From consumer electronics to pharmaceutical products, the trend of miniaturization continues to penetrate the global manufacturing sector. As products used on daily basis become smaller and more compact, the demand for containers to effectively store them in pockets continues to gain traction. Such pocket containers are being greatly valued by customers for providing convenience in storing vital products such as medicinal pills, electronic memory cards and safety pins, among others. Future Market Insights foresees a steady growth in demand for pocket containers. According to the findings of its latest report, the global pocket containers market is pegged to expand at a steady CAGR of 5.6% in terms of value over the period, 2017-2026.
Leading manufacturers of pocket containers are pegged to extend their product lines by introducing pocket containers with high moisture resistance and air-tight storage advantage. By the end of 2026, more than US$ 610 million worth of pocket containers are expected to be sold worldwide.
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During the forecast expansion of the global pocket containers market, companies namely Alpha Packaging Holdings, All American Containers, Amcor Ltd, CKS Packaging, Gerresheimer, TYH Container Enterprises, Vidchem pty ltd, USON Plast, and DailyMag Sharp Containers will instrument the manufacturing of pocket containers at a global scale.
Polypropylene Materials to be Widely Used for Production of Pocket Containers
In 2017, more than US$ 150 million worth of pocket containers sold globally will be made of polypropylene materials. Inexpensiveness of propylene materials, coupled with their high flexural strength, is driving their use in the production of pocket containers. Procurement of polypropylene remains economical in several parts of the world and adapting to innovative container designs and specifications imposes no limitations on the material. On the other hand, pocket containers made of polyethylene terephthalate will witness rapid growth by registering a volume CAGR of 6.8% over the forecast period. High strength to weight ratio of polyethylene terephthalate materials is pegged to drive their use for manufacturing pocket containers.
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Pharmaceutical End-use of Pocket Containers to Translate High Profits for Market Players
It has been estimated that the end-use of pocket containers in storing pills, tablets and other forms of medications will be more profitable than their use as mint dispensers or mini-makeup kits. Pharmaceuticals industry will continue to represent the largest end-user of pocket containers in the near future. Manufacturers are catering to this predominant end-use by offering pocket containers that can keep the pills away from undue bioactive alterations caused from exposure to external elements such as heat or moisture. By 2026-end, pocket containers worth over US$ 415 million are expected to be used in the pharmaceuticals industry.
Screw Cap Closures to Lose their Dominant Stake on Global Market Value; Steady Demand for Pocket Containers with 30-75 ml Capacity
Closures of pocket containers are also a pivotal aspect governing their sales. Screw cap closures have been widely used in manufacturing pocket containers, however, the risks of spillage and accidental leaks have dropped their uptake among consumers. Between 2017 and 2026, the share of screw cap closures on the global pocket container market value is pegged to incur a significant descent of more than 3%. Congruently, child resistant closures will find higher uptake in the future of pocket containers market. Manufacturers are also expected to increase the production of pocket containers with 30-75 ml capacity. This capacity range continues to conveniently provide storage for majority of consumer requirements, which is factoring its growing stake on the global pocket containers market value.
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APEJ to Bring in Largest Chunk of Revenues in Global Pocket Containers Market
Pocket containers are an integral commodity in the global packaging landscape. Majority of packaging companies are based in the Asia-Pacific excluding Japan (APEJ) region for targeting the concentered manufacturing hubs of the world such as China, South Korea and India. By the end of the forecast period, the APEJ pocket containers market is pegged to touch valuation of nearly US$ 175 million. Several companies in the global pocket containers market will be expanding their presence in the APEJ region in the coming years