Japan FIBC Industry is Anticipated to Reach US$ 655.1 Million by 2033 | FMI

In 2023, FIBC sales in Japan are estimated to hit US$ 405 million, with a projected climb to US$ 655.1 million by 2033. The forecast anticipates a 4.9% CAGR surge in FIBC demand over this period. Notably, the revenue generated by FIBC stood at US$ 387.9 million in 2022, indicating a year-on-year growth of 4.4% in 2023. This trajectory suggests a steady rise in FIBC utilization, reflecting evolving industrial needs and logistical requirements. The consistent growth pattern underscores the significance of FIBC in Japan’s market landscape, emphasizing its pivotal role in various sectors ranging from agriculture to chemicals.

According to the latest report, FIBC revenue in Japan is forecasted to more than double by 2033, marking a 1.6X expansion, driven by a projected 2.9% increase in the compound annual growth rate (CAGR) compared to historical data. This growth is fueled by the strong performance of key sectors such as food, agriculture, chemicals, and pharmaceuticals, along with a growing appetite for bulk flexible packaging solutions. The anticipated surge underscores the pivotal role of FIBC in meeting the evolving needs of various industries, reflecting a shift towards efficient and cost-effective packaging solutions in the Japanese market landscape.

Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-18094

Business Growth Drivers:

1. Industrial Growth: Japan’s thriving industrial sector, particularly in chemicals, food and beverages, pharmaceuticals, and agriculture, fuels the demand for FIBCs for bulk handling and transportation of goods.
2. Technological Advancements: Innovations in FIBC design, materials, and manufacturing processes enhance product performance, durability, and safety, attracting more industries to adopt FIBCs over traditional packaging methods.
3. Environmental Sustainability: Growing awareness and regulations regarding environmental sustainability drive the adoption of FIBCs due to their reusability and recyclability, reducing packaging waste and carbon footprint.
4. Cost-effectiveness: FIBCs offer cost advantages over other packaging solutions like drums or sacks, especially for bulk transportation, storage, and handling, driving their adoption across various industries.
5. Global Trade: Japan’s active participation in global trade necessitates efficient and cost-effective packaging solutions like FIBCs for the export and import of goods, especially commodities like chemicals, minerals, and agricultural products.
6. Infrastructure Development: Ongoing infrastructure development projects, such as port expansions and logistics enhancements, increase the demand for FIBCs for efficient bulk handling and transportation of goods within Japan and abroad.
7. Supply Chain Optimization: FIBCs facilitate efficient supply chain management by reducing handling and transportation costs, minimizing product damage, and improving inventory management, thus driving their adoption in logistics operations.

Industry Restraints:

1. Regulatory Compliance: Strict regulations regarding packaging materials, labeling requirements, and transportation standards impose compliance challenges and additional costs on FIBC manufacturers and users, hindering market growth.
2. Price Volatility of Raw Materials: Fluctuations in the prices of raw materials like polypropylene, the primary material used in FIBC production, impact manufacturing costs and product pricing, affecting industry profitability.
3. Competition from Alternative Packaging Solutions: FIBCs face competition from alternative packaging solutions like drums, bulk bins, and cardboard containers, especially in certain niche markets or applications where these alternatives offer specific advantages.
4. Quality and Safety Concerns: Instances of FIBC failures, such as tearing, leakage, or contamination, raise concerns about product quality and safety, leading to potential reputational damage and legal liabilities for manufacturers and users.
5. Limited Awareness and Education: Lack of awareness and understanding about the benefits and proper usage of FIBCs among potential users, especially in smaller enterprises or traditional industries, slows down market growth and adoption rates.
6. Global Economic Uncertainties: Economic uncertainties, trade tensions, and geopolitical risks can impact global trade volumes and business confidence, affecting demand for FIBCs across various industries, including exports and imports.
7. Infrastructure Limitations: Inadequate infrastructure, such as storage facilities and handling equipment compatible with FIBCs, in certain regions or industries, limits their widespread adoption and utilization, especially in remote or underdeveloped areas.

Recent Activities of FIBC Manufacturers

• In September 2023, LC Packaging International BV announced that they joined Starlinger, the PET recycling team, and Velebit to close the loop with big bags made from recycled bags.
• In April 2023, Grief Inc. announced the acquisition of Centurion Container LLC by increasing its ownership up to 80%, expanding its presence in North America.
• In February 2023, Rengo Co. Ltd. announced the acquisition of Nitto Danboru Co., Ltd. to enhance future business operations.

Key Players:

• Grief, Inc.
• Berry Global Inc.
• Intertape Polymer Group
• LC Packaging International BV
• Mitsubishi Corp.
• Nihon Matai Co. Ltd. (Rengo Group)
• Kohsei Co., Ltd.
• SHIBATA INDUSTRIAL CO. LTD.
• Media International Co. Ltd.
• Yamanaka Shokai Co. Ltd.
• Hagihara Industries Inc.
• SHIOYA Co. Ltd.
• SMC CO. LTD.
• Taiyo Kogyo Corporation

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/18094

Japan FIBC Industry Outlook by Category

By Bag Type:

• Type A
• Type B
• Type C
• Type D

By Capacity:

• Up to 250 Kgs
• 250 Kgs to 750 Kgs
• Above 750 Kg

By Design:

• U Panel Bag
• Four Side Panel
• Baffle
• Circular/ Tabular
• Cross Corner

By End-use:

• Building and Construction
• Chemicals and Fertilizers
• Food Products and Agriculture
• Pharmaceutical Products
• Mining

By Sub-region:

• Hokkaido
• Tohoku
• Kanto
• Chubu
• Kansai
• Chugoku
• Shikoku
• Kyushu & Okinawa

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
LinkedIn| Twitter| Blogs | YouTube