Global Flexible Intermediate Bulk Container Market 2018-2022
About this market
Innovations in FIBC products to trend in the market. The vendors in the FIBC market are expanding their product portfolios by adding innovative FIBC products as per the needs of various end-users. These innovations relate to the shape of the product, convenience in handling, and the properties of the raw materials used in manufacturing FIBCs. Technavio’s analysts have predicted that the flexible intermediate bulk container market will register a CAGR of more than 6% by 2022.
Growing pharmaceutical industry in Europe
The growing innovations in the field of oncology, as well as diseases such as rheumatoid arthritis and others, are spurring the growth of the pharmaceutical industry in Europe. The export and import values of the European pharmaceutical market have been rising since 2014, which, in turn, is expected to spur demand for FIBCs from different European countries.
Stringent regulations on use of FIBCs for food packaging
The initiatives being undertaken by the government for the safe packaging of food products is increasing in the developed countries. The need for FIBC manufacturers to comply with these different government regulations will increase their cost of production, and thus affect their profit margins
For the detailed list of factors that will drive and challenge the growth of the flexible intermediate bulk container market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Greif and Plastipak Group the competitive environment is quite intense. Factors such as the rising pharmaceutical industry in Europe and the innovations in FIBC products, will provide considerable growth opportunities to flexible intermediate bulk container manufactures. Berry Global, Conitex Sonoco, Global-Pak, Greif, and Plastipak Group are some of the major companies covered in this report.
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