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Global Rigid Bulk Packaging Market InsightMay 17, 2022 Comments
Global rigid bulk packaging is forecast to 6.04% over the next five years. According to the WK-chem Research, “Global Rigid Bulk Packaging Professional Survey Report 2022, Forecast to 2027”, moreover, increasing logistics and transportation activities is likely to boost the demand for rigid bulk packaging. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.04% base on WK-chem Research regression analysis model.
“Some of the major drivers contributing to the growth of this market include the emergence of sustainable and recycling packaging materials, steady growth in construction activity and increased demand for food and packaging transport materials across the globe. Further, the greater need to improve logistics costs, bill of materials, and enhance overall efficiency across the supply chain, is expected to drive investments in innovation among the industrial packaging manufacturers over the forecast period”, said Hudson Patel, Senior analyst, in WK-chem Research.
Growing awareness amongst the consumers regarding packaging and increasing demand from the food & beverage packaging industry is driving the Rigid Bulk Packaging Market during the predicted period. Also, a shift in consumer habits towards packaged food and rising demand for biodegradable rigid plastic packaging expects a boost to the market in the coming years. Additionally, the growing disposable income of people in developing countries and the surge in demand from the e-commerce industry are providing lucrative opportunities for the market to grow over the forecasted years. There are certain restraints and challenges faced which can hinder the market growth.
Factors such as stringent government regulations, fluctuating raw material prices, and environmental concerns are likely to act as market restraints.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading rigid bulk packaging companies that include: Mondi PLC, Greif Inc, Nefab AB, SCHÜTZ, KGaA, Sonoco Products Company, Bemis Company Inc, The Cary Company, Taihua Group, Hoover Container Solutions, and Cleveland Steel Container.
Segmentation of Rigid Bulk Packaging Market:
According to the type, the market for rigid bulk packaging is divided into: Bioplastics, Polyethylene, Polyethylene Terephthalate. The Polyethylene segment is expected to hold the largest market share. The factors can be attributed to its properties such as its extremely lightweight nature, superior flexibility, excellent rigidity, durability.
According to the application, the market for rigid bulk packaging is divided into: Food, Beverage, Healthcare, Cosmetics & toiletries, Industrial, and Others. The Healthcare segment is anticipated to have the highest CAGR in the forecasted period. The factors can be attributed to the increasing demand for pharmaceutical products due to the growing prevalence of chronic diseases.
Rigid Bulk Packaging Market: Regional Analysis
In terms of geography, the global rigid bulk packaging market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The largest share in the market will be dominated by the Asia Pacific owing to the presence of several emerging economies and increasing manufacturing & construction industries in this region.
Largest share area：Asia Pacific
Largest share country：China
Product Type：Bioplastics, Polyethylene, Polyethylene Terephthalate.
Application：Food, Beverage, Healthcare, Cosmetics & toiletries, Industrial, and Others.
Leading Company：Mondi PLC, Greif Inc, Nefab AB, SCHÜTZ, KGaA, Sonoco Products Company