The global sales of security bottles are estimated to be worth USD 2.0 billion in 2021 and are anticipated to reach a value of USD 3.9 billion by 2031. Sales are projected to rise at a CAGR of 6.9% over the forecast period between 2021 and 2031. The revenue generated by security bottles in 2020 was USD 1.8 billion.
Stringent environmental and safety legislations pertaining to the containment of hazardous spills, especially from the chemical, pharmaceutical, and oil and gas industries, are driving the market for security bottles. Growing importance for workplace safety and prevention of pollution raise demands for these trays that can prevent the leaks and spills from reaching the environment.
The introduction of new types of trays, including corrosion-resistant and durable ones, makes them more effective and increases their durability. The increase in industrial activities and industrial chemical handling processes contributes to the growth of the market. Additionally, environmental sustainability awareness is promoting the adoption of greener and reusable containment solutions. Manufacturing and industrial growth further sustains the demand for security bottles.
Global Security Bottles Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.8 billion |
| Estimated Size, 2021 | USD 2.0 billion |
| Projected Size, 2031 | USD 3.9 billion |
| Value-based CAGR (2021 to 2031) | 6.9% |
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A variety of industrial & commercial liquid products need safe containers due to numerous reasons such as the liquid being hazardous, expensive, evaporative, etc. Demand for security bottles has been increasing due to its critical function of providing protection and storage to such liquids. These bottles are easy to handle as compared to large containers, often portable and come in many shapes and sizes depending on the end use application.
The bottles find immense utilization in personal care & cosmetics sector. From expensive cosmetics to perfumes that evaporate when in contact with air, these bottles find widespread application in this domain. Also, security bottles are widely used for alcohol storage.
These bottles come with different securing facilities such as caps, locks, stoppers, tags, and more. Hence, the customer gets a range of security options to choose from according to the liquid product and the amount of safety required.
New developments are being made in the market of this commodity. For example, bottles with built in electronic article surveillance tags to help reduce product theft from manufacturer factories and retail stores are being produced.
Such bottles have a tag, placed in a pocket that is formed in the outside wall of the bottle and is hidden by applied label. Because the tag is outside the bottle, there is no possibility of product contamination. Such new product developments are projected to further boost the market of security bottles.
Chemicals must be handled with care and cannot be stored in generic bottles. Security bottles accommodate toxic and hazardous chemicals. Bottles for chemicals are specially manufactured and are chemically resistant. They have low expansion; possess mechanical strength and are resistant to thermal shock, hence making them perfect containers for chemicals.
Furthermore, these bottle can be used to store medicines, nutritional supplements and other pharmaceuticals as well, providing wide scope for growth of security bottles industry in these end use sectors.
Principal Consultant
The Asia-Pacific region is anticipated to have the largest global market share for this product. This region is developing and industrializing. The chemical as well as pharmaceutical sector of many countries in this region including India and China is expanding at a rapid rate. Rise in the quantity of chemicals, medicines, other pharmaceuticals produced will in turn urge the requirement of security bottles to hold them.
The market in the North American region is expected to grow at a steady pace, driven by the chemical, pharmaceutical and personal care sector. This shall be owing to the presence of many top key players from these target end use industries that procure security bottles for their products. Companies are innovating and creating additions to security bottle features, which will lead to robust growth in the demand for this product in the forecast period.
Demand in the European region would be driven by the personal care sector to a great extent. The research & development centres of key manufacturers based in the region require such bottles for safekeeping their experimental liquids. Hence, the sales for these bottles in this region will be immense and the market will grow at steady rate.
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Some of the key players operating in the global security bottle market are
Companies like The Leghorn Group are manufacturing and providing bottle products with numerous features like narrow openings, square bottom bottles, and more. These innovations are contributing to the robust growth in security bottle demands.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Security Bottles Market
