The global jerry cans market is experiencing steady growth, with a projected valuation of US$ 2.3 billion in 2023 and an anticipated expansion at a CAGR of 4.6% from 2023 to 2033, leading to sales reaching US$ 3.5 billion by 2033. The market landscape suggests a concentrated market, with the top 5 companies expected to command approximately 15-20% of the market share by 2022.
Plastic jerry cans are forecasted to dominate the market, driven by their durability, cost-effectiveness, and lightweight nature, accounting for nearly 85% of the market value share by the end of 2023. The rising demand for rigid bulk packaging, particularly in the chemical industry, has contributed to the surge in demand for jerry cans, reaching a valuation of US$ 2.2 billion in 2022.
Looking ahead, the market is poised to witness significant growth opportunities, with an estimated incremental worth of US$ 1.3 billion over the next decade, fueled by the expansion of the chemical industry and the continued demand for reliable and robust packaging solutions.
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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.
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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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