Mexico Industrial Bulk Packaging Market is estimated to be valued at US$ 643.0 Million in 2022 according to the Mexico Industrial Bulk Packaging Market report, By Product Type (drums, IBC, Pails, and Jerry Cans) and By Application (Chemicals & Petrochemicals, Food & Beverages, Pharmaceuticals, and Others), published by Coherent Market Insights.
Mexico Industrial Bulk Packaging Market was valued at US$ 643.0 Million in 2022. Mexico industrial bulk packaging market is expected to register a CAGR of 6.7 % over the forecast period (2023–2030), to reach US$ 2058.2 Million by 2030.
Industrial bulk packaging refers to the packaging of industrial materials that are heavy and sensitive to environmental factors such as moisture and dust. Thus, it is necessary to conserve goods in order to increase their shelf-life and protect them from degradation. Industrial bulk packaging also enables easy transportation while preventing the product from contamination.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/mexico-industrial-bulk-packaging-market-4707
Key Trends and Analysis of Mexico Industrial Bulk Packaging Market:
- Smaller types of industrial bulk packing products are gaining traction in the market. Small containers are widely used in the pharmaceutical industry. Pails are the most preferred product among smaller formats of industrial bulk packaging products. Thus, the market growth is attributed to the expansion of the pharmaceutical industry due to increasing investment by the government in Mexico. Hence, the growing demand for smaller formats of industrial bulk packing products is expected to fuel market growth.
- Product innovation by key players for regional as well as global expansion is a major trend in the market. This trend is expected to augment the market growth. In September 2020, Mauser Packaging Solutions, a company that provides large and small metal, plastic, fiber, and hybrid packaging to companies in industries such as food & beverage, personal care, pharmaceuticals, chemicals, petrochemicals, agrochemicals, and paints, acquired EuroVeneta Fusti, through Joint Venture NCG-Maider, in Italy. This acquisition is expected to expand the company’s presence in Italy and extend the offering of current plastic industrial packaging as well as steel drum packaging and reconditioning IBC services within the Italy market.
Key Takeaways of Mexico Industrial Bulk Packaging Market:
- Mexico industrial bulk packaging market was valued at US$ 643.0 Million in 2022. Mexico industrial bulk packaging market is expected to register a CAGR of 6.7% over the forecast period (2023–2030), to reach US$ 1080.0 Million by 2030.
- New product launches, mergers & acquisitions, strategic partnerships, expansion, and research & development activities for Mexico industrial bulk packaging market are key strategies adopted by players in Mexico industrial bulk packaging market. For instance, in 2021, Mexico is projected to increase imports of packaging machinery and equipment by 15% from the world, with a 9% increase from the U.S. This growth will likely be driven in large part by the reactivation of the Mexican economy after the COVID-19 pandemic subsides.
