Global Market Insights, Inc. has added a new report on Bulk Container Packaging Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape Industry in tandem with its competitive terrain.
According to the latest study by Global Market Insights, Inc., bulk container packaging market is anticipated to be worth more than $6.9 billion by the end of 2025. Bulk container packaging market is expected to be driven by the burgeoning food demand, globally. The world population is projected to grow to 9.7 billion by the year 2050, while a study suggests that overall food production will need to increase by 25% to 70% between now and 2050. However, according to an article by a leading daily, there exists enough food, but the problem lies in its distribution.
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Growth drivers are
- Superior flexitank characteristics as compared to other counterparts
- Increasing edible oil export from Southeast Asia
- Rising wine trade across the globe
The global bulk container packaging market is slated to witness considerable returns over the coming years on account of its excessive deployment in chemical, food and beverage industries. The amount of resources being transported throughout the globe is a major indicator of the significance of bulk container packaging. Globalization primarily facilitates the possibilities by distancing manufacturing bases from consumption regions, which creates the need for efficient and safe transport of goods.
Increase in transportation cost is another factor that is likely to boost bulk container packaging industry. Transportation costs are a significant part of the overall logistics spending and with the surging fuel prices, the increasing cost is pressed on customers as highly-priced goods. There is an immense need for more advanced and cost-effective bulk container packaging solutions for significantly reducing transportation cost, which is estimated to have a major impact on bulk container packaging market trends.
Burgeoning export of products that require bulk container packaging solutions would fuel industry growth. Food and beverages sector is a leading end-user of bulk container packaging. Therefore, increasing export/import of food and beverages will provide substantial momentum to bulk container packaging market growth. For example, the export of agri-food products in the EU has reached €138 billion, demonstrating a 5.1% yearly increase. Such developments will prove highly beneficial for bulk container packaging industry growth in the coming years.
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Increasing government efforts toward food safety could also favor market growth. Recently, the Food Safety and Standards Authority of India announced plans to amend the Food Safety and Standards Act to expand its jurisdiction on the country’s food exports. Bulk container packaging has several advantages including low contamination risks, which implies that it is a safe choice for exporting or importing food materials. The imposition of stringent food safety standards would encourage more food manufacturers to prefer bulk container packaging solutions to transport their products, thereby augmenting global bulk container packaging market share over the ensuing years.
In terms of geographical development, North America is projected to be a profitable contributor to the global bulk container packaging market. Growth in the region can be accredited to the rising demand for oilseed, grains, and corn primarily in nations like the United States. Besides, the nation is also the largest food products exporter in the world. Some of the popular exports from the country include staples like potatoes, wheat, sugar, and chicken. The burgeoning demand for these food items worldwide will promote the North America bulk container packaging industry outlook.
Partial Chapter of the Table of Content:
Bulk Container Packaging Market, By Product
- Flexible intermediate bulk container (FIBC)
- Bulk container liners
Bulk Container Packaging Market Share, By Application
- Food & beverage
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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The Asia Pacific market is anticipated to emerge as a strong contender over the coming years, owing to improving trade relationships with other regions. For example, the UAE recently claimed China to be its leading trade partner in non-oil commodities. Additionally, Asia Pacific countries are observing tremendous development as food exporters. According to Wine Australia, the overall value of wine exports surged by 4% in 2018-2019 in Australia. These developments will play a crucial role in further impelling bulk container packaging market growth in the Asia Pacific region.