Virtually, flexitanks can be utilized for any liquid and semi-solid food material. This has helped higher flexitank penetration in the foodstuffs application segment. Higher operational benefits and cost-effectiveness have made flexitanks an attractive alternative.
China and South East Asian countries have become the prominent manufacturing hubs for key manufacturers in the world. Huge foodstuffs & chemicals export from Asia Pacific & North America is expected to push flexitanks demand to greater heights over the forecast period.
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- Global flexitanks market demand was 984,000 units in 2015 and is expected to reach 4,928,106 units by 2024, growing at a CAGR of 18.6% from 2016 to 2024
- Foodstuffs were the leading application segment and accounted for over 30% of total market volume in 2015. Easy availability of FDA approved flexitanks in all regions has been a major factor for its increased penetration.
- Chemical is expected to be the fastest growing application segment at an estimated CAGR of 19.0% from 2016 to 2024. The growth can be attributed to increasing popularity of flexitanks along with the fact that all non-toxic liquid chemicals can be transported using flexitanks.
- Product Outlook (Volume, Units; Revenue, USD Million, 2014 - 2024)
- Application Outlook (Volume, Units; Revenue, USD Million, 2014 - 2024)
- Wine & Spirits
- Industrial Products
- Pharmaceutical Goods
- Regional Outlook (Volume, Units; Revenue, USD Million, 2014 - 2024)
- North America
- Asia Pacific
- Middle East & Africa
- Central & South America
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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