The global 2 loop FIBC bags market is anticipated to reach a valuation of US$ 2.68 billion in 2023, driven by rise in bulk material transportation. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 3.0% between 2023 and 2033, and reaching a total valuation of US$ 3.6 billion by 2033.
The Asia Pacific region is renowned for its robust industrial and manufacturing sectors, necessitating efficient packaging solutions for the movement of raw materials, intermediate products, and finished goods. 2 Loop FIBC bags have emerged as a cost-effective and convenient means of handling and transporting bulk materials, contributing significantly to the market’s growth.
Furthermore, the region’s extensive agricultural activities, encompassing crop cultivation and agribusiness, drive a strong demand for packaging solutions for commodities like grains, seeds, fertilizers, and agricultural produce. These bags offer a dependable method for packaging and transporting these goods, thereby supporting streamlined supply chain operations.
The ongoing urbanization and infrastructure development projects in Asia Pacific necessitate the transportation of construction materials, aggregates, and cement. 2 Loop FIBC bags are well-suited for bulk material transportation, which, in turn, bolsters the growth of the construction sector and the demand for these bags.
The burgeoning e-commerce sector in the region has amplified the need for efficient and secure packaging solutions for bulk products. These bags are favored for their ability to optimize warehousing, handling, and transportation processes, aligning with the logistics demands of the e-commerce supply chain. The region is expected to maintain a Compound Annual Growth Rate (CAGR) of 2.8% over the analysis period, reflecting the sustained growth and relevance of these versatile packaging solutions.
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One of the major factors contributing to the growth of the 2 loop FIBC bags market is the growing agricultural activities. Agriculture remains a crucial sector globally, and the need for efficient packaging solutions for crops, seeds, fertilizers, and other agricultural products is on the rise. 2 loop FIBC bags provide a convenient means of packaging and transporting agricultural goods, helping to maintain their quality and freshness during storage and transit.
Rapid urbanization and infrastructure projects require a steady supply of construction materials such as sand, cement, and aggregates. 2 Loop FIBC bags serve as reliable containers for transporting heavy and bulky construction materials, contributing to the efficiency of construction operations and the growth of the construction industry. The safe transportation of hazardous materials is paramount in the chemical and petrochemical sectors. 2 loop FIBC bags are designed to meet stringent safety standards and can securely transport chemicals and petrochemical products, contributing to the growth of these industries.
There is a need for efficient packaging to transport essential supplies to affected regions, during emergencies and disaster relief operations. 2 loop FIBC bags can be rapidly filled with relief items and distributed, aiding humanitarian efforts.
Key Takeaways from the Market Study
- Global 2 loop FIBC bags market was valued at US$ 2.6 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.0%.
- North America is expected to hold a dominant CAGR of 2.9% during the forecast period.
- By packaging type, bottles segment is expected to constitute a CAGR of 2.9% in 2033.
- On the basis of application, pharmaceuticals segment is expected to dominate the market with a CAGR of 2.9% in 2033.
- From 2023 to 2033, 2 loop FIBC bags market is expected to flourish at a CAGR of 3.0%.
- By 2033, the market value of 2 loop FIBC bags is expected to reach US$ 3.6 billion.
“Global trade and cross-border activities, across the globe, is a major factor that is expected to propel the growth of the 2 loop FIBC bags market in the near future,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the 2 loop FIBC bags market are
- Greif,
- Chuangda Group,
- Rockleigh Industries,
- Propex Operating Company LLC,
- CHK Manufacturing Inc.,
- Delta Big Bag,
- LARE FIBC LLC,
- Rosenflex UK Ltd.,
- CHK Manufacturing Inc.,
- Bulk Corp International, and
- TechnoPac GmbH.,
- among others.
Recent Developments:
- In 2022, LARE FIBC LLC. launched a new line of 2 Loop FIBC Bags with improved durability and puncture resistance.
- In 2021, Greif announced the acquisition of Delta Big Bag, a leading manufacturer of 2 Loop FIBC Bags in North America.
- In 2021, Chuangda Group launched a new line of 2 Loop FIBC Bags made from recycled materials.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global 2 loop FIBC bags market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the 2 loop FIBC bags market, the market is segmented on the basis of size (up to 5 oz, between 6 oz to 12 oz, between 13 oz to 20 oz, and above 20 oz), by packaging type (jars, vials, and bottles), and application (perfumes, essential oils, chemicals, pharmaceuticals, and other liquids), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Key Segments Profiled in the Global 2 Loop FIBC Bags Market
Size:
- Up to 5 oz
- Between 6 oz to 12 oz
- Between 13 oz to 20 oz
- Above 20 oz
Packaging Type:
- Jars
- Vials
- Bottles
Application:
- Perfumes
- Essential Oils
- Chemicals
- Pharmaceuticals
- Other Liquids
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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