- The food and beverage industry, as well as the pharmaceutical industry, have proven to be significant for the bulk container packaging market. The global market is expected to grow due to a surge in startup and business activities in the food industry
- The shipment of dry and free-flowing chemicals or commodities is likely to drive the global bulk container packaging market
ALBANY, NY, June 20, 2022 /PRNewswire/ — The value of the global bulk container packaging market was clocked at more than $4.2 Bn in 2021. The market is anticipated to rise at a CAGR of 9.7% during the forecast period, from 2022 to 2031. The bulk container packaging market size is estimated to surpass valuation of US$11.6 Bn by 2031. Due to the increasing demand for flexitank in transferring food ingredients and non-hazardous chemicals in bulk quantity, bulk containers are increasing in popularity in the chemical and food & beverage sectors. It is estimated to be one of the most important types of packaging in logistics in the years to come.
Flexitank gives a value-added benefit over traditional bulk containers. In addition to that, the installation and loading process of these tanks requires much less effort. Furthermore, owing to its excellent properties such as low payloads, lightweight, and low risk of contamination, flexitanks are gaining traction in the transportation industry. This factor is likely to drive revenue opportunities for the bulk container packaging manufacturers
Large amounts of liquid substrates, including solvents and some of the harshest compounds, are stored and transported in bulk containers. On the other hand, bulk containers made of high-quality plastic materials are ideal for storing food and beverages, ensuring that they remain as fresh as possible. The food & beverage and industrial chemicals businesses are expected to constitute the majority of the global market share in the forthcoming years.
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Key Findings of Market Report
- The chemical sector makes substantial use of bulk container packing, which is one of the popular types of packaging containers in recent times. Shale gas is abundant in the United States, and it is utilized as a feedstock for the manufacture of other chemicals. Many investors are drawn to the chemicals business because of the abundance of low-cost feedstock available across the world. This is expected to result in certain transportation and packaging requirements for which this kind of container packaging is likely to be suitable. This factor is likely to trigger the market’s development prospects in the coming years.
- In terms of product type, the flexible intermediate bulk containers (FIBC) category led the global bulk container packaging market in 2020.
- the Europe bulk container packaging market is expected to grow at a moderate pace. The increasing volume of wine exports is expected to strengthen the market in Europe. Given the rising export of food products and bulk chemicals, the Middle East and Africaas well as Latin Americaare expected to be one of the fastest developing regions for bulk container packaging market.
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Global Bulk Container Packaging Market: Growth Drivers
- Based on application, the food and beverage category is expected to acquire a bulk container packaging market share in the forthcoming years. The need for bulk container packaging in the food and beverage industry is likely to be driven by the requirement to avoid food contamination and maintain sanitary criteria.
- It is expected that the Asian-Pacific market is likely to expand at a rapid pace. Exports of bulk petroleum and chemical products to North America and Europe have risen, which is likely to contribute toward market expansion. Growth of the market is being fueled by an increase in vegetable oil exports from Southeast Asia.
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Global Bulk Container Packaging Market: Key Players
Some of the key market players are
- Environmental Packaging Technologies Inc.
- Shanghai Yunjet Plastic Packaging Co. Ltd.
- Büscherhoff Spezialverpackung GmbH & Co. KG
- Shandong Anthente New Materials Technology Co., Ltd.
- Trans Ocean Bulk Logistics Ltd
- BLT Flexitank Industrial Co. Ltd.
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Global Bulk Container Packaging Market: Segmentation
- Flexible Intermediate Bulk Containers (FIBC)
- Bulk Container Liners
- Food & Beverages
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