| Product Code: ETC373884 | Publication Date: Aug 2023 | Product Type: Market Research Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India flexible intermediate bulk container market demonstrated steady growth with a CAGR of 5.2% from 2020 to 2024. However, there was a slight slowdown in growth between 2023 and 2024 with a growth rate of 2.5%. Overall, the market continued to expand, albeit at a slightly reduced pace in the most recent period.
The flexible intermediate bulk container (FIBC) market size in India is estimated to be around US$ 2 billion with an expected CAGR of over 12%, driven by rising demand from end user industries such as chemicals, pharmaceuticals and food processing among others. Factors such as increased usage of FIBC bags owing to their cost effectiveness compared to other packaging solutions coupled with the introduction of regulations mandating FIBC bags for hazardous cargo transportation will drive further growth opportunities for this segment over the forecast period.
The India FIBC market has experienced significant expansion due to several key drivers. Firstly, the growing demand for efficient and cost-effective bulk packaging solutions across various industries, such as agriculture, chemicals, pharmaceuticals, and food, has been a major driver for FIBC adoption. FIBCs offer advantages like easy handling, storage, and transportation of bulk goods, which has further contributed to their popularity. Moreover, the increasing export activities have created a higher demand for FIBCs, as they are widely used in the international shipment of goods.
The FIBC market in India has witnessed substantial growth due to its extensive use in transporting and storing bulk materials. However, there are some restraints affecting its progress. Fluctuations in raw material prices, such as polypropylene, which is a common material used in FIBC production, have impacted manufacturing costs. Furthermore, the lack of proper handling and disposal systems for used FIBCs has raised environmental concerns, leading to potential regulatory challenges.
The flexible intermediate bulk container market faced challenges due to disruptions in international trade and supply chain constraints. With a decline in industrial activities, the demand for these containers decreased. However, as the healthcare sector required safe and hygienic packaging solutions, there was a slight uptick in demand from pharmaceutical and medical industries.
FIBCs are widely used in the transportation of bulk materials, and the market is witnessing significant growth in India. Key players in this segment include Bulk Handling India Pvt Ltd, Beepee Enterprise, Emmbi Industries Limited, Rishi FIBC Solutions Pvt Ltd, and Halsted Corporation.
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