The extensive assessment of the bulk bags market by Future Market Insights (FMI) provides in-depth insights into the governing drivers driving demand in the bulk bags market. It shows growth potential in numerous categories over the next ten years, including capacity, fabric type, design, filling and discharge, and end-use industry.
The global bulk bag market is estimated to reach US$ 5.3 billion in 2022, according to FMI. Bulk bags are being increasingly commonly used in industries like food, construction, mining, medicines, and agriculture, resulting in increased demand. As the demand for preservative-free products grows, advanced packaging solutions such as modified environment packaging have been created (MAP). The user can adjust the amount of oxygen and carbon dioxide in the package using this method. As a result, by the end of 2028, the market is expected to be worth $8 billion.
In June 2021, Greif, Inc. unveiled MAP Guard, a new packaging solution that employs MAP technology to increase product shelf life. The market is predicted to rise 6.9% year over year in 2021 as a result of these improvements.
In terms of fabric type, the type C category is predicted to outperform other segments, accounting for around 43 percent of sales through 2028. The rising use of solvents, flammable powders, and liquid combustible materials in transportation is a key factor driving the segment’s expansion.
“Key manufacturers are emphasizing the need of producing long-lasting flexible intermediate bulk containers (FIBCs) and customized bulk bags based on the application and end-use requirement,” according to the report. “This is expected to encourage market expansion,” according to an FMI analyst.
Takeaways from the Market Research on Bulk Bags
- In 2021, the United States is predicted to grow at the fastest rate in the North American market, accounting for around 81 percent of total sales.
- Germany is predicted to become a highly profitable market in Western Europe, accounting for around 17 percent of overall sales by 2028.
- Due to the expanding usage of bulk bags in the construction and chemical sectors in Japan, the country is predicted to hold a substantial proportion of the market.
- India is expected to continue to grow steadily in the Asia Pacific market, excluding Japan, accounting for more than 15.7 percent of demand over the assessment period.
Increased use of bulk bags made of type C fabric is driving type C sales. Type C fabric provides the highest level of antistatic protection and the capacity to distribute and handle any electrical charge created during packaging and transit.
The demand for safe packaging solutions to store powders, chemicals, and other harmful materials and protect them from external contamination is driving bulk bag sales in the chemical and fertilizer industries.