Bulk Container Packaging Market size is anticipated to cross USD 35 million by the end of 2033, witnessing around 10% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of bulk container packaging was USD 20 Million. The growth of the market can be ascribed to the rising international sea-borne trade, especially over the past decade, which, in turn, is boosting the demand for bulk cargo. For instance, in 2018, approximately 3000 million tons of bulk cargo were loaded with bulk commodities on the global merchant fleet.
Global bulk container packaging market trends such as, skyrocketing demand for plastic-based packaging solutions and higher production of plastic across the globe are projected to influence the growth of the market positively over the forecast period. For instance, the total production of plastic worldwide was estimated to be around USD 350 million metric tons in 2020. Moreover, the up-surged freight transportation services index (TSI) and booming demand for gasoline are further expected to hike the growth of the market over the forecast period. Based on the statistics provided by the Bureau of Transportation Statistics, the TSI index increased by 5.0% from August 2021 to August 2022. Hence, all these factors are estimated to hike the growth of the market over the forecast period.
Growth Drivers
Growing Export of Alcohol to Boost the Market Growth- As per the data provided by the World Bank, in 2019, the alcohol export volume by country (in liters) was stated to be from China (24,063,200), Singapore (2,119,260), EU (87,137,400), USA (17,728,200), Germany (21,724,500), and others. Alcohol is produced differently in various countries highly influenced by the culture and atmosphere of that particular place. But by exporting and importing the specific alcohol of different places, the economy gets robust and the taste gets distributed to be consumed by people living in distant countries. For instance, in 2022, India exported alcoholic beverages worth approximately USD 250 million.
Rising Shipment of Industrial Chemical Globally. - As of 2022, the total revenue generated by the global chemical industry was valued at approximately USD 4500 billion, additionally, the share obtained by the China and United States was estimated to be nearly 45% and 12% respectively.
Increasing Export and Import of Food- According to the statistics by the World Bank, food exports (as a share of merchandise exports) reached 9% in the year 2021 while food import was stated to be 8% in similar year.
Spiking Demand for Spices Across the Globe- As new companies emerge to use spices in ways other than to flavour food, the demand for spices does not appear to be slowing down. For instance, in 2021-22, the total export volume of spices products was estimated to be about USD 4000 million from India alone.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~10% |
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Base Year Market Size (2022) |
~USD 20 Million |
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Forecast Year Market Size (2033) |
~USD 35 Million |
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Regional Scope |
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End-user (Food & Beverage, Petroleum & Lubricants, Paint & Dyes, Pharmaceuticals)
The global bulk container packaging market is segmented and analyzed for demand and supply by end-user into food & beverage, petroleum & lubricants, paint & dyes, pharmaceuticals, and others, out of which, the food & beverage segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the significant utilization of bulk containers in the food and beverage industry. As of 2022, the total revenue generated by the food & drink segment was estimated to reach approximately 0.75 billion.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Materials |
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By End-User |
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Regionally, the global bulk container packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be accounted to the rising number of micro, small & medium enterprises (MSME) and the growing middle-class population. As per the data published by the India Brand Equity Foundation (IBFE), the export share of entire India export in the MSME industry was stated to be nearly 49.4% in 2021 and 49.8% in 2020. Hence, the market is expected to grow at an exponential pace during the forecast period.
Hoover Circular Solutions
Amcor Limited to receive the gold EcoVadis medal for its sustainability practices to lead the industry. the medal is given to Amcor Limited to signify its extensive work by putting it among the top 5% of all the companies in its sector.
Greif, Inc., a leading company in industrial packaging and product services, to launch a sustainable and high-performance jerrycan based in Brazil. The jerrycan is launched for the packaging of chemicals, flavors, agrochemicals, fragrances, and beverages.
Author Credits: Sadaf Naaz, Mohd Shadab
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