Fiber Drums market is expected to be worth US$ 1 Bn by the year 2022 | Future Market Insights, Inc.

The market for fibre drums is anticipated to reach US$ 1.6 billion by 2030, growing at a CAGR of 5.5% between 2022 and 2030. From 2022, the market for fibre drums is anticipated to expand by 5.5%. For safe shipping and durability, industries like food and agro-allied, medicines, and chemical demand fibre drums.

People are becoming more environmentally conscious, which is increasing demand for sustainability and lowering the environmental impact of packaging. In the past ten years, consumers' attitudes regarding sustainability have undergone a significant shift, and this trend is likely to continue in the years to come. The increased awareness of the environment has increased demand for eco-friendly packaging options.

Fiber Drums Market Landscape

Grief Inc.,
Sonoco Products Company and Mauser Group N.V.
are the top players operating in the fiber drums market. Furthermore,
C.L Smith Company,
Schutz Container Systems, Inc.,
Orlando Drum & Container Corporation,
Industrial Container Services, Inc.
Patrick J. Kelly Drums, Fibrestar Drums Limited,
Milford Barrel Co Inc. and
Enviro-Pak, Inc.
are prominent players in the fiber drums market. The Tier 3 players hold 4/5th market share in the global fiber drums market. In conclusion, key players contribute almost 1/5th of the global market.

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In tandem with the same sentiment, manufacturers and retailers have begun to experiment with materials and designs for packaging. Players in the retail industry are looking to curb the plastic waste generation by adoption of materials such as metal, glass and fiber which will lead to circular delivery models. Manufacturers have high focus on their approach to address sustainable packaging owing to growing consumer awareness.

Fiber drums are thus being used for storing and transporting a variety of different goods and materials, including powders, soaps, grains, spices, chemicals, fertilizers and metal parts. Fiber drums are made with layers of cardboard or fiberboard which makes them recyclable and a greener alternative compared to plastic drums. The lightweight material of fiber drum is safe, secure and solid which ensures preservation of goods stored in them.

Fiber Drums Demand Analysis (2014 to 2021) Vs Market Outlook (2022 to 2030)

Fiber drums market is projected to reach over US$ 1,568.3 Mn by 2030, with 25-50 gallons of capacity at the forefront. Food & agro allied industry is expected to witness 1.6x growth with increase in transportation of food products, ingredients and flavorings.

Fiber drums market is projected to expand at CAGR of 5.5% during the forecast period (2022-2030). Europe and East Asia together are likely to dominate with a market value share of 50% in the global fiber drums market by 2030. Fiber drums are lightweight making them easier to lift and reduce shipping costs.

Key Takeaways of Fiber Drums Market Study

Food & agro allied industry is estimated to be the key end user industry of fiber drums as it is slated to account for 46% of the market by 2030
25-50 gallons fiber drums to have an incremental opportunity of US$ 273 Mn by 2030 owing to extensive usage in shipping and storing and ease in handling
Metal closure is estimated to account for 69% of the global market by value and reach slightly over US$ 1,084 Mn in 2030
Europe estimated to account for 1/4th market share in the fiber drums market owing to demand for sustainable packaging solutions.
East Asia is estimated to have an incremental opportunity of US$ 171 Mn by 2030 due to the growth of end-use industries in the region
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Intercontinental Trade of Industrial Products to Boost Demand for Fiber Drums
Growth in demand for fiber drums is expected to result from expanding intercontinental trade. This is likely to boost the demand for shipping and packaging industry, consequently raising the uptake of fiber drums as packaging solution.

Vendors in the fiber drums market have consistently worked on improvement in product design and value creation for end user. Since, global trade of industrial products has also increased three fold during the past decade, it necessitated industries such as bio-chemical manufacturers, food grade ingredient manufacturers, pharmaceutical companies etc. to use fiber drums to reduce their carbon footprint.

Key Segments Covered in Fiber Drums Industry Research

Fiber Drums Market by Closure Type

Metal Closure
Plastic Closure
Fiber Closure
Fiber Drums Market by Capacity

Below 25 Gallons
25-50 Gallons
50-75 Gallons
Above 75 Gallons
Fiber Drums Market by End-use

Chemical Industry
Food & Agro-allied Industry
Pharmaceutical Industry
Building & Construction Industry
Others
Fiber Drums Market by Region

North America Fiber Drums Market
Latin America Fiber Drums Market
Europe Fiber Drums Market
East Asia Fiber Drums Market
South Asia Fiber Drums Market
Oceania Fiber Drums Market
Middle East & Africa (MEA) Fiber Drums Market
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients

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