Jumbo Bags Market
The global jumbo bags market is set for remarkable growth, with market valuation projected to exceed USD 6.1 billion in 2023 and expected to reach an impressive USD 9.9 billion by 2033. The market is anticipated to expand at a steady CAGR of 4.2% over the forecast period.
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Key Market Drivers and Trends
- Rising Urbanization and Population Growth: Rapid infrastructural developments driven by urbanization and population growth are directly boosting the demand for jumbo bags. The building and construction industry, in particular, is a significant contributor to this growth.
- Shift Toward Flexible Packaging: The market is witnessing a strong shift from rigid to flexible packaging formats. Jumbo bags, known for their durability, cost-efficiency, and space-saving properties, are increasingly preferred across various industries.
- Sustainable and Bio-Based Materials: Environmental concerns and stringent government regulations are pushing manufacturers towards sustainable practices. The use of bio-based materials for manufacturing jumbo bags is trending, creating new growth opportunities. Companies like Brain Chamber Polysacks and Berry Global Company are leading the way with eco-friendly and FDA-approved products.
Market Insights
- Market Share: The top five companies in the jumbo bags market are projected to hold around 15% of the global market share by 2023.
- Market Value: The market revenue for jumbo bags accounted for USD 5.9 billion in 2022, and it forms around 33% of the global bulk packaging market, which was worth USD 18 billion in 2022.
- Incremental Growth Opportunity: The market is expected to generate an attractive incremental growth opportunity of USD 3.8 billion from 2023 to 2033.
Key Takeaways from the Jumbo Bags Industry 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.
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“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.
The 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: 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
By Region:
- North America
- Latin America
- Europe
- Middle East & Africa
- East Asia
- South Asia
- Oceania
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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 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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