Fiber Drums Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2030

Future Market Insights in a detailed market study published this month on fiber drums Market forecast the global market to surpass US$ 1.6 Bn mark by 2030. The need for change in packaging solutions is shifting focus on uptake of sustainable materials. As this trend gains momentum it is expected to fuel the growth of the global fiber drums market.

Fiber Drums Market is expected to reach US$ 1 Bn in 2022, likely to surge at a vigorous 5.5% CAGR during the assessment period.

Fiber drums are a near-perfect alternative to using plastic and other non-recyclable materials for production of rigid containers. Future Market Insights predicts that the demand for these drums will soar at a recognizable pace as the world inches closer to making environment-friendly choices.

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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.

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

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