Bulk Bags Market Analysis by Business Methodologies, Financial

• Posted by Shubham Gurav December 30, 2021 - Filed in Business - #Bulk Bags  #Bulk Bags Market  #Bulk Bags Industry  #Bulk Bags Market Size  #Bulk Bags Market Share  #Bulk Bags Market Growth  #Bulk Bags Market Trends  #Bulk Bags Market Forecast  #Bulk Bags Market 2021  #Bulk Bags Market Analysis  - 413 views

   Bulk Bags – A heavy-gauge, reusable shipping solutions

  Bulk bags have been used for a range of industrial, agricultural, pharmaceutical, and other products. However, there is a sharp surge in demand for bulk bags due to the spurring rise in sectors, such as chemicals & fertilizers, food, construction, pharmaceuticals, mining, and others. Besides, rising numbers of businesses and manufacturing sectors add to the bulk bags market growth. 

  The bulk/ jumbo bags are usually in non-woven format with high tensile strength and weather resistance. They are specially developed to offer durability and convenience of carriage with safety, despite their capacity to carry mass quantity. The rising focus of producers and manufacturers on effective and highly protective solutions for international and domestic bulk bag shipments is a key driving force behind the increased market demand. 

  Additionally, substantial investments poured into the product development impact market growth positively. According to Market Research Future (MRFR), the global bulk bags market is expected to touch a valuation of approximately USD 4956.7 million by 2023, growing at a 6.80% CAGR during the forecast period. 

  The market calls for reusable, recyclable, and contamination-free packaging solutions to replace wood and cardboard. The need to prevent damage and contamination to FIBC loads, which customers stressed as a great need, encourages bulk bag manufacturers to develop new solutions in large part. These solutions can meet the demands of producers who require their cargo to arrive undamaged at its destination, whether transporting domestically or internationally.

  
  
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  COVID-19 Impact:

  The COVID-19 pandemic hit the bulk bags market industry severely, causing huge revenue loss to end-use industries like food & beverages and construction. The lockdown halted the production of several key raw materials, which further posed many production challenges, resulting in spiking product prices and lowering the market demand. Manufacturers faced a range of problems, from obtaining raw materials required for the production and deliver end products to attract workers from quarantines. 

  However, in the non-container business, the bulk cargo grew strongly in 2020, especially for fertilizers. Distributors expanded fertilizer warehouses, where they could convert the bulk cargo into bags and load the bags into rail wagons. There was also a capacity upgrade in fertilizer production. Resultantly, the bulk bags market is estimated to witness robust market opportunities with steadily increasing demand. 

  Industry Trends:

  Recent trends observed in the bulk bag market include 100% biodegradable and sustainable bulk bags designed to deliver strong, durable, and multi-use potential. Also, Brownfield BOPET and greenfield BOPET film line and CPP lines with a water-based oxygen barrier coating for food packaging to achieve oxygen barrier properties on BOPP and CPP films are trending in the market. 

  Other major industry trends include high awareness about the benefits of high tensile strength and weather resistance and the need to optimize the total cost of ownership (TCO) led by relentless competition and margin pressures. Also, increasing complex local, regional, and international connections that need a broad range of transport modes substantiate the market size.

  
  
  
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  Despite the promising prospects, the bulk bags market still witnesses several challenges. These growth impeding factors include the strict government guidelines about the product's sustainability and the high cost required to set up automated production lines. Also, the need to meet different regulatory standards and code mandates for product safety is a major headwind for the market. 

   Segmentation:

  The bulk bags market analysis is segmented into fabric type, capacity, design, end-users, and region. The fabric type segment is sub-segmented into type A, type B, type C, and type D. The capacity segment is sub-segmented into small (up to 0.75 cu.m), medium (0.75 to 1.5 cu.m), and large (above 1.5 cu.m).

  The design segment is sub-segmented into u-panel bags, four side panels, baffles, circular/tabular, cross corners, and others. The end-users segment is sub-segmented into chemicals & fertilizers, food, construction, pharmaceuticals, mining, and others. 

  Regional Segmentation:

  North America dominates the global bulk bags market mainly due to the industrial sector's reliance on heavy-density packaging material. Besides, the rising demand from major chemicals & fertilizers manufacturing companies in the region drives the bulk bags market growth. Spurring rise in food and construction sectors in the region further increases the bulk bags market size in the region. The North American bulk bags market is projected to grow with a considerable market share during the forecast period.

  The Asia Pacific region holds the second position in the global bulk bags market. The growing manufacturing sector and fertilizer, construction, food, and pharmaceutical industries create substantial market demand. 

  
  
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  Moreover, substantial R&D investments made into the packaging technology development and upgrade increase the region's bulk bags market share.  India and China are leading bulk bags markets in the region. 

  The European bulk bags market is emerging as a profitable market globally. Increased demand from the pharmaceutical and mining sectors in the region increases the bulk bags market share. Furthermore, the vast adoption of bulk bags propels the market growth. 

  Competitive Analysis:

  The bulk bags market is witnessing several strategic approaches, such as collaboration, mergers & acquisitions, expansion, and product launches. Leading industry players make strategic investments in research and development activities and foster their expansion plans. 

  Industry players play a pivotal role in providing packaged products to the end consumers. In line with their vision to go local and serve the last mile with the best-in-class innovative and sustainable solutions, players scale up international as and domestic operations. Driven by a robust order and consistent market growth, they double the manufacturing capacity.

  For instance, recently, on Feb.12, 2021, UFlex Ltd., India's largest flexible packaging material and solutions multinational and a global polymer sciences company, announced the capacity expansion in packaging films with the set up of greenfield BOPET & CPP plant in Karnataka, India. The expansion decision is based on the surging demand of multiple lines from businesses and newer clients. 

  UFlex has also expanded its jumbo bags line developed for the Indian markets. These bulk bags are in non-woven format with high tensile strength and weather resistance. The bag offers durability and convenience of carriage with safety, despite its capacity to carry mass quantity.

  Key players involved in the market are Greif Inc.(US), Berry Global Group, Inc (US), Conitex Sonoco (US), J&HM Dickson Ltd (UK), BAG Corp (US), LC Packaging (the Netherlands), Langston Companies, Inc.(US), RDA Bulk Packaging Ltd. (England), Emmbi Industries Ltd (India), and Bulk Lift International (US), among others. 

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