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[Report of 275 pages] The bulk bags market is expected to reach US$ 8.0 billion by 2028, with a compound annual growth rate of 6.0 percent from 2015 to 2021. According to FMI’s research, the worldwide bulk bags market is predicted to grow 1.6x during the forecast period, providing lucrative investment prospects for manufacturers. According to newly released data from a bulk bags market analysis, global demand for overall bulk bags is expected to expand 6.9% year on year (YoY) in 2021. Bulk Bags Market By Capacity (Small, Medium, Large), Design (U-Panel Bag, Four Side Panel, Baffle, Circular/ Tabular, Cross Corner, Others), Filling & Discharge (Open Top & Flat Bottom, Duffle Top & Flat Bottom, Open Top & Spout Bottom), End User Industry (Chemicals & Fertilizers, Food, Construction), Region – Forecast to 2022-2028
The FMI team also discovered that overall bulk bag sales in Asia Pacific, excluding Japan, are expected to reach US $855 million in 2021. In 2021, the combined market share of bulk bags in Eastern and Western Europe is estimated to reach over 35.0 percent. The total incremental potential for these regions are anticipated to be US$ 974.3 million.
Bulk bags have been increasingly used in industries such as chemical, food, agricultural, construction, mining, pharmaceuticals, and others. Because of their cost-effectiveness and convenience of use, the use and popularity of large bags has grown substantially over time. Bulk bags are in high demand due to their inexpensive carrying costs and increased efficiency in loading and unloading items and merchandise.
How are technological advancements like Modified Atmosphere Packaging (MAP) being used to extend the shelf life of products reshaping the bulk bag market dynamics?
Chemical, food, seed, and other product producers, suppliers, and distributors sell their products in marketplaces all over the world, therefore shelf-life stability is critical. Consumers want items that are free of artificial additives and preservatives. As a result, modified atmosphere packaging (MAP) has become the go-to solution for extending the shelf life of products.
The MAP is a cutting-edge packaging technology that allows you to control the amount of oxygen and CO2 in your package. Consumers and the environment are not harmed by MAP technology. MAP technology is used by FIBC producers in their product range.
What is the Global Bulk Bags Market Impact of the COVID-19 Pandemic?
The Covid-19 pandemic had a rapid and widespread impact on manufacturers, supply chains, and global markets, including the bulk bag sector. Food and pharmaceutical products are frequently stored, carried, and transported in jumbo bags. Challenges such as logistical delays in shipping the bags were encountered all around the world. Due to supply chain disruptions and rising demand for food-grade bulk bags, there may be delays in product delivery.
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Bulk Bags Market Insights by Country
How big is the market for bulk bags in the United States? In 2021, the bulk bags market in the United States will have a strong 81 percent market share in North America. According to Trade Map, the United States exported 20,317 tonnes of bags and sacks and imported 149,960 tonnes. The U-Panel bulk bag has become industry standard in the United States. Bulk bags are frequently utilised in disasters such as hurricane flooding, river overflows, and mudslides. Manufacturers are constructing bags to safeguard human lives and property from natural disasters, and large bulk bags are required to endure such disasters.
Bulk Bags market Competitive Landscape
As the consumption and adoption of bulk bags is increasing, the key manufacturers of bulk bags are focusing on innovation also cost-saving solutions that reduce freight cost, elimination of the pallets, partnership and, sustainability.
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Bulk Bags Market by Category
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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The post Bulk Bags Market Is Expected To Reach US$ 8.0 Billion By 2028 | Conitex Sonoco, AmeriGlobe L.L.C., Greif, Inc., Halsted Corporation+9 appeared first on Future Market Insights.
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