According to latest research study by FMI, canning jars market is set to witness an impressive CAGR of more than 5.0% during the forecast period. Demand for canning jar is poised to witness steady recovery in short-term, with optimistic growth outlook in the long-run. Muted demand from food & beverages and packaging industry, due to COVID-19 pandemic is anticipated to limit the opportunities by 2021.
Additionally, the surging demand for non-reactive jars from chemical industries across the globe is predicted to generate momentum in production volume of glass jars. It will lead to provide promising stance to the manufactures during the forecast period.
Surging demand from end-users for lightweight and durable jar for preserving food and other applications is poised to give a positive impact to the production rate. It will lead to provide an opportunity for cash flow generation during the forecast period.
The increasing research & development activities in chemical industry around the world is anticipate to utilize non-reactive jar for chemical storage. This is anticipated to provide abundant opportunities for cash flow generation to the manufacturers.
The intensifying consumption of energy drinks across the globe is likely to give a push to the demand for canning jars. It is likely to generate momentous sale in next couple of years.
The expanding food and beverages industry in prominent regions, is anticipated to utilize canning jars. It is projected to provide plethora of opportunities to the manufacturers.
In addition canning jars reduces the food contact with environment, it will lead to prevent the reaction of air, moisture and other elements. It is expected to increase the lifetime of preserved food. Due to this, canning jars are extensively been utilized for residential purposes across the globe.
Food & beverages industry’s sale around the globe have been impacted by COVID-19 protocols. This has also had a ripple effect on the packaging, retail and chemical industry sale as well. Due to this, the demand for canning jars has been constrained in Q3 and Q4 of 2020 and impacted the production volume and exportation.
The lightweight, leak-proof, durable and non-reactive canning jars are the lucrative avenue from the consumers end, leading manufacturers has utilized this time for product development and intensifying product portfolios. It will lead to provide new opportunities for manufacturers in upcoming years.
The historical trend is anticipated to give optimistic growth rate in near future. The surging investment on laboratories in schools and medical college is anticipated to rise the utilization.
North America is one of the largest markets for canning jars globally, due to presence of leading manufacturers. North American market is set to follow the upward pattern during the assessment period due to high demand from countries such as U.S, Canada and Mexico. The surging retail sector in U.S. is expected to drive the market during the forecast period.
Asia Pacific region also hold the significant market share of global canning jars market. The population of key countries such as China and India is anticipated to utilize canning jars for residential purposes. Moreover, industrial application also accounts noteworthy demand in this region.
The expanding food and beverages industries and surging per capita income in Europe is anticipate to provide plethora of opportunities to the manufactures. Food & beverages industries has witnessed considerable demand for straw based canning jars in historical years and likely to follow the same trend during the forecast period.
Some of the leading manufacturers and suppliers of canning jars include
The key companies across the globe are looking forward for product advancement since storage challenges are associated with residential, packaging, food & beverages and chemical industries. Key manufactures are spending their investments on using alternating plastic, polymers based products as raw material.
Additionally, high investment on R&D will lead to reduce the effect of temperature, surrounding environment. It will lead to reduce the reaction rate of jar with material and likely to attract new consumers across the globe during the forecast period.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
The glass type canning jars accounts for convenient demand for residential application such as preserving food and kitchens application. Glass is considered a safest material for storage application, it will lead to intensify the utilization of glass based canning jars in next couple of years.
The transparent jars also accounts for noteworthy demand since, it does not consume extra time for selecting a particular thing. This segment is considered to be a lucrative avenue from laboratories and residential applications.
Moreover, swing top type canning jars are considered to be air tight compare to the cap type. It is expected to extensively utilize for residential purposes. Due to this, it is poised to generate significant opportunity in upcoming years.
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Canning Jars Market
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