Rigid bulk packaging market to rise at a CAGR of 4.6%

Currently, Fact.MR estimates the global value of the rigid bulk packaging market at USD 8-billion. This figure is expected to surge to USD 12.5-billion by 2032.

02 Apr 2024 | By Abhay Avadhani

Fact.MR presents analysis of the global rigid bulk packaging market, presenting demand data (2017-2021) and forecast statistics for the period of 2022-2032

Rigid bulk packaging serves as a reliable container for a diverse array of items, safeguarding them from external hazards. Its rigidity ensures minimal deformation under pressure, allowing for usage without the risk of leakage or malfunction. Rigid bulk packaging finds application in securing volatile, highly reactive, and delicate materials.

The demand for rigid bulk packaging is forecasted to increase at a CAGR of 4.6% over the next 10 years. Sales of drums are anticipated to rise at a CAGR of 4% from 2022 to 2032.

“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,” said a Fact.MR analyst.

Top manufacturers of rigid bulk packaging products are introducing solutions tailored for multiple end-use industries. They are ramping up their manufacturing capabilities and geographical footprint to bolster their global presence and market share.

To cater to diverse needs, these market players offer a plethora of rigid bulk packaging solutions in various designs and capacities. Additionally, leading packaging companies are innovating by developing and manufacturing recycled plastic bottles, jars, and clamshells, thereby expanding their portfolio of sustainable packaging options.

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. In 2020, new intermediate bulk containers were introduced by Elkart Plastic, a division of Myers Industries that can be utilised in several different applications.

Some of the market frontrunners include; Bemis Company, Amcor PLC, Mondi PLC, and WestRock Company.

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.

Latest Poll

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Results

The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

Shortcomings in EPR policy

 

22.22%

Inadequate infrastructure

 

11.11%

Shortage of recycling firms

 

16.67%

Lack of consumer awareness

 

50.0%

Total Votes : 18

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