The market is expected to generate an incremental $ opportunity of US$ 12.0 Bn between 2022 and 2030; with rising number of resources and products shipment around the world
Category: Packaging Published Date : ID: CVC-00146-PKG Format: PDF Pages: 298
Bulk Container Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Bulk Container Packaging Market was worth US$ 18.2 Bn and is expected to grow at a CAGR of 6.5% over the forecast period. The market is expected to hit US$ 30.1 Bn by 2030 end.
Bulk containers generally store and transport huge quantities of liquid substrates such as solvents and the harshest chemicals. High-quality plastic material-based bulk containers are particularly useful for food and beverage storage, ensuring the maximum freshness of consumable products.
The industrial chemicals and food and beverage industries are expected to hold most of the global market share during the projected period.
What are the causes driving the rise in demand for Bulk Container Packaging?
The expansion of the industry of shipping industrial chemicals in bulk amounts has resulted in innovation in the construction of various bulk containers. The drive for improved, non-contaminated food and beverage distribution allow for more use of bulk containers. The increasing use of bulk containers in industrial sectors is projected to continue as a profitable industry worldwide.
The food, beverage, and pharmaceutical industries have remained critical to the bulk container packaging market. It is expected that the expanding company and startups in the food industry will support the bulk container packaging market.
The increased demand for bulk container packing has come from the necessity for adaptable and spill-proof transportation containers. Even during tumultuous trips, such containers keep the stored contents safe.
What are the opportunities in the Bulk Container Packaging Market?
Flexible and collapsible bulk containers are becoming increasingly popular. It has the added benefit of lowering shipping costs during the return voyage and ensuring the quality of the stored product. These properties will open up ample opportunities for the market
Exploring new export markets will generate numerous opportunities for the bulk container packaging business to flourish.
Expanding research and development operations in the packaging sector creates an attractive potential for market participants from 2022 to 2030. Furthermore, innovation in producing various bulk containers will contribute to the bulk container packaging market’s future growth.
What are the major challenges confronting the Bulk Container Packaging Market?
The diverse environmental conditions across the region and the compatibility of packaging in such a region pose a challenge to the bulk container packaging market. In addition, limited awareness in underdeveloped areas and increasing rivalry would act as growth limitations for the industry.
With the emergence of Covid-19, the worldwide bulk container packaging market’s gains shrank dramatically. Compared to 2019, the year-on-year growth rate in 2020 was reduced by about 5%.
Restriction on dine-in restaurants and a halt in online food and beverage ordering activities have harmed the food and beverage industry’s growth and disrupted the supply chain process. As a result, there is a substantial influence on the demand for bulk container packaging among food and beverage end-users.
Why is it predicted that Flexible Bulk Container Packaging would expand at the fastest CAGR?
Flexible bulk container packaging is predicted to account for more than one-fifth of the worldwide market’s value and is expected to grow over the forecast period. This increase is expected due to cost savings on returnable transportation and space savings. FIBCs are adaptable and improve handling and transportation. As a result, they improve the material handling system and supply chain.
Why is the Industrial Chemicals category expected to expand fast over the forecast period?
The industrial chemicals segment will likely maintain its market leadership while experiencing moderate growth during the projection period.
Bulk container packing is widely used in the chemical sector. Shale gas is abundant in the United States and is utilized as a feedstock for manufacturing other chemicals. The abundance of low-cost feedstock available worldwide is attracting numerous investors to the chemicals business. It is expected to result in special packaging and transportation requirements for which bulk container packaging would be perfect, increasing the market’s growth prospects over the next several years.
Why is North America consolidating its global leadership in the Bulk Container Packaging Market?
North America dominates the bulk container packaging market in terms of market share and revenue, which is expected to continue throughout the forecast period of 2022-2030. This region’s market growth is linked to increased demand for grain, oilseeds, corn, and other commodities and rising exports of alcoholic beverages.
Why is the United States such a large market for Bulk Container Packaging?
The United States market is expected to surpass the other countries during the projected period. By 2030, this market will generate almost US$ 4.7 billion in incremental revenue.
Increased industrial production is expected to support increased demand for bulk container packing. End-users preference for large-sized foldable bulk containers has increased in the last year.
Which Asia-Pacific region has promising opportunities in the Bulk Container Packaging market?
Asia-Pacific is expected to show profitable growth over the projection period of 2022-2030, owing to favorable government policies, expanding population, and changing consumer lifestyles within the region.
To compete in the target market, manufacturers are increasing the production of flexible and foldable bulk containers, gradually replacing bulk containers in various end-use sectors. To ensure sustainability, certain players are working on producing recyclable items.
Some of the key developments that have taken place in the Bulk Container Packaging Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Bulk Container Packaging Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, End-User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|