Bulk Container Packaging Sales to Grow at 3.1% in 2021, up from a Modest 1.8% in 2020: Study
Global bulk container packaging sales are set to grow at 3.1% in 2021, up from a modest 1.8% growth witnessed in 2020, according to latest insights presented by Future Market Insights (FMI). Bulk container packaging demand remained lackluster in 2020, mimicking the broader sluggishness in global economy. However, as revival commences, bulk container packaging manufacturers can expect sales to grow, albeit reaching pre-COVID levels will take some time.
Key Takeaways Bulk container packaging market is estimated to expand ~1.6 times of current market value through 2031 Bulk container segment is expected to hold more than 4/5th value share; flextanks segment catching up Increasing preference for easy to carry containers bolstering demand for plastic bulk containers Industrial chemicals segment to hold nearly 45% value share China to emerge as a highly lucrative market, contributing nearly 30% of the revenue share by 2021-end
“Bulk containers are gaining traction day by day in chemical and food & beverage and owing to the increasing demand for flexitanks for transporting non-hazardous chemicals and food ingredients, also penetrating transportation process.” says an FMI analyst.
Safety Concerns in Chemical Industry Amplifying Demand for RIBC (Rigid Intermediate Bulk Containers)
Rigid IBC (RIBC) is made of a plastic bottle, a metal cage, and a spout for easy emptying process of materials, which is mainly used during transportation. The well-built plastic liner inside the container helps in keeping the respective products safe while transporting and the metal cage makes the container sturdy enough to be stacked. The rigid IBC mainly carries liquids and is optimized to prevent the respective product from spilling at the time of transport.
RIBC manufacturers are adopting business strategies for the development of innovative products to boost the growth of the RIBC in the market. Many players have invested in producing technically advanced containers for the sake of products safety. Companies have produced tracking-enabling system-equipped bulk containers to allow customers to know the status of their respective products directly. Some key players involved in R&D activity of RFID enabled IBCs are CHEP (U.S.A.) Inc, Metano IBC Services, Inc, Hoyer Group etc.
Bulk Container Packaging Market Landscape
The bulk container packaging market is fragmented and the Tier 1 players in the market hold 40-45% share in the global bulk container packaging market.
Greif, Inc., Berry Global, Inc., Sealed Air Corporation, DS Smith Plc, Mondi Group, Bemis Company, Inc., International Paper Company, Winpak Ltd, Mauser Group B.V, Hoover Ferguson Group, Braid Logistics (UK) Limited, Qingdao LAF Packaging Co. Ltd., My Flexitank Industries Sdn Bhd, SIA Flexitanks Limited, Environmental Packaging Technologies, Inc., Snyder Industries, Inc, Schuetz GmbH & Co. KGaA, Büscherhoff Spezialverpackung GmbH & Co. KG, Bulk Lift International, Inc, Shandong Anthente New Materials Technology Co.,Ltd are some of the prominent players in the bulk container packaging market.
Bulk Container Packaging Market Report
Bulk containers are primarily designed for store and transportation purpose of liquid and granulated substances such as food ingredients, chemicals, pharmaceuticals products etc. in bulk quantities. Bulk containers are shipped in a wide range of vehicles. It can be transported in cargo ships and even in extreme long monster truck trailers.
Most of the food & beverage, chemicals and pharmaceuticals companies are associated with bulk shipment process. Bulk containers are the first choice for transporting food gradients as these containers are capable of providing benefits to the warehouse operators who inevitably require a safe and hygienic process to transport some specific food items.
This collapsible container helps in shipping these products in an efficient and safe way. Moreover, sometimes using a poly liner inside the bulk container in the process of transporting materials helps in maintaining hygiene and integrity of the respective product.
Future Market Insights, in its new report, offers an unbiased analysis of the global bulk container packaging market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the bulk container packaging market on the basis of product type (Flexitanks, Bulk Containers (Flexible- BIB Containers, FIBC, Rigid Bulk Containers- Lined RIBC, Unlined RIBC) and Bulk Container Liners), material type (Plastic (HDPE, LDPE and LLDPE, PP, PVC, Others), Metals and Others (Wood, Fiber, Paper Board), end use (Industrial Chemicals (Hazardous Chemical, Non Hazardous) Petroleum and Lubricants, Food and Beverages, Paints inks and Dyes, Pharmaceutical and Others) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help