The most recent study conducted by Report Ocean, titled “Global Packaging Jars Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Packaging Jars. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Packaging Jars Market is valued approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than 2.9 % over the forecast period 2022-2028. The packaging jars are widely used for a several of purposes, including the storage of food, detergents, chemicals, and other items. Along with consuming as storage containers, packaging jars play a crucial role in avoiding leakage of all kinds and protecting stored goods and enhance shelf life of goods. The packaging jars can also be recycled and used again. Reusability is considered as a cost-effective alternative to purchasing more use-and-throw jars, which can result in significant savings.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The fact that these packaging jars may be recycled implies that they are environmentally friendly and would support sustainable development over the long term. The key factor driving the market growth is growing FMCG sector, packaging jars are widely used in FMCG industry for packaging several food items, detergents, and spices. Thus, the growth of FMCT industry is anticipated to increase the market growth. According to India Brand Equity Foundation, in 2018 the value of FMCG sector in India was USD 68.4 billion and the number reached USD 110 billion in 2020. Additionally, another factor driving the market growth is growing adoption of sustainable packaging jars.
Thus, creates the lucrative demand for the market. For instance, in 2021, APC Packaging launched new sustainable Jar & Cap Series to meet the sustainability needs of skincare and beauty brands. Also, growing end use industries are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, rising prices of the raw materials and stringent government regulations impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Packaging Jars Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading region across the world in terms of market share owing to the growing demand of packaged food in the region. Whereas, North America is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the growing end use industries such as FMCG, hospitality, and chemical in the region, would create lucrative growth prospects for the global Packaging Jars Market across the North America region.
Major market players included in this report are:
Owens Illinois Group Inc.
Amcor Ltd
Owens Bottle company
Berry Global Inc.
Graham Packaging Company Inc.
Ball Corporation
Silgan Holdings Inc.
AG Poly Packs Ltd.
Olcott Plastics, Inc.
Cospak Pty Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material:
Metal
Plastic
Glass
Others
By Size:
Small
Medium
Large
Very Large
By End Use Industry:
Food & Beverages
Personal Care & Cosmetics
Homecare
Chemicals
Pharmaceuticals
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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