30-Sep-2022 | Facts and Factors
According to Facts and Factors, the global nestable drum market size was worth around USD 11.9 billion in 2021 and is predicted to grow to around USD 23 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7.1% between 2022 and 2028.
Nestable drums are conical-shaped objects used for packaging and transportation of other products. They exhibit a tapered shape resulting in less space requirement which directly affects the cost of transportation, as more products can be transported at the same cost. The process of curating a perfect nestable drum is a tedious task since multiple factors have to be taken into consideration since the object can be used to be transported via airways, waterways, or roadways, and nestable drums have to be safe to be used in any of these forms of transportation. Owing to the conical shape of the drums and seal-proof packaging, they are high in demand across industries that deal with continuous transportation of products. Some of the benefits associated with nestable drums include low-moisture transfer, easily closable lid, stacking convenience, tamper-proof, and reusability. In the current world, where companies are looking for options that are more environment-friendly and sustainable ways of development, nestle drums have become a preferred choice amongst business leaders.
Browse the full “Nestable Drum Market Size, Share, Growth Analysis Report By End-User (Chemicals, Pharmaceuticals, Petroleum, Food & Beverages, and Others), By Capacity (Above 40 Gallons, 19-40 Gallons, 13-19 Gallons, and 19-7 Gallons), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/nestable-drum-market
During the pandemic, the global market witnessed a surge in demand for the products which was majorly driven due to the increased transportation of vaccines and other healthcare-related products. Like every other industry, there were initial restrictions and concerns that the manufacturers had to face mostly about the availability of raw materials and transportation of the final goods, but the global market did not exhibit heavy losses during 2020.
The global nestable drum market is projected to grow owing to the constant product innovation approach adopted by market players. Since the main selling point of these drums is the overall reduction in the final cost of logistics as well as less space required for storage, the manufacturers have now started focusing on upgrading other technical points, for instance, better safety of the stored product by eliminating any risk of damage. Since the product can be used across industries, producers pay the most attention to designing more effective products by using different types of raw materials allowing the drum to exhibit different properties like high-temperature tolerance, and rigidity to name a few. For instance, Muller Plastics, a Switzerland-based producer of high-quality molded parts and plastic canisters manufactures nestable drums with wide necks and lids made of high-density polyethylene, and lid gasket made from ethylene propylene diene monomer. The drums rolled out from the company are approved by the United Nations and are certified safe for packaging food products.
The low-quality drums may act as a major retraining factor while growing economies are expected to provide expansion opportunities. The political turmoil is expected to pose a major challenge to global market growth.
The global nestable drum market is segmented based on capacity, end-user, and region.
Based on capacity, the global market divisions are above 40 gallons, 19-40 gallons, 13-19 gallons, and 19-7 gallons. Nestable drums above 40 gallons lead with the highest global market share since they have wide applications in international and domestic transportation. Although drums with other capacities are also in high demand, the highest revenue generators are drums that can optimize transportation costs. For example, the average cost of transporting oil via pipeline can cost up to USD 2 to USD 4 per barrel, however, it is entirely dependent on the crude oil grade along with other factors.
Based on end-user, the global market segments are chemicals, pharmaceuticals, petroleum, food & beverages, and others. The global market cap benefits the most from the food & beverages sector which is one of the fastest growing industries with an exceptionally high CAGR. The demand for the product is driven by the increasing population and product innovation in the food sector catering to all consumer segments. For instance, the global food sector in the US was valued at USD 997 billion in 2020, while it may grow by a CAGR of 4.12% in the coming 5 years.
North America is projected to witness the highest CAGR in the global nestable drum market driven by the presence of multiple players in the regional market of the US followed by high demand for cost-effective transportation solutions. The growing logistics sector of the country may also aid the generation of more revenue. As per official records, the country’s logistics segment ranges from USD 7.5 trillion to USD 12.2 trillion with a contribution of more than 10% to the country’s gross domestic product (GDP). Europe is projected to benefit from strategic approaches undertaken by players in Germany, and Switzerland, however, the regional market may witness some setbacks due to the energy crisis witnessed across European nations. Asia-Pacific is projected to grow driven by the increasing requirement for the product to cater to the rising logistics and transport sector.
Market Size in 2021
USD 11.9 Billion
Projected Market Size in 2028
USD 23 Billion
CAGR Growth Rate
Key Market Players
Greystone Logistics, CurTec, Time Technoplast Ltd, Drums Food International Pvt Ltd, Drum Workshop Inc., and others.
By End-User, Capacity, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global nestable drum market is dominated by players including Greystone Logistics, CurTec, Time Technoplast Ltd, Drums Food International Pvt Ltd, and Drum Workshop Inc.
- In September 2021, Drums Food International, an Indian consumer goods company, announced the company’s expansion plans while targeting more than 70 cities by the end of March 2022.
- In September 2022, Drum Workshop Inc. announced that Roland Corporation will be acquiring all of the company’s outstanding shares.
The global nestable drum market is segmented as follows:
- Food & Beverages
- Above 40 Gallons
- 19-40 Gallons
- 13-19 Gallons
- 19-7 Gallons
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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