A report by Global Market Insights Inc., predicts that the overall bulk container packaging market is expected to record a target valuation of USD 6.9 billion by the end of 2025, given its full proof use across F&B, and chemical sectors.
An innate sub-vertical of the polymers and advanced materials industry, the global bulk container packaging market is poised to witness massive momentum over the upcoming years on the grounds of its excessive deployment in food and beverage, and chemical industries. Bulk container packaging market is also characterized by the amount of resources being transported worldwide, and in this regard, low transportation cost stands as an underlying factor determining the growth of the market. In fact, around 90% of goods are being transported via the sea route, with over 70% being the containerized cargo.
Transportation costs play a significant role in the overall logistics spending, and with the increasing fuel prices, rising cost is pressed on customers as highly priced goods, thus demonstrating inefficiency. This raises an immense need for more advanced and cost-effective solutions for bulk container packaging for reducing the transportation cost, while laying a major impact on bulk container packaging industry trends.
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Lately, the global bulk container packaging market is driven by the mounting food demand from all across the globe. With the world population rising from 7.7 billion to 9.7 billion by 2050, a study reveals that the overall food production would also witness a dramatic rise between 58% to 98% by the end of 2020. On the contrary, data by the United States FAO, 2011, reported that about one-third food, produced for human consumption is wasted almost every year.
The proper deployment of food supply to connect with underprovided areas like rural, and other underprivileged regions that face food shortage, will generate an extensive demand for bulk containers liners, flexitanks, FIBC, and other products, eventually bolstering the bulk container packaging market size over the foreseeable time frame.
Significant demand from food and beverages sector to drive bulk container packaging market
Expanding export of food supplies and other related products is currently fueling the industry growth. And in this regard, it is overt to mention that the food and beverages sector would emerge as a prominent users of bulk container packaging market. Supporting the aforementioned statement, as per data released on official Europa website, the export of EU agri-food products reached a mammoth of 138 million euros in 2017, depicting an annual increase of 5.1 per cent. Advancements like these are anticipated to demonstrate the significance of bulk container packaging industry.
Above that, extending government support towards food safety is also favoring the market growth over the years. For instance, the FSSAI on July 2019, pronounced strategies to amend the Food Safety and Standards Act to expand its dominance on the nation’s food exports.
One of the major regions as to why bulk container packaging market is observing prominence in the F&B sector is attributed to the product’s low contamination risks, which ensures that the import and export of food supplies is safely carried out.
Unveiling the geographical landscape across the industry
Amidst the drastically profusely charged intense share battle, North America has been considered to observe a significant percentage of authority over the regional demographics in the overall bulk container packaging industry. This growth is solemnly ascribed to the burgeoning demand for grains, oilseed, and corn, basically in countries like the United States, Canada, and others. In addition to this, the region also bears to be one of the largest food product exporters in the world.
In fact, according to estimates, over 8 per cent of foods, beverages, and feeds, that accounted for USD 131 billion were exported from the U.S in 2019. Besides, corn exports were worth USD 9 billion while soybeans amounted for USD 20 billion the same year.
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Another regional belt which is poised to merge as a strong contender for bulk container packaging industry is the Asia Pacific. What has driven the growth across this region is its improving relationships with other regions when it comes to import and export of goods. As a matter of fact, the UAE recently announced China to be its one of the important trade partners in non-oil commodities. Moreover, countries across the region have also been witnessing phenomenal development as food exporters, thus providing a push to the bulk container packaging market expansion across APAC.
Fluctuating prices of bulk container packaging raw materials to impede market growth
Volatility in the prices of bulk container liners, FIBC, and flexitanks considering their synthesis from polyethylene and polypropylene, which as well is experiencing price fluctuations, is expected to obstruct the expansion of overall bulk container packaging industry.
However, elevating demand for oil, beverages like fruit juices, beer, wine and others would considerably propel the industry outlook in the years ahead.
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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