The global flexible containers market is anticipated to accumulate a market value of US$ 6.1 billion in 2023 and is expected to record a market valuation of US$ 11.5 billion by exhibiting a CAGR of 6.5% in the forecast period 2023 to 2033. The market for flexible container solutions for packaging registered a CAGR of 5.4 % in the historical period 2018 to 2022.
Bulk containers are also used for construction materials like cement, sand, and others. Stable growth in global chemical and construction sectors are expected to favorably impact market growth. On the regional end, flexible container market in North America is driven by the growing pharmaceutical industry in the region. The region held maximum share of 36% in 2018, in terms of both volume and revenue.
The high adoption of flexible intermediate bulk containers by large-scale chemical and manufacturing industries is contributing to market growth. This region will continue to dominate the market by accumulating over 39% market share by end of 2033. Also, the steady growth in food processing and agricultural markets in this region will further induce demand for flexible intermediate bulk containers during the forecast period.
Similarly, Asia Pacific market is expected to progress at highest CAGR of 6.1% during the projected period. India and China are among the biggest agriculture producing countries in the world. Moreover, China is a dominating player in terms of chemical industry in the world. Along with this, pharmaceutical market in the region is also growing at the highest rate as compared to the rest of the world. Owing to these factors Asia Pacific market is anticipated to progress at a remarkable rate in terms of both volume and revenue, during the forecast period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 6.1 billion |
| Projected Market Value in 2033 | US$ 11.5 billion |
| Growth Rate (2023 to 2033) | 6.5 % CAGR |
Recent developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing flexible containers are anticipated to create lucrative prospects for market growth during the forecast period.
Due to the increasing population, there is a boost seen in the construction industry in the world. The need for providing products required at the construction time has demanded for the growth of flexible containers in the market.
The flexible containers are bulk containers which are made up of thick woven flexible fabrics and offer non-rigid packaging for storing and transporting dry or fluid, heavy items. The flexible containers have one or four loops from which they are carried. The emptying of flexible containers is done easily by lifting the container from the loop and cutting the bottom of the container commonly known as discharge spout.
The flexible containers offer pretty good storage volume and also reduce the tare weight because the weight is equally distributed due to its cubical nature. Therefore, to obtain significant savings during bulk transportation, manufacturers are producing the flexible containers which will help them achieve profits.
Due to the pandemic spread of the novel Coronavirus, the packaging industry is experiencing downfall because of the lack of workforces and challenges related to raw material procurement.
Therefore, the flexible containers market is also going sluggish currently. But due to the excellent characteristic feature of the flexible containers, the huge demand for transporting the pharmaceuticals, food & beverages, etc in these difficult times can flourish the growth of flexible containers market.
The flexible containers once transported are loaded in the warehouses or sites by the help of pallets. These flexible containers are foldable and so can be kept as they occupy negligible space. As the flexible containers are made using woven Polypropylene, they have excellent load bearing capabilities. There are different types of flexible containers such as Type A, B, C & D which have their own features.
Type A flexible containers are made of plain woven propylene and non-conductive fabrics, used to safely transport non-flammable products. Type B flexible containers are made of materials having low breakdown voltage to prevent accident so are used to transport dry and flammable products.
Type C flexible containers are made of non-conductive polypropylene fabrics and are also known as ground-able flexible containers, used to transport flammable powders & solvents.
Type D flexible containers are static and non-static dissipative fabrics to prevent incendiary sparks, used to transport combustible products. Type A flexible containers are preferred more in transportation of products from the above flexible containers.
The North America region accounts to have a larger market of the flexible containers, owing to the rapid growth of food and pharmaceutical industries. Also, the increasing trade will further fuel the regional demand of products in whole world.
The Asia Pacific region also holds a sizable market because of the high demand for agro-based products coupled with chemicals. The Middle East & Africa has a strong market for the flexible containers as there is a rapid growth of construction industry in the region. Also, markets in these regions are becoming saturated so, companies in these regions are expanding globally.
Other regions such as the Latin America and the Oceania also have strong potential of growth opportunity for the flexible containers market.
The different competitors in the flexible containers market are as follows-
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Flexible Containers Market
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