Yahoo Finance Global Bulk Insulated Containers Market to See Major Growth of USD 1573.72 Million By 2030
The comprehensive detailing of the market trends, historical figures, and latest developments all cover the breakdown data of the Bulk Insulated Containers Market, also provides a complete analysis of top market participants based on many areas of the businesses.
Newark, NJ, May 24, 2022 (GLOBE NEWSWIRE) -- As per the report published by MarketQuest.biz, the global bulk insulated containers market is expected to grow from USD 856 million in 2021 to USD 1573.72 million by 2030, at a CAGR of 7% during the forecast period 2022-2030.
Rapid urbanization and increasing disposable income of the population have led to the rising demand for consumer goods. The increased internet penetration and the e-commerce boom have further fueled this demand. This demand has created an urgency to have safe and secure packaging systems installed to handle the rising demand surge and ensure efficient product delivery. The increasing health concerns due to the pandemic have reinforced the focus on the hygiene and sanitation of products. The bulk insulated containers are ideal for transporting temperature-sensitive products without any spillage while maintaining their integrity, safety, and hygiene. The enclosed nature of transportation and ease of handling will significantly contribute to the market's growth. The growing applications of bulk insulated containers in consumer goods, pharmaceuticals, chemicals, food & beverages, and automotive, combined with new product innovations, will provide lucrative opportunities for the market. However, stringent regulatory guidelines about environmental sustainability governing the manufacture of bulk insulated containers could hamper the market's growth. The use of bio-plastic to produce bulk insulated containers can aid the market players in overcoming the regulatory challenge of environmental compliance.
Competitive Strategy
To enhance their market position in the global bulk insulated containers market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Frosty Binz, LLC recently (2022) announced the release of its Insulated Reflective Cover for Bulk Containers and Harvest Bins. The reusable lightweight cover reflects the sun's solar radiation, keeping the produce cool and reducing moisture loss.
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Market Growth & Trends
The massive population of China and India is driving the consumer demand in the market for various goods ranging from automotive, consumer goods, and pharmaceuticals. The upsurge in demand is significantly witnessed in the food and beverage industry, packaged goods, and chemicals. These industries transport temperature-sensitive goods which require air-tight shipment material. Adopting bulk insulated containers to transport such products is ideal as it ensures the safe and secure transfer of these products. Bulk insulated containers are also compatible with large shipment orders. They are easy to handle, and the recyclable nature of bulk insulated containers makes them an environmentally sustainable and cost-effective packaging solution. Government regulations mandating sustainable bio-plastics combined with the development of ecologically sustainable bulk insulated containers by market players will significantly drive the global bulk insulated market during the forecast period.
Key Findings
In 2021, the plastic segment dominated the market with the largest market share of 58%.
The type segment is divided into plastic and metal. In 2021, the plastic segment dominated the market with the largest market share of 58%.
In 2021, the consumer goods segment accounted for the largest share of the market, with 39% and a market revenue of 613.86 million.
The application segment is divided into automotive, chemicals, food & beverages, consumer goods, and others. In 2021, the consumer goods segment accounted for the largest share of the market, with 39% and a market revenue of 613.86 million.
Regional Segment Analysis of the Bulk Insulated Containers Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region emerged as the largest market for the global bulk insulated containers market, with a market share of around 35% and 550.90 million of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The bulk insulated containers in the Asia Pacific have been expanding rapidly. China dominates the bulk insulated containers in the Asia Pacific. The rising consumer demand for packaged food will drive the Asia Pacific bulk insulated container market. The Asia Pacific will continue its domination during the forecast period as major market players in manufacturing & FMCG are shifting units to this region due to the increasing ease of doing business. The extensive pharmaceutical industry of India will provide a significant market for the bulk insulated containers as chemicals and drugs in the pharma industry need specialized packaging solutions capable of handling temperature-sensitive materials.
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Key players operating in the global bulk insulated containers market are:
Containers Direct Ltd.
Daco Corporation
Saeplast Americas Inc.
Berlin Packaging LLC
Fach Pak
Loboy
Bonar Plastics Ltd.
ThermoSafe
Gateway Containers International Limited Company
Port Containers LLC
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Market Quest has segmented the global bulk insulated containers market based on the below-mentioned segments:
Global Bulk Insulated Containers Market by Type:
Plastic
Metal
Global Bulk Insulated Containers Market by Application:
Food & Beverages
Chemicals
Consumer Goods
Automotive
Others
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About the report:
The global bulk insulated containers market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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