Industrial bulk packaging is a packaging of heavy industrial goods in order to protect them from damages and contamination. Industrial bulk packaging is widely done across various manufacturing facilities such as food & beverages, chemicals & petrochemicals, and pharmaceuticals. On the basis of packaging type, they are classified into drums, pails, and jerry cans.
Mexico industrial bulk packaging market was valued at US$ 613.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.04 % during the forecast period (2022 to 2030).
Drivers
Growth in the pharmaceutical industry in Mexico is primarily fueling the market growth of the industrial bulk packaging. They are widely used in the storage of medical devices and other pharmaceutical products. Growing demand for plastic-based packaging products such as drums in the country is also anticipated to augment the market growth of the industrial bulk packaging over the forecast period.
The increasing export of food & agriculture products in Mexico is expected to propel the market growth of industrial bulk packaging. According to the International Trade Administration, Mexico became the U.S.’ second-largest agricultural partner in 2018. U.S. agricultural and related product exports to Mexico totaled US$ 19 billion with overall bilateral agricultural trade of US$ 45 billion. Moreover, Mexico was the top export destination for corn, wheat, and rice by volume in 2018.
Figure 1. Mexico Industrial Bulk Packaging Market Value Share (%), By Product Type, 2021
Market Restraints
The high cost of logistics and poor road infrastructure in Mexico is projected to restrict the market growth of the industrial bulk packaging.
Strict rules and regulations on industrial packaging for direct food contact and healthcare products is expected to curb the market growth. Also, strict regulations on the use of volatile organic compounds are further expected to limit Mexico industrial bulk packaging market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 613.00 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 6.04 % | Forecast Period: | 2022-2030 |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Mauser Group B.V., Greif, Inc., International Paper Company, Hoover Container Solutions, Inc., Menasha Corporation, Cleveland Steel Container Corporation, and Composite Containers LLC |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Market Trends
Increasing wine trade in Mexico, owing to the increasing consumption of wine around the globe, is a major trend in the market. Rapidly growing population coupled with increasing disposable income and changing spending patterns is creating demand for various consumer goods. Moreover, the growing transportation of minerals and semi-finished products is also expected to propel the market growth of Mexico industrial bulk packaging.
Merger and acquisition by key manufacturers for business expansion is a growing trend in the market. This trend is expected to spur the market growth of the Mexico industrial bulk packaging. For instance, in April 2018, ORBIS Corporation, a provider of reusable packaging and part of Menasha Corporation, acquired Response Packaging, headquartered in Piedmont, South Carolina. Response Packaging has 245 employees in the U.S. and Mexico and serves the automotive and industrial markets.
Figure 2. Global Mexico Industrial Bulk Packaging Market value Share (%), By Application, 2021
By application, the Chemicals & Petrochemicals segment held a dominant position in Mexico industrial bulk packaging market in 2021, accounting for 64.6% share in terms of value, followed by Food & Beverage and Pharmaceuticals segments. The massive growth of chemicals and petrochemicals industry in Mexico is expected to propel the sales of industrial bulk packaging during the forecast period. Drums, pails, and industrial bulk containers are mostly preferred packaging solutions among the chemical manufacturing companies.
Recent Developments
Competitive Section
Major players operating in the Mexico industrial bulk packaging market include Mauser Group B.V., Greif, Inc., International Paper Company, Hoover Container Solutions, Inc., Menasha Corporation, Cleveland Steel Container Corporation, and Composite Containers LLC.
The Mexican economy has grown rapidly for the past couple of years, making Mexico a great place to do business. An increase in the international shipment of products into the country and rapid industrial development have caused a significant need for industrial bulk packaging in this country. This market is very competitive, as there are so many companies in Mexico offering the same types of services. Therefore, it becomes necessary for businesses to do a little bit of research to ensure they get the best package. One way that businesses are finding out which companies offer the best service and quality for their money is to ask to see samples of their work. Companies that have done numerous consultations and have delivered excellent packages with no complaints are often a good place to start.
Market Dynamics
Launch of new products is expected to propel growth of Mexico industrial bulk packaging market over the forecast period. For instance, in January 2021, Mauser Packaging Solutions launched KORTRAX barrier tight-head container, expanding its portfolio of tight-head containers.
Mexico industrial bulk packaging market is witnessing a rise in the cost of products. For instance, in August 2021, Greif, Inc. announced to implement a US$ 70 per ton price increase for all grades of uncoated recycled paperboard and an 8.5% increase on all tube and core and protective packaging products.
Key features of the study:
Detailed Segmentation:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients