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Intermediate Bulk Container (IBC) Market Predicted to Grow at a CAGR of 6.8% by 2031

Intermediate Bulk Container (IBC) Market

According to Future Market Insights (FMI), the intermediate bulk container market is predicted to rise in the next years, with a total value of US$ 21 billion expected in 2021. Between 2021 and 2031, the market is predicted to grow at a 6.8% compound annual growth rate (CAGR).

Despite the suspension of industrial activity as a result of COVID-19, demand for intermediate bulk containers will increase from 2021 onwards. By the end of 2021, global volume is expected to reach 681 million units. In terms of volume, the market is expected to grow at a CAGR of 5.7 percent over the forecast period.

“In bulk packaging applications, intermediate bulk containers have emerged as a more efficient and cost-effective alternative to standard drums. The analysis indicates a phenomenally growing demand for paper and paperboard-based intermediate bulk containers as the packaging sector accelerates its shift away from plastics and plastic-based composites,” according to the FMI report.

In the intermediate bulk container industry, FIBCs (flexible IBCs) have a bigger value share than RIBCs (rigid IBCs) due to strong growth in the preference for flexible packaging options over rigid counterparts.

Food & beverage, industrial chemicals, and building & construction industries continue to be the primary consumers of intermediate bulk containers, accounting for around 80% of market value.

In the food and beverage industry, paper intermediate bulk containers are gaining traction.

According to the survey, the majority of intermediate bulk container demand is centered in the food and beverage, industrial chemicals, and building and construction industries. According to the report, IBC use in the food and beverage business is growing at a faster rate than in other industries.

In the food and beverage industry, paper and paperboard intermediate bulk containers have recently gained popularity. In addition to low handling costs, paper intermediate bulk containers have a much shorter filling and discharging time, making them an ideal IBC alternative for the food and beverage industry.

Western European Market Maturity Will Prevail

According to the survey, South Asian imports account for the majority of Europe’s intermediate bulk container demand. While the intermediate bulk container market in Western Europe is maturing, the rapidly expanding acceptance of non-plastic IBC alternatives is having a significant impact on the growth of the intermediate bulk container market in Eastern Europe.

South Asian countries, particularly India, hold a key position in the intermediate bulk container export scene and are expected to rise rapidly in the global landscape in the next years. Expanding manufacturing industries, rapid growth in the building and construction vertical, and a significant presence of major food and beverage industry operators are all helping to drive demand for industrial bulk containers in the region.

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