The Global Bulk Container Packaging Market was valued at USD 3.28 Billion in the year 2022 and is forecast to reach a value of USD 6.63 Billion by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.20% over the forecast period.
Bulk container packing is used as industrial containers for storing and transporting goods that must be handled carefully and maintained vigorously. The market is anticipated to rise due to increased technical improvement and the export of bulk container-packed goods. In addition, the market is expected to rise due to the growing number of applications for bulk container packing. Growing demand from the chemical and food & beverage industries is predicted to be a significant driver of the Bulk Container Packaging Market.
Bulk Container Packaging Market Size, 2022 To 2030 (USD Billion)
The primary factor most likely influencing the total industry growth over the anticipated timeframe is growing flexitank demand in bulk non-hazardous chemical and food component transportation. Over alternatives like drums or barrels, ISO containers, and intermediate bulk containers, Flexitanks provides value-added advantages (IBC). Flexitanks offer benefits such as high capacity ranging from 14,000 to 24,000 liters, quick filling, and fewer workers needed. It also requires minimal loading and installation time.
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Transporting edible and animal oils, glycerine, wine, fruit concentrates, syrups, malts, food additives, paints, and inks is ideal for these tanks. Due to reasons including the expansion of industrial products trade, the Bulk Container Packaging industry has experienced tremendous development. Additionally, simplicity and cost efficiency is projected to drive demand, creating a sizable market potential for the major players in the Bulk Container Packaging industry. As a result, the Bulk Container Packaging industry is expected to rise overall, although this expansion is expected to be constrained by shifting economic patterns.
Additionally, bulk containers are employed to transport and store substantial quantities of liquid substrates, such as solvents and the most potent compounds. On the other hand, high-quality plastic-based bulk containers are beneficial for keeping food and beverages since they guarantee the best possible freshness of consumable goods. Therefore, it is anticipated that the industrial chemicals and food & beverage industries will jointly control a sizable portion of the worldwide market during the projected period.
The Bulk Container Packaging Market is segmented on the basis of Product, Material, End-Use, and Region. Based on the Product segment, the market is sub-segmented as Flexitanks, Bulk containers, and Bulk container Liners. Furthermore, based on the segment Material, the market is sub-categorized as Plastic, Metals, and Other Materials (Wood, Fiber, Paper Board). Finally, based on the End-Users category, the market is sub-categorized further into Industrial Chemicals, Petroleum and Lubricants, Food and Beverages, Paint, Ink & Dyes, Pharmaceuticals, and Other End Uses.
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Based on Product:
On the basis of segment Product, the market is sub-segmented as Flexitanks, Bulk containers, and Bulk container Liners. Due to the efficiency and effectiveness of such tanks, the Flexitanks sub-category had the most significant market share and is anticipated to maintain its dominance over the projection period. Furthermore, the Flexitank growth will be aided over the projected period by using such tanks to transport non-hazardous chemicals, wine, oil, and food-grade liquids.
Based on Material:
On the basis of the segment Material, the market is sub-segmented as Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paint, Ink & Dyes, Pharmaceuticals, and Other Materials. The Food & Beverage industry quickly involved green packaging methods during the forecast period due to global population growth and shifting consumer spending patterns in emerging nations. The rapidly expanding population has dramatically increased the need for low-cost food products, particularly in Asia and the Middle East. The demand for tea, coffee, wine, and beer has been significantly boosted by growing socio-economic circumstances and shifting purchasing habits in emerging nations.
Asia Pacific is projected to Grow at the Highest CAGR During the Forecast Period
Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. According to forecasts, the market in the Asia Pacific would probably experience the quickest growth rate due to the increase in bulk oil and chemical shipments to Europe and North America is to blame for the expansion. The Bulk Container Packaging Market is predicted to increase moderately in Europe. The market in Europe is expected to grow as a result of the increasing wine exports. Due to the rising export of bulk chemical and food items, the Middle East & Africa, and Latin America are predicted to see the highest growth in the Bulk Container Packaging Market. In addition, governments in North America are promoting the use of recycled plastic in producing plastic goods like bottles and containers.
The key players in the Global Bulk Container Packaging Market include- Greif Inc., Berry Global Inc., Sealed Air Corporation, DS Smith PLC, Mondi Group, Bemis Company Inc., International Paper Company, Winpak Ltd, Mauser Group B.V, Hoover Ferguson Group, and others.
Segmentation of the Global Bulk Container Packaging Market:
- Product (Flexi Tanks, Bulk Containers, Bulk Container Liners, Other Products)
- Material (Plastic, Metals, Other Materials (Wood, Fiber, Paper Board))
- End-Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints, Inks & Dyes, Pharmaceutical, Other End Uses)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Greif Inc.
- Berry Global Inc.
- Sealed Air Corporation
- DS Smith PLC
- Mondi Group
- Bemis Company Inc.
- International Paper Company
- Winpak Ltd
- Mauser Group B.V
- Hoover Ferguson Group
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