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By 2023, the global jumbo bags market is poised to exceed a valuation of US$ 6.1 billion, with projections indicating a steady expansion at a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2033. Anticipated jumbo bags sales are expected to soar, surpassing a valuation of US$ 9.9 billion by the end of 2033. This trajectory underscores the sustained demand for jumbo bags across various industries, driven by factors such as the need for efficient bulk packaging solutions, growing logistics and transportation activities, and increasing awareness regarding the benefits of using flexible and cost-effective packaging options.
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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Business Growth Drivers:
- Increasing Demand from Various Industries: Industries such as agriculture, construction, chemicals, food, pharmaceuticals, and mining rely heavily on jumbo bags for bulk transportation and storage due to their cost-effectiveness and efficiency.
- Rise in Global Trade Activities: With globalization, there has been a surge in international trade activities, leading to increased demand for packaging solutions like jumbo bags that facilitate the transportation of bulk goods.
- Advantages of Jumbo Bags: Jumbo bags offer several advantages including reusability, ease of handling, space efficiency, and eco-friendliness compared to traditional packaging materials, which has contributed to their growing adoption.
- Focus on Sustainability: Companies are increasingly focusing on sustainable packaging solutions to reduce environmental impact. Jumbo bags, which are often recyclable and reduce the need for secondary packaging, align well with these sustainability goals.
- Technological Advancements: Continuous advancements in manufacturing technologies have led to the production of stronger, more durable, and customized jumbo bags that cater to specific industry requirements, thus expanding their application areas.
Industry Restraints:
- Regulatory Compliance: Compliance with stringent regulations regarding the transportation and storage of hazardous materials poses a challenge for the jumbo bags market. Ensuring that the bags meet regulatory standards adds complexity and cost to manufacturing processes.
- Fluctuating Raw Material Prices: The jumbo bags market is sensitive to fluctuations in the prices of raw materials such as polypropylene, which is a primary material used in manufacturing. Volatility in raw material prices can affect profit margins for manufacturers.
- Competition from Alternative Packaging Solutions: Despite their advantages, jumbo bags face competition from alternative packaging solutions such as bulk containers, drums, and pallets. Depending on the specific needs of industries, these alternatives may sometimes be preferred over jumbo bags.
- Concerns Regarding Quality and Safety: Issues related to quality control and safety standards can arise, especially in sectors where the transportation and storage of hazardous or sensitive materials are involved. Any incidents related to quality or safety can significantly impact market reputation and trust.
- Impact of COVID-19 Pandemic: The COVID-19 pandemic disrupted supply chains and manufacturing operations globally, impacting the jumbo bags market as well. While the demand for certain essential goods remained stable or increased, overall market growth may have been affected due to economic uncertainties and disruptions in production.
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.
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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.
Competitive Landscape:
- 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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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