Participants in the bulk container packaging market are leveraging versatile flexible intermediate bulk container solutions for non-hazardous chemical handling.
DUBAI, UAE / ACCESSWIRE / January 21, 2021 / The bulk container packaging market is expected to display healthy growth of around 7% CAGR for the forecast period between 2020 and 2030. The demand for bulk container packaging has been largely driven by applications in the chemical and food & beverage industries. Efforts towards versatile packaging solutions for transport through road, rail, or sea are gaining ground among manufacturers, even as sustainability in terms of materials remain important to business strategies.
'Globalization of multiple end use sectors has created a favorable environment. Large distances between manufacturing bases and consumption regions are key. Transport costs are important and is a major requirement for innovation and costs of bulk container packaging solutions, that influence developments, on the whole,' says the FMI study.
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Bulk Container Packaging Market - Leading Takeaways
- Food and beverage packaging applications are reflecting close to a third of the overall market share, with substantial impetus from Asia and the Middle East.
- Flexible intermediate bulk containers are highly sought driven by high potential for customization and weight capacities.
- North America is a leading market, driven by large-scale demand in agricultural produce packaging applications here.
Bulk Container Packaging Market - Growth Factors
- Rising levels of food and beverage trade around the global is a key factor driving adoption of bulk packaging solutions.
- The introduction of flexible bulk packaging products, and cost and agile benefits of the format support growth.
Bulk Container Packaging Market - Constraints
- High costs associated with infrastructure and terminal space is a constraining factor hindering applications.
- Complexity of stacking and repositioning operations hinder operations in the bulk container packaging industry.
Expected Impact on Market by Coronavirus Outbreak
The coronavirus pandemic has had a marginally adverse impact on the bulk container packaging market. Lockdown restrictions on logistics, transport, and trade, and the disruptions in raw materials and cash flow have hurt short term demand.
However, packaging applications for essential commodities has generated key opportunities during the crisis period. Moreover, uses in e-commerce shipments will generate opportunities for sales, which will minimize losses, aiding faster recovery in the near future.
Explore data on the bulk container packaging market with 66 figures, 62 tables and the ToC. You will also find market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-4255
Some of the leading manufacturers participating in the bulk container packaging market are Gerif 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 among others.
Leading players in the bulk container packaging market have displayed higher interest in the expansion of product portfolios in addition to strategic collaborations to consolidate their position, especially for emerging markets.
For instance, Elkhart Plastics Inc announced the launch of Tuff Stack Pro, a new intermediate bulk container in November 2020, which includes a heavy-duty all-poly structural frame, for versatility in use. Schütz Packaging Systems, also announced the receipt of certification from the FM Global Group for its Ecobulk SX-D IBC, aimed towards safe transport applications of hazmat products. ACL Airshop announced an agreement with Sonoco ThermoSafe for the handling and repair operations for Sonoco's Pegasus ULD bulk temperature-controlled containers.
More on the Report
FMI's provides in-depth insights on the bulk container packaging market. The market is segmented in terms of product (flexitank, bulk containers, and bulk container liners), material (plastic, metals, and others), and end use (industrial chemicals, petroleum and lubricants, food and beverages, paints, inks, and dyes, pharmaceutical, and others) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa).
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SOURCE: Future Market Insights
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