SELBYVILLE, Del., July 22, 2019 (Newswire.com) - The bulk container packaging market demand to rise from USD 3.4 billion in 2018 to around USD 6.9 billion by 2025, according to a 2019 Global Market Insights Inc. report. Strengthened by a flourishing food & beverage industry worldwide, the bulk container packaging market size is anticipated to attain a high growth rate in the projected time frame. The reason behind growing product demand in the food industry is attributed to unique benefits offered by bulk containers such as durability, reusability, fully recyclable, eliminates use of fiber and wood, lightweight, unaffected by moisture and many others. Growing trade in the food industry caused by globalization is one of the major factors likely to influence the overall market size by 2025.
Recent developments in the bulk container packaging market such as introducing the use of bioplastics can uplift product demand in this era of sustainability. Furthermore, it has facilitated product transportation in the shipping industry without generating higher cost to shippers. Earlier, a minimum of 100 crew members was required in shipping operations, however, with the introduction of bulk packaging containers, a maximum of 21 people is needed which has resulted in reducing the overall shipping cost.
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Bulk containers are generally manufactured by using petrochemicals such as polypropylene (PP) and polyethylene (PE). As the materials are extracted from crude, huge price fluctuation exists in the market, which may hinder the market growth in the coming years. Also, political and market uncertainty may have a negative influence on market growth. For instance, Britain’s exit from the European Union has resulted in a significant drop of imports and exports, which hampered the bulk container packaging market demand in recent years.
On the basis of product, the bulk container packaging market share is segmented into flexitanks, FIBC (Flexible Intermediate Bulk Containers) and bulk container liners. FIBC recorded the largest demand and generated revenue over USD 1.8 billion in 2018. This category of products is made from a woven fabric of polypropylene. They are designed to store and transport any kind of dry and flowable products. Moreover, bulk container liners also possess a significant share in the industry. These are more economical and are considered an efficient method of transporting product from one country to another. The product eliminates the need for packaging machinery, manpower required to move the product in warehouses, etc. It also reduces packaging waste, which is unavoidable in most of the packaging methods.
Browse key industry insights spread across 94 pages with 107 market data tables and 21 figures and charts from the report, “Bulk Container Packaging Market Size By Product (Flexitanks, Flexible Intermediate Bulk Container [FIBC], Bulk Container Liners), By Application (Food & Beverage, Chemicals) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, The Netherlands, Belgium, Ireland, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Thailand, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025,” in detail along with the table of contents:
Bulk packaging containers are used across various industries, however, it is dominated by the food industry, followed by the chemical industry. These are used for storing and transporting dry as well as liquid food products. They serve as an ideal replacement for corrugated boxes and plastic containers. Owing to promising product use in the food industry, the overall bulk container packaging market is hugely influenced by growth in this sector. Growing industrialization in the emerging economies has led to changes in living standards which has triggered demand for packaged food in recent years to have healthy, safe and non-contaminated food. Shifting consumer preference is the major driver for the growing food and packaging industry, which will make a notable impact on the overall industry size by 2025.
Asia Pacific and North America captured the largest bulk container packaging market share in 2018. In Asia Pacific, there is tremendous growth in the food industry due to the rapidly growing population which has been complementing industry growth. Furthermore, the import and export of food products across the state and international border have also driven the food industry, which is anticipated to boost bulk container packaging demand in the forecast timeframe.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider offering syndicated and custom research reports, along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Source: Global Market Insights Inc.