Manufacturers are using Internet of Things and advanced technology such as heat sealing to improve functionalities of rain barrel, thus, creating sales opportunities
DUBAI, UAE / ACCESSWIRE / April 8, 2021 / ESOMAR-certified market research firm Future Market Insights' recent report on the global rain barrels market forecasts the market to reach a valuation of US$ 1.97 Bn through 2021. Rising customer preferences towards the sustainable and lightweight customizable packaging solutions is driving the rain barrels market growth.
Rising demand for access to safe and clean drinking water and more sustainable ways for preserving it has been fuelling the demand for rain barrels. Additionally, technological improvements such as heat sealing and thermoforming intended at improving the functionality of rain barrels, will bode well for the market. Due to the increasing focus on recycling, manufacturers are showing greater inclination towards biodegradable packaging. This is advancing the sales for plastic rain barrels.
"Global warming and changing climatic condition is increasing the need for rain water preservation, which is accelerating the sales of rain barrels," remarks the FMI analyst.
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Key Takeaways
- Food grade rain barrels are expected to witness higher demand in comparison to other segments in the forecast period
- Food & beverage industry is dominating the market with highest share
- U.S. is expected to account for nearly 85% of sales through 2021
- Germany and France to be one of the most lucrative market
- China to emerge as potential market for rain barrels through 2030 followed by Canada
- Plastic segment to exhibit the growth of nearly 5.9% CAGR during the forecast period
- Based on capacity, rain barrels with 75-125 gallons to account for maximum sales in upcoming years
Prominent Drivers
- Increasing demand for open head rain barrels to boost the demand
- Demand for rain water harvesting and rainwater conservation to propel the demand for rain barrels market
Key Restraints
- Smaller size rain barrels to limit the potential rain water collection
- Laborious construction of multiple rain barrels to limit the growth of the market
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Competitive Landscape
Key companies operating in rain barrels market profiled by FMI include ORBIS Corporation, Capi Europe B.V., GRAI GMBH, Koolatron Corporation, ROTO Group UK, WISY AG, The Barrel Makers, Kingfisher Direct Ltd., Etills Limited, Oaklands Group LTD., Good Ideas Inc., Algreen Products Inc., Bosmere Products Ltd., and Emsco Group among others.
In 2021, ORBIS Corporation offered new frame work for inbound food and beverage applications to protect the product during the transportation process by utilizing full pallet loads of beverage products.
Algreen Products Inc. are focusing on developing sustainable and green products such as castilla rain barrel, Athena rain barrel, cascata rain barrels and others at affordable prices to generate the revenue prospects for upcoming years.
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More Insights on FMI's rain barrels Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020-2030. The global rain barrels market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on rain barrels market on basis of capacity (25-75 gallons, 75-125 gallons, 125-175 gallons, and above 175 gallons), material (metal, plastic, wood, and concrete & clay), head type (open head and tight head), across North America, Europe, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights