In terms of revenue, the Global Bulk Container Packaging Market is expected to reach USD 6.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.20% from 2022 to 2028.
The rise in demand for plastic-based packaging solutions due to the sudden growth in different industries will propel the growth of the Bulk Container Packaging Market in the coming years.
Key Highlights from Report:
- The bulk container sector is still in-demand in the purview of several factors like the rise in the demand for plastic-based packaging solutions. The need for drums, pails, and other rigid containers and bulk containers is increasing. The primary objective of bulk containers is to preserve product integrity while reducing the risk of damage during transit. Radioactive, flammable, explosive, corrosive, oxidizing, asphyxiating, biohazardous, toxic, pathogenic, or allergic compounds such as ammonia, and hydrogen, to name a few, are examples of dangerous goods. As a result, an increase in exports and trade in these dangerous goods could lead to the use of bulk containers.
- Volatile commodity prices pose a challenge to the growth of the Bulk Container Packaging Market. The growth of commodity trade in the BRICS countries (Brazil, Russia, India, China, and South Africa) will be favorable for the Bulk Container Packaging Market in the coming years.
- Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. The growth is accounted owing to the increasing exports of bulk chemicals and oils. With emerging economies like India and their venture into exports in different countries, this region is most likely to increase the demand for bulk containers market.
Bulk field packaging guarantees clean maneuverability and transportability of massive volumes of the product. It is made from identical dimensions to shipment pallets, which leads to clean maneuvering of the field and the usage of forklifts. Flexi tanks and bendy bulk packing containers are the suitable packaging answers for Returnable Transport Packaging (RTP) as they require less area and reduce shipping costs. Better profitability margin is predicted with multiple uses of massive-sized, reusable bulk packing containers which can be used over small packing containers having shorter lifespans.
North America held the largest shares in 2021. The regional growth is primarily driven by an increase in corn, oilseeds, grains akin to soybean, and feeds demand from the U.S. In addition, one-third of the entire agricultural land in the U.S accounts significantly for exports which are expected to bolster the growth of the Bulk Container Packaging Market in this region. The region is engaged in commercialism and export of alcoholic & wine beverages in massive volume which also augment the growth of the Bulk Container Packaging Market in this region.