Bulk Bags Market to Bag an Impressive Valuation of USD 5.2 Billion by 2032: MRFR

Overview:

Cost-affordability and eco-friendliness are taking the Bulk Bags Market ahead. A product of the latest technological advancements, these bulk bags are designed to store and transport industrial goods. The global bulk bags market is rapidly moving upscale to achieve a market valuation of USD 5.2 Billion with a CAGR of 6.80% during the forecast period (2023-2032), reveals Market Research Future (MRFR). The report further incorporates drivers that can take the bulk bags market further in the coming years. Bulk bags market has already taken the fight to traditional packaging modes. Bulk bags are also known as flexible intermediate bulk containers (FIBCs) and can replace a pallet of sacks. These are made of woven polypropylene (PP) fabric, which has properties such as mildew resistance, moderate resistance to heat, shrinking & stretching, and in terms of strength, it can beat its traditional counterpart. In addition, these bulk bags can come in PVC variant. Its reusability makes it eco-friendlier ensuring further growth for bulk bags market in the coming years.   

However, the oscillating raw material price can dampen the bulk bags market prospect during the forecast period. But its growing popularity across verticals can set the bulk bags market right back on track.

Segmentation:

The global bulk bags market can be segmented by fabric type, capacity, design, and end-user. 

By fabric type, the bulk bags market can be segmented into type A, type B, type C, and type D. Type A is the leading segment and is expected to retain the position with the fastest CAGR during the forecast period.

By capacity, the bulk bags market includes small (up to 0.75 cu.m), large (above 1.5 cu.m), and medium (0.75 to 1.5 cu.m). Small bulk bags category is way ahead of its peers at present and is touted to reign during the forecast period y growing at a faster speed than the rest.

Based on design, the bulk bags market comprises u-panel bags, four side panels, baffles, circular/tabular, cross corners, and others. U-panel bags are leading the segment and can record the best growth rate in the segment during the forecast period.

On the basis of end-users, the bulk bags market can be segmented into chemicals & fertilizers, food, construction, pharmaceuticals, mining, and others. Chemicals & fertilizers segment is reigning supreme at present and is expected to maintain its position during the assessment period with the highest CAGR.   Regional Analysis:

Region-specific take on the bulk bags market incorporates North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America is at present in charge of the global market in terms of revenue generation. Furthermore, the regional bulk bags market is poised to achieve the fastest growth rate during the forecast period. Intensely competitive industrial sectors and a large density of verticals are spurring the demand for regional bulk bags market.

Europe is having the same kind of profitability as the region shares similarities with North America. Furthermore, growing eco-awareness in the region is influencing the market. The APAC market is also having substantial growth due to emerging economies as they are getting more involved in industrial upliftment.

Competitive Insights:

Prominent bulk bags market players are Berry Global Group, Inc (US), Greif Inc. (US), Conitex Sonoco (US), BAG Corp (US), J&HM Dickson Ltd (UK), LC Packaging (the Netherlands), RDA Bulk Packaging Ltd. (England), Langston Companies, Inc. (US), Emmbi Industries Ltd (India), Bulk Lift International (US), and others. Strategies these companies employ often include mergers, association, product launch, and other methods which take the individual companies forward and assist the market growth.

Berry Global Group, Inc recently announced in 2018 that they acquired Laddawn Inc., a manufacturer of blown polyethylene bags and films. The latter has a well-structured e-commerce sales platform which would allow the former to penetrate the bulk bags market more.

Sonoco is planning to acquire Conitex Sonoco joint venture as this would assist the former to gain more market hold. Conitex Sonoco has a market in 13 locations across 10 countries which would help Sonoco in the coming years.Read More About This - Bulk Bags Market