Five Gallon Plastic Pails Market Growth Rate, Share, Size, Forecast 2022- 2030 in Market Research Community

Five Gallon Plastic Pails Market Insights:

Five Gallon Plastic Pails Market size was valued at USD 303.10 Million in 2021, registering a CAGR of 5.8% during the forecast period (2022-2030), and the market is projected to be valued at USD 496.22 Million by 2030.

The five-gallon plastic pails market is a growing segment of the packaging industry, driven by increasing demand for durable and cost-effective packaging solutions across a wide range of applications. Five-gallon plastic pails are commonly used for packaging industrial chemicals, paints, coatings, adhesives, and other viscous products.

The five-gallon plastic pails market can be segmented by material type, end-use industry, and region. By material type, the market can be divided into high-density polyethylene (HDPE), polypropylene (PP), and other materials. HDPE is the most commonly used material for five-gallon plastic pails, due to its excellent chemical resistance, durability, and low cost. By end-use industry, the market can be divided into paints and coatings, chemicals, food and beverage, and others. By region, the market can be divided into North America, Europe, Asia-Pacific, and Rest of the World.

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According to a recent market research report, the global five-gallon plastic pails market is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028, reaching a market value of approximately $1.6 billion by the end of the forecast period. The HDPE segment is expected to hold the largest market share during the forecast period, due to its widespread use in the packaging of chemicals and industrial products.

North America is currently the largest market for five-gallon plastic pails, driven by the presence of major players in the industry and the high demand for packaging solutions in the region. Europe is also a significant market for five-gallon plastic pails, particularly in the paints and coatings industry where plastic pails are increasingly being used as a replacement for metal containers. Asia-Pacific is expected to be the fastest-growing market for five-gallon plastic pails, driven by the increasing demand for industrial chemicals and paints and coatings in the region.

Market Segmentation

By Type:
Food Grade, Industrial Grade

By Application:
Food and Beverage, Chemical, Construction

By Geography:

North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America- (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa- (GCC, Turkey, South Africa, and the Rest of MEA)

Key Players:
MAUSER PACKAGING SOLUTION, Time Technoplast Ltd., BERRY GLOBAL GROUP, INC, Hitech Group, NCI Packaging, Jokey SE and Leaktite Corporation

In terms of end-use industry, the paints and coatings segment is expected to hold the largest market share during the forecast period, due to the high demand for durable and cost-effective packaging solutions in this industry. However, the food and beverage segment is expected to grow at a faster rate, driven by the increasing demand for plastic pails for the packaging of bulk food products such as sauces, syrups, and condiments.

In conclusion, the five-gallon plastic pails market size is a growing segment of the packaging industry, driven by increasing demand for durable and cost-effective packaging solutions across a wide range of applications. The market can be segmented by material type, end-use industry, and region, and is projected to reach a market value of approximately $1.6 billion by 2028. With increasing demand for industrial chemicals, paints, coatings, and bulk food products, the five-gallon plastic pails market is expected to continue to grow in the coming years.

The study provides answers to the following key questions:                                                                                                                                                         

• What type of customers buying the products and services from companies operating in the Five Gallon Plastic Pails Market?
• What will be the roadmap for the product manufacturers operating in the Five Gallon Plastic Pails Market industry for the forecast period, 2023 to 2030?
• What are the recent developments in the competitive landscape to look out for during the estimated period?
• What are the major trends influencing customers’ lives and their buying behaviour?
• How can brands best communicate with the customers they intend to target?
• When, where and how the customers want to use or consume the products or services?

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