The global jerry cans market is on an upward trajectory, with a projected valuation of US$ 2.3 billion in 2023, set to expand at a steady CAGR of 4.6% between 2023 and 2033. Sales are anticipated to soar to US$ 3.5 billion by 2033, driven by burgeoning demand for durable, cost-effective, and lightweight packaging solutions.
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Key Highlights of the Jerry Cans Industry:
- Plastic Jerry Cans Segment Dominates: The plastic jerry cans segment is expected to dominate the global market, accounting for nearly 85% of the market value share by the end of 2023. Rising demand for rigid bulk packaging, especially in the chemical industry, is projected to create a US$ 1.3 billion worth opportunity over the forthcoming decade.
- Key Trends Driving Jerry Cans Sales Worldwide:
- Expansion of Paint, Ink & Dye Industry: The increasing use of industrial drums for transporting liquids such as paints, inks, and dyes is fueling demand for jerry cans. These cans serve as effective packaging solutions for shipping harmful and acidic fluids while also facilitating warehouse storage. With the growing demand for pigments and printing inks, the sales of jerry cans are expected to surge across various industries.
- Low Packaging Scrap Generation and Reconditioning: Environmental concerns have prompted manufacturers to offer reconditioning services for jerry cans, ensuring minimal packaging scrap generation. Reconditioned jerry cans undergo rigorous processes to eliminate residue particles and maintain product integrity, thereby driving sales.
- Surging Demand across the United States:
Stringent regulations for food safety enforced by the USA Food and Drug Administration (FDA) have propelled the demand for jerry cans in the United States. Manufacturers are leveraging FDA-approved materials to produce jerry cans, ensuring compliance with regulations and minimizing the risk of contamination in consumable products. Sales of jerry cans in the United States are expected to witness a significant uptick, growing by 1.4x between 2022 and 2033.
The global jerry cans market is witnessing unprecedented growth, driven by evolving consumer preferences, regulatory mandates, and industry innovations. As demand for reliable and sustainable packaging solutions continues to surge, the jerry cans market remains poised for substantial expansion.
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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.
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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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