The latest research study “Flexible Intermediate Bulk Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group offers a comprehensive analysis of the industry, which comprises insights on the global flexible intermediate bulk container market
Is the flexible intermediate bulk container market good for investment or future trends?
The flexible intermediate bulk container market is expected to exhibit a CAGR of 5.3% during 2022-2027.
What is the flexible intermediate bulk container?
Significant growth in the agriculture industry across the globe is creating a positive outlook for the market. In line with this, FIBCsare widely adopted to handle grains, rice, potatoes, cereals, sand, and liquid chemicals, thus supporting the market growth. Additionally, the widespread product adoption in the pharmaceutical industry for storing various medical products while preventing contamination is favoring the market growth. Apart from this, the introduction of electronic tagging of FICB that assists in providing relevant information regarding the reusability, safety, and traceability of the item and helps reduce loss and damage of products are providing an impetus to the market growth.
Moreover, the rising environmental consciousness among the masses has facilitated the demand for biodegradable and lightweight bulk packaging solutions, such as FICB, for various industrial applications, which, in turn, is augmenting the market growth. Besides this, various product innovations, such as the employment of virgin polypropylene resins as a key raw material due to an enhanced focus on hygiene,are positively impacting the market growth. Other factors, including the increasing product utilization to transport construction materials and the rising need to reduce the overall weight of bulk packaging, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.7 Billion by 2027, growing at a CAGR of 5.3% during 2022-2027.
Impact of Covid-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is the drivers of change in trends for the flexible intermediate bulk container market:
The escalating demand for enhanced customer services represents the primary factor driving the market growth. Besides this, significant growth in the e-commerce sector due to the emerging trend of online shopping and rising internet penetration is another major growth-inducing factor. Additionally, there has been a substantial shift from offline distribution channels to online retail platforms due to the implementation of lockdowns amid the sudden outbreak of coronavirus disease (COVID-19). In line with this, the growing usage of e-commerce platforms for the sale and purchase of consumer goods has augmented the demand for live chat software to provide 24×7 customer support, handle queries, and resolve other issues.
Furthermore, several key players are launching advanced live chat software integrated with innovative features, such as co-browsing and screen sharing, mobile support, social media integration, and automated pop-up messages. Along with this, the increasing adoption of cloud-based live chat software by organizations to enhance customer relationship management (CRM) and improve user experience has catalyzed the market growth. Other factors, including the surging popularity of live chat, increasing usage of smartphones, rapid urbanization, rising number of small-medium enterprises (SMEs), and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,486 Million by 2027, expanding at a CAGR of 8.62% during the forecast period (2022-2027).
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|Flexible Intermediate Bulk Container Market Report Scope|
|Market size value in 2021||US$ 4.9 Billion in 2021|
|Market forecast in 2027||US$ 6.7 Billion by 2027|
|Growth Rate||CAGR of 5.3% from 2022-2027|
|Base year for estimation||2021|
Flexible Intermediate Bulk Container Market Segmentation:
The report has segmented the market on the basis on region, product and end use industry.
Breakup by Product:
- Type A
- Type B
- Type C
- Type D
Breakup by End-Use Industry:
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,Others)
- Middle East and Africa
Who are the Major Flexible Intermediate Bulk Container Market Key players?
The report provides a detailed analysis of the market leaders, including.
Bag Corp., Berry Global Inc., Bulk Lift International LLC, Global-Pak Inc., Greif Inc., Isbir Sentetik Dokuma Sanayi A.S., Langston Companies Inc., LC Packaging International BV, Plastipak Group and Rishi FIBC Solutions PVT. Ltd.
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