According to Future Market Insights (FMI), the global jerry cans market is expected to witness a substantial compound annual growth rate (CAGR) of 4.6% during the assessment period from 2023 to 2033. The increasing use of oil and lubricants is predicted to be a significant driver for the expansion of the jerry can industry.
Major corporations are placing a strong emphasis on innovative and creative packaging solutions to enhance their sales. This trend has led to a growing necessity for jerry cans. As the transportation and logistics industries continue to grow and develop, and companies strive to diversify their product offerings, there is a rising demand for jerry cans equipped with fuel nozzles.
The increasing use of oil and lubricants across various sectors such as automotive, industrial, and energy is a key factor driving the growth of the jerry cans market. Jerry cans provide a reliable and efficient solution for storing and transporting these liquids safely. As the demand for oil and lubricants rises, the need for appropriate packaging, such as jerry cans, also increases.
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The demand for paint and dye, particularly in the residential sectors, is expected to rise, which would lead to an increase in the use of jerry cans. The strength and affordability of plastic petrol cans, according to FMI, are expected to lead to an increase in their use. This is anticipated to result in a 1.5x growth in the market for petrol cans during the following ten years.
As jerry cans are adopted for usage in industrial and military applications, sales in the market are expected to rise. As a result, it is predicted that the jerry can market would be valued US$ 2.3 billion by the end of 2022.
Additionally, sanitary supplies, domestic goods, and agricultural chemicals are all packaged in jerry cans. The manufacturers of jerry cans and industrial packaging containers are striving for bulk production to meet the demands of these significant end users. As a result, jerry can producers are spending a lot of money on research and development to create a novel style that will increase sales.
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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 litres segment is estimated to offer a growth opportunity of US$ 450 million during 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 1.7 times the current market value during 2022 and 2032.
- The USA is expected to dominate the North America jerry cans market over the assessment period
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., and 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.
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Some of the leading companies operating in the market are:
- Greif Inc.
- Berry Global, Inc.
- Mauser Packaging Solutions
- Parekhplast India Limited
- Schutz GmbH & Co. KGaA
- Plas-Pak WA Pty Ltd.
- IPACKCHEM Group SAS
- Barrier Plastics Inc.
- Rheem Indonesia. PT
Jerry Cans Market by Category
By Material:
- Plastic
- Metal
By Capacity:
- Below 10 Liters
- 10 Lt to 25 Liters
- Above 25 Liters
By End Use:
- Food & Beverage
- Vegetable Oil
- Juices & Milk
- Agrochemicals
- Fertilizers
- Pesticides
- Industrial Chemicals
- Hazardous
- Non-hazardous
- Petroleum & Lubricants
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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