Rockville, Feb. 09, 2023 (GLOBE NEWSWIRE) -- At present, the global rigid bulk packaging market is valued at US$ 8 billion and is predicted to reach US$ 12.5 billion by 2032, according to Fact.MR, a market research and competitive intelligence provider.
Rigid bulk packaging can hold a variety of objects in its form, and due to its strength, sturdiness, and durability, it protects them from outside harm. Because of its rigidity, this kind of packaging cannot easily deform under pressure and can be utilized for extended periods without leaking or malfunctioning. For packaging volatile, extremely reactive, and fragile materials, rigid bulk packaging is widely used.
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Key Takeaways from Market Study
- Demand for rigid bulk packaging is forecasted to increase at a CAGR of 4.6% over the next 10 years.
- Market in Germany is set to evolve at a CAGR of 3.1% over the decade.
- Sales of drums are anticipated to rise at a CAGR of 4% from 2022 to 2032.
- Market in Canada is estimated to increase at a 3.5% CAGR through 2032.
“Green packaging, sometimes referred to as sustainable packaging, is a recent innovation in the market. The need for renewable and environment-friendly materials is increasing as a result of severe limitations of the recycling of packing materials. It is anticipated that demand for bioplastics for packaging would continue to increase over the coming years,” says a Fact.MR analyst
Winning Strategy
Leading rigid bulk packaging product producers are introducing brand-new, cutting-edge solutions specifically designed for several end-use industries. To strengthen their global presence and market dominance, major companies in the market are also investing in expanding their manufacturing capacities and geographic reach.
To meet various requirements, major market players provide a variety of rigid bulk packaging goods in a wide range of designs and capacities. Leading package firms are creating and producing recycled plastic bottles, jars, and clamshells to increase their range of sustainable packaging.
For instance,
- In 2020, the Mauser Group announced the development of its capacity for producing plastic drums and intermediate bulk containers in the Turkey site.
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Competitive Landscape
Key players in the rigid bulk packaging market are offering environmentally friendly and sustainable packaging solutions to attract consumers. Leading companies are concentrating on growing their presence, product offerings, capabilities, and resources to meet the increasing demand for rigid bulk packaging in various regions.
For instance,
- In 2020, new intermediate bulk containers were introduced by Elkart Plastic, a division of Myers Industries that can be utilized in several different applications.
Market Frontrunners
- Bemis Company Inc.
- Amcor PLC
- Mondi PLC
- Brambles Ltd.
- Berry Global Inc.
- Greif Inc.
- Nefab Packaging AB
- Sonoco Products Company
- The Cary Company
- Taihua Group
- Hoover Container Solutions
- Cleveland Steel Container
- Bulk-Pack Inc.
- BWAY Corporation
- WestRock Company
There is growing demand for high-quality and sustainable packaging materials for food packaging due to rising disposable income and the convenience of purchasing meals online. The market for rigid plastic packaging is expanding due to improvements in packaging technology and continued research and development efforts in packaging techniques.
Sales of pails are anticipated to be driven by the increased need for chemicals, food and beverage additives, and oil lubricants. Industrial chemical manufacturers are currently concentrating on lightweight, affordable packaging solutions with bulk liquid packaging requirements.
Key Segments of Rigid Bulk Packaging Industry Research
- By Material:
- Plastic
- Metal
- Wood
- Others
- By Product:
- Pails
- Drums
- Material Handling Containers
- Bulk Boxes
- Rigid Intermediate Containers
- By Application:
- Pharmaceuticals
- Chemicals
- Food & Beverages
- Durable Goods
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Rigid Bulk Packaging Market Report
- What is the projected value of the Rigid Bulk Packaging Market in 2023?
- At what rate will the global Rigid Bulk Packaging Market grow until 2033?
- Which are the factors hampering the growth in the Rigid Bulk Packaging Market?
- Which region is expected to lead in the global Rigid Bulk Packaging Market during 2023 to 2033?
- Which are the factors driving the Rigid Bulk Packaging Market during the forecast period?
- What is the expected market value of the Rigid Bulk Packaging Market during the forecast period?
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global rigid bulk packaging market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of material (plastic, metal, wood, others), product (pails, drums, material handling containers, bulk boxes, rigid intermediate containers), and application (pharmaceuticals, chemicals, food & beverages, durable goods, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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