Global Flexitanks Market Size By Product (Single Trip, Multi-Trip), By Application (Foodstuffs, Wine & Spirits), By Geographic Scope And Forecast
Report ID: 41291|No. of Pages: 202
Global Flexitanks Market Size By Product (Single Trip, Multi-Trip), By Application (Foodstuffs, Wine & Spirits), By Geographic Scope And Forecast
Flexitanks Market Size And Forecast
Flexitanks Market size was valued at USD 63.87 Billion in 2023 and is projected to reach USD 100.79 Billion by 2031 growing at a CAGR of 5.20% from 2024 to 2031.
- The Flexitanks Market refers to the industry that manufactures, distributes and uses flexible containers used to transport bulk liquids. These tanks provide an economical method for transporting non-hazardous liquids over great distances.
- Flexitanks are most commonly employed in the food & beverage, chemical and pharmaceutical industries. They enable the transportation of oils, juices, wines and industrial liquids while lowering costs associated with traditional bulk liquid shipping techniques such as drums and IBCs.
- Future expansion in the Flexitanks Market is projected to be driven by increasing worldwide trade and a need for efficient, environmentally friendly logistics solutions. Technological developments, such as improved materials and designs, are likely to drive adoption across a wide range of industries.
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Global Flexitanks Market Dynamics
The key market dynamics that are shaping the global Flexitanks Market include:
Key Market Drivers:
- Increasing Worldwide Trade in Liquid Bulk Commodities: The increase in global trade of liquid products such as edible oils and chemicals is increasing the Flexitanks Market. According to UNCTAD, liquid bulk cargo accounted for 32% of global seaborne trade in 2023, emphasizing the need for efficient liquid transport.
- Cost-Effectiveness And Efficiency: As compared to standard liquid bulk transportation methods: Flexitanks are a more cost-effective choice, saving 30-40% on transportation expenses as compared to ISO tanks. According to a Cefic research from 2023, Flexitanks increase loading and unloading times by 50%, increasing supply chain efficiency.
- Environmental Sustainability Is Becoming Increasingly Important in Logistics: Flexitanks usage is being driven by sustainable transportation solutions because of their recyclability and energy efficiency. The IMO reported a 15% reduction in carbon emissions by 2023, while reusing Flexitanks could reduce plastic waste by up to 25% by 2030.
Key Challenges:
- Risk of Contamination: Flexitanks are efficient but can lead to cross-contamination if not properly cleaned and maintained, especially when moving sensitive liquids like food goods. Even minor residues from earlier shipments might degrade product quality, resulting in possible losses and higher operational costs.
- Limited Reuse Options: Flexitanks are meant for single use, making them less reusable than ISO tanks or drums. This raises waste and disposal expenses because businesses must constantly purchase new tanks for each shipment. Despite their recyclability, single-use products continue to provide a barrier to sustainability initiatives.
- Regulatory Compliance: Liquid transportation rules for Flexitanks vary by country and location. Navigating these complex standards can present compliance issues, particularly when shipping hazardous or regulated liquids. Noncompliance could cause delays, fines, or restrictions, adding to logistical complexities and costs.
Key Trends:
- Increasing Need for Liquid Bulk Transportation in Emerging Markets: Growing industrialization and urbanization in emerging economies like as India and China are driving up the demand for efficient liquid bulk transportation. Flexitanks are becoming a favored solution due to their cost-effectiveness, making them essential to logistics in industries such as food and chemicals.
- Advancements In Material Science Enhance:the durability, capacity and recyclability of flexitanks. Newer designs include multi-layered structures that improve leak prevention and chemical resistance, allowing for safer transportation of a broader range of liquids, including hazardous chemicals and therefore boosting their market potential.
- Growth in Food and Beverage Exports: Flexitank usage is being driven by an increase in food and beverage exports, particularly for oils, wines and juice. Flexitanks provide a contamination-free and cost-effective way to transport these liquids, reducing packaging and logistics expenses, thus gaining popularity in global agricultural and beverage supply chains.
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Global Flexitanks Market Regional Analysis
Here is a more detailed regional analysis of the global Flexitanks Market:
North America:
- According to Verified Market Research, North America is expected to dominate the global Flexitanks Market.
- Flexitank demand is driven mostly by North America’s booming chemical and food processing sectors. The US chemical sector, estimated at USD 565 Billion in 2023, accounts for 25% of the worldwide market, while processed food exports were USD 43.4 Billion, representing a 5.2% yearly increase. These industries rely on efficient liquid bulk transportation, which promotes Flexitank adoption.
- North America’s excellent logistics infrastructure promotes Flexitank use. In 2023, intermodal freight travel increasing by 7.5%, with liquid bulk cargo accounting for 22% of the increase. US ports handled more over 2.3 billion metric tons of cargo, with liquid bulk shipments via Flexitanks increasing by 15%.
Asia Pacific:
- According to Verified Market Research, Asia Pacific is fastest growing region in global Flexitanks Market.
- Rapid development and economic expansion in Asia Pacific have increasing demand for low-cost liquid bulk cargo transportation. According to the Asian Development Bank, developing Asia’s GDP is expected to rise by 5.2% in 2023 and 5.3% in 2024, raising the demand for shipping solutions such as flexitanks.
- Agricultural exports from Asia, especially edible oils, have increasing, with the Food and Agriculture Organization estimating a 3.2% annual growth rate between 2008 and 2018, totaling USD 586 Billion.
- Furthermore, the region’s increasing wine production and exports, particularly from China and Australia, have boosted demand for flexitanks. China produced 6.5 million hectoliters of wine in 2020, while Australia’s wine exports to Southeast Asia increasing by 14%.
Global Flexitanks Market: Segmentation Analysis
The Global Flexitanks Market is segmented on the basis of Product, Application, and Geography.
Flexitanks Market, By Product
- Single Trip
- Multi-Trip
Based on Product, the Global Flexitanks Market is separated into Single trip and Multi-trip. The single-trip segment leads the global Flexitanks Market because to its cost-effectiveness, convenience and cleanliness benefits, particularly in industries such as food & beverage and pharmaceuticals. Single-trip flexitanks minimize the need for cleaning and the risk of cross-contamination, making them suitable for transferring sensitive liquids. Multi-trip flexitanks, while reusable and environmentally benign, are less popular due to higher upfront costs and maintenance requirements. As a result, most businesses prefer to use single-trip flexitanks.
Flexitanks Market, By Application
- Foodstuffs
- Wine & Spirits
- Chemicals
- Oils
- Industrial Products
- Pharmaceutical Goods
Based on Application, Global Flexitanks Market is divided into Foodstuffs, Wine & Spirits, Chemicals, Oils, Industrial Products, and Pharmaceutical Goods. Foodstuffs dominate the global Flexitanks Market due to the significant demand for bulk transportation of liquids such as edible oils, juices and other food products. Flexitanks provide a cost-effective and efficient alternative for carrying food-grade liquids, particularly in regions with increasing agricultural exports such as Asia Pacific. Furthermore, the wine and spirits industry are considerable, with rising exports from nations such as Australia and China.
Key Players
The Global Flexitanks Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Qingdao BLT Packing Industrial Co., Ltd. (BLT), Braid Logistics UK Ltd., Bulk Liquid Solutions Pvt. Ltd., Büscherhoff Packaging Solutions GmbH, Environmental Packaging Technologies, Inc., Full-Pak, HOYER GmbH, K Tank Supply Ltd., Mak & Williams Flexitank Supply Ltd., MY FlexiTank (MYF), KriCon Group BV, Qingdao LAF Packaging Co., Ltd., SIA FLEXITANKS, Yunjet Plastics Packaging, Trans Ocean Bulk Logistics Ltd., TRUST Flexitanks, FLUIDTAINER FLEXITANK Sdn Bhd, Hinrich Industries.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Flexitanks Market Recent Developments
- In November 2023, ASF, Inc., a logistics service provider, announced the extension of their flexitank portfolio, which provides highly efficient and ecologically beneficial modes of shipping for non-hazardous bulk liquid goods.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value in USD Billion |
| KEY COMPANIES PROFILED | Qingdao BLT Packing Industrial Co., Ltd. (BLT), Braid Logistics UK Ltd., Bulk Liquid Solutions Pvt. Ltd., Büscherhoff Packaging Solutions GmbH, Environmental Packaging Technologies, Inc., Full-Pak, HOYER GmbH, K Tank Supply Ltd. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL FLEXITANK MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL FLEXITANK MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL FLEXITANK MARKET, BY PRODUCT
5.1 Overview
5.2 Single trip
5.3 Multi-trip
6 GLOBAL FLEXITANK MARKET, BY APPLICATION
6.1 Overview
6.2 Foodstuffs
6.3 Wine & Spirits
6.4 Chemicals
6.5 Oils
6.6 Industrial Products
6.7 Pharmaceutical Goods
7 GLOBAL FLEXITANK MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Middle East & Africa
7.5.2 Latin America
8 GLOBAL FLEXITANK MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Qingdao BLT Packing Industrial Co., Ltd. (BLT)
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Braid Logistics UK Ltd.
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Bulk Liquid Solutions Pvt. Ltd.
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Büscherhoff Packaging Solutions GmbH
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Environmental Packaging Technologies, Inc.
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Full-Pak
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 HOYER GmbH
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 K Tank Supply Ltd
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Mak & Williams Flexitank Supply Ltd.
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 MY FlexiTank (MYF)
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 APPENDIX
10.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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