ID: MRFR/Pharma/0275-HCR | 115 Pages | Author: Kinjoll Dey | May 2023
The Canisters Market is expected to reach USD 5757.93 Million by 2030 at 9.10% CAGR during the forecast period 2022-2030. Canisters are rigid cylinder-shaped containers that are used for the packaging purpose. These cylinders are filled with substances such as activated carbon, silica gel, and clay. These substances act as dehydrating agents for controlling odor and moisture. Moreover, several types of packaging materials are used in the pharmaceuticals industry which include vials, unit pak, canisters, and pillow pak. However, canisters are more in demand owing to their rigid structure and ease of maintenance, thus suitable for household sectors. The use of desiccant canisters is on the rise as they are non-toxic. Furthermore, these canisters are FDA approved with Code of Federal Regulations Title 21 (CFR 21) as they are considered to be safe for packaging pharmaceutical drugs and food.
Usually, these containers are made up of plastic as it is a preferred packaging material available with a variety of grades. Plastic also has significant properties such as it is chemically inert in nature, aesthetic appeal, and customized thickness which assist in marketing and promotional activities. Polyolefin, PET, PE, PP, and Polyvinyl Chloride (PVC) are some of the grades of plastic used for packaging.
Numerous production facilities use canisters of different configuration. For instance, canisters with a configuration of 0.5-1 gm are used by pharmaceutical industries. Whereas, for storing chemicals, canisters with a configuration between 1–2gm are mostly used. Additional packaging types include vials and syringes that are used for diagnostic purposes.
Owing to the rigid design of desiccant canisters, they are an ideal fit for high-speed insertion and automatic packaging in nutraceutical and pharmaceutical bottles. For instance, the novel Oxy-Guard bottles launched by the Clariant Healthcare in October 2017 have the ability to extend the shelf life of probiotics.
The increasing awareness about the advantages of canisters amongst consumers worldwide, increase in contract manufacturing, and the booming pharmaceutical industry are some of the major growth factors of the global canisters market. Furthermore, the introduction of nano-enabled packaging and enhanced barrier properties of the canisters against mechanical forces, lights, and moisture are expected to benefit the pharmaceutical packaging market. Although, changing health regulations along with price volatility and availability of raw materials are the major constraints hampering the growth of this market.
Global canisters market is expected to grow at a CAGR of approximately 7% during the forecast period, 2017–2023.
Sources: Annual reports, Press release, White paper, and Company presentation
Canisters Market Segmentation
The global canisters market is segmented on the basis of configuration, application, and end-user.
On the basis of configuration, the global canisters market is segmented into 0.5–1 gm, 1–2 gm, 2–3 gm, 3 gm and above, and others.
On the basis of application, the global canisters market is classified into packaging, storage, and others. The packaging segment is divided into pharmaceuticals packaging, nutraceuticals packaging, diagnostic packaging, and others.
On the basis of end-user, the global canisters market is classified into, pharmaceutical, automotive, healthcare, chemical, domestic, retail industries, and others.
Canisters Market Regional Analysis
The global canisters market consists of four regions, namely, America, Europe, Asia Pacific, and the Middle East and Africa.
Americas dominated the global canisters market owing to the technological innovation, advancement in manufacturing processes, growing demand for blister packaging and drug delivery devices, and contribution of nanotechnology to the pharmaceutical packaging market. The US is the largest market among other countries such as Mexico, Canada, and others. The European canisters market is the second largest market followed by the Asia Pacific region.
Asia Pacific is the emerging market in the global canisters market. The rising awareness among consumers due to growing government initiatives and increasing minor and major pharmaceutical packaging industries owing to campaigns such as “Make-In-India” by the Indian government are major drivers responsible for the growth of the canisters market in India.
China and Australia are also expected to exhibit good opportunities during the forecast period. For Instance, in November 2017 Clariant Healthcare announced the establishment of a new healthcare packaging manufacturing plant in Cuddalore in Tamil Nadu. This manufacturing plant makes Clariant a major player in the growth of the pharmaceutical packaging market in India. This production unit is likely to improve the customer base in Asia Pacific and gain the canisters market prominence in this region.
Canisters Market Key Players
Some major players in the global canisters market include Zibo Uni-Shine Industry Co., Ltd., Swastika international co, Electrolux Group, Stanley Black & Decker, Dyson Ltd., Oreck Corporation, TTI Floor Care, Miele, Eureka Forbes Ltd, and Haier Group, Clariant, Sanner GmbH, Ashirwad chemicals, and others.
|Market Size||USD 5757.93 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||Configuration, application, and end-user|
|Geographies Covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Vendors||Zibo Uni-Shine Industry Co., Ltd., Swastika international co, Electrolux Group, Stanley Black & Decker, Dyson Ltd., Oreck Corporation, TTI Floor Care, Miele, Eureka Forbes Ltd, and Haier Group, Clariant, Sanner GmbH, Ashirwad chemicals|
|Key Market Opportunities||FDA approval|
|Key Market Drivers||
Global canisters market is expected to grow at a CAGR of 9.10% by 2030.
The major key players of the Canisters Market are the Zibo Uni-Shine Industry Co., Ltd., Swastika international co, Electrolux Group, Stanley Black & Decker, Dyson Ltd., Oreck Corporation, TTI Floor Care, Miele, Eureka Forbes Ltd, and Haier Group, Clariant, Sanner GmbH, Ashirwad chemicals, and others
The end users involved in the Canisters Market are pharmaceutical, automotive, healthcare, chemical, domestic, retail industries, and others.
The major drivers of Canisters Market is Increasing awareness about the advantages of canisters amongst consumers worldwide,
Key Questions Answered
Why Choose Market Research Future?