct a novel container furnace at Vitro plant in Toluca (Mexico).
“With increased urbanization, the demand for on-the-go products with reduction in downtime (say – in terms of cooking) is expected to increase. This factor is bound to record marked growth of packaging jars market in the near future”, says an analyst from Future Market Insights.
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Some of the key companies in the market are:
- Owens Illinois Group Inc.
- Amcor Ltd
- Owens Bottle Company
- Berry Global Inc.
- Graham Packaging Company Inc.
- Ball Corporation
- Silgan Holdings Inc.
- AG Poly Packs Ltd.
- Olcott Plastics, Inc.
- Cospak Pty Ltd.
- Beatson Clark.
- Great Western Containers Inc
- Ajanta Bottle Pvt Ltd
What Package does the Packaging Jars Industry get?
- Future Market Insights offers an exclusive perspective and various real-time insights on the packaging jars market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on material type (plastic (polyethylene (PE), HDPE, LDPE, polyethylene terephthalate (PET), polycinyl chloride (PVC), polystyrene (PS), polypropylene (PP), ethyl vinyl alcohol (EVOH) and glass), by product type (straight sided, snap top, domed based, taped jars, and others), by capacity (small size (less than 10 oz), medium size (10 oz to 30 oz), large size (30 oz to 100 oz), and very large size (100 oz & above), and by end-user (food and beverages, cosmetics and personal care, home care, pharmaceuticals, chemicals and lubricants, and others).
- Packaging jars go well with reactive and volatile products. Also, they are reported to be more durable. These factors would render the packaging jars market indispensable in the near future.
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Key Segmentations-
By Material Type :
- Plastic
- Polyethylene (PE)
- HDPE
- LDPE
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Polypropylene (PP)
- Ethyl Vinyl Alcohol (EVOH)
- Glass
By Product Type:
- Straight Sided
- Snap-Top
- Domed Based
- Taped Jars
- Others
By Capacity:
- Small Size (Less than 10 oz)
- Medium Size (10 oz to 30 oz)
- Large Size (30 oz to 100 oz)
- Very Large Size (100 oz & above)
By End User:
- Food and Beverages
- Cosmetics and Personal Care
- Home Care
- Pharmaceuticals
- Chemicals and Lubricants
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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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