Industrial Bulk Packaging Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Industrial Bulk Packaging Market is segmented By Product (Drums, IBC, Pails, Totes/Crates, Others), By Application (Chemicals & Pharmaceuticals, Food ....
Industrial Bulk Packaging Market Size
Market Size in USD
CAGR4.8%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 4.8% |
| Market Concentration | Medium |
| Major Players | Grief, BWAY Corporation, Cleveland Steel Container, Composite Containers LLC, Eagle Manufacturing Company |
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Industrial Bulk Packaging Market Analysis
The Global Industrial Bulk Packaging Market is estimated to be valued at USD 26.5 Bn in 2024 and is expected to reach USD 38.8 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.
The industrial bulk packaging market is expected to witness significant growth over the forecast period. Traditionally, drums were the primary choice for bulk packaging in industries such as chemicals, pharmaceuticals, and food and beverage. However, with growing awareness about environmental protection, industries are shifting towards reusable bulk containers. Rigid intermediate bulk containers (RIBCs) offer advantages such as reusable and returnable nature, ease of cleaning, and ability to store and transport bulk liquids and solids. Growing industrialization and global trade have increased the demand for efficient and sustainable bulk packaging solutions. Moreover, stringent safety and quality regulations regarding transportation and storage of hazardous chemicals are also driving the adoption of reliable industrial bulk containers.