According to the report titled ‘Global Flexible Intermediate Bulk Container Market Size study with COVID-19 impact, by Product (Type A, Type B, Type C, Type D), by End-User (Food, Chemical, Pharmaceuticals, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global flexible intermediate bulk container market was worth USD 4.2 billion in 2019 and is projected to record a CAGR of 6% during 2020-2027.
 

Surging demand from pharmaceutical sector, rising expenditure on manufacturing & construction, and growing food processing sector are the key factors driving the growth of global flexible intermediate bulk container (FIBC) market.
 

For those uninitiated, FIBC is a commercial container made from supple fabric which is used for transportation and collection of dry goods, like plastic granules, fertilizers, and sand.  FIBCs are mainly made from intertwined polyethylene or polypropylene, coated or uncoated, usually with a diameter between 45-48 inches (114 cm-122 cm), and ranging from 39-37 inches (100 cm-200 cm) in height.
 

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According to Department for Promotion of Industry and Internal Trade (DPIIT), food processing sector in India received about USD 7.54 billion from Foreign Direct Investment (FDI) during 2000-2017. In addition, Indonesian government invested USD 4.48 billion in food & beverage sector in the year 2019, which is fueling global flexible intermediate bulk container industry size expansion.
 

The COVID-19 outbreak and the consequent discontinuity in manufacturing activities globally have plunged the demand for flexible intermediate bulk container, thus hampering the market growth. Besides, varying raw material prices may also restrain the industry expansion during 2020-2027.
 

Based on product type, global flexible intermediate bulk container market is segmented into type D, C, B, and A. Speaking of end-user scope, the industry is divided into pharmaceuticals, chemical, food, and others.
 

Citing the regional landscape, the report states that North America currently accounts for considerable share of global flexible intermediate bulk container industry, on account of FIBC acceptance across large-scale manufacturing and chemical sectors in the region.
 

Meanwhile, Asia Pacific flexible intermediate bulk container industry is likely to witness a substantial growth during analysis timeframe, owing to growing pharmaceutical and chemical sectors in economies like India and China.
 

Leading organizations in global flexible intermediate bulk container market are Isbir Sentetik Dokuma San. A.S., Jumbo Bag Ltd., Halsted Corporation, Bulk Lift International, Berry Global Inc., Plastipak Group, Flexituff Ventures International Limited, Greif Inc., BAG Corp., and Global-Pak Inc.