Rising Demand for Portion Packaging Boosts the Adoption of Plastic Funnels Market, Projected to Reach at a USD 190 Million by 2034 | Future Market Insights Inc.

The demand for plastic funnels in Spain is anticipated to develop a CAGR of 3.9% through 2034. Such unexpected demand, driven by educational needs, could offer stability to the funnel industry in Spain, despite consumer preferences shifting towards sustainable alternatives.

/EIN News/ -- NEWARK, Del, July 30, 2024 (GLOBE NEWSWIRE) -- The plastic funnel market value is expected to rise from USD 142 million in 2024 to USD 190 million by 2034. The market is analysed to surge ahead at a CAGR of 2.9% over the next decade.

The plastic funnel market is experiencing a surge due to increased online sales and innovations. Consumers are seeking convenient, water-resistant, and moisture-resistant options, leading to a surge in demand for plastic funnels. The research sector is enhancing the portion packaging process for vaccines, medications, and chemical products, with the adoption of portion strainers promising future growth. The food and beverage sector is also increasingly using plastic funnels for packaging beverages and liquid supplies due to their adaptability, chemical resistance, and cost-effectiveness.

The industrial plastic funnel market is expanding due to the increasing demand for customized solutions. Manufacturers are offering customizable solutions to meet end-users specific needs, enhancing operational efficiency and market expansion. The miniaturization trend is driving demand for compact, lightweight malleable funnels that can be easily installed and transported. This trend is particularly strong across sectors requiring efficient, space-saving solutions.

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Manufacturers are developing versatile, durable products to cater to various industry needs, enhancing operational convenience and broadening the consumer base. Plastic funnels are crucial as laboratory safety tools for collecting hazardous liquid waste. They are among the best control devices for stopping burnt gases from escaping and leaks from exposed chemical waste tanks. Inflexible plastic funnels meet safety requirements and standards, reducing environmental pollution.  

“As industries prioritize safety and environmental protection, the demand for these efficient and compliant tools continues to rise, underscoring their importance in maintaining operational safety and regulatory compliance,” Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Key Takeaways from the Plastic Funnel Market Report:

• Throughout history, the plastic funnel industry grew at a CAGR of 2%. From USD 129 million in 2019 to USD 138 million in 2023, the market value increased affectedly.
• According to the type of funnel, the 6 ml to 10 ml capacity funnels are anticipated to take the lead over the projected period. In 2024, the category is predicted to reach a share of 38%.
• In 2024, laboratory applications are expected to command a dominant 45% of the market.
• The plastic funnel industry in Spain is anticipated to see a CAGR of 3.9% from 2024 to 2034.
• The plastic funnel sector in China is projected to showcase a CAGR of 5% through 2034.
• The demand for plastic funnels in India is anticipated to display a CAGR of 6.8% by 2034.

Competitive Landscape:

The packaging industry's worries about sustainability cast doubt on the future of the plastic funnel sector. Nonetheless, well-known global firms are seeing the trend toward more environmentally friendly options. They are making research and development investments to provide eco-friendly funnels in order to preserve their market prominence.

Such type of tactical adjustment seeks to meet the need for long-term fixes while maintaining their applicability in an evolving environment. These businesses hope to take the lead in the developing plastic funnel market and maintain their leadership positions by providing environmentally friendly alternatives to conventional funnels.

Hopkins Manufacturing was acquired by First Brands Group LLC in December 2023. Hopkins Manufacturing was a top producer of vehicle cleaning supplies, snow and ice equipment, towing electrical devices, and fluid management products in North America. Uncertainty surrounds the purchase terms, and First Brand declined to comment. This action comes after Hopkins purchased Hayes Towing Electronics in October 2023.

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Key Players of the Plastic Funnel Industry:

• Funnel King
• LSS
• Hopkins Manufacturing Corporation
• Plews & Edelmann
• WirthCo Engineering, Inc.
• Custom-Pak
• Miller Manufacturing Company
• Wavian USA
• Maxcraft
• Performance Tool

Key Segments of the Plastic Funnel Industry:

By Material:

Based on the material, the industry is divided into, Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), and other plastics.

By Funnel Type:

In terms of funnel type, the industry is categorized by capacity, up to 2 ml, 3 ml to 5 ml, 6 ml to 10 ml, as well as above 10 ml.

By Applications:

Based on the application of the sector, the demand is categorized into, laboratories, schools, research institutes, and others.

By Region:

As per region, the industry is divided into, North America, Latin America, Europe, Asia-Pacific (including Japan), Middle East, and Africa.

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 demand for an eco funnel is significant since it is a critical laboratory safety tool for collecting hazardous liquid waste. The Eco Funnel is one of the most effective control devices for preventing burned gasses and leaks from open chemical waste tanks.

The global market recorded remarkable historical growth, with a valuation of US$ 5.6 billion in 2022. The increasing demand for storage of goods, liquids, and powders is raising the adoption of plastic rigid IBC. These IBCs are reducing the high cost of transportation. Plastic rigid IBCs are reusable containers that enhance the safety of goods. These are available in different shapes and sizes as per consumers' desire.

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Supply chain optimization became a top priority for businesses during this period. Returnable plastic crates, with their durability, reusability, and ease of handling, offered a solution for streamlining logistics and reducing costs throughout the supply chain.

The global pharmaceutical plastic bottle industry is nearing a valuation of USD 30 billion in 2024 and is forecast to reach a value of USD 49 billion by 2034. Sales are projected to rise at a CAGR of 5% through 2034. The revenue generated by pharmaceutical plastic bottles in 2023 was USD 28.8 billion. The industry is anticipated to exhibit a Y-o-Y growth of 4.1% in 2024.

The flexible plastic packaging market size is projected to be valued at US$ 108.3 billion in 2023 and is expected to rise to US$ 171.6 billion by 2033. The sales of flexible plastic packaging are expected to grow at a significant CAGR of 4.7% during the forecast period.

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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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