Cubitainers Market (Capacity: Within 3 Liter, 3-10 Liter, 10-20 Liter, and Above 20 Liter; Material: Low Density Polyethylene [LDPE], Linear Low Density Polyethylene [LLDPE], and High Density Polyethylene [HDPE]; and End User: Food & Beverages, Pharmaceuticals, Chemicals, and Other Industrial Goods) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2028
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Growing Demand for Convenient and Sustainable Packaging Solutions to Boost Market Growth
Over the course of the last couple of decades, the packaging sector has evolved at a rapid pace driven by a range of factors. At present, the packaging sector is largely driven by the booming demand from the food & beverages sector, growing consumer awareness pertaining to materials used in packaging solutions, and rising demand for convenient packaging. At present, consumers are largely inclined toward opting for packaging solutions that offer convenience and are made from sustainable materials. While environment protection continues to remain the primary factor, packaging companies are also likely to focus on innovations to gain a competitive edge.
The evolving nature of the packaging requirements of the various industrial domains has compelled the packaging sector to consistently invest in research and development activities. In line with the growing demand for convenience and safety, cubitainers have emerged as an ideal packaging solution and increasingly being used across an array of industries, including food & beverages, chemicals, and pharmaceuticals. Moreover, the augmenting demand for portable packaging solutions is another factor that is projected to aid the growth of the global cubitainers market during the assessment period.
As players involved in the current market for cubitainers are increasingly focusing on aesthetics, design, functions, and user-convenience, the demand is projected to witness a steady growth in the upcoming years. In addition, as more number of cubitainer manufacturers are operating in-sync with requirements of the FDA, the overall prospects of the global cubitainers market indicate a positive outlook during the forecast period. At the back of these factors, the global cubitainers market is expected to attain a market value of ~US$ 153 Mn by the end of 2030.
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Companies Likely to Focus on Customization as Bespoke Cubitainers Gain Popularity
While market players continue to lean toward the production of flexible and rigid cubitainers, customization is expected to remain another key area of interest for market players. In addition, as more number of players continue to enter the global cubitainers market, environment sustainability, quality, and costs are some of the other parameters that are projected to remain a differentiating factor for end users. Another major trend that is expected to set the ball rolling for the growth of the global cubitainers market is customization. Market players in the current market landscape are offering a range of configuration options to their customers due to which, the demand for customized cubitainers is projected to move in the upward trajectory during the assessment period. In comparison with the other compact packaging alternatives, including blow molded tight head (TH) pails and rigid open head pails, cubitainers are light in weight, offer maximum handling convenience, provide optimum space utilization, improves durability, and considerable reduces overhead costs.
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In addition, as most cubitainers can be manufactured using in-line filling machines, the product has gradually garnered considerable attention across the packaging sphere. In addition, cubitainers also play an imperative role in minimizing transportation costs due to which, the demand continues to grow at an impressive pace.
LDPE Cubitainers Expected to Remain Most Popular
Due to stringent regulations pertaining to the environment and mounting pressure from regulatory bodies, the packaging sector is gradually evolving. As cubitainers gain popularity, market players are projected to focus on exploring the benefits of different materials for the production of cubitainers. At present, despite polymers making a strong case, LDPE has emerged as a material of choice among cubitainer manufacturers, as LDPE can be efficiently recycled, is cost-effective, and highly resistant to chemicals and moisture. The growing demand for LDPE cubitainers is anticipated to play an imperative role in boosting the growth of the global cubitainers market during the assessment period.
High Demand from Pharmaceutical Sector amid COVID-19 Pandemic to Aid Market Growth
The ongoing COVID-19 pandemic is expected to have a short-term impact on the overall growth of the cubitainers market. The demand from the pharmaceutical and the chemical sector amid the ongoing COVID-19 pandemic is expected to have a positive impact on the growth of the market for cubitainers in 2020. As research and development activities continue to ramp up around the world toward the discovery of the COVID-19 vaccine, pharmaceutical and chemical sectors have emerged as prominent end-use industries amid the ongoing health crisis.
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The global cubitainers market is expected to grow at a CAGR of 6.4% during the forecast period. The market growth is largely driven by the growing demand for cubitainers from the food & beverages, pharmaceuticals, and chemical sectors. In addition, the growing demand for customized, portable and convenient packaging solutions is another factor that is anticipated to propel the overall growth of the cubitainers market during the assessment period. Market players should focus on design and explore the potential advantages of different materials to launch environment-friendly and cost-effective products and gain a solid footing in the current market landscape.
Cubitainers Market: Overview
- According to Transparency Market Research’s latest report on the global cubitainers market for the forecast period of 2020-2028, the market is estimated to be driven by growing demand from the food & beverage industry. The global cubitainers market is expected to expand at a CAGR of 6.4% during the forecast period.
- Several beverage packaging manufacturers prefer cubitainers for non-alcoholic and alcoholic beverages, owing to its non-toxic feature, which prevents contamination and maintains quality of the product. This is likely to boost the growth of the cubitainers market across the globe.
Cost Effectiveness of Cubitainers Anticipated to Increase Demand from Manufacturers
- Cubitainers are cost-effective and efficient as 97-100% of the product reduces product waste. Cubitainers are also lightweight, which in turn reduces overall transportation and handling costs.
- Moreover, high barrier films such as EVOH used as bladders in cubitainers help food & beverage product manufacturers to extend shelf life of their products. Extended shelf life of products allows retailers to increase shelf display time, which, in turn, helps minimize product wastage. The aforementioned attributes are collectively expected to drive the demand for cubitainers during the forecast period.
Product Development Likely to be Key Focus Area for Players in Cubitainers Market
- Manufacturers are highly focusing on the development of high-quality and multi-purpose cubitainers. Thus, key players lay emphasis on various inspections and certification procedures to ensure optimal quality of the product.
- For instance, Zacros America Inc. developed advanced cubitainers known as “RECTAINER”. The container has the capacity of 10L and is ideal for vinegar, refined sake, shochu (Japanese spirits), milk, liquid seasoning, etc.
- RPC Promens launched “multitainers”, which is a combination package with integrated handle and neck. The capacities available are 5L and 10L.
Cubitainers Market: Key Findings
- Globally, 3-10L cubitainers are estimated to dominate the global cubitainers market by end of 2028 with around 1/3rd of the market share and is expected to witness significant growth during the forecast period, which can be mainly attributed to ease of transportation and shipment
- As per material type, cubitainers made from Low Density Polyethylene (LDPE) remains prominent in the global market attributing to factors such as economical costs, wide availability, and moisture resistant properties
- Among end users, the food & beverages industry is anticipated to dominate the cubitainers market during the forecast period. Suitability of cubitainers for storing and transporting food and beverages whilst maintaining the quality and safety of products is likely to lead to higher adoption of cubitainers.
- As per the TMR analysis, industrial goods industry provides lucrative growth opportunities for cubitainers. Cubitainers are made using proprietary blends of FDA-compliant resins, which are flexible enough to handle products ranging from battery acid, salines, adhesives, and spirits. Following this, the global market of cubitainers for industrial goods is expected to expand at a CAGR of 7.6% between 2020 and 2028.
- In terms of market share, Europe is a prominent region in the global cubitainers market. The region is mainly driven by manufacturers preferring cubitainers for packaging various liquids.
Cubitainers Market: Competition Landscape
- TMR analysed that the global cubitainers market displays consolidated landscape, owing to the presence of existing big players
- Some of the key players operating in the global cubitainers market are
- Fujimori KOGYO CO., LTD.
- RPC Promens and SEKISUI SEIKEI CO., LTD
- Koizumi Jute Mills Ltd.
- Changzhou Sanjie Plastic Products Co., Ltd
- ChangZhou HengQi Plastics Co., Ltd.
- TMR distinguished these cubitainers market players as per their segmental earnings into different tier slabs. The tier structure is formulated on the basis of segmental revenue and market share of the company. As per the tier structure, Fujimori KOGYO CO., LTD., RPC Promens, and SEKISUI SEIKEI CO., LTD are the Tier 1 players in the cubitainers market. These players are focusing on expansion of their production capacity and enhancing their product quality to increase its footprint across the globe. Tier 2 players include Silgan Koizumi Jute Mills Ltd., Changzhou Sanjie Plastic Products Co., Ltd. and ChangZhou HengQi Plastics Co., Ltd., and other market players.
COVID–19 to Augment Demand for Cubitainers
- During the global pandemic, the packaged food sector is anticipated to boom, as people are opting for packaged food & beverage products, owing to hygiene and safety concerns, which is expected to have a positive impact on the global cubitainers market
- A large population is under lockdown and isolating, which has led to increase in demand for home cooked meals; thus, the demand for sauces, dressings, wines, vinegar, and condiments has witnessed a rise. This has led to rise in demand for cubitainers, as it allows consumers to buy food and beverages in large quantities with increased shelf life.
- Furthermore, COVID-19 has disrupted the supply chain of all businesses across the world, impacting the packaging industry as well. Problems such as shortage of raw materials and hurdles in sourcing material for manufacturing cubitainers such as Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), and High Density Polyethylene (HDPE) have a significant impact on manufacturing of cubitainers. Furthermore, fall in demand from other end-use industries of cubitainers such as industrial goods would lead to slow growth of the market.
- However, the market is likely to recover steadily as nations lift lockdowns as the demand for food and beverages, pharmaceuticals, chemicals, and other essential industrial goods is likely to continue
Cubitainers Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global cubitainers market, providing forecast for the period of 2020-2028. In the study, growth opportunity for the cubitainers market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the cubitainers market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Cubitainers Market Report
- What will be the impact of COVID 2019 on cubitainers market?
- Which end users will be the most lucrative for cubitainers?
- What will be market size for cubitainers by the end of 2028?
- Which is the most preferred capacity for cubitainers in the global market?
- Which region will remain most lucrative for market growth?
- Which are the top five countries of cubitainers market?
- Which material holds maximum market share in the global cubitainers market?
- Who are major key players in the cubitainers market?
Key indicators associated with the cubitainers market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global cubitainers market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of cubitainers. Furthermore, forecast factors and forecast scenarios of the cubitainers market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the cubitainers market are provided on the basis of capacity, material, end user, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments have been provided in the report. The cubitainers market has been analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the cubitainers market, in tandem with the dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of cubitainers manufacturers by leveraging an intensity map. It also highlights key end users for cubitainers.
The report includes company overview of key players. Some of the key companies profiled in the cubitainers market report include Fujimori Kogyo Co.,Ltd. (Zacros), Sekisui Seikei Co., Ltd., RPC Promens (RPC Group), The Koizumi Jute Mills Ltd., Changzhou Sanjie Plastic Products Co., Ltd and ChangZhou HengQi Plastics Co., Ltd.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the cubitainers market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the cubitainers market. The report has undergone a cross-validation by in-house professionals to make the cubitainers market report one-of-its-kind with highest credibility.
Cubitainers Market – Segmentation
The global cubitainers market has been divided on the basis of capacity, material, end users, and region. Each of these segments are analyzed to provide readers with holistic view of the market.