NEWARK, Del, March 29, 2024 (GLOBE NEWSWIRE) -- The bucket market foresees its current market valuation at US$ 1.9 billion in 2024 and is predominantly considered to surge at a valuation of US$ 2.7 billion by 2034, projected at a CAGR of 2%. The bucket industry includes various factors that help it surge majorly. Buckets are essential in construction tasks like clearing garbage, mixing concrete, and excavating.
Moving materials like concrete, sand, and gravel are indispensable tools for building projects. Bucket demand is strong as the construction industry continues to escalate due to an upsurge in population, infrastructure development, and urbanization.
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Another important industry accelerating the bucket market is agriculture. Buckets are frequently used in farming operations for watering, harvesting, and feeding livestock. The dominance of buckets act as useful instruments for transporting harvested crops, water, feed, and seeds. The necessity for effective material handling solutions and the growth in the usage of robotic agricultural operations are raising up demand for buckets in the agriculture industry.
The design and production of buckets are driven by innovation and technical developments, propelling market expansion. Manufacturers aim to create buckets with better features, including ergonomic handles, spill-proof lids, and increased durability. Environmental and sustainability concerns push market trends and create recyclable and eco-friendly bucket solutions.
Key Takeaways from the Market Study
- Under product type, the open top/head is accounted to hold a market share of 62.6% in 2024.
- Spain is estimated to register at a CAGR of 2.1% by 2034.
- France experiences significant growth, projected at a CAGR of 1.3% by 2034.
- Based on material, the plastic segment is accounted to hold a market share of 72.1% in 2024.
“The continuous worldwide infrastructure building projects are one important factor that encompasses initiatives pertaining to building, transit, and urban development, is considered one significant driver for the bucket market,” comments Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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Competitive Landscape
The bucket market is highly competitive, with local and global firms fighting for market share. Competitors compete based on innovation, pricing, distribution networks, and product quality.
Change in customer needs and business realities, choose frequent ways to strengthen market presence, including partnerships, acquisitions, and product diversification. Some of the key developments are:
- In 2024, BWAY Corporation concentrated on expanding its product line and market penetration through partnerships or smart acquisitions. Adapting to changing consumer demands and market trends may entail expanding into new geographic areas or diversifying its product offering.
- In 2024, M&M Industries explored significant advancements to strengthen its position as a leader in the bucket industry. The market has required making research and development investments to raise the caliber, robustness, and sustainability of the product.
Key Companies Profiled:
- RPC Group
- Mauser Packaging Solutions
- Industrial Container Services
- C.L. Smith
- Affordable Buckets
- Encore Plastics Corporation
- FDL Packaging Group
More Valuable Insights Available
Future Market Insights offers an unbiased global bucket market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the bucket market is segmented based on Material (Plastic, Metal), Product Type (Open Top/Head, Close Top/Head), End Use (Paints & Coatings, Inks, Dyes & Pigments, Petroleum & Lubricants, Agrochemicals & Fertilizers, Food & Beverages, Other Industrial), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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Key Segments
By Material:
- Plastic
- Metal
By Product Type:
- Open Top/Head
- Close Top/Head
By End Use:
- Paints & Coatings
- Inks, Dyes & Pigments
- Petroleum & Lubricants
- Agrochemicals & Fertilizers
- Food & Beverages
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Packaging Division at Future Market Insights.
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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- The packaging analysts at Future Market Insights opine that the reusable box market will be worth US$ 16.8 billion by 2023. Sustainability and eco-consciousness consumer concerns to propel reusable box emerging trends in this ecosystem point to a US$ 30.8 billion valuation by 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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