The global flexitanks market size reached US$ 772 Million in 2021.
Looking forward, the analyst expects the market to reach US$ 2,106 Million by 2027, exhibiting a growth rate (CAGR) of 17.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Flexitanks are storage pouches or bags that assist in the bulk transportation of non-hazardous liquids in a dry shipping container. They are made using multiple layers of polyethylene, lined with corrugated paper or cardboard, and covered using woven polypropylene. They are thin, safe, and cost-effective and offer high operational efficiency and protection against contamination compared to intermodal containers. Consequently, they are widely used for shipping oils, beer, wine, molasses, beverages, fruit concentrates, and egg products. They can also be utilized to export water, latex, glycerin, biodiesel, chemicals, pharmaceutical items, and others.
At present, there is a substantial increase in international trade due to the growing global population, continuously escalating demand for food and declining arable land area. This represents one of the significant factors strengthening the growth of the flexitanks market. Moreover, stringent guidelines set by governing agencies of numerous countries for the shipment of food-grade products, non-hazardous chemicals, and pharmaceutical materials are positively influencing the demand for flexitanks to facilitate high volume transportation with reduced costs. Apart from this, due to the rising environmental concerns, leading players are collaborating with other companies to develop flexitanks from recycled and renewable materials. They are also investing in research and development (R&D) projects to enhance yielding strength and durability of these products for safe transportation. This, in confluence with the growing popularity of imported alcoholic beverages, is anticipated to stimulate the market growth in the coming years.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global flexitanks market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.
Breakup by Product:
Breakup by Application:
Wine & Spirits
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Braid Logistics UK, Bulk Liquid Solutions (P) Ltd, Büscherhoff Packaging Solutions GmbH, Full-Pak, Hengxin Plastic Co. Ltd., JF Hillebrand GROUP AG, MY FlexiTank Industries Sdn Bhd, SIA Flexitanks Ltd., TRUST Flexitanks SL and Yunjet Plastic Packaging.
Key Questions Answered in This Report:
How has the global flexitanks market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global flexitanks market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global flexitanks market and who are the key players?
What is the degree of competition in the industry?