The global flexitank market size reached USD 1.40 billion in 2023 and is projected to grow around USD 10.25 billion by 2033, poised to grow at a CAGR of 22.10% from 2024 to 2033.
Key Takeaways
- Asia-Pacific contributed more than 45.2% of market share in 2023.
- North America is estimated to expand at the fastest CAGR between 2024 and 2033.
- By product, the single-trip product segment generated over 94% of the market share in 2023.
- By product, the multi-trip product segment is anticipated to grow at a remarkable CAGR of 23.4% between 2024 and 2033.
- By application, the foodstuffs segment generated over 29% of market share in 2023.
- By application, the oils segment is expected to expand at the fastest CAGR over the projected period.
The Flexitank market is witnessing robust growth as a result of increasing demand for cost-effective and efficient bulk liquid transportation solutions. A flexitank is a flexible, collapsible container made of various polymers that is designed to carry non-hazardous liquids in standard 20-foot containers. This innovative packaging solution has gained popularity across industries such as food and beverages, pharmaceuticals, and chemicals due to its ability to optimize shipping costs, reduce environmental impact, and streamline logistics.
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Growth Factors
Several factors contribute to the growth of the Flexitank market. The rising global trade of liquid commodities, coupled with the need for more sustainable and economical shipping methods, has significantly boosted the adoption of flexitanks. Moreover, the flexibility offered by these containers in transporting a diverse range of liquids, including edible oils, chemicals, and non-hazardous pharmaceuticals, further accelerates market expansion. The shift towards bulk transportation and the continuous development of advanced flexitank technologies are additional drivers fueling market growth.
Flexitank Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 22.10% |
| Market Size in 2023 | USD 1.40 Billion |
| Market Size by 2033 | USD 10.25 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Metal Casting Market Size Will be USD 378.42 Billion By 2033
Flexitank Market Dynamics
Divers:
The Flexitank market exhibits diversification in terms of applications across various industries. While the food and beverage sector prominently utilizes flexitanks for transporting edible oils and beverages, the chemical industry leverages them for the shipment of non-hazardous chemicals. Pharmaceutical companies also find value in using flexitanks for the safe transport of liquid pharmaceutical products. This diversification contributes to the resilience and versatility of the market.
Opportunities:
The market presents opportunities for innovation and technological advancements in flexitank design and materials. As the demand for sustainable and eco-friendly packaging solutions continues to rise, there is a significant opportunity for manufacturers to develop bio-based and recyclable materials for flexitanks. Additionally, expanding market penetration in emerging economies and untapped industries offers growth prospects for businesses in the flexitank sector.
Challenges:
Despite its positive trajectory, the Flexitank market faces challenges, including regulatory hurdles related to the transportation of specific liquids, especially in the pharmaceutical and chemical sectors. Ensuring compliance with international shipping regulations and addressing concerns about the potential for contamination or leakage during transit are critical challenges. Additionally, the perception of flexitanks as single-use items may pose environmental sustainability challenges that the industry needs to address.
Region Snapshot
The Flexitank market demonstrates geographical diversity, with significant growth observed in regions with active trade and industrial activities. Asia-Pacific, driven by the expansion of manufacturing and trade in countries like China and India, stands out as a key region for flexitank market growth. North America and Europe also contribute substantially, with a focus on sustainable logistics solutions. As the market matures, opportunities in South America and Africa are emerging, presenting potential avenues for expansion in the coming years. The regional dynamics highlight the global nature of the flexitank market.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Recent Developments
- In 2022, Global Container Terminals (GCT) and Flexitank International joined forces, establishing a partnership to offer flexitanks at GCT’s terminals in Singapore and Hong Kong.
- Tank Container International (TCI) also made significant strides in 2022 by introducing a new line of flexitanks explicitly designed for use in the food and beverage sector.
- In a collaborative effort announced on December 12, 2021, several businesses, including Vast Solar, Solar Dynamics, CyD, Alia Energy Consulting, and Critical Engineering, unveiled a breakthrough in flexitank technology.
- In August 2023, the Flexitank Association, a prominent global trade association representing the flexitank industry, unveiled a groundbreaking initiative by introducing a new certification program.
Flexitank Market Companies
- Environmental Packaging Technologies, Inc.
- Qingdao LAF Packaging Co., Ltd.
- BLT Flexitank Industrial Co., Ltd.
- SIA Flexitanks
- Trans Ocean Bulk Logistics
- Qingdao Global Flexitank Logistics Co., Ltd.
- Bulk Liquid Solutions
- Trust Flexitanks
- Braid Logistics
- Hengxin Plastic Flexitank Manufacturing Co., Ltd.
- Rishi FIBC Solutions Pvt. Ltd.
- KriCon Group BV
- MY FlexiTank
- KAG Logistics
- BeFlexi
Segments Covered in the Report
By Product
- Single trip
- Multi-trip
By Application
- Foodstuffs
- Wine & Spirits
- Chemicals
- Oils
- Industrial Products
- Pharmaceutical Goods
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Flexitank Market
5.1. COVID-19 Landscape: Flexitank Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Flexitank Market, By Product
8.1. Flexitank Market Revenue and Volume, by Product, 2023-2032
8.1.1. Single trip
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Multi-trip
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Flexitank Market, By Application
9.1. Flexitank Market Revenue and Volume, by Application, 2023-2032
9.1.1. Foodstuffs
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Wine & Spirits
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Chemicals
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Oils
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
9.1.5. Industrial Products
9.1.5.1. Market Revenue and Volume Forecast (2020-2032)
9.1.6. Pharmaceutical Goods
9.1.6.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Flexitank Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Environmental Packaging Technologies, Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Qingdao LAF Packaging Co., Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. BLT Flexitank Industrial Co., Ltd.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. SIA Flexitanks
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Trans Ocean Bulk Logistics
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Qingdao Global Flexitank Logistics Co., Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Bulk Liquid Solutions
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Trust Flexitanks
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Braid Logistics
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Hengxin Plastic Flexitank Manufacturing Co., Ltd.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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