Bulk Container Packaging Market to Reach USD 11.6 Billion by 2031, Growing at a Remarkable 9.7% CAGR
Bulk containers are gaining traction in chemical and food & beverages industries, owing to the growing demand for flexitank for transporting non-hazardous chemicals and food ingredients in bulk amounts.
Wilmington, Delaware, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc.- The global bulk container packaging market stood at US$ 4.5 billion in 2022 and is projected to reach US$ 11.6 billion in 2031. The global bulk container packaging market is anticipated to expand at a CAGR of 9.7% between 2022 and 2031.
Bulk container packaging includes products used for bulk or high-volume packaging. These are transported in containers via road, sea, or railways. This report studies the bulk container packaging market for flexitanks, flexible intermediate bulk containers (FIBC), and bulk container liners. The report has not considered other bulk container packaging products available in the market, such as drums, barrels, and boxes.
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Flexitanks are flexible bladders or containers manufactured using polyethylene and polypropylene to transport non-hazardous liquids in a standard 20ft container. FIBCs are also termed big bags or jumbo bags. These are made of woven fabric for storing and transporting dry and free-flowing products. These bags are available in significant variations in the market with different product types that suit various materials to be transported. They are most widely used in sizes of 1 ton or 2 tons. Higher operational and cost efficiency of flexitanks is one of the major factors driving the global bulk container packaging market. A rise in exports of vegetable oil from Southeast Asia coupled with an increase in the bulk wine trade is anticipated to boost the market.
Bulk container liners are made of woven polyethylene or polypropylene and are available in different sizes depending on customer requirements. However, 20ft and 40ft containers globally are the most widely used liners.
Moreover, bulk containers are used to store and transport large volumes of liquid substrates such as solvents and most aggressive chemicals. On the other hand, high-quality plastic material-based bulk containers are handy for food and beverage storage, ensuring optimum consumable products’ freshness. Industrial chemicals and food & beverage industries are estimated to hold the significant pie in the global market during the forecast period.
Food & beverages and pharmaceutical industries have remained critical to the market for bulk container packaging. The rise in business and startups in the food industry is estimated to boost the bulk container packaging market.
Companies Profiled in the Market:
- Shandong Anthente New Materials Technology Co., Ltd.
- BLT Flexitank Industrial Co. Ltd.
- Braid Logistics
- Büscherhoff Spezialverpackung GmbH & Co. KG
- Environmental Packaging Technologies Inc.
- K Tank Supply Limited
- Qingdao LAF Packaging Co. LTD.
- MY FlexiTank
- SIA Flexitanks Ltd.
- Bulk Liquid Solutions Pvt. Ltd.
- Shanghai Yunjet Plastic Packaging Co. Ltd.
- Trust Flexitanks
- Trans Ocean Bulk Logistics Ltd.
Key Takeaways of Market Report
- Global bulk container packaging market to generate absolute dollar opportunity worth US$ 11.6 billion until 2031.
- Global bulk container packaging market from 2023 to 2031 is 9.7%
- The global bulk container packaging market is valued at US$ 4.5 billion in 2023.
- The global bulk container packaging market stood at US$ 4.2 billion in 2021.
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Bulk Container Packaging Market: Growth Drivers
- Bulk container packaging finds extensive application in the chemical industry. Shale gas is produced in high quantities in the U.S. and used as a feedstock for other chemicals. The abundance of low-cost feedstock across the globe is attracting many investors to the chemicals industry.
- This is anticipated to create specific packaging and transportation requirements for which bulk container packaging will suit ideally, driving the growth prospects of this market over the next few years.
- The flexible intermediate bulk containers (FIBC) segment dominated the global packaging market 2020. Volatile feedstock prices pose a challenge to the growth of this market. The development of the commodity trade in BRIC countries will be favorable for the bulk container packaging market over the next few years.
- The report segments the bulk container packaging market into flexitanks, bulk container liners, and flexible intermediate bulk containers (FIBC). Flexible intermediate bulk containers (FIBC) were the most extensive product segment of the market in 2020.
Bulk Container Packaging Market: Regional Landscape
- The growth can be attributed to the escalating exports of bulk chemicals and oils to Europe and North America. Europe is estimated to experience moderate growth in the bulk container packaging market. The high export of wines is projected to boost the market in Europe.
- Middle East & Africa, and Latin America are anticipated to emerge as the fastest-growing markets for bulk container packaging due to the increasing export of bulk chemicals and food products.
- The rise in the export of vegetable oil from Southeast Asia is driving the growth of this market. Similarly, the increase in the export of wine from Europe will fuel the demand for bulk container packaging. Low cost and high operational efficiency are critical factors behind bulk container packaging, such as tank containers, barrels, and drums.
- Using flexitanks lowers the cost of glass and bottling; hence, it is used for exporting wine. It also reduces the cost of import duties and the overall transportation cost of wine.
Bulk Container Packaging Market: Key Developments
- CDF has collaborated with West Rock Company to redesign the shape, functional features, and benefits of recyclable IBC packaging solutions made from the recyclable component HDPE to work with more efficiency and maintain sustainability in the industry.
Bulk Container Packaging Market: Segmentation
- Flexible Intermediate Bulk Containers (FIBC)
- Bulk Container Liners
- Food & Beverages
- Others (including pharmaceuticals)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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