The global fiber bale packaging market is anticipated to accumulate a market value of US$ 2.86 billion in 2023 and is expected to record a market valuation of US$ 4.5 billion by exhibiting a CAGR of 4.6 % in the forecast period 2023 to 2033. The market for Fiber bale packaging market registered a CAGR of 3.1 % in the historical period 2018 to 2022.
The demand for fiber bale packaging film is rising at a much faster pace than before due to growing worldwide shipments of the goods and products. Fiber bale plays a crucial role in bulk shipping and handling of goods. Also, the market is further anticipated to grow continuously due to surging demand for packaging products that offer good protection to the products packed inside it. Furthermore, the availability of extrusion PE or PP coated fibre that is required by many end-use industries, as well as the wide range of fabric weights, suited for big baling lines and high-speed automatic packaging, are key factors propelling the growth of fiber bale packaging market.
The incorporation of highly integrated fibre bale packaging would reduce costs associated with the production, storage, and international shipping of bulk packaging while also accelerating the speed at which the product reaches the market. The storage and transportation of bulk packing from coast to coast is made more secure, safe, and cost-effective with the use of customized fibre bale packaging.
This type of packaging has a surprising amount of strength and durability despite being lightweight. Additionally, the capacity to be elastic, flexible, and water resistant with coated textiles are some of the attributes that are expected to drive the market growth of fibre bale packaging during the forecast period.
Besides this, rising import and export activity has been observed around the world over the past few years, due to the rapidly growing trend of globalization, creating huge demand for bulk packaging products. The ability of this packaging to secure and protect bulk products during transportation, this packaging finds application across numerous industries including building and construction, food & beverage, electrical & electronic, and agriculture. By tailoring bale covers according to end-user preferences, staple fiber characteristics, and bale presses, this fiber bale packaging technique is becoming widely accepted across several industries.
The packaging industry has experienced significant growth in recent years with the increasing use of digital printing, which provides the benefit of printing all colors in one pass, thereby boosting a print-on-demand trend in the industry. Moreover, digital printing makes it easy to personalize packaging which has helped many product brands gain a considerable return on such a radical investment.
The Asia Pacific fiber bale packaging market is anticipated to dominate the market by accounting for over 43% market share by end of the forecast period. The growth is attributed to increasing product demand from end-use industries like food and beverage, electrical and electronics, construction, and pharmaceuticals among others. Rising population coupled with increasing consumer disposable income levels has resulted in increase in demand for consumer goods which is expected drive industry expansion during the forecast period.
Likewise, the market for fiber bale packaging in the North America is driven by factors such as the growing concerns for sustainable packaging in the region, proliferating e-commerce sales, high disposable income, rising demand for eco-friendly packaged foods, and demographic changes.
Fiber Bale Packaging Market: Dynamics
Fiber bale packaging market is majorly driven by the various factors such as wide range of fabric weights, ideal for large baling lines & high speed automatic packaging and availability of extrusion PE or PP coated fiber that demanded by the various end-use industries.
The use of highly integrated fiber bale packaging will improve time to market and mitigate costs related to the production, storage and transportation of bulk packaging worldwide. Customised fiber bale packaging ensure higher excellence, greater safety and more cost-effectiveness in the storage and transportation of bulk packaging from coast to coast.
Although lightweight, fiber bale packaging also represents a surprising extent of strength and durability. Besides this, tear resistant ability, stretchable and flexible for ideal fitting, and water resistance with coated fabrics are some of the features helps in boosting up the fiber bale packaging market globally.
With the slowdown in world economic growth due to COVID-19 pandemic, the fiber bale packaging market players has also experienced a certain impact and are struggling to continue their operations to provide their services to food & beverage and electrical & electronics industries. The disruption caused by COVID-19 in the whole world is expected to vibrate the economy of Europe, America, China and other developing countries from Asia Pacific.
Fiber Bale Packaging Market: Regional Outlook
Global fiber bale packaging market has been fragmented into seven key regions including North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa and Oceania. Large number of fiber bale packaging manufacturers are present in the developed countries such as USA, Germany, and France, because of which the North America followed by European region dominates the global fiber bale packaging film market.
There are significant growth opportunities for the existing manufacturers and new competitors in the global fiber bale packaging market specifically to Asian manufacturers where packaging industries are growing rapidly, due to which demand for fiber bale packaging in Asia Pacific region is anticipated to increase in coming years.
Besides this, growing penetration in markets around the world, such as Latin America, Middle East & Africa and Oceania are also demanding for bulk packaging in various industrial operations and thus fiber bale packaging market is also projected increase to some extent.
How Competitive is the Market?
Latest developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing Fiber bale packaging are expected to create lucrative opportunities for market growth during the forecast period.
· In March 2022, Huhtamaki, a key global provider of sustainable packaging solutions, has bolstered its manufacturing capabilities in smooth molder fiber, a transformative and technologically advanced material that can produce high-precision food packaging and replace rigid plastics.
· In October 2022: ‘PulPac’ has implemented its Dry Molded Fiber technology to develop cutlery from “almost no water” to enter existing paper-recycling streams. The company aims to replace single-use plastic with environmentally sustainable fiber-based alternatives at a low cost.
Fiber bale packaging is a versatile type of bulk packaging that protects staple fiber against dirt in the factory, forklift grease and numerous handler. Once attached to the other piece, each piece is modified to greatly enclose and accommodate the compact, durable fibre bale.
The key objective of fiber bale packaging is to develop and assemble technology for safe and secured packaging of bulk products, its storage and shipping and stays firmly packed up to when the package is opened or damaged. Fiber bale packaging can tailor a bale cover to suit individual requirements, based on staple fiber features, wrapping preference and bale presses.
Owing to its many benefits, net wrapping in fiber bale packaging has been the heavily used option in recent years. The ease of delivery of the fiber bale packaging and minimized wear of the equipment made it the system of choice. The fiber bale packaging incorporates high strength with reasonable working power to produce compact with physically attractive bales.
Any of the fiber bale packaging consists of multi-layer laminates (coated on one or two sides) forms that are used to satisfy specific strength and robustness specifications. Some of the foremost users of fiber bale packaging are food & beverage, automotive, electrical & electronics, and building & construction industries.
