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Global Bulk Containers Packaging Market is estimated to get as big as US$ 37.2 Billion by 2034 to be 7.9% CAGR

Global Bulk Containers Packaging Market is estimated to get as big as US$ 37.2 Billion by 2034 to be 7.9% CAGR

The Demand to Maintain the Freshness of Consumable Goods and Safe Transportation of Liquid Substrate Spur the Bulk Containers Packaging Market Growth

NEWARK, Del, Dec. 21, 2023 (GLOBE NEWSWIRE) — The bulk container packaging market is slated to have a valuation of US$ 20.2 billion in 2024. The progress of the market is anticipated to record a significant growth of 6.2% from 2024 to 2034. By 2034, the valuation of the bulk container packaging industry is forecast to be US$ 37.2 billion.

The reinvigoration of the chemical, pharmaceutical, and other industries post-pandemic has given a new wind to the bulk container packaging market. Increasing industrial usage of bulk container packaging due to the safety and comfort associated with the packaging solution is seeing the market reach new heights. As trade in the industries increases worldwide, the market is in for rapid growth.

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Rigid intermediate bulk containers (RIBCs) remain as popular as ever. However, in conjunction with flexible intermediate bulk containers (FIBCs), they are also seeing increasing adaptation. The increasing twin demand for RIBCs and FIBCs is conducive to the growth of the bulk container packaging market.

Bulk container packaging overwhelmingly uses plastic as a material. With growing concerns about the impact of plastic use on the environment, plastic use is coming under stringent rules from regulatory bodies, which has the potential to affect the market negatively. However, plastic use is preferred by market players due to its cost-effectiveness.

Key Takeaways from the Bulk Container Packaging Market:

  • The bulk container packaging market is expected to reach US$ 20.2 billion in 2024.
  • Plastic is commonly used in bulk container packaging. For 2024, plastic is expected to contribute to 95.1% of the market share by material.
  • Handling of industrial chemicals is where bulk container packaging finds significant use. For 2024, industrial chemicals are anticipated to account for 44.9% of the market share by the end-use segment.
  • India is expected to be one of the leading countries in terms of progress in the market. The country is forecasted to have a CAGR of 7.9% from 2024 to 2034.
  • Other Asian countries with promise for the market include China and Thailand. The market is expected to register a CAGR of 6.8% and 6.6% in China and Thailand, respectively.
  • The market is expected to progress at a CAGR of 5.6% in Canada.

“Bulk container packaging’s capabilities are increasing. The development of new polymers is affording even more security to industrialists. The development of better tracking technology is also keeping the market up-to-date. Thus, there is scope for innovation in regards to material and technology in the market,” opines Ismail Sutaria, Principal Consultant at Future Market Insights

Bulk Container Packaging Market Overview:

Attributes Details
Bulk Container Packaging Market Value for 2024 US$ 20.2 billion
Projected Market Value for 2034 US$ 37.2 billion
Value-based CAGR of Market for 2024 to 2034 6.2%  

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Competition Analysis of the Bulk Container Packaging Market:

Leading market players are looking to gain an even greater foothold in the market. Geographical expansion and acquisitions are some common strategies among higher-end players. However, small-scale players are equipping joint ventures and diversification, providing competition to multinational giants on a local level.

Recent Developments in the Bulk Container Packaging Market:

  • In September 2023, a new manufacturing facility for intermediate bulk containers was opened in Dilovasi, Turkey by Grief Inc.
  • In May 2023, Mauser Packaging Solutions raised the production capabilities of its plant in Gliwice, Poland.
  • In December 2022, the merger of giants Bulk Lift International LLC and Bagwell Supply Ltd. was announced.

Key Companies in the Bulk Container Packaging Market:

  • 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

Key Segments:

By Product:

  • Flexitanks
  • Bulk Containers
    • Flexible Bulk Containers
    • Rigid Bulk Containers
  • Bulk Container Liners

By Material:

  • Plastic
    • HDPE
    • LDPE
    • LLDPE
    • PP
    • PVC
    • Others
  • Metals
  • Others (Wood, Fiber, Paper Board)

By End Use:

  • Industrial Chemicals
  • Petroleum and Lubricants
  • Food and Beverages
  • Paints, Inks, and Dyes
  • Pharmaceutical
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa (MEA)

Author

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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Rigid Packaging Containers Market Size: During the projected period, the global rigid packaging containers market is set to enjoy a market valuation of US$ 208.6 Billion in 2022, and register a CAGR of 4.0% to reach US$ 308.7 Billion by 2032. 

Intermediate Bulk Container Market Share: The global intermediate bulk container (IBC) market is forecast to gain a valuation of US$ 23.8 billion in 2023. Overall intermediate bulk container sales are projected to exhibit a CAGR of 6.9% between 2023 and 2033, surpassing US$ 46.2 billion by 2033.

Glass Container Market Demand: The glass container market is predicted to capture a valuation of US$ 61.5 billion in 2023 and is estimated to rise to US$ 102.5 billion by 2033. The market is anticipated at a CAGR of 5.2% during the forecast period.

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Cupcake Container Market Overview: According to estimates, the cupcake container market share to be worth close to US$ 1.6 Billion in 2022 and US$ 2.6 Billion by the end of the projected period in 2032. Over this anticipated time, a 5% increase in sales of cupcake containers is predicted to occur globally.

About Future Market Insights (FMI)

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/676583743/global-bulk-containers-packaging-market-is-estimated-to-get-as-big-as-us-37-2-billion-by-2034-to-be-7-9-cagr-future-market-insights

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