Jumbo Bags Market
The global jumbo bags market is poised for substantial growth, with projections indicating a valuation of US$ 6.1 billion in 2023. Forecasted to expand at a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2033, jumbo bags sales are predicted to exceed US$ 9.9 billion by 2033.
Market Drivers:
The expanding building and construction industry, driven by rapid infrastructural developments worldwide, is a key factor contributing to the growth of the jumbo bags market. Additionally, rising urbanization and population growth directly boost sales of jumbo bags, with the target segment expected to expand significantly during the forecast period.
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Industry Insights:
The global jumbo bags industry represents around 33% of the global bulk packaging market, which was valued at US$ 18 billion in 2022. Advancements in technology, evolving packaging goals, and the wide applicability of jumbo bags across various sectors are anticipated to drive demand in the coming years.
Market Growth Opportunities:
The period from 2023 to 2033 is expected to generate an incremental growth opportunity of US$ 3.8 billion for the jumbo bags market. Increasing demand for flexible packaging formats across diverse industries, coupled with innovations in the flexible packaging industry, is encouraging manufacturers to transition from rigid packaging formats to 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.
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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.
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.
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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.
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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