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Bulk Container Packaging Market Overview by Trends, Growth Opportunities & Forecast to 2024

Author : Rahul Varpe | Published Date : 2019-06-03 

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. Increasing demand for edible oil from India, Europe, China and growing bio-fuel usage due to its eco-friendly nature will boost the bulk container packaging market growth.

High population growth and rising income levels has led to increased food & beverage demand in this region and will in turn fuel the bulk container packaging market growth. Indonesian palm oil exports in 2013 reached approximately 20 million tons increasing from an amount of 14 million tons in 2007. Flexitanks are widely used for oil exports due to its low cost and efficiency.

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Bulk Container Packaging Market will likely surpass USD 6.3 billion by 2024 according to this new research report. Increasing popularity of flexitank in transporting food ingredients and chemicals is a major factor propelling the market during the forecast period.

North America is poised to occupy majority of the bulk container packaging market by 2024 with a revenue above USD 1.9 billion. Growth in this region will be propelled by high export volumes of oilseeds, grains and corn from the US to other parts of the world. Asia Pacific will be the fastest growing regional market with a CAGR above 11.5%. Rising edible oil exports from Southeast Asia, mainly from Indonesia and Malaysia, will be a contributing factor for the global bulk container packaging market during the forecast period.

Food & beverage segment is anticipated to grow at a CAGR of 10.6% during the forecast period. Rising demand for food products owing to increased population growth will augment this segment. Chemicals segment will likely generate revenue above USD 3.4 billion by 2024 and will likely occupy a significant share of the market.

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Flexitanks and bulk container liners are produced from petro-based products such as polyethylene (PE) and polypropylene (PP). Fluctuating crude oil prices have a direct effect on the prices of PE & PP and will likely hamper the bulk container packaging market in the coming years.

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

Flexitanks is the fastest growing product segment and its market value is anticipated to be above USD 630 million in 2024. Bulk containers segment revenue is anticipated to reach USD 2.4 billion by 2024 growing at a healthy rate during the forecast period. Flexible intermediate bulk containers segment is projected to grow at a moderate rate and this segment will likely occupy more than half of the bulk container packaging market during the forecast period.

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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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