The bulk liquid transport packaging market is forecast to experience a growth of 3.5% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 1,388.35 million in 2023.
The bulk liquid transport packaging market is poised for substantial growth in the coming decade. This market is driven by the increasing demand for efficient and safe transportation solutions for bulk liquids, such as chemicals, food and beverages, and pharmaceuticals. The rise in international trade and the expansion of the global supply chain are significant factors contributing to this growth.
Additionally, advancements in packaging technologies, such as the development of more durable and sustainable materials, are enhancing the efficiency and reliability of bulk liquid transport packaging. The growing emphasis on reducing environmental impact is also driving innovation in recyclable and reusable packaging solutions.
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Many investors are attracted to the chemicals industry due to the availability of low-cost feedstock worldwide. This is also expected to generate demand for certain packaging and transportation requirements for which bulk liquid transport packaging is expected to be ideal.
Plastic-based bulk liquid transport packaging helps producers offer a wide spectrum of color choices, thus attracting more customers. However, manufacturing businesses are shifting their attention to biodegradable materials to lower their carbon footprint.
Top Highlights from the FMI’s Analysis of the Bulk Liquid Transport Packaging Market:
- North America holds a sizeable market share in the global market. The regional market is also expected to maintain its streak in the upcoming years. The robust growth of the beverages, chemicals, and dairy industry presents significant opportunities for bulk liquid transport packaging vendors.
- Within Europe, Germany and Italy are the prominent consumers of bulk containers. The surging export of alcoholic beverages is expected to fuel the sales of bulk liquid transport packaging.
- The Asia Pacific region is anticipated to flourish robustly over the upcoming years.
- Plastic packaging dominates bulk liquid transport packaging due to its user-friendly design.
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Key Recent Innovations in the Market
- In May 2023, Tosca initiated the use of reusable and foldable containers by introducing a new Life Cycle Analysis (LCA) tool. This device helps lower the greenhouse gas emissions, water usage, and fossil fuel.
- In July 2023, Mondi stated that it is collaborating with Aromsa, a flavor company, to substitute its stainless-steel containers with paper-based ones. The paper-based alternative, TankerBox, facilitates less container maintenance, streamlines transportation, and boosts shipping capacity. The industrial applications of TankerBox include paint, chemistry, oil, pharmaceuticals, alcoholic drinks, concentrated beverages, industrial liquid foods, milk, and dairy products.
Key Segments
By Material Type:
- Corrugated Cardboard
- Plastics
- Metal
- Others
By End Use:
- Chemical
- Dairy
- Beverages
- Other Industrial Goods
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- The Middle East and Africa
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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