Plastic Pail Market Outlook for (2023 to 2033)

The global Plastic Pail Market valuation is USD 569,627 million in 2023 and is expected to reach USD 859,308 million by 2033. The global market is likely to capture a CAGR of 4.2% during the forecast period.

Attributes Details
Plastic Pail Market Size, 2023 USD 569,627 million
Plastic Pail Market Size, 2033 USD 859,308 million
Value-based CAGR, 2023 to 2033 4.2%

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Key Points Flourish the Global Plastic Pail Market Growth

Numerous factors drive the global market share. A few of these are as follows:

Packaging Industry Growth: Increasing demand for packaging products among various industries such as food and beverages, pharmaceuticals, agriculture, and chemicals is raising the adoption of plastic pails.

Durability and Versatility: Consumers' demand for high-durable, cost-effective, and versatile packaging is fueling sales of plastic pails. Manufacturers widely accept these pails to store a wide range of products for consumer and industrial applications.

Lightweight: End-use industries choose plastic pails due to their lightweight materials that reduce transportation costs.

Sustainability: Growing concerns about rising environmental pollution are shifting the focus to the development of sustainable packaging solutions. The demand for plastic pails is rising due to its recyclable options that attract end users' demand.

Safety and Convenience: Plastic pails are growing in popularity among consumers due to the high safety of product packaging. These pails are convenient and are widely adopted by the pharmaceutical and food sectors.

Customization and Branding: Manufacturers offer a wide range of plastic pails per consumers' requirements. They are raising the demand for custom plastic pail solutions for advertising their products through labels, logos, and brand visibility, fueling market growth.

Regulations: Manufacturers are focused on maintaining high-quality products by focusing on guidelines and stringent regulations to reduce hazardous material uses.

Advanced Technology: The growing manufacturing and plastic molding technologies are increasing the adoption of plastic pails. The manufacturers are adding advanced features to enhance the performance of the product and look aesthetic.

Global Trade: The demand for plastic pails significantly plays a crucial role in shipping and transporting goods across borders, driving market growth.

Challenges in the Plastic Pail Market Growth

Environmental Concerns: Reducing the usage of plastic in several countries due to environmental issues. Rising awareness to reduce plastic usage and focus on eco-friendly packaging are limiting the demand for plastic pails.

Price Volatile: The fluctuations in raw material prices affect profit margins due to production costs that may decline the market growth.

Economic Factors: Affecting consumer spending due to economic downturns is reducing the demand for plastic pails in several countries.

Supply Chain Disruptions: The rising global crisis, natural disasters, and war among nations are lack of supply chains. On the other hand, the unavailability of raw materials and manufacturing capacity may also impact supply chains.

Shifting Preferences: Changing consumer preferences toward better packaging styles may reduce the demand for plastic pails.

Ismail Sutaria
Ismail Sutaria

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Historical Performance and Future Growth in the Plastic Pail Market

The global market grew at a steady historical growth, with a valuation of USD 525,886 million in 2022. The global market secured a CAGR of 2.5% from 2018 to 2022. The growing manufacturing sector in various countries is significantly increasing the adoption of plastic pails. These industries are expected to expand the global market revenue through smart manufacturing technologies to capture consumers' attention.

Plastic Pail Market Value, 2022 USD 525,886 million
Historical CAGR, 2018 to 2022 2.5%

Consumers are accepting their pails due to packing a wide quantity of products with a variety of sizes and expanding the market size. South Asian countries are drastically increasing the production of plastic pails due to growing industries, urbanization, and population.

During the pandemic, the production of plastic pails slowed down for a moment, and it has continued to fuel in recent times. The global market is likely to continue to surge at its significant growth during the forecast period.

Country-wise Insights

Countries Forecast CAGR (2023 to 2033)
United States 3%
Canada 3.7%
China 5.5%
Japan 3.9%
India 4.9%
Indonesia 4.7%

Growing Manufacturing Industry Drives the United States Market

The United States market is estimated to secure a CAGR of 3% through 2033. The several factors influencing the United States plastic pail market are as follows:

Regulatory Compliance: The imposing stringent regulations by agencies such as the Food and Drug Administration are increasing the demand for plastic pails. These regulations meet specific desires in food chemical storage and packaging with advanced safety.

E-commerce Growth: The rapidly surging e-commerce sector is fueling the demand for plastic pails for packaging goods. Consumers seek various plastic pails through online shopping, and they ship products to their doorstep without hassle.

Agriculture and Agribusiness: The increasing demand for agriculture chemicals, pesticides, and fertilizers is rapidly increasing the adoption of plastic pails. The United States has a significant requirement for these pails due to the vast agriculture and agribusiness industries.

Manufacturing and Chemical Sector: The United States is a hub of the manufacturing industry that relies on huge quantities of plastic pails for several industries, such as chemicals, coatings, paints, and others.

Sustainability Initiatives: The key companies are growing awareness of sustainability and initiating several recycling programs to reduce carbon footprints.

Rising Trade and Export Activities Propel Growth in the Canada Market

Canada is estimated to register a CAGR of 3.7% in the global market during the forecast period. Several key factors are advancing the Canadian plastic pail market as follows:

Resource and Mining Industries: Canada is rich in resource, and mining that heavily relies on plastic pails for safe and convenient transportation are boosting demand.

Food and Beverages Export: The rising trade and export activities to supply numerous food items across the globe are increasing the demand for plastic pails. These pails are reliable and sturdy for packaging, ensuring quality during transporting and shipping.

Awareness: Consumers are actively increasing the adoption of sustainable packaging solutions that significantly promote a healthy environment.

Tourism Sector: The increasing adoption of plastic pails for packaging outdoor and adventure products, including outdoor gear and cabin maintenance paints.

Government Initiatives Boom China’s Revenue in the Global Market

The market in China is anticipated to secure a CAGR of 5.5% in the global market during the forecast period. Several factors are upsurging China's plastic pail market are mentioned below:

Manufacturing Hub: China is manufacturing a wide range of products in various industries around the globe, accelerating the demand for plastic pails.

Agriculture Expansion: Increasing demand for agriculture crops, pesticides, and chemicals is increasing the adoption of plastic pails for vast storage, which is fueling the market size.

Rising Middle Class: Increasing demand for consumer goods required better and reliable packaging solutions are preferring plastic pails. These adoptions enhance and improve packaging solutions in personal care products and are attracting demand.

Aging Population Brings Lucrative Opportunities in Japan Market

Japan is likely to capture a CAGR of 3.9% in the global market during the forecast period. Several key aspects are advancing the Japanese plastic pail market as follows:

Advanced Technology: Ongoing advanced technologies in manufacturing are surging the adoption of plastic pails for safe and convenient storage. These pails are able to store high-quality consumer electronic products with safe transportation.

Aging Population: The aging population is rapidly growing in the healthcare and pharmaceutical sectors. These sectors are expanding the global market revenue due to its medical packaging products and devices.

Consumer Preferences: The growing consumer's preference for valuable packaging solutions and innovative, functional, and well-designed plastic pails for cosmetic products is expanding the market revenue.

Flourishing Chemical Sector Significantly Booming Indian Market

India is estimated to secure a CAGR of 4.9% in the global market during the forecast period. Several factors are propelling the Indian plastic pail market are as follows:

Agriculture Dominance: India is an agricultural land that widely relies on plastic pails for packaging agriculture-related products to enhance crop productivity.

Growing Chemical Sector: The chemical sector is significantly booming in the country. The increasing demand for safe chemical storage is surging, and the adoption of plastic pails in different size are driving the market size.

Rural Expansion: The growing activities such as construction water storage in rural markets are bringing opportunities in plastic pails.

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Category-wise Insights

Close Top/Head Plastic Pails Gains Dominance in the Market by Product Type

Top Product Close Top/Head Plastic Pails
CAGR (2023 to 2033) 4.6%

Based on product type, close top/head plastic pails dominate the global plastic pail market by securing a CAGR of 4.6% during the forecast period. The increasing demand for closed top/head plastic pails for secure and protective closure against moisture drives consumers' requirements. It also requires high safety during packaging and storing food ingredients.

End users widely accept close top/head plastic pails for their durability and sturdiness against harsh environmental conditions. These pails are able to secure and ensure the quality of products with tamper-evident features that attract consumers' desires. The closed top/head plastic pails enhance product longevity and maintain quality over an extended period.

5 to 10 Liters Capacity Leads with 4.6% of CAGR Gains

Top Capacity 5 to 10 Liters
CAGR (2023 to 2033) 4.6%

Based on capacity, the 5 to 10 liters segment is estimated to dominate the global plastic pail market by securing a CAGR of 4.6% by 2033. The increasing demand for storing versatile packaging products for liquids and solids is increasing the adoption of 5 to 10 liters capacity. This mid-sized capacity is effectively used for packaging due to its storage volume and size surging the demand among businesses for sufficient storage.

5 to 10 liters capacity is useful for bulk packaging by manufacturers in several end-use industries. These are easy to handle, transfer, and distribute and are popularly growing consumers' attention with their convenience. The 5 to 10 capacity plastic pails are crucial for the food and pharmaceutical sectors to have a reliable solution and ensure product integrity.

Competitive Landscape in the Plastic Pail Market

The global plastic pail market is highly consolidated by the number of prominent players globally. The essential players are making efforts to carry out advanced and unique products by investing their robust amount in research and development activities. These players are expanding the global market reach by making products that attract consumers' desires.

Key players are the backbone that helps to stand business on their feet. They are adopting various marketing tactics to capture rapid market revenue. These marketing tactics are mergers, agreements, collaborations, product launches, and partnerships.

Key Companies in the Global Plastic Pail Market

  • Time Technoplast Ltd.
  • Greif Inc.
  • Mauser Group N.V.
  • NCI Packaging
  • FDL Packaging Group
  • Great Western Containers Inc.
  • Berry Global, Inc.
  • Rieke Corporation
  • M&M Industries, Inc.
  • Balmer Lawrie & Co. Ltd.

Recent Development in the Global Plastic Pail Market

In 2020, Mauser Group N.V. invested in the manufacturing sector to expand its business portfolio and enhance production capabilities in Germany.

Key Segments in the Global Plastic Pail Market

By Product Type:

  • Open Top/Head
  • Close Top/Head

By Material Type:

  • PE
  • PP
  • PET
  • PVC
  • Others

By Capacity:

  • Up to 3 Liters
  • 3 to 5 Liters
  • 5 to 10 Liters
  • 10 to 20 Liters
  • Above 20 Liters

By End Use:

  • Paints & Coatings
  • Inks, Dyes & Pigments
  • Petroleum & Lubricants
  • Agrochemicals & Fertilizers
  • Food & Beverage Ingredients
  • Other Industrial Use

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Plastic Pail Market?

The plastic pail market value is USD 569,627 million in 2023.

Which Country is Leading the Global Plastic Pail Market?

The United States is leading the market for plastic pails.

What is the Plastic pail Market CAGR through 2033?

The plastic pail market is likely to capture a CAGR of 4.2% through 2033.

What is the Current Plastic Pail Market Trend?

The growing focus on sustainability and safe packaging solutions.

Who are the Key Players in the Plastic Pail Market?

M&M Industries, Inc. And Balmer Lawrie & Co. Ltd are the key players in the plastic pail market.

Table of Content
	1. Executive Summary
	2. Market Overview
	3. Market Background
	4. Global Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
	5. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
		5.1. Open Top/Head
		5.2. Close Top/Head
	6. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Material Type
		6.1. PE
		6.2. PP
		6.3. PET
		6.4. PVC
		6.5. Others
	7. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Capacity
		7.1. Up to 3 Liters
		7.2. 3 to 5 Liters
		7.3. 5 to 10 Liters
		7.4. 10 to 20 Liters
		7.5. Above 20 Liters
	8. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use
		8.1. Paints & Coatings
		8.2. Inks, Dyes & Pigments
		8.3. Petroleum & Lubricants
		8.4. Agrochemicals & Fertilizers
		8.5. Food & Beverage Ingredients
		8.6. Other Industrial
	9. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
	10. North America Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	11. Latin America Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	12. Western Europe Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	13. Eastern Europe Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	14. South Asia and Pacific Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	15. East Asia Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	16. Middle East and Africa Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
	17. Key Countries Industry Analysis and Outlook
	18. Market Structure Analysis
	19. Competition Analysis
		19.1. Time Technoplast Ltd.
		19.2. Greif Inc.
		19.3. Mauser Group N.V.
		19.4. NCI Packaging
		19.5. FDL Packaging Group
		19.6. Great Western Containers Inc.
		19.7. Berry Global, Inc.
		19.8. Rieke Corporation
		19.9. M&M Industries, Inc.
		19.10. Balmer Lawrie & Co. Ltd.
	20. Assumptions & Acronyms Used
	21. Research Methodology
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