From 2020 to 2028, the global cubitainers market would witness significant increase in market revenue.
Notable factors of growth, driving it on an upward growth trajectory, are increase in demand for these products in the food and beverages, and chemicals industry.
As per Transparency Market Research, “Growth rate of 6.4%, compounded annually, will mark the global cubitainers market over the forecast period.
It notes that the sake brewery industry will generate notable demand for cubitainers in the market. Reasons for the increase are their cost-effectiveness, ease of handling and convenient storage.”
Key Findings of Global Cubitainers Market Study:
- Lucrative growth opportunities will be provided by industrial goods industry over the forecast period
- On the basis of end-users, food and beverages industry will contribute massively to growth in the market
- Under the material type category, LDPE (Low Density Polyethylene) segment will dominate growth
- In terms of capacity, the 3-10L containers are set to be a prominent segment in the global cubitainers market
Key Drivers of Growth in Global Cubitainers Market:
Efficient packaging solutions – that ease storage and handling of liquid products – are witnessing growing demand in a number of industries such as chemicals and pharmaceuticals.
This is leading to growth in the global cubitainers market. Transparency Market Research notes that there are several other factors that are set to keep the market buoyant. A synopsis of the same is provided below:
- Increasing awareness regarding need to reduce carbon-footprint is driving up demand for green products in the market
- Since plastic cubitainers are recyclable and reusable, these will witness increase in demand over the forecast period
- Growing middle class across the world is contributing to increase in demand for alcoholic beverages, fuelling growth in cubitainers market
- Demand for packed liquid products is growing owing to ease of use and better shelf-life and this is set to drive the market forward over the forecast period
Regional Analysis of Global Cubitainers Market:
- Europe is set to hold a prominent share of the global cubitainers market over the forecast period
- Growth of the regional market will primarily be owed to growing preference for cubitainers for packaging liquid products
- In developing countries, increase in disposable income will lead to higher demand for energy drinks and alcoholic beverages, leading to growth in cubitainers market
Competitive Landscape of Global Cubitainers Market:
There are a decent number of players operating in the global cubitainers market. A handful of these players accounts for a major share of the market, making it a consolidated vendor landscape.
Some of the top players that mark the landscape are Fujimori KOGYO CO., LTD., RPC Promens and SEKISUI SEIKEI CO., LTD, Koizumi Jute Mills Ltd., Changzhou Sanjie Plastic Products Co., Ltd, and ChangZhou HengQi Plastics Co., Ltd, among others.
Transparency Market Research profiled these in a comprehensive manner. Players have been segmented into tier slabs, based on market share and revenue.
It also notes that top players are directing efforts towards increase in production capacity.
It is significant to point out here that product development is a key focus area for players looking for growth in the current market scenario.
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