The rise in the consumer inclination towards lightweight, convenient product packaging has compelled the packaging industry. Heavy duty totes finds major application in logistics industry for transportation of equipment from one end point to another end point. With the increase in adoption of industrial packaging solutions among the industrial users have resulted with the increase in demand of heavy duty totes. With the increase in the performance of the manufacturing sector and industrial output has created the opportunity to drive the growth of the global heavy duty totes market. The heavy duty totes are produced with various capacities ranging from 5 gallon – 23 gallon. Due to eco-friendly, cost-effective, reusable are the feature of heavy duty totes market that is anticipated to grow in terms of value and volume throughout the forecast period. Since there is high correlation between industrial output and demand for industrial packaging with manufacturing sector output has enhanced the demand of the global heavy duty totes market. Growth in demand in various end use industries is expected to ensure positive growth outlook for the global heavy duty totes market.
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Heavy Duty Totes Market: Dynamics
The global packaging industry has undergone significant transformation over the past few years, leading to increase in demand of the safe packaging solutions. The global heavy duty totes market is expected to driven by the increase in demand for safe packaging solutions to ensure that the good reach the destinations without damage. Furthermore heavy duty totes reduces cost and is 100 % recyclable, making it an ideal choice for logistics operation. Heavy duty totes finds application in several industry verticals including food & beverage, pharmaceutical industry, chemical industry and automotive industry. Consumers require reliable packaging solution which ensures product safety and are economically feasible. This can be easily achieved with the help of heavy duty totes which ensures product safety and cost-effective packaging solutions. The end user as well as industrial features is expected to drive the global heavy duty totes market. Despite the positive factors there are certain factors which hinder the growth of the global heavy duty totes market. Availability of alternative packaging solutions such as IBC, drums & barrels is anticipated to act as restraint of the global heavy duty totes market.
Heavy Duty Totes Market: Segmentation
The global heavy duty totes market has been segmented as follows –
On the basis of capacity, the global heavy duty totes market has been segmented as:
- 5 gallon – 10 gallon
- 10 gallon – 15 gallon
- 15 gallon – 23 gallon
- Above 23 gallon
On the basis of end use industry, the global heavy duty totes market has been segmented as:
- Food & Beverage
- Agricultural
- Pharmaceuticals
- Chemical
- Others
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The North America heavy duty totes is expected to be highly attractive in terms of market share of heavy duty totes market during the forecast period. The countries in North America such as U.S. and Canada are considered as the top heavy duty totes consumer countries. The Western Europe region is expected to retain its second position in the global heavy duty totes market, during the forecast period. The Asia Pacific excluding Japan (APEJ) region is a significant shareholder of the global heavy duty totes market. Middle East & Africa (MEA) is expected to register a sluggish growth of the global heavy duty totes market. However increase in industrial application is one of the key factor driving the growth of the global heavy duty totes market.
Heavy Duty Totes Market: Key Players
Few of the leading players operating in the global heavy duty totes market are –
- The Cary Company
- Sterillite Corporation
- Versatote
- Edge Manufacturing.
Key Industry Development
- In July, 2015 the company acquired 50% of stake in Time Technoplast in the IBC & heavy duty totes business of Fanshun Packaging Group, a drum manufacturer in South China.
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