The latest research study “Flexible Intermediate Bulk Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“.The global flexible intermediate bulk container market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Global Flexible Intermediate Bulk Container Industry Definition and Application:
Four-panel, circular, u-panel, and baffle bags are some of the commonly used FIBCs. These bags are lightweight, environment friendly, and recyclable and can be easily transported with the assistance of a pallet jack or forklift. FIBCs are widely used to contain toxic, free-flowing and non-toxic products, such as petrochemicals, rubber, agriculture, and chemical products. As a result, FIBCs find extensive applications across the transportation, mining, manufacturing, agriculture and waste-handling industries.
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Flexible Intermediate Bulk Container Market Trends:
Significant growth in the agriculture industry across the globe is creating a positive outlook for the market. In line with this, FIBCsare widely adopted to handle grains, rice, potatoes, cereals, sand, and liquid chemicals, thus supporting the market growth. Additionally, the widespread product adoption in the pharmaceutical industry for storing various medical products while preventing contamination is favoring the market growth. Apart from this, the introduction of electronic tagging of FICB that assists in providing relevant information regarding the reusability, safety, and traceability of the item and helps reduce loss and damage of products are providing an impetus to the market growth.
Moreover, the rising environmental consciousness among the masses has facilitated the demand for biodegradable and lightweight bulk packaging solutions, such as FICB, for various industrial applications, which, in turn, is augmenting the market growth. Besides this, various product innovations, such as the employment of virgin polypropylene resins as a key raw material due to an enhanced focus on hygiene,are positively impacting the market growth. Other factors, including the increasing product utilization to transport construction materials and the rising need to reduce the overall weight of bulk packaging, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.1 Billion by 2028, growing at a CAGR of 5.1% during 2023-2028.
Flexible Intermediate Bulk Container Market Segmentation:
The report has segmented the market on the basis on region, product and end use industry.
Breakup by Product:
- Type A
- Type B
- Type C
- Type D
Breakup by End-Use Industry:
- Food
- Chemicals
- Pharmaceuticals
- Others
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,Others)
- Middle East and Africa
Who are the Major Flexible Intermediate Bulk Container Market Key players?
- 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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