Flexible Intermediate Bulk Containers Market Size, Share, Growth, and Industry Analysis by Type (Type A FIBCs, Type B FIBCs, Type C FIBCs, Type D FIBCs‎), by Application (Food Products, Chemicals, Pharmaceuticals, Other), and Regional Insights and Forecast To 2031

Updated On: 29 April 2024

FLEXIBLE INTERMEDIATE BULK CONTAINERS MARKET REPORT OVERVIEW

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The global flexible intermediate bulk containers market size was USD 6701.5 million in 2022 and will touch USD 9109.7 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.

Flexible intermediate bulk containers are industrial packaging materials operated for firmly packing dry, coarse and semi-liquid products. They are huge cubic, flexible containers manufactured using covered or uncoated woven material with loops to facilitate appropriate storage and movement. These bags are used to comprise poisonous, non-hazardous and free-flowing products such as chemicals, petrochemicals, medicines, rubber and food production and foodstuff products. The augmented consumption of several products such as nutrition products, personal care products, and consumer goods due to the upsurge in inhabitants and an increase in development will ease the flexible intermediate bulk container market growth over the forecast period. FIBCs are mostly functioned in food processing companies and handle agricultural products comprising grains, rice, potatoes, cereals, and others. 

Growing environmental awareness among the masses and the rising demand for lightweight, biodegradable and huge packing material for pharmaceutical products is also motivating the market growth. The rising preference of end users towards Flexible intermediate bulk containers in place of old-fashioned packaging and shipping is one of the reason boosting the demand. The need for high sturdiness had an insignificant impact on the implementation rate of flexible intermediate bulk containers, hence manufacturers are developing new product lines to furnish to the increasing demand from end users. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies need to stay updated with varying market trends and progress products that meet rising consumer requirements. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

FLEXIBLE INTERMEDIATE BULK CONTAINERS MARKET SEGMENTATION

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By Type Analysis

According to type, the market can be segmented into type A FIBCs, type B FIBCs, type C FIBCs, type D FIBCs

Type A FIBCs will capture the maximum market share through forecast period.  

• Type A FIBCs: Type A FIBCs are prepared from steady polypropylene (PP) material without any special electrostatic shield. They are appropriate for non-flammable constituents that do not stance a risk of electrostatic discharge.

• Type B FIBCs: Type B FIBCs are made from antistatic fabric aimed to prevent the build-up of electrostatic charges. But, they do not deliver complete shield against sparks and combustible discharges.

• Type C FIBCs: Type C FIBCs are furnished with foundation instruments to securely scatter static charges, creating them appropriate for combustible constituents.

• Type D FIBCs: Type D FIBCs, do not need basis and offer shield against dangerous charges for both combustible and non-flammable constituents.

By Application Analysis

According to application, the market can be segmented into food products, chemicals, pharmaceuticals, other

Flexible intermediate bulk containers market players cover segment as food products will dominate the market share during forecast period.

• Food products: They are expressly planned for conveying and storing food products. They observe severe cleanliness and security standards to inhibit infection and safeguard the integrity of the food items.

• Chemicals: The chemical industry broadly exploits for conveying and packing an extensive variety of chemicals comprising powders, particles, and fluids.

• Pharmaceuticals: It acts as a vital part in the pharmaceutical sector for controlling and conveying pharmaceutical requirements and finished products.

• Other: This category includes various other trades and presentations where flexible intermediate bulk containers find convenience, such as building materials, farming product, and waste managing.

DRIVING FACTORS

"Increasing Demand For Environmental Friendly Packaging Solution To Boost The Market Growth"

With growing consciousness about ecological sustainability flexible intermediate bulk containers prepared from recyclable materials or those aimed for multiple uses are achieving acceptance which is motivated by guidelines and consumer preferences. Growing awareness among the masses and the growing demand for lightweight, decomposable and majority packaging material for medicinal products, is also motivating the market progression. 

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the flexible intermediate bulk containers market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Product improvements such as the expansion of flexible intermediate bulk containers variants as hygiene packaging solutions, is performing as alternative growth-inducing factor.

RESTRAINING FACTOR

"Volatility in Raw Material Prices To Hamper The Market Growth"

Instabilities in the costs of raw materials mostly polymers used in flexible intermediate bulk containers trade, can influence manufacturing costs and eventually affect pricing and productivity for both manufacturers and end-users. Technical difficulties will reduce the industry revenue.

FLEXIBLE INTERMEDIATE BULK CONTAINERS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Region Due To Rapid Industrialization & Increasing Trade Activities"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa. 

Asia Pacific is further expected to witness growth in the flexible intermediate bulk containers market share. The region is dominating the market due to prompt industrialization, inhabitants progress, and growing trade undertakings. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Global-Pak (U.S.)
• Flexi-tuff (India)
• Conitex Sonoco (U.S.)
• Berry Plastics (U.S.)
• RDA Bulk Packaging (India)

INDUSTRIAL DEVELOPMENT

April 2022:  Flexitfuff, achieving the Highest Exporter's award in the FIBC category for 15consecutive years and also second prize in the Small bags category from Pexconcil, The Plastics Export Promotion Council.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.