Transparency Market Research delivers key insights for the cubitainers market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of revenue, the global cubitainers market is projected to expand about 1.7x its current market value by the end of 2028, owing to the ever-increasing demand from the food & beverages industry, which is likely to emerge as one of the largest users of cubitainers. The food & beverages industry is expected to create an incremental opportunity of more than US$ 32 Mn between 2020 and 2028. Cubitainers are highly demanded by alcoholic drink and energy drink producers.
Cubitainers are used primarily in end-use industries, including food & beverages, pharmaceuticals, chemicals, and other industrial goods. Cubitainers are largely used for food and beverages, industrial applications that include large-scale preference for group 2 and group 3 base oils handling and packaging.
TMR segmented the analysis of cubitainers market based on various factors such as capacity, material, and end users across five regions. As per the TMR analysis, Low Density Polyethylene (LDPE) material for cubitainers is expected to hold the largest market share during the forecast period, owing to benefits such as low cost, impact resistance, chemical and moisture resistance. Wide applicability and availability of LDPE makes it a preferable option for large scale manufacturing of cubitainers.
Sake Brewery Industry to Boost Demand for Cubitainers
The rising demand for cubitainers from the sake brewery industry is one of the prominent growth drivers for the market. Brewery producers are inclined toward use of cubitainers for shochu packaging, as they offer various advantages over glass bottles, are easy to pack and distribute, and are cost-efficient. Increasing consumer awareness about ‘carbon footprint’ is in turn boosting preference for environment-friendly products. Various industries, including the beverage industry, in line with this changing consumer sentiment are introducing green products in the market. Players in the brewery industry are exploring packaging options for convenient handling and storage, which is anticipated to fuel the demand for cubitainers in the years to come.
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Food & Beverage Industry to Remain Prime End User of Cubitainers
Cubitainers are gaining traction among the food & beverage product manufacturers, as they are moisture resistant, and do not react with the food or beverages, which maintains the quality of the packaged product. Inert FDA-compliant material tolerates a wide variety of product properties, which makes it a safe option for packaging of food products such as shakes, oils, wine, rice wine, vinegar, soy sauces, and other types of condiment sauces.
Furthermore, customization available with product configuration options for different sizes of packages and requirements is anticipated to augment the growth of containers market. Easy to fill and pour features, handles, and caps enhance the convenience and handling of packages. The growing demand for packaged food & beverages, which extend the shelf life of products are in high demand due to changing consumer habits. This is anticipated to have a positive impact on the demand for cubitainers in the upcoming years.
Stringent Environment Regulations over Use of Plastics Might Restraint Cubitainers Market
Governments across the globe are imposing stringent rules and regulations on use of plastic that impact adversely on the environment. Cubitainers are majorly made using Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), and High Density Polyethylene (HDPE).
Plastics are produced from natural gas, chemicals, and petroleum products, which are all non-renewable resources and further processed using energy techniques that ultimately harm the ecosystem.
Producers of plastics often dump toxic waste into the air, land, and water. This is further being consumed by marine and terrestrial animals, impacting their lifespan, and in some cases, causing entire species to go extinct. Moreover, rising demand for synthetic plastic is harmful for the environment, as it is non-biodegradable, which is a matter of concern for local and international governments. This is likely to restrain the market growth of cubitainers market.
Cubitainers Market: Competition Landscape
The global cubitainers market is fairly consolidated in nature into which, larger portion of market share holds by well-established market players. Some of the key players operating in the global cubitainers market are Fujimori KOGYO CO., LTD., RPC Promens and SEKISUI SEIKEI CO., LTD, Koizumi Jute Mills Ltd., Changzhou Sanjie Plastic Products Co., Ltd., and ChangZhou HengQi Plastics Co., Ltd.
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The tier structure is formulated on the basis of segmental revenue and market share of the company. As per the tier structure, Fujimori KOGYO CO., LTD., RPC Promens, and SEKISUI SEIKEI CO., LTD are the Tier 1 players in the cubitainers market. These players are focusing on expansion of their production capacity and enhancing their product quality to increase its footprint across the globe. Tier 2 players include Silgan Koizumi Jute Mills Ltd., Changzhou Sanjie Plastic Products Co., Ltd. and ChangZhou HengQi Plastics Co., Ltd., and other market players.