The FIBC market is poised for substantial growth, projected to reach a valuation of US$ 12.6 billion by the conclusion of 2033, boasting a steady CAGR of 5.4% throughout the forecast duration. In 2023 alone, the market is forecasted to yield revenue of US$ 7.5 billion. Furthermore, the global FIBC market is anticipated to capture one-third of the total value share in the global IBC market, which was valued at US$ 22 billion in 2022.
FIBCs were rugged sheets made up of heavy-duty PVC coated polyester or nylon are combined together to get the shape of containers and lifted using pallets. With increasing demand for low space consuming flexible packaging, these FIBCs paved the way for woven polypropylene bulk bags.
FIBCs not only offer bulk quantity packaging but also protect and guarantees the shelf life of the products. FIBCs with modified atmospheric packaging (MAP) technology prevents product decay by replacing oxygen with nitrogen in the packaging.
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Although FIBCs are primarily used to ship hazardous chemicals only, owing to constant innovations in the structural and design features. According to Future Market Insights, the FIBCs are extensively used in mining, building and construction, food, and agriculture industries.
As FIBCs are used to transport hazardous materials, the risk of fire is more during transportation especially in the high temperature regions. Hence, chemical industries transporting explosive materials have high demand for fire retardant bulk bags. The FIBCs produce with PP fabric and fire retarding chemicals ensures optimum fire safety and therefore such FIBCs are in huge demand in the past three years.
Key Takeaways from Global FIBC Market
- FIBC with a carrying capacity above 750 kgs is expected to hold major pie of 55% value share.
- Q bags with baffles are estimated to increase 1.7x of the current market value, by next decade.
- In terms of end use, chemicals & fertilizers segment is estimated to dominate the FIBC industry, registering CAGR of 5.8% in the global market.
- During the projected period, the U.S. FIBC market is expected to rise significantly.
- During the forecast period, the Indian FIBC market is expected to grow at a CAGR of 6.8% until 2032.
A list of Key Players Covered in the FIBC Market are:
- Grief
- Berry Global Group
- Intertape Polymer Group.
- Conitex Sonoco
- LC Packaging International BV
- RDA Bulk Packaging Ltd.
- Conrop
- s.r.o.
- MANICARDI® srl
- J&HM Dickson Ltd.
- DS SMITH plc
- Sokuflex Behälter GmbH
- Bulk Containers Europe BV.
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“Integration of smart technologies in the FIBCs is setting new sales benchmarks in the global market. MAP, UV resistant, fire-resistant, and data retrieval technologies based FIBCs are creating boom in the market. To capitalize on this trend, manufacturers are targeting e-commerce and food industries.” – Says FMI Analyst
Growth Drivers & Challenges of Global FIBC Market
One of the primary factors driving the growth is rapid industrialization around the world. FIBCs are rapidly being used by chemical and agriculture product makers to transport grains, rice, potatoes, cereals, and liquid chemicals.
Construction supplies such as carbon black, steel, alloys, minerals, cement, and sand are also stored and transported in these bags. Furthermore, rising environmental concerns, as well as increased demand for lightweight, biodegradable, bulk packaging materials for pharmaceutical products is driving market expansion.
Pharma-grade FIBC is used to store and prevent contamination of a variety of medical items. Product advancements, such as the development of FIBC variations as hygiene packaging solutions, are contributing to this rise.
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Global FIBC Market by Category
By Packaging Type:
- Q-bags
- Baffle Bags
- Circular Bags
- 6-panel
- Others
By Capacity:
- Upto 250 Kg
- 250 kgs – 750 Kgs
- Above 750 Kgs
By End User:
- Building & Construction
- Chemicals & Fertilizers
- Food Products & Agriculture
- Pharmaceuticals Products
- Mining
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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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