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Intermediate Bulk Container Market Trends, Top Companies, Share, Growth And Forecast 2033
Intermediate Bulk Container Market Trends
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According to The Business Research Company's, The intermediate bulk container market size has grown rapidly in recent years. It will grow from $3.24 billion in 2023 to $3.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to demand from emerging economies, market consolidation and competition, advancements in material science, logistics optimization, expansion in chemical industry.
The intermediate bulk container market size is expected to see rapid growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to rising need for efficient logistics, increasing focus on sustainability, expansion in chemical and petrochemical industries, growing global trade, shift in consumer preferences. Major trends in the forecast period include global supply chain dynamics, regulatory compliance and safety standards, demand for flexible packaging solutions, rise in circular economy initiatives, shift in material choices.
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Market Drivers and Trends:
The rising wine trade across the globe is expected to propel the growth of the intermediate bulk container market going forward. The increasing consumption of wine, especially during a celebration in many countries is increasing the demand for wine and its trade. Plastic intermediate bulk containers are mostly used to carry liquids, such as wine or fuel. The intermediate bulk containers are one of the most cost-effective solutions and can be utilized safely in a variety of sectors. For instance, according to Forbes, an American business magazine, in terms of value, the international wine trade climbed by 21% in the first semester of 2021 compared to the previous year. As a result, the growing wine trade around the world is propelling the growth of the intermediate bulk container market.
Major companies operating in the intermediate bulk container market are focusing on developing production facility to meet the escalating demand for efficient and sustainable bulk packaging solutions. A production facility is a location equipped with machinery, resources, and personnel dedicated to manufacturing and assembling goods or providing services on a large scale. For instance, in September 2023, Greif Inc., a US-based industrial packaging company, open a new manufacturing facility for intermediate bulk containers (IBCs) in Dilovasi, Turkey, underscoring its dedication to bolstering global operations and extending its service capabilities to better cater to customers in Turkey and surrounding areas.
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Major Key Players of the Market:
Berry Global Group Inc., DS Smith plc, Mondi plc, Greif Flexible Products and Services, Brambles Limited, MAUSER Corporate GmbH, Myers Industries Inc., Time Technoplast Ltd., BWAY Corporation, LC Packaging International BV, Bulk Lift International LLC, Nefab Group, Hoover Ferguson Group, Inc., Brown Machine LLC, Schuetz Container System Inc., Snyder Industries Inc., Plymouth Industries LLC, CorrPak Bulk Packaging systems LLC, Global-Pak LLC, System Schafer Werke Gmbh, Thermoflex LLC, Arlington Packaging Limited, Environmental Packaging Technologies Inc., Qingdao LAF Packaging Co. Ltd., Büscherhoff Spezialverpackung GmbH & Co. KG, RDA Bulk Packaging Ltd., Gaoqing Anthente Container Package Company Limited, Ven Pack, Heritage B B.V., Schoeller Arca Systems Holding B.V.
Intermediate Bulk Container Market 2024 Key Insights:
• The intermediate bulk container market size is expected to see rapid growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
• Wine Trade Boom Drives Surge In Intermediate Bulk Container Market
• Addressing Growing Demand For Sustainable Packaging Solutions
• North America was the largest region in the intermediate bulk container market in 2023
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