Bulk Container Packaging Market is slated to witness a double-digit growth over the coming seven years driven by its rising demand across transportation industry for an efficient commodity trade in terms of operation and cost. Increasing demand for oil and beverages in the BRIC nations resulting into rise in import & export logistics is likely to spur the bulk container packaging industry trends. According to Global Market Insights, Inc., “Bulk Container Packaging Market size is anticipated to grow at a CAGR of 10% over the period of 2016-2024.”
Bulk container packaging products include bulk container liners, flexitanks, and (FIBC) flexible intermediate bulk container(FIBC). Flexitanks are widely used as they are best suitable in transportation and exports of fruit juices, edible oils, and wine. Increasing exports of these products, mainly in Southeast Asia will drive the bulk container packaging market. Moreover, rising palm oil demand and increasing biofuel production will generate heavy demand for the flexitanks. Flexitanks provides superior protection against contamination and enable the transport of 20 times more liquid quantity than other alternatives in same cost, which will be a key factor influencing the product demand. Flexitank market worth USD 150 million in 2015 will witness maximum gains over the coming seven years.
U.S. Bulk Container Packaging Market size, by application, 2013 - 2024 (USD Million)
Flexible intermediate bulk container is another money-making segment which attained maximum industry share in 2015. The FIBCs are apt for transporting building materials, detergents, polymers, and powdered non-hazardous chemicals. Moreover, availabilities of flame retardant, conductive, antistatic, and dissipative bags will boost the business for the FIBC, thereby propelling the bulk container packaging industry in the coming seven years.
Bulk container packaging industry finds major application in food & beverage and chemical industry. The increasing population base across the globe has generated heavy demand for food products in large volume along with low cost. The food & beverage application worth USD 900 million in 2015, is estimated to witness substantial gains over the coming seven years. Increasing expenditure toward food & beverages has considerably propelled worldwide demand for wine, beer, tea, and coffee. In response to this fact, the bulk container packaging market is witnessing escalating gains, owing to increasing import & export trades over the globe.
Bulk container packaging industry in the chemical sector is expected to show solid growth over the coming timeframe. This sector is poised to witness substantial gains, owing to the rising demand for transportation of semi-finished products, materials, lubricants, and minerals. Bulk containers packaging industry share in the chemical applications is estimated to register a CAGR of 10% over the period of 2016-2024. The easy availability of raw materials in Asia Pacific regions coupled with supportive government policies and lower costs has augmented the chemical trade, which in turn will offer a positive push to the bulk container packaging market in the coming years.
Geographically, North America bulk container packaging market accounted for the largest industry share in 2015. Increasing demand in export of agricultural products such as soybean, oilseeds, and corn along with export of wine& beer from U.S. will fuel the North America bulk container packaging industry share.
Asia Pacific bulk container packaging market, particularly led by India and China will witness highest annual growth rate of 11% over the analysis period from 2016-2024. Increasing import of food and beverages (wine, beer, tea, coffee, fruit juice, etc.) due to increasing spending capacity and changing lifestyle will propel the regional market growth over 2024.
The top notable industry players in the global bulk container packaging market include Braid Logistics, BLT Flexitank Industrial, MY Flexitank (MYF), Environmental Packaging Technologies and SIA Flexitanks.
Written By : Ojaswita Kutepatil