IMARC Group, a leading market research company, has recently releases report titled “Flexible Intermediate Bulk Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global flexible intermediate bulk container market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the flexible intermediate bulk container market?
|Market Size in 2022||US$ 5.2 Billion|
|Market Forecast in 2028||US$ 7.1 Billion|
|Growth rate (2023 to 2028)||CAGR of 5.1%|
|Base Year of the Analysis||2022|
What is the flexible intermediate bulk container?
Flexible intermediate bulk containers (FIBC), also known as bulk bags, are industrial packaging containers produced using flexible and foldable fabric materials woven together. Some commonly known FIBCs include four-panel, U-panel, circular, and baffle bags, which can hold non-toxic, toxic, and free-flowing products such as pharmaceuticals, rubber, agriculture, chemicals, petrochemicals, and food products. They are cubic, large, foldable containers produced using uncoated or coated woven fabric with loops for easy movement and storage and are employed for granular, dry, and semi-liquid products. As a result, FIBCs are extensively applied in mining, manufacturing, agriculture, waste handling, and transportation industries.
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What are the growth prospects and trends in the flexible intermediate bulk container industry?
The market is primarily driven by the expanding agricultural industry with the rising demand for FIBCs to handle potatoes, grains, cereals, and rice globally. In addition, the increasing product demand in the building and construction activities and chemical sectors for handling sand, cement, carbon black, steel, minerals, alloys, and polyethylene terephthalate (PET) is contributing to the market growth. Moreover, the introduction of electronic tagging of FICB, which offer relevant information on the safety, reusability, and traceability of items while minimizing product damage and loss, represents another major growth-inducing factor.
Besides this, the growing environmental awareness among individuals and the escalating demand for biodegradable, lightweight, and bulk packaging material to store numerous medical products and prevent contamination is accelerating the product adoption rate. Furthermore, the development of food-grade FIBC bags produced using virgin polypropylene resins that are suited for storing packaged products in bulk quantities and help to prevent spoilage of perishable goods is also propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Type A
- Type B
- Type C
- Type D
Breakup by End Use Industry:
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
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Who are the key players operating in the industry?
The report covers the major market players including:
- Bag Corp.
- Berry Global Inc.
- Bulk Lift International LLC
- Global-Pak Inc.
- Greif Inc.
- Isbir Sentetik Dokuma Sanayi A.S.
- Langston Companies Inc.
- LC Packaging International BV
- Plastipak Group
- Rishi FIBC Solutions PVT. Ltd.
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