Global rigid bulk packaging market to grow at a CAGR of 4.23% through 2020
Growth driven by the need for innovative packaging in warehouses for storing, handling, and distribution.
In a recent report, analysts forecast the global rigid bulk packaging market to grow at a CAGR of 4.23% during the period 2016-2020.
Global Rigid Bulk Packaging Market 2016-2020 has been prepared by Infiniti Research Limited and is based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape, its growth prospects over the coming years, and a discussion of the key vendors operating in this market, including Berry Plastics, Brambles, Greif, Sonoco, and WestRock. Other prominent vendors include: Bonar Plastics, Berenfield Containers, BWAY, Chem-Tainer Industries, Hedwin, Hoover Container Solutions, Mauser Packaging Company, Menasha Packaging, Rehrig Pacific, Remcon Plastics, and Schoeller Allibert.
According to the report, key growth drivers in the rigid bulk packaging market are globalization and international trade. The two primary elements driving the global rigid bulk packaging market are the innovative progression (which has reduced the cost of transportation) and the increase in the liberalization of the trade and capital market (which has increased export and import activities). Many emerging economies like China, Russia, Brazil, and India are changing their pattern of trade and investment. Demand for oil- and agriculture-based commodities is increasing rapidly. The increase in trade of oil and chemical has also driven the growth of the bulk container market, but volatility in raw material prices could hamper market growth.
An analyst cited a trend boosting market growth is the resurgence in demand for material handling containers after the global economic downturn. The growth in the manufacturing of components, parts, and other durable metal products used in the composition of heavy automobiles and machinery is driving the need for innovative packaging in warehouses for their storing, handling, and distribution purposes. The portfolio of material handling containers includes attached-lid containers, heavy-duty rigid and folding containers, and stackable containers.
This report covers the present scenario and the growth prospects of the global rigid bulk packaging market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of different types of rigid bulk containers to industries such as food and beverage, pharmaceutical and healthcare, chemicals, and others.
Rigid bulk packaging is used in industries including chemicals, pharmaceuticals and healthcare, and food and beverage. It helps in the protected delivery of these goods in large quantities from the point of manufacture to the point of distribution channel, where these are finally packaged for customers. Materials like rigid plastics, steel, and paperboard are used for rigid bulk packaging. This market is characterized by innovative offerings and customizations aligned with customer specifications.
