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.
“ 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:
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Jumbo Bags Market – Key Highlights
Jumbo Bag Market – Drivers
Jumbo Bag Market – Confinement
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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.
competitive landscape
In addition to choosing strategic collaborations to gain a competitive advantage, jumbo bag market players are also looking to expand their production facilities. For example, Berry Global Group Inc. has launched DriBulkTM Container Liners, a new family of Lightweight Intermediate Bulk Containers (FIBC) that provide a reliable, affordable and convenient option for many end-use industries such as agriculture, minerals and chemical. , food and other industries, shipping, transporting and storing dry bulk products.
Major companies operating in the global market include Berry Global Group, Inc., Greif Inc., Conitex Sonoco, AmeriGlobe LLC, PT. WIHARTA KARYA AGUNG, BAG Corp, Halsted Corporation.
Jumbo Bags Market by Category
Bag Type:
Capacity:
Design:
End Use:
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