The plastic pails market was valued at around over $5 billion and is anticipated to reach revenues of almost $7 billion by 2020.
Procurement market intelligence analysts have announced the top five leading suppliers for plastic pails in their latest research report. In terms of geography, APAC enjoys the largest market share and is expected to showcase growth at a CAGR of more than 5% during the forecast period, 2016-2020. The growth of the plastic pails market in APAC will be fueled by the increase in disposable incomes and urbanization.
This category spend intelligence report is based on the synthesis, analysis, and interpretation of information about the global plastic pails market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
According to Angad Singh, a category specialist at Technavio, “Suppliers in the plastic pails market space are increasingly investing in R&D to innovate and develop new technologies. This trend is spurred by the upsurge in demand for plastic pails in the global market and the subsequent need to lower costs and improve packaging capabilities. Suppliers in the market are implanting advanced technologies, such as modern microprocessor-based controllers and intelligent control systems, to make hi-tech plastic pails that can withstand extreme temperature and pressure. Suppliers are also transitioning to the use of lightweight materials to manufacture rigid plastics to tackle dilemmas such as volatile energy prices, cost cutting, and environmental concerns.”
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Top five suppliers in the plastic pails market space
BERRY PLASTIC
Berry Plastic operates through 121 manufacturing sites that offer products to around 16,900 companies located across the globe. Since its incorporation, the company has been involved in around 40 M&As in an attempt to improve its product portfolio and technical capabilities. As of 2015, the company holds around 1,286 active patents related to packaging.
Key products – Round containers, Rectangular containers, Vapor lock lids, Single seal lids, and Double seal lids.
RPC
RPC’s subsidiary, Superfos, is the sole division of the company involved in the manufacture of food and non-food pails. The company has 14 production facilities located across nine countries that manufacture food and non-food packaging products. As of 2015, the company has a production capacity of more than 6 billion units per annum. RPC also offers features such as offset decoration, preprint, and tamper-evident lids in its packaging products.
Key products – Round containers, Cubical containers, Oval containers, and Hlaf-moon containers.
PACT
Pact has 68 manufacturing sites spread across seven countries. The company has a strong market presence in Australia and New Zealand. As of 2015, PACT had a clientele of around 6,500 companies. It made 52 acquisitions and entered into partnerships with around 20 global technological partners since 2002.
Key products – Round containers, Square containers, and Re-sealable and Tamper-evident lids.
TRICORBRAUN
TricorBraun has a significant market presence in the US. The company also has operational presence in India, China, Mexico, and the UK but no significant presence in Africa or the Middle East. The company has a portfolio of more than 50 products. The company’s offerings include child warning labels and tamper-evident lids.
Key products – Round containers, Square containers, Rectangle containers, and Tight head containers.
BWAY
BWAY has 15 manufacturing facilities dedicated to plastic packaging and one dedicated to hybrid packaging. The company is involved in partnerships with 18 companies to enhance geographical reach and improve customer service. In 2015, BWAY earned more than 75% of its revenue from the industrial packaging segment.
Key products – Round containers, Square containers, Rectangle containers, and Twist and lock containers.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Plastic Pails – Procurement Market Intelligence Report 2016’.
