Expected to exceed a valuation of US$ 6.1 billion in 2023, the global jumbo bags market is poised for sustained growth, with a projected compound annual growth rate (CAGR) of 4.2% from 2023 to 2033. Sales of jumbo bags are anticipated to surge, surpassing a valuation of US$ 9.9 billion by 2033. This trajectory underscores the escalating demand for jumbo bags across diverse industries, driven by their versatility and efficiency in bulk material handling, while signaling the market’s integral role in meeting evolving industrial packaging needs over the next decade.
It is estimated that around 70% of all plastic products are converted into plastic waste in a short span. Improper plastic waste management is one of the key factors that causes severe soil and groundwater pollution.
Governments have taken initiatives and induced stringent rules & regulations for plastic waste management. Recycling of plastic is considered to be the next viable and technically feasible option. It aims to tackle issues presented by the ever-growing volume of plastic waste.
Industries across Europe and North America prefer recyclable and recycled plastic packaging products. It is attributable to increasing awareness of proper management of plastic waste.
All these factors would offer ample amount of opportunities to prominent packaging manufacturers. They would design and manufacture highly recyclable jumbo bags.
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Key Takeaways from Jumbo Bags Market Study
- By end use, the chemicals & fertilizers segment would hold more than 45% of share in the forecast period.
- Type C jumbo bags would reach US$ 1.4 billion by the end of 2033.
- U-panel design of jumbo bags would expand at a CAGR of 0% in the next ten years.
- By capacity, the 200 kg to 750 kg segment would show a BPS fluctuation of +140 bps by 2033.
- South Asia and East Asia would together create incremental opportunities of US$ 1.2 billion in the forecast period.
“Increasing demand for flexible packaging formats in the chemicals & fertilizers industry would push the market. Jumbo bags offer water-proof, versatile, and bulk packaging. Such ideal protection added with cost and space efficiency is provided by jumbo bags. It would bolster sales in the next ten years,” says an analyst.
Ability of Jumbo Bags to Reduce Transportation Cost Would Fuel Sales
Manufacturers have shifted toward flexible packaging. Inclination toward jumbo bags or bulk bags is due to better protection of materials that are transported. Ease of procurement would also push sales.
Empty jumbo bags can be easily stored due to their high flexibility. They can be transported even without pallets. They are low cost and can be conveniently handled.
On the other hand, filled jumbo bags have a low package-to-product weight ratio. Empty jumbo bags are compact and lightweight. It reduces transportation cost. Due to these factors, high preference for jumbo bags in bulk goods transportation is countered.
China, India, Bangladesh, and other emerging Asia Pacific countries are key producers of jumbo bags. But, consumption of these bags is low in these regions.
Rising economic growth and industrialization would propel demand. Need from industries to transport goods through low-cost flexible intermediate bulk containers would rise.
Rising shift toward flexible packaging from rigid packaging would drive jumbo bags demand. Jumbo bags are used for transportation of chemicals & fertilizers, food & agriculture products, and cement in Asia Pacific.
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Market Drivers:
- Growing Industrialization:
- Increasing industrial activities and manufacturing processes in various sectors, such as chemicals, agriculture, construction, and minerals, often require bulk packaging solutions, driving the demand for jumbo bags.
- Advantages of Jumbo Bags:
- Jumbo bags offer advantages like cost-effectiveness, easy handling, storage efficiency, and reusability, making them a preferred choice for transporting and storing bulk goods.
- Focus on Sustainable Packaging:
- With a rising emphasis on sustainability, jumbo bags made from eco-friendly materials or those designed for easy recycling are gaining popularity, as companies seek environmentally responsible packaging solutions.
- Global Trade and Logistics:
- The growth of international trade and logistics activities contributes to the demand for efficient and standardized packaging solutions like jumbo bags, especially for the transportation of bulk goods across borders.
Market Restraints:
- Fluctuating Raw Material Prices:
- The jumbo bags market may be influenced by fluctuations in the prices of raw materials, such as polypropylene, which is commonly used in bag manufacturing. This can impact production costs and, consequently, product prices.
- Concerns About Product Contamination:
- Industries dealing with sensitive products may express concerns about the potential contamination of goods during transportation or storage in jumbo bags. This can lead to a preference for alternative packaging solutions.
- Limited Awareness in Some Regions:
- In certain regions, there may be limited awareness about the benefits of jumbo bags, leading to slower adoption rates compared to more established packaging methods.
- Stringent Quality Standards:
- Some industries may face challenges in meeting stringent quality standards and specifications required for certain applications. This can limit the use of jumbo bags in specific sectors.
Competitive Landscape: Jumbo Bags Market
- Berry Global Group, Inc.,
- Greif Inc.,
- Conitex Sonoco,
- AmeriGlobe L.L.C, PT.
- WIHARTA KARYA AGUNG,
- BAG Corp.,
- Halsted Corporation,
- Intertape Polymer Group.,
- Emmbi Industries Ltd.,
- LC Packaging International BV,
- Rishi FIBC Solutions Pvt. Ltd.,
- Langston Companies Inc.,
- Jumbo Bag Ltd.,
- Bulk Lift International, and
- Sackmaker J&HM Dickson Ltd.
are prominent players in the jumbo bags market.
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Jumbo Bags Market Outlook by Category
By Bag Type:
- Type A
- Type B
- Type C
- Type D
By Capacity:
- Less than 200 kg
- 200 kg to 750 kg
- 750 kg to 1500 kg
- Above 1500 kg
By Design:
- U-Panel Bag
- Four Side Panel
- Baffle
- Circular/ Tabular
- Cross Corner
By End Use:
- Building & Construction
- Chemicals & Fertilizers
- Food Products & Agriculture
- Pharmaceuticals
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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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