Rigid Bulk Packaging Market Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast 2029
The global rigid bulk packaging market size is anticipated to experience profound growth owing to growing demand from the e-commerce sector. This information is published by Fortune Business Insights in its report, titled “Rigid Bulk Packaging Market, 2022-2029“. Certain products such as fragrance, processed food, and others have become highly available in the market with the revolution of bulk packaging. The Simons National consumer survey state that around 102.18 million Americans had canned meat in 2019.
Bulk packaging gained significant momentum during the COVID-19 situation. Canned items were frequently bought as the packaging gives them a longer shelf life which made it an essential product during the pandemic. Even pet food is available can which makes it easier to store. The demand for packaging in the healthcare sector has also been rising as complications associated with COVID-19 continue to rise. A few setbacks during the lockdown period in demand for rigid bulk packaging were experienced as most of the end-use industries had been non-operational. Yet, the losses were not that significant as demand in certain other industries balanced the situation.
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Based on material, the market for rigid bulk packaging is segmented into plastic, wood, metal, glass, bioplastic, paper & cardboard, and others. By end-use industry, the market is grouped into food & beverages, pharmaceuticals, personal care, chemicals, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report has details on all the latest technology available in the market. The technological advances made in the industry has been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advices various solution to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Drivers & Restraints
Rising Petroleum Consumption to Favor Market Growth
The use of heavy-duty containers for transporting oils, chemicals, or liquids in bulk also makes it essential for the global economy. The rise of using perfumes and deodorants has significantly raised the demands of cans for packaging them. One of the unique characteristics of bulk packaging is that it can be recycled and reused according to the material. This recycling makes it eco-friendly and gives the various industries an option to opt for conserving the environment.
The rigid bulk packaging market growth is also propelled by the government using various recycling stations across public spaces. An initiative in India observed plastic water bottle recycling machines across major railway stations. These machines exchange those bottles and give discounts on travel fares.
Government Support in Asia Pacific to Aid Growth for Bulk Packaging
Asia Pacific is expected to hold a significant rigid bulk packaging market share as consumer goods giants in the immediate region utilizing this packaging. The packaging is largely being used for aerosol cans for producing perfume, hair spray, bugs spray, and others. The packaging of jet fuel, kerosene, gasoline, and other petroleum products in this region has boosted its growth.
North America is also expected to have a significant share in this market as the packaging of various edibles is being done in bulk. Moreover, India and China’s pharmaceutical industries are vigorously using rigid bulk packaging for ointments, capsules, bottle caps, and others.
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Key Players to Focus on Expanding Distribution Capacities
The competitive landscape of rigid bulk packaging is mainly concentrated in North America. This market has been considered one of the essential sectors even during the pandemic due to various product applications. Also, constant innovations in packaging products are creating new demands in the market. Many packaging giants are also focused on expanding their operations globally to gain traction in the market. Several of them are collaborating for entering strategic acquisition and mergers to benefit from the connection mutually.
List of Key Players Profiled in the Market:
- Core Plastech International Inc
- SCHÜTZ GmbH & Co. KGaA
- Berry Global Inc
- Packaging Corporation of America
- Hoover Ferguson Group, Inc
- Schoeller Allibert
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