Pocket Containers Market to Grow at a CAGR of 5.6% through 2026
Posted: May 30, 2018
As miniaturization continues to trend across the global manufacturing landscape, products are becoming smaller and compact, which has characteristically influenced the need to contain them. Medications has transformed from syrups to pills, electronic devices such as wireless ear-buds have replaced their corded counterparts, and tools of daily use have become more compact for convenient storage. Collectively, such transformations have influenced packaging companies to offer containers that help consumers store miniaturized things conveniently in their pockets. There has been a steady upsurge in demand for pocket containers, wherein their presence continues to gain prevalence across global customer bases. To capture the changing requirements of customers, manufacturers are offering pocket containers with advanced features such as moisture resistance and air-tight concealment.
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Future Market Insights foresees the global demand for pocket containers to grow steadily in the due course of the forecast period, 2017-2026. During this period, the global market for pocket containers is assessed to expand at an estimated 5.6% CAGR in terms of value. Easy adaptability of manufacturers in catering to the diversifying container specifications will further support the growth of the global pocket containers market in the near future. By the end of 2026, more than US$ 610 million worth of pocket containers are expected to be sold across the globe.
Pocket Containers Made of Polypropylene to Capture Majority of Customer Demands
The report estimates that polypropylene will be sought-after materials in the manufacturing of pocket containers. By the end of 2026, nearly 40% of pocket containers sold in the world will be made of PP materials. Being an inexpensive material, polypropylene will continue to translate high profits for pocket containers manufacturers, and will also generate consistent demand by exhibiting high flexural strength and low frictional co-efficiency.
Pharmaceuticals Industry to Account for More than 65% of Global Pocket Container End-use
In 2018 and beyond, majority of pocket containers will be used to carry medications in the form of pills. Pharmaceuticals industry remains highly lucrative for the sales of pocket containers as pills are being sold along with these containers to capture consumer convenience in terms of storage. New pocket containers being developed are offering properties that can keep the pharmaceutical pills intact from any undue bioactive alterations through intervention of external factors such as moisture and heat. By the end of 2026, pharmaceuticals industry will be the largest end-user of pocket containers, accounting for revenues worth over US$ 415 million.
Demand for Screw Cap Pocket Containers to Dip; Manufacturers to Focus on Producing Pocket Containers with 30-75 ml Capacity
Currently, pocket containers with screw cap closures are showcasing a stellar demand. However, spillage risks will lower their sales in the future. Between 2017 and 2026, the global market value share of screw cap pocket containers will incur a descent of 3% or more. The demand for pocket containers with child resistant closures will gain traction, reflecting a fast value growth at 6.9% CAGR over the forecast period.
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Manufacturers will also focus on extending the production of pocket containers with 30-75 ml capacity. Over the forecast period, more than one-third share of pocket containers produced in the world will offer 30-75 ml capacity for storage. Companies namely, All American Containers, Alpha Packaging Holdings, Amcor Ltd., CKS Packaging, DailyMag Sharp Containers, Gerresheimer, TYH Container Enterprises, USON Plast, and Vidchem pty ltd., which are observed as the key manufacturers of pocket containers in the global market, will also focus on the growing demand for pocket containers with less than 30 ml capacity.
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