Bulk container packaging market Size, Growth & Trend Analysis 2020-2025
Category: #business  By Rahul Sankrityayan  Date: 2020-02-10
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Bulk container packaging market Size, Growth & Trend Analysis 2020-2025

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.

Data by the US’ Food and Agriculture Organization unveiled that food worth $1 trillion produced for human consumption is wasted each year. The proper implementation of food supply to connect with underprovided regions will generate a huge demand for bulk container liners, FIBC, and flexitanks, thereby boosting bulk container packaging market share over the forecast years.

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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.

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.

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.

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In terms of products, flexitanks are estimated to amass substantial gains in global bulk container packaging industry. Flexitanks are often utilized to transport huge volumes of liquid. These are cost-effective compared to other solutions such as FIBCs or ISO tanks or drums. On account of these advantages, several chemical or beverage manufacturers consider flexitanks as an effective and economical alternative for the transportation of liquid products. Growing demand for flexible storage paired with concerns pertaining to liquid portability will drive the demand for flexitank containers in the coming years, thereby boosting market size.

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.

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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.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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