The jumbo bags market is estimated to grow by 1.5x between 2020 and 2030 in terms of revenue. By 2021, therefore, the market’s valuation is expected to surpass US$ 5.8 Bn.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving the demand for jumbo bags. The report tracks the global sales of jumbo bags in 20+ high-growth markets, along with analysing the impact COVID-19 has had on the packaging industry in general, and jumbo bags in particular.
In a recent study of the Jumbo Bags market, FMI revealed that by 2030 the market will register an impressive CAGR and the market value will exceed $5.8 billion. Until 2021. Demand for jumbo bags is expected to continue to surge due to the growing demand for durable, cost-effective and space-saving packaging.
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“Jumbo bag manufacturers around the world are taking advantage of the growing demand in a variety of industries. Food and agriculture, building and construction, and pharmaceutical industries are also seeing trends in spending on effective solutions for bulk packaging and safe delivery.” FMI analysts say:
Jumbo Bags Market – Key Highlights
- For bulk packaging, Category C jumbo bags are strongly recommended because of industry standards.
- Growth in the chemical fertilizer business is boosting the jumbo bag market. Throughout the forecast era, FMI has predicted that FMI will remain the primary end user.
- Jumbo bags in sizes 200kg – 750kg are more common in the market and are expected to maintain high demand over the forecast period.
- North America, led by the US, is estimated to dominate the market during the forecast period.
Jumbo Bag Market – Drivers
- Flexible packaging types are gaining popularity due to many advantages over rigid packaging types driving the market growth.
- Jumbo bags or bulk bags are mainly used for transporting and packaging bulk products in various end-use industries such as chemicals and fertilizers, building and construction, food and agricultural products, pharmaceuticals, minerals and mining, etc. Demands in these industries include: Drive market growth.
- Additionally, the jumbo bag market is growing due to the industrial demand for smaller and personalized bag sizes with damage-resistant shipping characteristics.
Jumbo Bag Market – Confinement
- Strict government guidelines on product sustainability are hampering the growth of the market.
- The outbreak of COVID-19 is expected to harm the market.
Impact of COVID-19 on Jumbo Bags Market
The unprecedented COVID-19 pandemic is expected to hamper the jumbo bag market growth. At several levels, the COVID-19 pandemic is now impacting the global economy, and its impact is also visible in the automotive aftermarket.
Growth is expected to be impacted by the COVID-19 pandemic crisis, with demand expected to decline significantly in 2021. Uncertainty in the retail and supply chain markets has also slowed profitable growth, with many end-use industries affected in many countries. However, as the market continues to improve, the economy is likely to enter a recovery process.
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Competitive Landscape
Several leading players in the market are focusing on research and development (R&D) initiatives and product innovations to make their products stand out amid competition. Some of them specialize in short lead times, fast turn-around, and production of jumbo bags in small quantities. Big players such as Berry Global Group Inc., Greif Inc., and Intertape Polymer Group (IPG) are currently boasting stronghold in the market yet they are relying on product launches.
For instance:
- Berry Global Group Inc. introduced a latest product line of Flexible Intermediate Bulk Containers (FIBC) − Bulk Container Liners, which offers an efficient, economical, and easy solution for shipping, transporting and storing dry bulk goods for a variety of end-use industries, such as agriculture, minerals, chemicals, food, and other
- In 2019, Greif Inc. considered Food Safety Initiative and launched Seal Guard Flexible Intermediate Bulk Container (FIBC) made with polyethylene (PE) using an automated bonding process that allows for anti-contamination and leak-free transportation, better protects against moisture without using an inner liner, and reduces risk of tearing during filling processes
- Intertape Polymer Group (IPG) has strategic alliance partners in China, India, Mexico and Korea where IPG demonstrates value-added supply initiative by providing its full line of cost-effective jumbo bags to the consumers globally
Jumbo Bags Market by Category
Bag Type:
- Type A
- Type B
- Type C
- Type D
Capacity:
- Less than 200 kg
- 200 kg- 750 kg
- 750 kg – 1500 kg
- 1500 kg and above
Design:
- U-Panel Bag
- Four Side Panel
- Baffle
- Circular/ Tabular
- Cross Corner
End Use:
- Building & Construction
- Chemicals & Fertilizers
- Food Products & Agriculture
- Pharmaceuticals
- Others (Mining)
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
- Market Overview
2.1. Market Coverage
2.2. Market Definition
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
- Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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