The Flexible Intermediate Bulk Container (FIBC) market size was valued at US$ 7.63 billion in 2023 and is predicted to reach USD 12.93 billion by 2033, representing CAGR of 5.42% from 2024 to 2033. The rising demand for new-edge packaging materials for the transportation of different types of products is driving the growth of the FIBC market.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5200
Key Takeaways
- Asia Pacific led the FIBC market in 2023.
- North America is expecting considerable growth during the forecast period.
- By capacity, the above 750kgs segment dominated the market in 2023.
- By packaging type, the Q-bags segment dominated the market in 2023.
- By end-user, the chemical & fertilizers segment is the major consumer of the FIBCs.
FIBC, also known as the flexible intermediate bulk container, is a large bulk container or sack that is used to store or transport various types of products or materials. FIBC bags are the cost-effective solution to the expensive shipping or transporting of materials such as plastic and wooden pallets and containers. The flexible intermediate bulk containers are made from a variety of materials, and the increasing demand for efficient and cost-effective packaging solutions from a wide range of end-use industries is driving the growth of the FIBC market. FIBC has various properties such as durability, environment friendliness, practicality, and reusability that make it the ideal choice for a sustainable packaging solution. These types of bags come in different shapes and sizes as per the requirements of industries and can carry weight loads up to 5000 pounds per bag.
There are different names used for the FIBC bags, such as bulk bags, bulk sacks, super sacks, bulk totes, big bags, jumbo totes, super bags, one-ton bags, and others. There are different types of bags used in different industrial applications based on the weight and size of the product. FIBC bags are generally made from polypropylene, which is a flexible, soft, and lightweight thermoplastic material that makes them durable and have a long lifespan. The global packaging market size is growing at a 3.16% CAGR between 2023 and 2032.
Growth Factors
- The rising industrialization all around the world and the increasing demand for efficient packaging solutions for a variety of products and materials for safer storage and transport activities are driving the growth of the FIBC market.
- The rise of the national and international supply chain for transporting various materials, components, and other products from various industries, such as food and beverages, chemicals and materials, healthcare, construction, consumer goods, and other end-use industries, is contributing to the growth of the FIBC market.
- FIBC, a flexible intermediate bulk container, is an effective packaging solution that can store or transport any kind of material, such as liquid chemicals or solid materials, from the manufacturing unit to its required destination.
- The rising international trade of industries like pharmaceuticals, chemicals, and food and beverages products such as medicines, food items, liquid chemicals, and other materials to other countries with the minimized risk of losses and spoilage is accelerating the adoption of FIBCs for transportation.
- FIBC, a flexible intermediate bulk container, is 100% made from food-grade material, which makes it the preferred packaging material for industrial products like food and beverages, healthcare, and pharmaceutical products.
- FIBC packaging is made from several types of materials that make it easy and lightweight to handle. It is also durable and has a long lifecycle, which makes it lower in maintenance. All these properties are driving the adoption of FIBCs by several end-use industries.
Market Dynamics
Driver
Rise in the e-commerce industry
The rapid development of the e-commerce industry globally is contributing significantly to the expansion of the market. The rising disposable income in the population and lifestyle standards are driving the consumer goods industry that is fueling the e-commerce industry. The increase in the e-commerce industry and consumer goods is accelerating the demand for the cost-effective and robust packaging solution that drives the adoption of the FIBC market.
Restraint
Quality issues
The degradation of bag quality presents a significant obstacle to the growth of the FIBC market. This issue can arise due to various factors, such as environmental conditions, rough handling during transportation, and inadequate material selection. Quality degradation not only affects the durability and reusability of the bags but also jeopardizes the safety of goods during transit. To address this challenge, manufacturers must focus on utilizing high-quality materials, implementing stringent quality control measures, and educating users about proper handling and storage practices. By emphasizing these strategies, the FIBC market can overcome the hurdle of quality degradation and ensure a more sustainable and reliable packaging solution.
Opportunity
Rising international trades
The increasing international trade of various products from one country to another. The rising economic development in several countries is driving the import and export trades, which drives the demand for packaging solutions for products of different sizes and weights, which drives the adoption of FIBCs. Thus, the rising international trade is driving the opportunities in the growth of the FIBC market.
Report Highlights
Capacity Insights
The above 750kgs segment dominated the FIBC market in 2023. The FIBC bags come in different shapes and sizes for different industrial applications and packaging solutions. FIBC bags come in various capacities that include up to 250 kg, 250 kg – 750 kg, and above 750 kg. The 750 kg category is considered the preferred choice by several end-use industries, especially the chemical and construction industries. The 750 kg bulk bags have enough space and capacity for storage of heavy materials with durable made-up material. The 750 kg bulk bags are considerably used by various end-use industries for transporting products like construction materials, equipment, chemical materials like petroleum products, and other laboratory chemicals. The use of 750 kg bulk bags is highly adopted by several industries due to its consumer’s very little space for storing as per their weight. They are the most cost-effective medium for transporting and storing products compared to other traditional packaging solutions.
Buy Premium Global Insight: https://www.towardspackaging.com/price/5200
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/