Asia-Pacific Rigid Bulk Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 32.91 Billion |
| Market Size (2029) | USD 39.05 Billion |
| CAGR (2024 - 2029) | 3.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Rigid Bulk Packaging Market Analysis
The Asia-Pacific Rigid Bulk Packaging Market size is estimated at USD 32.91 billion in 2024, and is expected to reach USD 39.05 billion by 2029, growing at a CAGR of 3.67% during the forecast period (2024-2029).
- Asia-Pacific sums up to 60% of the total global population. China and India are among the fastest-growing countries in the world. Moreover, Asia's economy and industries are constantly changing. The rapid growth of population and emerging economies drives the Asia-Pacific's rigid bulk packaging. This has increased demand for various industrial products such as food & beverages, pharmaceuticals, and chemicals.
- Asia-Pacific is the world’s largest regional chemical market by volume. The market's growth can be attributed to several factors, including the increasing construction activity in the region and the growing investment in the infrastructure sector. The upcoming construction and the growing foreign direct investment (FDI) in India and Southeast Asia are expected to contribute to the market's growth. With the upswing in construction and infrastructural activity, there would be a proportional demand for bulk containers, drums, and pails for chemicals, paints, and other materials across the region.
- The pharmaceutical packaging industry has been experiencing substantial growth for several years. Due to innovations and emerging treatments, there is room for further growth in this section of the pharma industry. The COVID-19 pandemic brought a new awareness of the need to package and distribute products efficiently. Rigid bulk packaging is one of the most commonly used packaging types for volatile, highly reactive, and delicate products. Their growth in the pharmaceutical industry would be attributed to the rigid-bulk packaging market across the region.
- The federal government across the region is constantly implementing stringent guidelines for the environmental sustainability and recyclability of packaging material. However, the market's growth has been a major challenge due to the recycling and environmental concerns related to industrial bulk packaging.
- Further, Japan's fast-growing food & beverage industry, combined with the country’s high rate of manufacturing and distribution of intermediate bulk container liners, would contribute to the growth of the intermediate bulk containers in the market. According to Nikkei Asia's report in February 2023, as stated by the government, Japan’s food exports reached a record high of USD 10.9 billion in 2022, attaining the economic recovery from the COVID-19 pandemic.
Asia-Pacific Rigid Bulk Packaging Market Trends
Demand From the Pharmaceutical and Chemical Industry is Expected to Drive the Market
- The demand for pharmaceutical packaging is majorly emerging from densely populated economies like India and China. The increasing pharmaceutical production in these countries has been further boosting the demand. Chemical and pharmaceutical manufacturers demand lightweight and cost-effective yet durable packaging solutions for all their liquid bulk packaging needs to strengthen their manufacturing and production capabilities across the supply chain. Rigid bulk packaging products such as industrial drums play significant applications in the chemical and pharmaceutical sectors.
- India is actively upgrading its pharmaceutical packaging facilities, and the pharmaceutical exports in India reached USD 25.4 billion from April 2022 to March 2023, a year-on-year (YoY) growth of nearly three percent, according to Pharmaceuticals Export Promotion Council of India (PHARMEXCIL). Also, pharmaceutical exports are expected to be around USD 28 billion in the financial year 2023-24. As IBCs and other bulk containers are used extensively in the pharmaceutical industry for storage and transportation, the growth in the pharmaceutical industry would proportionately increase the demand for rigid bulk packaging in the country.
- Hazardous chemicals must be shipped carefully to ensure traceability of both chemicals and containers, minimize loss of assets, and ensure compliance with all legal container requirements. The rigid plastic intermediate bulk containers (IBCs) and steel or plastic drums are widely used for chemical transportation and, therefore, would witness a robust demand across the region.
- According to the Atradius report, based on year-on-year (YoY) percentage change in chemicals output across world regions. Asia-Pacific (APAC) is expected to maintain relatively high growth rates in 2023. In contrast, the Americas may have a lower percentage change year-on-year (YoY) as chemical production in the region is expected to decrease in 2023.
- Furthermore, there is a significant technological advancement in the industrial rigid bulk packaging segment in countries like China, India, Japan, and South Korea. Several manufacturers developing IBCs that are electronically tagged or (Radio Frequency Identification) RFID labeled could give them the traceability they need and reduce the cost of lost or damaged IBCs.
India Is Expected To Hold a Significant Share in the Market
- An economy's development level can be measured by its infrastructure. Construction activities account for more than 10% of India's annual Gross Domestic Product (GDP) and are one of the largest sectors across the country. The government of India is actively working to stimulate construction activities. Therefore, the government of India has forecasted very high investment needs to provide infrastructure to define standards and promote growth. Healthy growth in the country's construction sector is expected to be attributed to the demand for rigid bulk containers, drums, and pails nationwide.
- Industrial drums are widely used for packaging chemicals, fertilizers, and petroleum lubricants. The steel and plastic drums are used in the chemical industry. Consequently, the market is witnessing various expansions to increase production capabilities.
- Industrial drums offer cost-effective transport packaging solutions to ship hazardous and non-hazardous materials, like chemicals, wines, and fruit juices. As stated by the Directorate General of Commercial Intelligence and Statistics (DGCI&S) report, processed fruits and juices have seen a steady rise in value since the fiscal year 2020.
- The country's processed juices exports amounted to USD 695.44 million in 2021 and is anticipated to increase to USD 908.09 million in 2023. Drums allow higher operational efficiency and effectiveness in bulk quantities of liquid commodities. Therefore, this growth in processed fruit juice export implies a robust demand for industrial drums nationwide.
Asia-Pacific Rigid Bulk Packaging Industry Overview
The Asia-Pacific rigid bulk packaging market is moderately competitive, with the presence of major players like SCHUTZ Container Systems (Shanghai) Co. Ltd, Greif Inc., Pyramid Technoplast Ltd, Kodama Plastics Co. Ltd, and more in the market. Additionally, the other major players in the packaging market are adopting acquisition and partnership strategies to enter the market and grow their offerings.
- In May 2023, TPL Plastech unveiled its state-of-the-art Industrial Packaging manufacturing plant at Dahej in Gujarat; the company is diversifying its Industrial Packaging products portfolio and entering the Intermediate Bulk Container (IBC) manufacturing market. As industrial demand in the region continues to grow rapidly, the facility will be able to serve both existing and new customers.
- March 2023 - To address the global demand for industrial packaging growing rapidly, Mauser Packaging Solutions announced the continuation of its expansion in China by opening a new high-tech manufacturing site near Shanghai, China’s Economic Development Zone (Haiyan). The new site will meet both current and future market demands. The facility increases the production capacity of plastic drums used in the chemical, petroleum, paints, food and beverages, and petrochemical industries.
Asia-Pacific Rigid Bulk Packaging Market Leaders
-
Greif Inc.
-
Pyramid Technoplast Ltd
-
Mauser Packaging Solutions
-
SCHUTZ Container Systems (Shanghai) Co. Ltd
-
Kodama Plastics Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Rigid Bulk Packaging Market News
- May 2023: Berry Global launched the construction of a new manufacturing facility and Global Centre of Excellence (COPE) in India. The new facility was to receive accreditation for the ISCC (International Sustainability & Carbon Certificate) Plus, which was expected to enable Berry Global to market healthcare clients’ approved packaging and rigid plastic components and to support a circular economy approach based on improved recycling and mass balancing.
- May 2023: Lyondell Basell and Shakti Plastic Industries entered a strategic partnership to create an automatic plastic recycling facility in India. The plant is expected to be able to handle rigid packaging waste from post-consumer use and will be able to produce around 55,000 tons/year of recycled polyester and polypropylene. This would make the facility India's biggest mechanical rigid plastic recycling plant when it starts up around the end of 2024.
Asia-Pacific Rigid Bulk Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Dynamics
4.4.1 Market Drivers
4.4.1.1 Consisting Rise in the Construction Activities in the Asia Pacific Region
4.4.1.2 Robust Demand from the Pharmaceutical, Food and Beverage Sector
4.4.2 Market Restraints
4.4.2.1 Concerns Related To Recycling of Industrial Bulk Packaging
5. MARKET SEGMENTATION
5.1 By Material
5.1.1 Plastic
5.1.2 Metal
5.1.3 Wood
5.1.4 Other Materials
5.2 By Product
5.2.1 Industrial Bulk Containers
5.2.2 Drums
5.2.3 Pails
5.2.4 Bulk Boxes
5.2.5 Other Bulk Containers
5.3 By End-user Industry
5.3.1 Food
5.3.2 Beverage
5.3.3 Industrial
5.3.4 Pharmaceutical and Chemical
5.3.5 Other End-user Industries
5.4 By Country
5.4.1 India
5.4.2 China
5.4.3 Japan
5.4.4 Australia
5.4.5 Rest of Asia Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 SCHUTZ Container Systems (Shanghai) Co., Ltd.
6.1.2 Pyramid Technoplast Ltd
6.1.3 Kodama Plastics Co Ltd
6.1.4 Greif Inc.
6.1.5 Mauser Packaging Solutions
6.1.6 Manock Industry Co., LTD
6.1.7 Multipac Pty. Ltd.
6.1.8 ABCD Drums & Barrels Industries
6.1.9 Industrial Engineering Corporation.
6.1.10 Yangzhou United Packaging Co., Ltd
6.1.11 Exel Plastech Co. Ltd.
6.1.12 Time Technoplast Ltd
6.1.13 TPL Plastech Limited
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Rigid Bulk Packaging Industry Segmentation
Rigid bulk packaging is a high-strength packaging solution mainly used in packaging products that are sensitive and perishable. The global market for rigid bulk packaging is expected to grow due to the increasing demand from the chemical, pharmaceutical, and food & beverages industries. The demand for reusable bulk packaging is also increasing due to the cost-effectiveness of reusable bulk containers compared to smaller containers.
Asia-Pacific rigid bulk packaging market is segmented by material (plastic, metal, wood, and other materials), by product (industrial bulk containers, drums, pails, bulk boxes, and other bulk containers), and by end-user industry (food, beverage, industrial, pharmaceutical, chemical, and other end-user industries), and by country (China, India, Japan, Australia and Rest of Asia Pacific). The market sizes and forecasts are provided in terms of value USD for all the above segments.
| By Material | |
| Plastic | |
| Metal | |
| Wood | |
| Other Materials |
| By Product | |
| Industrial Bulk Containers | |
| Drums | |
| Pails | |
| Bulk Boxes | |
| Other Bulk Containers |
| By End-user Industry | |
| Food | |
| Beverage | |
| Industrial | |
| Pharmaceutical and Chemical | |
| Other End-user Industries |
| By Country | |
| India | |
| China | |
| Japan | |
| Australia | |
| Rest of Asia Pacific |
Asia-Pacific Rigid Bulk Packaging Market Research FAQs
How big is the Asia-Pacific Rigid Bulk Packaging Market?
The Asia-Pacific Rigid Bulk Packaging Market size is expected to reach USD 32.91 billion in 2024 and grow at a CAGR of 3.67% to reach USD 39.05 billion by 2029.
What is the current Asia-Pacific Rigid Bulk Packaging Market size?
In 2024, the Asia-Pacific Rigid Bulk Packaging Market size is expected to reach USD 32.91 billion.
Who are the key players in Asia-Pacific Rigid Bulk Packaging Market?
Greif Inc., Pyramid Technoplast Ltd, Mauser Packaging Solutions, SCHUTZ Container Systems (Shanghai) Co. Ltd and Kodama Plastics Co. Ltd are the major companies operating in the Asia-Pacific Rigid Bulk Packaging Market.
What years does this Asia-Pacific Rigid Bulk Packaging Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Rigid Bulk Packaging Market size was estimated at USD 31.70 billion. The report covers the Asia-Pacific Rigid Bulk Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Rigid Bulk Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Rigid Bulk Packaging Industry Report
Statistics for the 2024 Asia-Pacific Rigid Bulk Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Rigid Bulk Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
