Future Market Insights (FMI) detailed research of the bulk bags market gives in-depth insights into the governing variables propelling demand in the bulk bags market. Over the next ten years, it reveals prospects for growth in several areas based on capacity, fabric type, design, filling and discharge, and end-use industry.
According to FMI, the worldwide bulk bag market is expected to reach US$ 5.3 billion in 2022. Bulk bags are being more widely used in industries such as food, construction, mining, pharmaceuticals, and agriculture, which is driving up demand. Because of the growing demand for preservative-free products, sophisticated packaging technologies such as modified environment packaging have been developed (MAP). The technique allows the user to control the levels of oxygen and carbon dioxide in the package. As a result, the market is estimated to reach US$ 8 billion by the end of 2028.
Greif, Inc., for example, announced MAP Guard, a new packaging solution that uses MAP technology to extend product shelf life, in June 2021. As a result of these changes, the market is expected to rise 6.9% year over year in 2021.
The type C segment is expected to outperform other segments in terms of fabric type, accounting for about 43 percent of sales until 2028. A significant element enabling the segment’s growth is the increasing usage of solvents, flammable powders, and liquid combustible materials in transportation.
“Key manufacturers are highlighting the importance of delivering long-lasting flexible intermediate bulk containers (FIBCs) and tailored bulk bags based on the application and end-use requirement.” According to an FMI analyst, “this is projected to promote market expansion.”
Takeaways from the Bulk Bags Market Research
• The United States is expected to grow at the quickest rate in the North American market, accounting for about 81 percent of sales in 2021.
Germany is expected to become a highly profitable market in Western Europe, accounting for roughly 17% of total sales by 2028.
• Due to the growing use of bulk bags in the construction and chemical industries in Japan, the country is expected to have a major proportion of the market.
• Over the assessment period, India is predicted to continue to develop steadily in the Asia Pacific excluding the Japan market, accounting for more than 15.7 percent of demand.
Increased use of bulk bags made of type C fabric, which provides the highest level of antistatic protection and the capacity to distribute and handle any electrical charge formed during packaging and transit, is driving type C sales.
Bulk bag sales are increasing in the chemical and fertilizer industries due to the rising need for safe packaging solutions to store powders, chemicals, and other dangerous ingredients and protect them from external contamination.