November 07, 2023 07:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The PP jumbo bag market is likely to hold a valuation of US$ 8.2 billion by 2033. As of 2023, the market value is US$ 5.5 billion. As the demand for sustainable packaging solutions foresees growth, the PP jumbo bag market, too, is expected to grow by 4.1% CAGR from 2023 to 2033.
PP jumbo bags are considered more eco-friendly than other storage bags, and their demand in a broad spectrum of industries has grown in the past few years. These bags, also known as bulk bags, are used to store, transport, and pack essential goods due to their strength, ruggedness, and extended durability. These bags also find their applications in the pharma industry as they protect them from external elements, as the pharmaceutical ingredients are highly susceptible to moisture and dust particles.
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In recent years, the demand for PP jumbo bags in the agriculture and food industry is going through an all-time high. Agriculturists use these bags to store essential commodities like fertilizers, pesticides, seeds, crop harvests, etc. In the food industry, the demand is also driven by the storage capabilities of PP jumbo bags for commodities like rice, sugar, and other food items. As the demand for food in developing countries like India and China continues to grow, the need for PP jumbo bags is likely to increase.
The pharmaceutical and chemical industry also utilizes the full potential of PP jumbo bags in storing and segregating harmful chemicals in research labs and factory units. Type C bags, also known as conductive FIBCs or groundable bulk bags, are used extensively in these units for their non-conductive properties. These bags are considered more robust and efficient than other jumbo storage units.
“Despite numerous international players globally, there are few concerns about the environmental impacts of PP jumbo bags in the market. Key players must invest in research and development to solve this issue as businesses worldwide are becoming increasingly aware of their carbon footprint on their surroundings”, opines an Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the PP Jumbo Bag Market Report:
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Competitive Landscape of PP Jumbo Bag Market:
The global market for PP jumbo bags is filled with numerous international players who have expanded their consumer base beyond territorial boundaries. These companies have a strong foothold in emerging countries where the demand for PP jumbo bags is gradually rising.
Their consumer base mainly comprises countries with large agricultural and pharmaceutical industries. New entrants in the market have minimal market reach, but these companies are also bringing innovations related to sustainability to the PP jumbo bag market.
Key Companies in the PP Jumbo Bag Market:
Recent Developments in the PP Jumbo Bag Market:
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PP Jumbo Bag Market by Category
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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About Future Market Insights (FMI) Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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