In 2024, the projected valuation for the bulk container packaging market is estimated to reach US$ 20.2 billion, following an anticipated value of US$ 18.9 billion in 2023. Demonstrating a robust growth trajectory, the market is forecasted to experience a steady evolution with a compound annual growth rate (CAGR) of 6.2% from 2024 to 2034. By the conclusion of the forecast period in 2034, experts predict a significant surge, projecting the market value to soar to US$ 37.2 billion.
The forecast period is anticipated to witness a notable acceleration in market advancement compared to the historical period, as the alleviation of pandemic-related constraints fosters a thriving global trade environment. With a surge in shipment quantities, characterized by both larger sizes and volumes, the demand for bulk container packaging is experiencing a commensurate upswing.
With the Asia Pacific emerging as the swiftest expanding region for the market, India stands out as one of the most promising countries, boasting an estimated invigorating Compound Annual Growth Rate (CAGR) of 7.9% for the period from 2024 to 2034.
India’s packaging industry is experiencing substantial growth, propelled by robust government support. Despite escalating restrictions on plastic usage, the government actively promotes the adoption of recyclable plastics, contributing to a promising and bright outlook for the market in India.
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Key Takeaways:
- The bulk container packaging market is estimated to grow to about 1.6 times its current market value by 2031.
- The bulk container segment is expected to hold over 80% of the value share, with the flextanks segment also gaining traction.
- The demand for plastic bulk containers is increasing due to their easy-to-carry nature.
- The industrial chemicals segment is projected to hold nearly 45% of the value share.
- China is anticipated to emerge as a highly lucrative market, contributing to nearly 30% of the revenue share by the end of 2021
Competitive Landscape:
The bulk container packaging market is fragmented and the Tier 1 players in the market hold 40-45% share in the global 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,
- Braid Logistics (UK) Limited,
- Qingdao LAF Packaging Co. Ltd.,
- My Flexitank Industries Sdn Bhd,
- SIA Flexitanks Limited,
- Environmental Packaging Technologies, Inc.,
- Snyder Industries, Inc,
- Schuetz GmbH & Co. KGaA,
- Büscherhoff Spezialverpackung GmbH & Co. KG,
- Bulk Lift International, Inc,
- Shandong Anthente New Materials Technology Co.,Ltd
are some of the prominent players in the bulk container packaging market.
Recent Developments in the Bulk Container Packaging Market
- In September 2023, market giant Grief Inc. opened a new intermediate bulk container manufacturing facility in Dilovasi, Turkey.
- In May 2023, it was announced that TPL Plastech Limited had expanded into the intermediate bulk container market by opening a manufacturing facility in Dahej, India.
- Also, in May 2023, Mauser Packaging Solutions announced expansions of operations at its plant in Gliwice, Poland. The move is in line with similar expansion strategies employed by the company in Singapore and China.
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Need to Safely Handle Sensitive Liquid Material Increasing Use of Bulk Container Packaging in the Chemical Industry
In 2024, the bulk container packaging market is poised for a substantial impact from the chemical industry, with the industrial chemical end-use segment expected to command a significant 44.9% of the market share. The chemical sector’s reliance on bulk container packaging stems from the necessity to safely transport and store materials, often hazardous or flammable in nature. Recognizing the imperative need for a secure industrial packaging solution, suppliers within the chemical industry turn to bulk container packaging to mitigate the risks of spillage and potential disasters during the transportation of industrial chemicals. This underscores the critical role that robust and reliable bulk container packaging plays in ensuring the safety and integrity of handling and transporting hazardous materials within the chemical industry.
Key Trends Shaping the Market
Sustainability Takes Center Stage
Sustainable packaging solutions have gained significant traction within the Bulk Container Packaging Market. Companies are increasingly adopting eco-friendly materials and designs to reduce their carbon footprint. This move not only aligns with environmental goals but also addresses the growing demand for responsible business practices.
Automation and Digital Integration
The integration of automation and digital technologies is revolutionizing the packaging industry. Smart containers equipped with sensors and tracking devices offer real-time visibility into cargo conditions, minimizing risks and ensuring compliance with regulations. These innovations enhance supply chain transparency and contribute to smoother operations.
Customization for Diverse Cargo
Modern bulk container packaging is far from one-size-fits-all. Manufacturers now offer customization options tailored to the specific needs of different goods. From temperature-controlled containers for perishable items to anti-static solutions for sensitive electronics, the market caters to a wide range of cargo requirements.
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Key Segments
Product
- Flexitanks
- Bulk Containers
- Flexible Bulk Containers
- Rigid Bulk Containers
- Bulk Container Liners
Material
- Plastic
- HDPE
- LDPE
- LLDPE
- PP
- PVC
- Others
- Metals
- Others (Wood, Fiber, Paper Board)
End Use
- Industrial Chemicals
- Petroleum and Lubricants
- Food and Beverages
- Paints, Inks and Dyes
- Pharmaceutical
- Others
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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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