The bulk container packaging market is expected to grow at a CAGR of 5.02% from US$3.826 billion in 2021 to US$5.392 billion in 2028.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PARDESH, INDIA, November 16, 2023 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the bulk container packaging market is projected to grow at a CAGR of 5.02% between 2021 and 2028 to reach US$5.392 billion by 2028.
The key driving force behind the rapid growth of the bulk containers packaging market is the increasing global trade, growth of e-commerce, and rapid industrialization. For instance, according to the World Trade Organization (WTO) global trade outlook and statistics report, the value of world merchandise trade rose 12% to US$ 25.3 trillion in 2022, underscoring the growing trade worldwide highlighting the need for efficient and reliable bulk containers packaging solutions to facilitate the smooth and secure movement of goods across international borders.
Bulk container packaging refers to the use of large, sturdy containers designed to transport and store substantial quantities of goods or products. These containers are commonly used in various industries such as food and beverage, chemicals, pharmaceuticals, and agriculture for the efficient handling and shipment of bulk quantities of materials. Bulk container packaging, including durable metal packaging for heavy-duty applications, and specialized chemical packaging, serves as a fundamental component in the safe and efficient transportation of various bulk commodities.
The market is observing numerous product launches and advancements. For instance, in October 2023, Berry launched recycled content large containers, enhancing their well-received Optimum range. These sustainable containers aim to assist businesses in achieving their environmental objectives while responding to the growing consumer preference for eco-friendly packaging options. Also, In July 2022, Monoflo launched new 48 x 40-inch collapsible bulk containers. The new 48″ x 40″ bulk container is perfectly suited for food processing and general distribution uses, featuring a high-pressure injection molded pallet crafted from a unique material blend designed for enhanced strength and smooth surface durability.
Access sample report or view details: https://www.knowledge-sourcing.com/report/bulk-container-packaging-market
The bulk containers packaging market, based on product, is segmented into three main categories namely flexitants, bulk containers, and bulk containers liners. Bulk container liners are large, flexible, and impermeable bags designed to fit inside bulk containers for the secure transportation and storage of various dry and flowable goods.
The bulk containers packaging market, based on its material, is divided into three segments, which include plastic, metal, and others. Plastic and metal bulk container packaging are widely used for the transportation and storage of various goods and materials in industries such as chemicals, food and beverage, agriculture, and manufacturing.
The bulk containers packaging market, based on its end user, is segmented into three main categories namely industrial chemicals, petroleum and lubricants, and food and beverages. Bulk container packaging for the chemical industry serves as a critical solution for the safe and efficient transportation of various chemical products, including hazardous and non-hazardous materials.
Asia-Pacific is poised to experience substantial growth owing to the region’s rapid industrialization, flourishing trade activities, and a large consumer base, especially in countries like India and China. For instance, according to the Economic Survey 2021-2022, Industrial Production (IIP) grew at 17.4 percent during April-November 2021 as compared to (-)15.3 percent in April-November 2020 in India. Also, according to PIB industrial sector Gross Value Added (GVA) rose by 3.7 percent in the first half of the financial year 2023.
The research includes coverage of Greif Inc., SIA Flexitanks Ltd., Trans Ocean Bulk Logistics Ltd., SCHÜTZ GmbH & Co. KGaA, Braid Logistics, National Bulk Equipment, Inc., Signode Industrial Group, Meyer Industries Limited, Mondi Group, Berry Global Inc as the significant market players in the bulk containers packaging market.
The market analytics report segments the bulk containers packaging market using the following criteria:
• By Product
o Bulk Containers
o Bulk Containers Liners
• By Material
• By End Users
o Industrial Chemicals
o Petroleum and Lubricants
o Food and Beverages
• By Geography
o North America
• United States
o South America
• United Kingdom
o Middle East and Africa (MEA)
• Saudi Arabia
o Asia Pacific
• South Korea
• Greif Inc.
• SIA Flexitanks Ltd.
• Trans Ocean Bulk Logistics Ltd.
• SCHÜTZ GmbH & Co. KGaA
• Braid Logistics
• National Bulk Equipment, Inc.
• Signode Industrial Group
• Meyer Industries Limited
• Mondi Group
• Berry Global Inc.
Explore More Reports:
• Global Food Container Market: https://www.knowledge-sourcing.com/report/global-food-container-market
• Single Serve Coffee Container Market: https://www.knowledge-sourcing.com/report/single-serve-coffee-container-market
• Pharmaceutical Container Market: https://www.knowledge-sourcing.com/report/pharmaceutical-container-market
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