Market Analysis
The Bulk Packaging Market for cosmetic industry will touch USD 12,060.0 million at a healthy 7.15% CAGR between the forecast period 2021- 2027, according to the new Market Research Future (MRFR) analysis. A bulk container/packaging is designed for storing and transporting bulk liquid and granulated substances like pharmaceuticals, chemicals, solvents, and ingredients among others in huge quantities. Such packages are transported in different vehicles from super long monster truck trailers to humongous cargo ships.
Various factors are fuelling the global bulk packaging market for cosmetic industry size. According to the recent MRFR market estimates, such factors include the popularity of the cosmetic sector, the need to uphold safe storage and transportation of cosmetics, upsurge in hair care, baby care, and skin care products, the booming pharmaceutical industry, growing demand for plastic-based packaging products like drums and pails, increasing consumption of plastic drums for industrial packaging applications, growing popularity of flexible intermediate bulk containers, increasing need from chemical and food and beverage industry, rising wine trade across the world, rising edible oil export in Southeast Asia, and superior flexitank characteristics.
On the contrary, fluctuating petrochemical prices and negative impact of the COVID-19 pandemic, may limit the global bulk packaging market growth over the forecast period.
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Segmental Analysis
The segmental study of the bulk packaging market for cosmetics industry has been segmented on the basis of material, region, and product. Based on the product, the bulk packaging market for cosmetics industry has been segmented into material handling containers, drums, pails, bulk boxes, shipping sacks, and others. The pails segment is anticipated to capture the prime market share owing to their performance and expenditure advantages in small volume applications. Based on the material, the bulk packaging market for cosmetics industry has been segmented into metal, paper & paperboard, plastic, and others. The plastic segment controls the market owing to the range of benefits linked with the material over steel drums in terms of cost, mass, and corrosion resistance. By regions, the bulk packaging market for cosmetics industry has been segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the regions.
Regional Takeaway
By region, the global bulk packaging market for cosmetic industry covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will remain the driving force in the market over the forecast period. The expanding product lines for cosmetic products based on e-retailing and affordability, rise in consumers disposable income, and growth in the number of manufacturing facilities for cosmetics are adding to the global bulk packaging market for cosmetic industry growth in the region. Besides, rising population in India and China, and upgrading consumer lifestyles are also adding market growth.
The bulk packaging market for cosmetic industry in Europe is predicted to hold the second-largest share over the forecast period. Booming pharmaceutical industry, the presence of geriatric population, demand for various forms of cosmetics, increasing production of cosmetics, and increasing disposable income are adding to the global bulk packaging market for cosmetic industry growth in the region.
The bulk packaging market for cosmetic industry in North America is predicted to have healthy growth over the forecast period. Growing demand for cosmetics, increase in purchasing behavior, and rising population are adding to the global bulk packaging market for cosmetic industry growth in the region.
Competitive Analysis
The competitors present in the market are recalibrating their market share to open up new areas of development in the market. The prospects for growth in the market have to be carefully sought out and examined to ensure that they will ensure the favorable development of the market in the coming period. The stress on enhancing the production potential and upgradation of the workforce are the top priorities to reinvigorate the development potential of the market in the coming period. The establishment of robust distribution channels is estimated to define the development of the market in the future. The investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion. The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy. The road to the resurgence of the market is estimated to be extended and arduous due to the degree of the setbacks it has suffered.
The notable companies in the global bulk packaging market for cosmetics industry are BWAY Corporation (Georgia), Berry Global Inc. (US), Schoeller Allibert (Netherlands), Georgia-Pacific (US), Greif (US), REMCON Plastics Inc. (US), Menasha Corporation (US), Rehrig Pacific Company (US), and Westrock Company (US) to name a few.
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