North America Rigid Bulk Packaging Market Size

North America Rigid Bulk Packaging Market Analysis

The North America Rigid Bulk Packaging Market size is estimated at USD 31.40 billion in 2024, and is expected to reach USD 35.39 billion by 2029, growing at a CAGR of 2.42% during the forecast period (2024-2029).

• North America is the biggest industrialized region in the world. The United States of America and Canada mainly dominate the industrial production of North America. Manufacturers of chemical and pharmaceutical products are looking for lightweight, cost-effective, yet durable packaging solutions to meet all of their liquid bulk packaging requirements to enhance their manufacturing and production capacities across the entire supply chain.
• The North American market for rigid bulk packaging is driven by a number of factors, including the growing demand from the pharmaceutical, food, and beverages industries for rigid bulk packaging and the growing need to strengthen supply chain capabilities amongst end-users. According to the Canadian Agri-Food Trade Alliance, Canada's favorable agri-food conditions make it possible to produce far more food than the country's population needs; thereby, the agri-food industry is mainly export-oriented.
• Rigid bulk packaging products, such as industrial drums, play an important role in chemical and pharmaceutical. According to the American Chemistry Council, the production volume of the chemical industry in the United States was projected to grow by 4.3% in 2022, recovering from a decrease in production in 2020 due to COVID-19. This growth must have bolstered the market of rigid bulk packaging during the past years.
• However, rigid bulk packaging is facing challenges from more flexible and eco-friendly packaging designs. Also, developed countries like the United States and Canada have passed several anti-plastic legislative guidelines to encourage sustainable and reusable packaging across the region. This may dent the market for rigid bulk plastic packaging in the region for the period going forward.
• Intermediate bulk containers are a widely used shipping and storage container option in various industries due to the variability of the containers' designs and sizes at different price points. Moreover, the aggressive growth of the food industry in North America has directly affected the increased use of safe agrochemicals for the production and growth of crops. As per the United States Department of Agriculture, the United States' agricultural exports were valued at USD 196.4 billion in 2023, up from USD 171.7 billion in 2022. This growth has driven the ancillary demand for agrochemical packaging by large industrial producers who are largely dependent on intermediate bulk containers.