Global Bulk Container Packaging Industry Poised For Steep Increase
The world has truly become globalized. It is not just people going from one country to another, be it for work or leisure, but even goods are crossing borders and boundaries. This has created an urgent need for bulk container packaging which is spurring the growth of the bulk container packaging industry.
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A report entitled “Bulk Container Packaging (Flexitanks, FIBC and Bulk Container Liners) Market for Food & Beverages, Chemicals, Pharmaceuticals and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2022” by Zion Research states that in 2014, the bulk container packaging market was worth US$2,427 million.
This market is expected to generate revenues amounting to US$5,035 million by the end of 2022. This means that the global bulk container packaging industry will grow at a compound annual growth rate of 9.5 per cent between 2015 and 2022.
Understanding Bulk Containers
Bulk container refers to reusable industrial container that can be used to transport as well as store solvents, food and beverages, chemicals, pharmaceuticals and even sand.
Bulk container encompasses flexitanks, FIBC bags and even bulk container liners. Typically, FIBCs are used to transport dry but flowable products, such as sand and powdered fertilizers. The reason that industries turn to packaging is because they are cost-efficient and ensure safe and secure storage and transportation.
Future of Bulk Container Packaging Industry
The bulk container packaging industry is growing by leaps and bounds. This is primarily because wine exports from Europe are increasing as also vegetable oil exports from Southeast Asia. It is anticipated that this surge in export will fuel the growth of the industry.
However, at the same time, the prices of polypropylene and polyethylene are fluctuating. This can adversely affect the growth of the bulk container packaging industry as these two products are used in the manufacture of bulk container packaging.
The industry will also receive an impetus due to increasing commodity trade in Brazil, Russia, India, China and South Africa (BRICS). It is believed that the rising commodity trade in these nations will offer newer opportunities for bulk container packaging in the coming few years.
Presently, FIBC bags are in highest demand and this is the packaging segment that ensures the biggest revenue stream for FIBC manufacturers. It is expected that this segment will continue its growth. However, researchers from Zion Research also believe that bulk container liners will also see positive growth, after having a market share of 32 per cent in 2014.
This highest demand for packaging is from North America, followed by Europe and Asia Pacific. However, in the coming few years, Asia Pacific will witness the fastest growth in the packaging industry while Europe will witness a moderate growth.
Finding bulk container packaging is not that difficult if you have access to a reliable manufacturer. Rishi FIBC Solutions offers international quality packaging options and solutions to suit different packaging and transportation needs. Its state-of-the-art manufacturing unit and superior quality control measures, make Rishi FIBC Solutions a major player in the packaging industry.