July 11, 2022 08:07 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, July 11, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Bulk Container Packaging Market finds that increasing demand for industrial chemicals shipping, increasing non-contaminated Food & Beverage delivery, and rapid growth of these containers in multiple industries are predicted to bolster the growth of the Bulk Container Packaging Market during the forecast period. The Global Market revenue was valued at USD 3.7 Billion in the year 2021.
The Global Bulk Container Packaging Market size is forecasted to reach USD 6.3 Billion by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period; states Vantage Market Research, in a report, titled “Bulk Container Packaging Market Size, Share & Trends Analysis Report by Product (Flexi Tanks, Bulk Containers, Bulk Container Liners, Other Products), by Material (Plastic, Metals, Other Materials (Wood, Fiber, Paper Board), by End-Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
Handiness with Regards to Transportation
Bulk field packaging guarantees clean maneuverability and transportability of massive volumes of the product. It is made from identical dimensions to shipment pallets, which leads to clean maneuvering of the field and the usage of forklifts. Flexitank and bendy bulk packing containers are the suitable packaging answers for Returnable Transport Packaging (RTP) as it requires less area and reduces shipping cost. Better profitability margin is predicted with the multiplied use of massive-sized, better-fee reusable bulk packing containers which can be used over small packing containers having shorter lifespans. Therefore, increasing focus on easy transportation is anticipated to propel the growth of the Bulk Container Packaging Market.
The Rise in Demand for Plastic-Based Packaging Solutions
The plastic-based packaging products such as pails and drums are developed from various materials like glass and metal which gathered the attention of many consumers as it helps in achieving economies of scale. In addition, many manufacturers use plastic as a raw material to develop a favorable product in order to meet the product’s durability and maintain its reliability. There is an increase in demand for plastic-based container in order to carry dangerous goods that includes flammable, explosive, toxic, and hazardous products, which is also expected to witness the maximum growth of the Bulk Container Packaging Market in coming years.
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Segmentation of the Global Bulk Container Packaging Market:
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the effect of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Bulk Container Packaging Market industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
The Report on Bulk Container Packaging Market Highlights:
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Bulk Container Packaging Market Size, Share & Trends Analysis Report by Product (Flexi Tanks, Bulk Containers, Bulk Container Liners, Other Products), by Material (Plastic, Metals, Other Materials (Wood, Fiber, Paper Board)), by End-Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
North America Anticipated Potential Market Growth
North America is accounted to dominate the growth of the Bulk Container Packaging Market in 2021. This surge is primarily accounted for owing to the increasing corn, oilseeds, grains akin to soybean, and feeds demand from the U.S. In addition, one-third of the entire agricultural land in the U.S. accounts significantly for the export purpose which further propels the regional growth of the Bulk Container Packaging Market. The region is engaged in commercialism & export of alcoholic and wine beverages in massive volume which also contributed to the huge expansion of the Bulk Container Packaging Market in this region.
List of Prominent Players in the Bulk Container Packaging Market:
December 2018: Mauser Packaging Solutions launched a new medical waste container that provides 100% recycled material. The company was awarded the 3rd prize for this innovative product, in 2018.
Key questions answered in the report:
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