PUBLISHER: Grand View Research | PRODUCT CODE: 1321467
PUBLISHER: Grand View Research | PRODUCT CODE: 1321467
The global intermediate bulk container liner market size is expected to reach USD 1.44 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2023-2030. This growth is attributed to the growing freight costs which is driving the exporters to adopt IBC liners which help in significantly reducing the space occupancy compared to other bulk packaging solutions. In addition, its unique properties such as reducing the need to clean the container, reusability, lower-cost, and its ability to prevent product contamination propels the market demand for IBC liners.
Furthermore, the growing imports and exports of food and beverage products in regions such as Asia Pacific, North America, Central and South America, and others are driving the demand for IBC liners globally. For instance, rising demand from China for Brazilian alcoholic beverages has increased the bulk exports of alcoholic beverages from Brazil to China. This further gives rise to the increased demand for IBC liners for international transportation of liquid products.
Moreover, the IBC liners market is driven by several government policies and frameworks promoting the utilization of IBC liners as a packaging solution. For instance, in the U.S. the Environmental Protection Agency (EPA) regulates and promotes the utilization of IBC liners for bulk packaging of food & beverage, industrial liquids, and household products.
The industry players are adopting several strategies including partnerships, new product launches, expansions, mergers and acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share. For instance,in June 2022, SIG, a flexible packaging solutions provider announced the acquisition of Scholle IPN, a packaging solution manufacturer. With this acquisition both the companies are expected to expand their product portfolio with innovative packaging solutions for liquid bulk packaging.