According to the latest report by IMARC Group, titled, “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.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Flexible Intermediate Bulk Container Industry Definition and Application:
Flexible intermediate bulk containers (FIBC), or bulk bags, are packaging solutions used in the industrial sector to store dry, granular, and semi-liquid products. These large, cube-shaped containers are made from coated or uncoated woven fabric and include loops for convenient storage and transportation. Some commonly available variants of FIBCs include U-panel, circular, four-panel, and baffle bags. These bags can hold various products, ranging from toxic and non-toxic chemicals to free-flowing materials like pharmaceuticals, rubber, and agricultural and food products. As a result, FIBCs find extensive applications in the transportation, mining, manufacturing, agriculture, and waste-handling industries across the globe.
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Flexible Intermediate Bulk Container Market Trends:
The global flexible intermediate bulk container market is primarily driven by rising product demand in the agriculture sector for handling various products, such as grains, cereals, sand, rice, potatoes, and liquid chemicals. Moreover, the increasing use of FIBC in the pharmaceutical industry to store a range of medical products and prevent contamination has catalyzed market growth. Additionally, the implementation of electronic tagging for FIBCs, which provides crucial information regarding the item’s reusability, safety, and traceability and helps minimize product loss and damage, is positively influencing the market growth. Furthermore, the escalating demand for lightweight and biodegradable bulk packaging solutions, such as FIBCs, in numerous industrial applications due to rising environmental consciousness among consumers is contributing to the market growth. Other factors, including rapid expansion in the agriculture industry, increasing use of FIBC for transporting construction materials, and product innovations, are also anticipated to drive the market further.
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
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Competitive Landscape:
- 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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