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.
The United States leads in jumbo bag consumption, driven by robust growth in its construction sector and extensive infrastructure projects like the California High-Speed Rail, Sound Transit 3, and the Hudson Yards. These endeavors, requiring substantial raw materials, make jumbo bags indispensable for transporting various materials, fueling increased opportunities for major players. Future Market Insights predicts that the U.S. market is poised to surpass the billion-dollar mark in the coming decade, outpacing other nations. Meanwhile, in Germany, escalating jumbo bag sales are propelled by heightened demand from the chemical and pharmaceutical industries, benefiting from the country’s role as a leading pharmaceutical exporter in the European Union.
Plastic products have become a part of daily life worldwide. As a result, these are produced at a massive scale across the globe, opines Future Market Insights (FMI).
Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-2060
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.
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.
Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-2060
Demand for Type C Jumbo Storage Bags to Skyrocket by 2033 with High Affordability
Given their cost-effectiveness, space-saving attributes, and enhanced protection for combustible bulk items, Type C jumbo bags are projected to claim a significant 42.9% share in the global jumbo bags market by 2033, marking an expansion of +200 basis points during the forecast period. Future Market Insights attributes this growth to the adaptability of Type C bags, optimizing handling and transportation and improving material handling systems and supply chains. Recognizing that jumbo bags are composed of woven fibers, it is crucial to acknowledge the potential for electrostatic discharge at both inner and outer surfaces, as static energy generated during filling and discharging processes poses a risk.
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.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/2060
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
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competition landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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.
Contact Us:
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
