April 13, 2024
Economy

Rise of Circular Economy Models Surges Growth in the Bulk Bag Market; FMI Analysts Predict Industry Valuation to Surpass US$ 6.0 Billion by 2034


Future Market Insights Global and Consulting Pvt. Ltd.

Future Market Insights Global and Consulting Pvt. Ltd.

The use of bulk bags varies according to the industry and the specific purpose of use. On account of the high demand for FIBCs for both storage and transportation, manufacturers are launching various types of speciality bags to address the needs of each industry and application. A quick peek at some of the speciality bulk bags trending today.

NEWARK, Del, March 04, 2024 (GLOBE NEWSWIRE) — The bulk bag market size is projected to expand at a CAGR of 2.6% from 2024 to 2034. The market for bulk bags is expected to be worth US$ 4.6 billion in 2024. By 2034, the size of the worldwide bulk bag industry is projected to reach US$ 6.0 billion in value.

The packaging industry is transforming due to the rise of circular economy models, and bulk bags are becoming a significant participant in this trend. Bulk bags’ intrinsic reusability is in perfect harmony with circularity principles, which call for materials and products to be made with many lifecycles in mind. The ‘take-make-dispose’ strategy is no longer applicable, as this trend offers bulk bags as a sustainable substitute. Companies who embrace the concepts of the circular economy see bulk bags as more than just packaging; they see them as an important part of their sustainability programs that help them achieve their main objectives of reducing waste and conserving resources.

Companies are placing more emphasis on transportation efficiency, and the bulk bag market plays a key role in meeting this requirement. Bulk bags are vital in enhancing overall supply chain efficiency since they are made for efficient handling, storage, and transportation.

This pattern reflects a move away from confinement and toward packaging options that actively support logistical optimization. Bulk bags are positioned as a critical facilitator of simplified supply chain operations, and the emphasis on transportation efficiency highlights a strategic connection with the larger corporate goals of lowering operating costs, improving speed-to-market, and guaranteeing flawless logistics.

Click to Request Sample Report and Drive Impactful
Decisions! https://www.futuremarketinsights.com/reports/sample/rep-gb-6964

Adopting sustainability offers companies a great chance to experiment with bulk bag materials. Research and development initiatives can focus on bio-based polymers, recycled materials, or substitutes that can be composted. Businesses can gain a competitive edge, engage in customer tastes, and distinguish their products by investing in sustainable material innovation. In a market where consumers are becoming more environmentally sensitive, this calculated action solves environmental issues and presents companies as ethical citizens, boosting brand recognition and cultivating client loyalty.

“Sustained success in the ever-changing bulk bag market necessitates focusing on innovation, sustainability, and regulatory compliance. Strategic alliances and customization are important differentiators for handling industry rivalry. In this dynamic environment, the capacity to quickly adjust to shifting customer demands for environmentally friendly solutions is essential for both expansion and survival.” Says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Key Takeaways from the Bulk Bag Market Report:

  • The global bulk bag market size expanded at a 1.9% CAGR from 2019 to 2023.

  • The Type C segment holds 41.5% of market shares in 2024.

  • The u-panel bag segment captured 26.2% of market shares in 2024.

  • The market size in the United States is projected to rise at a 1.3% CAGR through 2034.

  • The market size in Germany is anticipated to develop at a 1.1% CAGR through 2034.

  • The market size in Japan is estimated to surge at a 1.3% CAGR through 2034.

  • The market size in India is expected to increase at a 5.8% CAGR through 2034.

Request the Full Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-6964

Competitive Landscape

The bulk bag business is incredibly competitive, with small competitors like BAG Corp and RDA Bulk Packaging coexisting alongside industry titans like Berry Global Group and Greif. Important differentiators include sustainability and innovation, spearheaded by businesses like Mondi Group. Partnerships with logistics companies and other forms of strategic collaboration are important. The market is dynamic, with established firms, local experts, and innovators fighting for market share in a setting shaped by changing consumer tastes, environmental concerns, and technical breakthroughs.

Key Players in the Bulk Bag Market

  1. Berry Global Group, Inc.

  2. Greif, Inc.

  3. Conitex Sonoco

  4. BAG Corp

  5. Mondi Group

  6. LC Packaging International BV

  7. MiniBulk Inc.

  8. RDA Bulk Packaging Ltd.

  9. Big Bags International Pvt. Ltd.

  10. AmeriGlobe LLC

Recent Developments

  • In October 2023, Flexicon unveiled the BFF Series Bulk Bag Discharger. This revolutionary device minimizes contamination of the product and plant environment by retaining dust while attaching bag spouts and feeding material into vacuum conveying lines.

  • In August 2023, Automated Handling Solutions (AHS) company Spiroflow debuted its next-generation twin-line bulk bag filling system. The new technique, which has undergone extensive research and development, overcomes the limitations of slow, antiquated machinery prone to spills and excessive emissions of dust and products.

Get in Touch with Our Sales Team to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/6964

Bulk Bag Market Segmentation:

By Fabric Type:

By Design:

  • U-Panel Bag

  • Four Side Panel

  • Baffle

  • Circular/ Tabular

  • Cross Corner

  • Others

By Filling and Discharge:

  • Open Top & Flat Bottom

  • Duffle Top & Flat Bottom

  • Open Top & Spout Bottom

  • Spout Top & Spout Bottom

  • Spout Top & Flat Bottom

  • Others

By End User Industry:

  • Chemicals & Fertilizers

  • Food

  • Construction

  • Pharmaceutical

  • Mining

  • Others

By Region:

Authored by:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Explore Trending Reports of Packaging:

The woven bag market is estimated to stand at US$ 6.5 billion in 2024. The market is forecasted to exceed a valuation of US$ 9.9 billion by 2034.

The mesh bag market displays a considerable trend, featuring a rise of 3.2% CAGR, expected to endure until 2033. The consistent growth forecasts indicate that the global mesh bag market is poised to achieve an impressive valuation of US$ 2.1 billion by 2033.

The global BOPP bags market is poised to expand at around 4% to 5% CAGR between 2022 and 2032. The overall sales of BOPP bags are estimated to reach US$ 28 Bn by 2032

The global bag clips market is projected to grow at a CAGR of 6.0% between 2023 and 2033, totaling around US$ 9.1 billion by 2033.

The oven bag market is anticipated to record a CAGR of 8% during the forecast period, up from US$ 1901.9 Mn in 2022 to reach a valuation of US$ 4106 Mn by 2032.

The polypropylene woven bag and sack market share is expanding at a CAGR of 4.2%. The market size is expected to expand from US$ 4.0 billion in 2024 to US$ 6.1 billion by 2034.

The meat shrink bag market is projected to show moderate growth over the period from 2024 to 2034, with a CAGR of 5.6%. By 2034, the size of the market is predicted to have expanded to US$ 1,707.7 million.

The global IV bag market is predicted to grow at a moderate CAGR of 6.1% over the next ten years. By 2034, analysts anticipate the global IV bag industry is expected to be worth US$ 3.4 billion.

The teabag envelope market size is expected to have an average CAGR of 3.4%. By 2034, the size of the teabag envelope market is expected to have jumped to US$ 132.6 million.

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.


100% secure your website.