Jumbo Bags Market to Reach US$ 9.9 billion by 2033, Propelled by Rising Demand in Construction, Agriculture, and Chemical Industries for Cost

According to Future Market Insights (FMI), the giant bags market is expected to reach a value of US$6.1 billion by 2023, with a projected compound annual growth rate (CAGR) of 4.2% from 2023 to 2033. By 2033, the market is anticipated to exceed $9.9 billion.

Plastic products have become ubiquitous in our daily lives, leading to their widespread production worldwide. Unfortunately, around 70% of plastic products are estimated to degrade into plastic waste relatively quickly, contributing to significant soil and groundwater pollution. Governments have responded to this issue by implementing stringent regulations for plastic waste management. Recycling plastic has emerged as a practical and viable solution to address the challenges posed by the growing plastic waste problem.

In North America and Europe, industries have shown a preference for recyclable plastic packaging, driven by an increased understanding of responsible plastic waste disposal. This trend provides significant opportunities for well-established packaging manufacturers to develop and produce large, recyclable bags.

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In conclusion, the giant bags market is expected to experience substantial growth, reaching a value of US$6.1 billion by 2023 and continuing to expand at a CAGR of 4.2% through 2033. The growing emphasis on recycling and the demand for recyclable plastic packaging present favorable prospects for industry players to capitalize on this market.

Key Takeaways from Jumbo Bags Market Study

"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.

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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.

Surging Price of Raw Materials and Labor Shortage May Hamper Production

Jumbo bags or flexible intermediate bulk containers are made from raw materials such as polypropylene and polyethylene. It is estimated that raw materials account for around 60 to 70% of the total manufacturing cost of jumbo bags. Fluctuation in prices and unavailability of raw materials are key constraints in maintaining competitive prices of jumbo bags.

Production of jumbo bags is a labor-intensive process. Lack of adequate skilled manpower hampers production of jumbo bags in emerging economies of Asia Pacific.

Jumbo bags manufacturing industry is an export-oriented sector. Fluctuation of the forex market leads to decreasing firm's revenue from exports. It further affects the firm's profitability. It is a leading restraint in the production of jumbo bags in emerging economies.

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.

Factors Driving Jumbo Bags Consumption in the USA, China, and Germany

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Jumbo Bags Market Outlook by Category

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