Global Bulk Container Packaging Market - 2021-2028
Bulk Container Packaging Market Overview
The global bulk container packaging market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).
Bulk packaging makes it possible to produce all of the items we enjoy as customers safely and effectively. It is large-scale packaging that is used in the manufacturing process to store or transport raw materials or finished items. The bulk container can carry anything from five gallons to 1000 liters of material. An intermediate bulk container is frequently used in bulk packaging (IBC).
Bulk packaging is used in the manufacturing of a variety of products. Bulk product production, transportation, storage, and end product processing are the four main uses of bulk packaging in manufacturing. Many product manufacturers produce bulk items at their factories, which are then transferred to a downstream producer.
Bulk packaging enables these businesses to safely package their bulk products, convey the product to their consumers cost-effectively, and store the bulk goods.
Bulk Container Packaging Market Dynamics
In the forecast period of 2021-2028, rising preferences for superior flexitanks due to their advanced characteristics compared to other counterparts, rising number of edible oil exports, and rising adoption of flexitanks for shipping food ingredients and non-hazardous chemicals are expected to boost the growth of the bulk container packaging market.
The market is expected to grow due to a growth in pharmaceutical and chemical commerce.
Because of the expanding pharmaceutical products and chemicals commerce among various countries, the market for bulk container packaging is likely to develop in the next years. In the post-pandemic environment, this is likely to boost expansion possibilities. The focus on sterile packaging will only grow, presenting huge prospects for innovation and R&D for important manufacturers.
Plastic-based packaging adoption is increasing, which is driving up demand.
Despite growing worries about plastic waste disposal, plastic-based packaging is predicted to remain the most popular among all materials. Plastics aid in obtaining economies of scale in production because of their durability, lightweight, and lower overhead costs. There are numerous opportunities in the recycled plastics market.
Furthermore, the use of plastic containers to transport hazardous commodities such as radioactive material, flammables, explosives, and chemical products has increased. As a result, industrial applications are assisting in the growth of the drum market. Manufacturing firms are expected to shift their focus to biodegradable materials (plastics) to develop bulk containers for maintaining sustainability.
The market's growth is projected to be hampered by price volatility in oil and feedstock.
During the forecast period, rising environmental concerns and volatility in oil and feedstock costs are likely to hinder the growth of the bulk container packaging market. The global intermediate bulk container packaging industry is being hampered by a lack of consumer knowledge, competition from flexible intermediate bulk containers, which are significantly less expensive than rigid intermediate bulk containers, and higher startup expenses.
COVID-19 Impact Analysis
The global epidemic of COVID 19 has disrupted people's everyday lives in the worst way possible. Everyone now has to deal with both financial and health-related difficulties. Most production units were shut down due to the lockdown and post-lockdown crisis, pushing the economy into a forced recession.
Bulk Container Packaging Market Segment Analysis
By Product, the bulk container packaging market is classified into flexitanks, bulk containers, and bulk containers liners.
The bulk containers are expected to dominate the global bulk container packaging market.
The bulk container sector continues to be the most popular. The need for drums, pails, and other rigid containers and containers with bulk containers is increasing. The major goal of bulk containers is to keep the product's integrity while reducing the danger of damage during transport. The technology has a number of advantages.
Radioactive, flammable, explosive, corrosive, oxidizing, asphyxiating, biohazardous, poisonous, pathogenic, or allergic compounds, such as ammonia, hydrogen, etc., are examples of dangerous commodities. As a result, an increase in the exports and trading of these hazardous items could lead to the use of bulk containers.
Bulk Container Packaging Geographical Analysis
North America holds the largest market share global Bulk Container Packaging Market.
The United States is one of the world's most important markets for bulk containers. Because of the newfound shale resources, the chemical industry is likely to expand, increasing demand for bulk containers in the region. Furthermore, the country's massive chemical and pharmaceutical exports ensure a steady demand for rigid bulk containers like drums and pails.
The country also has a well-established reconditioning infrastructure, which helps to boost pooling networks. Furthermore, governments in North America are pushing the use of recycled plastic to produce plastic products such as containers and bottles.
Bulk Container Packaging Competitive Landscape
The worldwide bulk container packaging market is competitive. Key players operating in the global market for Bulk Container Packaging include Grief Inc., Berry Global Inc., Sealed Air Corporation, DS Smith Plc, Mondi Group, Bemis Company, Inc., International Paper Company, Winpak Ltd, Mauser Group B.V., and Hoover Ferguson Group.
Overview: Greif is a global leader in industrial packaging goods and services, intending to be the world's best customer service company in the industry. The company manufactures intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated and coated recycled paperboard, tubes and cores, as well as a variety of specialty goods.
Greif also has wood properties in the Southeast that he manages. To serve both global and regional consumers, the organization maintains key sites in over 40 countries.
Product Portfolio: It manufactures packaging intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated and coated recycled paperboard, tubes and cores, as well as a variety of specialty goods and other services for a wide range of industries.
Key Developments: Greif, Inc. finalized its previously announced transfer of the Consumer Packaging Group to Graphic Packaging Holding Company for $85 million in cash in 2020. The transaction enabled them to de-lever their bank sheet, optimize their capital allocation strategies, and refocus their operations on their core industrial franchise and strategic growth targets in intermediate bulk container manufacture, reconditioning, and containerboard integration.
The global bulk container packaging report would provide access to an approx. 60 market data table, 55 figures and 180 pages.
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