In the latest study conducted by FMI, a rise in edible oil consumption along with growing demand for petroleum products is anticipated to fuel the global demand for jerry cans. Global sales of jerry cans are expected to reach US$ 2.1 billion in the year 2022 and grow to US$ 3.2 billion by the year 2031.
Despite emergence of intermediate bulk containers (IBCs) as a cost-competitive and space-conserving alternative, the demand for jerry cans remains healthy owing to high adoption by food & beverages and chemical industries. The global jerry cans market is set to exhibit a steadfast CAGR of 5% during 2022-2031.
Manufacturers are focusing on new innovative packaging to increase sales, which include refilling of gas in jerry cans. With advancements in shipping and logistics industries, manufacturers are providing gas knobs in jerry cans as a part of new innovative designs.
Furthermore, intercontinental trade of petroleum, oil, and lubricants is expected to remain positive in the next five years, thereby driving sales of jerry cans.
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Key Takeaways — Jerry Cans Market Study
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 the 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.
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More Valuable Insights on Jerry Cans Market
Future Market Insights, in its new offering, offers an unbiased analysis of the global jerry cans market, analysing historical demand from 2016-2021 and forecast statistics for 2022-2031.
The study unravels growth projections on the jerry cans market on the basis of material (plastic and metal), capacity (below 10 litres, 10-25 litres, and above 25 litres), and end use (food & beverages, agrochemicals, industrial chemicals, petroleum & lubricants, and others), across the seven major regions.
The food & beverages segment is further sub-segmented into vegetable oil, juices & milk, and others. The agrochemicals segment is further sub-segmented into fertilizers and pesticides. The industrial chemical segment is further sub-segmented into hazardous and non-hazardous, petroleum & lubricants, and others.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 9-years.
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