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Bulk Container Packaging Market Report In-Depth Analysis of Industry Growth Trends & Forecast up to 2024

Author : Rahul Varpe | Published Date : 2019-05-08 

Global Market Insights provides a detailed overview of Bulk Container Packaging market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Bulk Container Packaging market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Increasing popularity of flexitank in transporting food ingredients and chemicals is a major factor propelling the bulk container packaging market during the forecast period. Properties such as increased space, higher capacity and payloads, less loading and filling time, lighter weight, etc. gives flexitanks advantage over other alternatives such as ISO containers, barrels & drums. These are increasingly used to carry oils, beverages, syrups, paints, and other non-hazardous chemicals and its increasing usage will drive the market growth.

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North America bulk container packaging market will also witness commendable gains over the coming years, driven by the growing demand for export of agricultural products including oilseeds, corn, grain, and soya bean. Estimates depict that North America dominated the overall bulk container packaging industry share in 2015, with major contributions from the U.S.

Bulk container packaging industry size from chemical applications will also chalk a profitable growth curve in the years ahead at a projected CAGR of 10% over 2016-2024. Easy availability of raw materials, supportive government policies, and increasing investments by the chemical manufacturers are some of the factors that have significantly augmented chemical trade across APAC belt. This, in turn, is expected to provide a significant push to bulk container packaging market growth over the coming seven years. Overall, with China at the growth front, Asia Pacific market will witness maximum gains with an annual growth rate of 11% over 2016-2024.

Food and beverage sector contributed a major chunk toward bulk container packaging market share, covering almost 30% of the overall application landscape in 2015. The demand for food has witnessed a massive increase from the ever-increasing population base which has already crossed the seven billion mark. In addition, increasing consumer spending over beverages such as tea, coffee, wine, juice, have also considerably fueled the application growth

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The escalating commercialization of Bulk Container Packaging Market is influenced by a wide range of factors, increasing exports of comestible oil from South East Asia being a major one. As the transportation industry is continuously seeking for cost effective and efficient commodity trade, bulk container packaging is becoming the most preferred choice across utility domains. Indonesia and Malaysia are two main countries where the trend is notably increasing day by day. For instance, in 2007, Indonesia exported palm oil estimated almost around 14 million tons, which in 2013, rose to near about 20 million tons. Another factor which is favoring increasing penetration of the market is technological interventions in terms of packing innovation. As per a report by Global Market Insights, Inc., “bulk container packaging market is poised to chart a double-digit growth rate of 10% CAGR over 2016-2024, with a target revenue of more than USD 6 billion by 2024.”

Flexible intermediate bulk container (FIBC) is another major product segment substantially contributing to the overall bulk container packaging industry share. These products are widely incorporated in industrial applications such as transporting building materials, detergents, polymers, non-hazardous chemicals etc. Holding the maximum bulk container packaging industry share in 2015, FIBC market is likely to witness substantial growth in the coming years.

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Global bulk container packaging market is exceedingly consolidated with three key market participants occupying 50% of total share. Major industry players include BLT Flexitank, Shandong Anthente, Environmental Packaging Technologies, KriCon, Braid Logistics, Buscherhoff Spezialverpackung, Qingdao LAF Packaging, K Tank Supply Limited, MY Flexitank (MYF), Trust Flexitanks, SIA Flexitanks, etc.

About Global Market Insights:

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.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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