Flexible Intermediate Bulk Container Market Trends & Growth 2024-2032
IMARC Group’s report titled “Flexible Intermediate Bulk Container Market Report by Product (Type A, Type B, Type C, Type D), End Use Industry (Food, Chemicals, Pharmaceuticals, and Others), and Region 2024-2032”, The global flexible intermediate bulk container market size reached US$ 5.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
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Factors Affecting the Growth of the Flexible Intermediate Bulk Container Industry:
- Rising Demand in the Food and Beverage Sector:
The use of Flexible Intermediate Bulk Containers (FIBCs) is increasing fast in the food and drink industry. As the population grows, more food is being produced, and safe packaging is very important. FIBCs are great for carrying large amounts of items like grains, flour, and sugar while keeping them clean and safe. They are also lightweight, which helps reduce shipping costs and is better for the environment. With stricter food safety rules, more companies are choosing FIBCs that follow these standards. In 2024, the demand for FIBCs is expected to grow as businesses focus on safety, efficiency, and eco-friendly practices.
- Growth in E-commerce and Logistics:
Online shopping is growing quickly, and this is driving up the need for FIBCs. E-commerce companies need packaging that can handle big, heavy items and make transporting them easier. FIBCs are a great choice because they save space, cost less, and make loading and unloading faster. They are also used in other industries like farming, construction, and chemicals, which makes them even more popular. As online shopping keeps growing, more companies will use FIBCs, giving manufacturers more opportunities in 2024.
- Innovations in Material Technology:
New materials are making FIBCs stronger and better. Improved materials like polypropylene make FIBCs last longer and resist moisture and sunlight. Companies are also creating eco-friendly FIBCs that can be recycled or break down naturally, helping to reduce plastic waste. These better materials not only work well but also help companies meet their environmental goals. As more businesses look for sustainable options, the demand for these improved FIBCs will grow in 2024, encouraging manufacturers to create even better designs.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging flexible intermediate bulk container market trends.
Leading Companies Operating in the Global Flexible Intermediate Bulk Container Industry:
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., etc.
Flexible Intermediate Bulk Container Market Report Segmentation:
By Product:
Type A
Type B
Type C
Type D
Type A exhibits a clear dominance in the market attributed to its cost-effectiveness and suitability for non-hazardous material handling.
By End Use Industry:
Food
Chemicals
Pharmaceuticals
Others
Food accounts for the majority of the market share owing to the growing demand for safe and hygienic bulk packaging for edible products.
Regional Insights:
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
North America dominates the market due to the increasing demand from the robust industrial and agricultural sectors.
Global Flexible Intermediate Bulk Container Market Trends:
In 2024, FIBCs will focus on being eco-friendly, smarter, and more efficient. More companies will use FIBCs made from biodegradable and recyclable materials to protect the environment. Lightweight and strong FIBCs will be in high demand, especially in the food and drink industry, where safety and cleanliness are important. Smart features like tracking tags will also become more common, helping businesses manage products better. These changes will make the FIBC market grow quickly, meeting the needs of businesses and helping the environment.
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